Share Market Live Update: Indices began flat but are now trading in the red due to uncertainty about the rate of future rate hikes. On Friday, the Sensex and Nifty both fell more than 1%. Adani Ports and TechM are up, while IndusInd Bank is down 3%.
Despite the fact that Wall Street ended in the green and Asian markets were mostly up, traders will be on edge on Friday due to uncertainty about the pace of interest rate hikes.
In July, retail inflation for farm and rural workers increased to 6.6% and 6.82%, respectively.
Retail inflation for farm and rural workers rose to 6.60% and 6.82%, respectively, in July, owing primarily to higher food prices.Retail inflation for farm and rural workers was 6.43 percent and 6.76 percent in June, respectively.
The point-to-point rate of inflation based on the CPI-AL (Consumer Price Index-Agricultural Labourers) and CPI-RL (Consumer Price Index-Rural Labourers) stood at 6.60% and 6.82% in July 2022, respectively, compared to 6.43% and 6.76% in June 2022 and 3.92% and 4.09% respectively in the previous year’s corresponding month (July 2021),” according to a labour ministry statement.
Bitcoin is down more than 6% to $21,969, while Ether is down 5.4%.
On August 19, top cryptocurrencies continued to trade in the red, with the global crypto market cap falling 5.92% to $1.05 trillion from the previous day. According to coinmarketcap.com, the total crypto market volume gained 5.97% in the last 24 hours and is now at $72.83 billion.
Gold futures are falling due to a lack of demand in Share Market
Gold futures prices fell 93 cents to $51,510 per 10 gramme on Friday as speculators reduced their holdings.
Gold contracts for October delivery fell by 93 cents, or 0.18 percent, to $51,510 per 10 gramme on the Multi Commodity Exchange, with 14,653 lots traded.
Analysts attribute the drop in gold prices to participants reducing their positions.
Four sessions in a row, multibagger stock reaches the upper circuit in Share Market
Despite the global economy slowing and inflation concerns, the Indian Share Market has produced a number of multibagger stocks in the last year. This also includes some penny stocks. Integra Essentia shares are one of those multibagger penny stocks that are consistently providing stellar returns to its shareholders and have recently seen a significant increase in trade volume. This multibagger penny stock has hit the upper circuit on all four sessions this week, delivering a weekly gain of more than 23% to its shareholders.