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Share Market Closing Note | Indian Stock Market Trading View For 01 August, 2022:

1. August 2022 Sandeep Stock Market Research (0)

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Topic :- Share Market Closing Note

Nifty ends above 17,300, Sensex reclaims 58,000 led by auto, power, oil & gas. Stock Market Today, June 21, 2022: Share Market Updates, Share Market News Today, Sensex, Nifty, Share Prices Today

All the sectoral indices ended on positive note with Auto, Power, and Oil & Gas indices gained 2-3 percent.

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Topic :- Time:3.00 PM

Nifty spot close above 17300 level will result in some further upmove in coming sessions and if it closes below above mentioned level then some sluggish movement is likely to follow in the market. Avoid open short positions for tomorrow.

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Topic :- Time:2.10 PM

Just In:

Bank of England set for biggest interest rate rise in 27 years.

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Topic :- Time:2.10 PM

Nifty is zooming and banknifty is turning further bullish now. Nifty spot if manages to trade and sustain above 17320 level then expect some further upmove in the market and if it breaks and trade below 17280 level then some decline can follow in the Nifty.

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Topic :- Time:1.45 PM

LME INVENTORY DATA:

Aluminum down by -2900MT

Copper up by 700MT

Lead down by -625MT

Nickel up by 174MT

Zinc down by -775MT

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Topic :- Time:1.30 PM

NATURALGAS Trading View:

NG is trading at 626.50.If it breaks and trade below 626 level then expect some further decline in it and if it manages to trade and sustain above 627.80 level then some upmove can follow in NG.

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Topic :- Time:1.20 PM

Just In:

Indias manufacturing PMI hits 8-month high in July.

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Topic :- Time:1.00 PM

Nifty is highly rangebound. Nifty spot if now manages to trade and sustain above 17300 level then expect some further upmove in the market and if it breaks and trade below 17260 level then some decline can follow in the Nifty. Currently Nifty spot is trading at 17290.

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Topic :- Time:12.30 PM

COPPER Trading View:

COPPER is trading at 655.30.If it breaks and trade below 654.20 level then expect some decline in it and if it manages to trade and sustain above 656.50 level then some upmove can be seen in Copper.

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Topic :- Time:12.20 PM

Nifty is trading in a range. Nifty spot if manages to trade and sustain above 17280 level then expect some upmove and below 17260 level some decline can be seen.

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Topic :- Time:11.00 AM

Nifty is going strong now. Nifty spot if manages to trade and sustain above 17280 level then expect some quick upmove in the market and if it breaks and trade below 17260 level then some decline can follow in the Nifty.

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Topic :- Results on August 1

ITC, UPL, Zomato, Arvind, Bajaj Consumer Care, Barbeque-Nation Hospitality, Carborundum Universal, Castrol India, Escorts Kubota, Eveready Industries India, Indo Count Industries, Kansai Nerolac Paints, Max Financial Services, Prudent Corporate Advisory Services, Punjab & Sind Bank, The Ramco Cements, RateGain Travel Technologies, Thyrocare Technologies, Triveni Turbine, and Varun Beverages will be in focus ahead of June quarter earnings on August 1.

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Topic :- Nifty Opening Note

Indian Stock Market Trading View For 01 August, 2022:

Nifty to trade volatile and is likely to follow global cues.

Nifty spot if manages to trade and sustain above 17200 level then expect some upmove in the market and if it breaks and trade below 17100 level then some decline can be seen in the Nifty. Please note this is just opening view and should not be considered as the view for the whole day.

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US dollar wallows near 3-week low on bets for less aggressive Fed

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The dollar hung near a three-week low to major peers on Monday as markets continued to wager that the Federal Reserve has less tightening to do with the US economy at risk of recession

By Kevin Buckland

TOKYO (Reuters) - The dollar hung near a three-week low to major peers on Monday as markets continued to wager that the Federal Reserve has less tightening to do with the U.S. economy at risk of recession.

The dollar index, which measures the currency against six counterparts, edged 0.1% lower to 105.89, slipping back toward Friday's low of 105.53, a level not seen since July 5.

Data at the end of last week tossed the greenback in both directions, rising initially after the personal consumption expenditures (PCE) price index showed the fastest inflation since 2005, only to sink after the final University of Michigan report - closely watched by Fed policymakers - showed slipping consumer inflation expectations.

The big economic focus for this week will be the monthly U.S. jobs report on Friday.

Traders currently price about 31% probability that the Fed will keep its current 75 basis-point pace of rate hikes at its next meeting on Sept. 21, with 69% odds for a smaller half point increase.

