Share Market Live: what you should know before the market opens today: The market is expected to open in the green, as trends in the SGX Nifty indicate a gap-up opening for India’s broader index around 17,830, compared to the close of 17,713 on August 12.
On the daily charts, the BSE Sensex rose 130 points to 59,463, while the Nifty50 rose 39 points to 17,698 and formed a small-bodied bullish candle. For the fourth week in a row, the index gained 1.7 percent and displayed a bullish candlestick pattern with higher high higher low formation.
The pivot charts show that the key support level for the Nifty is 17,622, followed by 17,547. If the index continues to rise, the key resistance levels to watch are 17,749 and 17,800.
US stocks rose on Monday, extending the market’s recent rally amid investor optimism that the Federal Reserve can achieve a soft landing for the economy. Apple Inc gained 0.6 percent, Microsoft Corp gained 0.5 percent, and Tesla Inc gained 3.1 percent.
The Dow Jones Industrial Average increased by 151.39 points, or 0.45 percent, to 33,912.44, the S&P 500 increased by 16.99 points, or 0.40 percent, to 4,297.14, and the Nasdaq Composite increased by 80.87 points, or 0.62 percent, to 13,128.05.
Markets in Asia
On Monday, Asia-Pacific shares were mostly higher as investors watched market reaction to Chinese economic data. Markets in Mainland China were mixed. The Shanghai Composite fell slightly to 3,276.09 at the close, while the Shenzhen Component rose 0.33 percent to 12,460.22.
In Australia, the S&P/ASX 200 closed up 0.45 percent at 7,064.3. MSCI’s broadest index of Asia-Pacific shares outside of Japan was down 0.21%. The Nikkei 225 index in Japan rose 1.14 percent to 28,871.78 while the Topix index rose 0.6 percent to 1,984.96.
SGX Nifty
Trends in the SGX Nifty point to a gap-up opening for India’s broader index around 17,830, compared to the August 12 close of 17,713. On August 15, the Indian stock exchange was closed.
In July, retail inflation fell to 6.71%.
According to data released on August 12 by the Ministry of Statistics and Programme Implementation, India’s headline retail inflation rate, as measured by the Consumer Price Index (CPI), fell to a five-month low of 6.71 percent in July.
The CPI inflation rate was 7.01 percent in June. The July CPI inflation rate of 6.71 percent is in line with the consensus estimate. According to a Moneycontrol poll, CPI inflation fell to 6.7 percent in July.
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