iifl-logo

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

Barometers trade with minor gains; European stocks edge higher

15 Jul 2022 , 01:28 PM

The domestic equity barometers traded with minor gains in afternoon trade. The Nifty traded above the 16,950 level. European shares advanced while Asian shares were mixed. At 13:28 IST, the barometer index, the S&P BSE Sensex, was up 97.35 points or 0.18% to 53,513.50. The Nifty 50 index added 31.25 points or 0.20% to 15,969.90. In the broader market, the S&P BSE Mid-Cap index gained 0.25% while the S&P BSE Small-Cap index rose 0.02%. The market breadth was negative. On the BSE, 1,481 shares rose and 1,690 shares fell. A total of 165 shares were unchanged. Investors worried that aggressive interest rate hikes by global central banks would stifle economic growth. Economy: Indias merchandise exports in June 2022 were $40.13 billion, as compared to $32.49 billion in June 2021, exhibiting a positive growth of 23.52%. Merchandise imports in June 2022 were $66.31 billion, which is an increase of 57.55% over imports of $42.09 billion in June 2021.The merchandise trade deficit in June 2022 was estimated at $26.18 billion as against $9.60 billion in June 2021, which is an increase of 172.72%. Stocks in Spotlight: ACC declined 1.02%. The cement maker reported 60% fall in consolidated net profit to Rs 227 crore despite a 15% rise in net sales to Rs 4,393 crore in Q2 June 2022 as compared with Q2 June 2021. Larsen & Toubro Infotech (LTI) gained 1.78%. LTI recorded 0.5% fall in consolidated net profit to Rs 634.4 crore on a 5.1% rise in revenue to Rs 4,522.8 crore in Q1 FY23 over Q4 FY22. As compared with Q1 FY22, the companys net income and revenue have increased by 27.7% and 30.6%, respectively. Tata Elxsi rose 3.27%. The company reported 15.4% rise in net profit to Rs 184.70 crore on a 6.5% rise in revenue from operations to Rs 725.90 crore in Q1 FY23 over Q4 FY22. Global Markets: European markets advanced across the board while stocks in Asia traded mixed. Chinas second-quarter GDP missed expectations. Chinas GDP grew 0.4% in the second quarter, compared with 4.8% in the first quarter. The second-quarter report is Chinas weakest GDP print since the first quarter of 2020 when the Covid pandemic first hit. A fresh slew of rate hikes around the world deepened worry among investors about the outlook for global economic growth. This comes after a number of central banks raised interest rates this week to tackle soaring inflation. The Bank of Canada surprised markets with a full percentage point rate hike, while central banks in South Korea, New Zealand, Singapore and the Philippines all took action to tighten monetary policy. The U.S. Federal Reserve is also seen stepping up its monetary policy action after an unexpectedly hot inflation print. Wall Street indexes fell after weaker-than-expected earnings from JPMorgan Chase & Co and Morgan Stanley fanned fears of a sharp economic downturn. Fed Governor Christopher Waller and St. Louis Fed President James Bullard on Thursday said they favored another 75-basis-point interest rate increase at the U.S. central banks policy meeting this month. Powered by Capital Market – Live News

Related Tags

  • capital market
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More
Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)

ISO certification icon
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.