"Markets look to be betting the Fed has done the lion's share of its task on inflation and will be receptive to slowing activity data," Taylor Nugent, a markets economist at NAB in Sydney, wrote in a client note.

The dollar slipped 0.22% to 132.925 yen, heading back toward the six-week low of 132.505 reached on Friday.

The currency pair is extremely sensitive to changes in U.S. long-term Treasury yields, with the benchmark 10-year hovering around 2.67% after sliding to the lowest since early April at 2.618% at the end of last week.

The euro, however, edged 0.07% lower to $1.0218, continuing its consolidation near the middle of its range over the past week and a half.

Sterling was about flat at $1.2186, after hitting the highest since June 28 at $1.2245 on Friday. Markets are laying 67% odds for a half-point rate hike on Thursday, compared to 33% probability of a quarter-point increase.

The Reserve Bank of Australia sets policy on Tuesday, and is expected to deliver another half point increase, with traders seeing just a 16% chance of a smaller quarter point tightening.

The Aussie dollar slipped 0.19% to $0.69775 on Monday, but after touching a six-week high of $0.7032 in the previous session.

"Should the market continue to hear what it wants from the Fed, the Aussie can readily spend more time above $0.70," NAB's Nugent said.

"But $0.65-0.70 is still seen containing most of the price action in coming months."

Insignia Ventures raises $516 million, bets on Southeast Asian tech firms

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"We could have raised a much higher amount but we have learned that smaller, tighter funds do better," Insignia's founding managing partner Yinglan Tan said in a statement on Monday.

Insignia Ventures Partners has raised $516 million for its latest funds as the Southeast Asia-focused early stage tech venture fund doubles down on the region's digital economy.

"We could have raised a much higher amount but we have learned that smaller, tighter funds do better," Insignia's founding managing partner Yinglan Tan said in a statement on Monday.

The fundraising includes $388 million for Insignia's third fund, $28 million for an entrepreneurs' pool that invests alongside the main fund and an Annex Fund I at $100 million, said the five-year-old firm that has backed more than 70 companies.

Venture capital firms have been ramping up investments in Southeast Asia as rising consumer adoption of digital platforms since the COVID-19 pandemic fuels startups across many sectors.

Insignia said investors for its third fund, which was oversubscribed, included sovereign wealth funds, university endowments and family offices from Asia, Europe and North America.

"We see a once-in-a-decade opportunity to capture outlier returns, as the winners become very obvious when the tide goes out," said Tan, referring to the weak market environment.

Like global peers, Southeast Asian tech firms have seen sharp declines in their share prices from late last year as investors baulk at higher valuations and slowing economies.

Insignia's portfolio companies include Southeast Asian car marketplace Carro, Indonesia's biggest tech firm GoTo, and Indonesian digital investment platform Ajaib.

GST collection rises to Rs 1.49 lakh crore in July, up 28% YoY

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At Rs 1.49 lakh crore, the July GST mop-up is the new second-highest amount collected in a month

India collected Rs 1.49 lakh crore as Goods and Services Tax (GST) in July, posting an increase of 28 percent from the same month last year, the finance ministry said on August 1.

Compared to the money collected in June, the July GST mop-up was 3 percent higher.

"For five months in a row now, the monthly GST revenues have been more than Rs 1.4 lakh core, showing a steady increase every month," the finance ministry said in a statement.

Of the total GST collections, Central GST was Rs 25,751 crore, while State GST was Rs 32,807 crore. Integrated GST was Rs 79,518 crore and cess was Rs 10,920 crore.

The government settled Rs 32,365 crore to Central GST and Rs 26,774 crore to State GST from Integrated GST. As such, post settlement, the total revenue of the Centre and the States in July was Rs 58,116 crore and Rs 59,581 crore, respectively.

Manufacturing activity improves in July, PMI rises to 8-month high of 56.4

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India's manufacturing activity improved in July as S&P Global's Purchasing Managers' Index (PMI) rose to an eight-month high of 56.4. HSBC H1 pre-tax profit falls, says to pay quarterly dividends

In June, India's manufacturing PMI was at a nine-month low of 53.9. A reading above 50 indicates expansion in activity, while a sub-50 print is a sign of contraction.

This is the 13th consecutive 50-plus print for the manufacturing PMI.

"The Indian manufacturing industry recorded a welcome combination of faster economic growth and softening inflation during July," noted Pollyanna De Lima, Economics Associate Director at S&P Global Market Intelligence.

"Output expanded at the fastest pace since last November, a trend that was matched by the more forward-looking indicator new orders." De Lima added.

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