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Share Market Closing Note, Indian Stock Market Trading View For 16 Aug,2022:

16. August 2022 sandeep Stock Market Research (0)

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Topic :- Share Market Closing Note

Nifty ends above 17,800, Sensex gains 379 pts led by auto, realty, oil & gas.

Sensex falls 305 pts, Nifty gives up 17,250; Paytm slides 4%, HDFC 2% | Business Standard News

Except metal and PSU Bank, all other sectoral indices ended in the green with auto and realty indices rising 2 percent each.

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Topic :- Time:3.00 PM

Nifty spot if manages to close above 17800 level then expect some further upmove in coming sessions and if it closes below above mentioned level then some sluggish movement can continue in the market. Avoid open short positions for tomorrow.

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Topic :- Time:2.45 PM

Just In:

I would have put money in Akasa Air had Rakesh asked, says Ramesh Damani

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Topic :- Time:2.40 PM

Just In:

Gold loan provider Muthoot Finances stock slumps 15%

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Topic :- Time:2.30 PM

NATURALGAS Trading View:

NG is trading at 707.20.If it manages to trade and sustain above 710 level then expect some quick upmove in it and if it breaks and trade below 703 level then some decline can follow. Soon NG will be in Sell from rise.

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Topic :- Time:2.00 PM

Nifty is trading in a range. Nifty spot if manages to trade and sustain above 17800 level then expect some quick upmove in the market and if it breaks and trade below 17780 level then some decline can follow in the Nifty.

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Topic :- Time:1.30 PM

CRUDEOIL Trading View:

CRUDEOIL is trading at 7003.If it breaks and trade below 7000 level then expect some quick decline in it and if it manages to trade and sustain above 7020 level then some upmove can follow in Crudeoil.

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Topic :- Time:1.00 PM

Nifty is likely to turn volatile now. Nifty spot if breaks and trade below 17760 level then expect some decline in the market and if it manages to trade and sustain above 17800 level then some upmove can follow in the Nifty.

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Topic :- Time:12.40 PM

Just In:

Rakesh Jhunjhunwalas stock holdings worth nearly $4 billion in focus after death

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Topic :- Time:12.30 PM

COPPER Trading View:

COPPER is trading at 665.40.If it breaks and trade below 664.00 level then expect some decline in it and if it manages to trade and sustain above 666.20 level then some recovery can follow in it.

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Topic :- Time:12.00 PM

Nifty is trading in positive zone however some profit booking is expected in the market. Nifty spot if breaks and trade below 17780 level then expect some decline in it and if it manages to trade and sustain above 17820 level then some upmove can follow in the market.

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Topic :- Time:11.30 AM

News Wrap Up:

1. Sensex soars 300pts, Nifty50 above 17,800; Midcaps outperform

2. Reserving sub-Rs 10K 5G market for Indian companies: Telcos have doubts

3. SpiceJet enters into settlement agreement with lessors for Boeing aircraft

4. Full-scale nuclear war could kill 5 billion people, shows new study

5. News updates: India logs 8,813 new coronavirus cases, 29 deaths in a day

6. Indias fuel demand continues to fall in August as monsoon sets in

7. Cryptocurrencies rally cools as Ethereum upgrade optimism loses steam

8. SBI hikes MCLR for various tenures by 20 bps; third hike in three months

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Topic :- Nifty Opening Note

Indian Stock Market Trading View For 16 Aug,2022:

Market will open after long weekend. Nifty to follow global cues.Nifty spot if manages to trade and sustain above 17720 level then expect some upmove in the market and if it breaks and trade below 17640 level then some decline can be seen in the market. Please note this is just opening view and should not be considered as the view for the whole day.

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Wholesale inflation drops to 13.93% in July, lowest in 5 months

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Another month of double-digit increase in wholesale prices in July means wholesale price inflation has remained above the 10-percent mark for 16 months in a row.

India's inflation based on the Wholesale Price Index (WPI) declined to 13.93 percent in July, according to data released by the commerce ministry on August 16.

The WPI inflation was 15.18 percent in June, down from an over three-decade high of 16.63 percent in May.

In July 2021, WPI inflation stood at 11.57 percent.

Another month of double-digit increase in wholesale prices in July means WPI inflation has remained above the 10-percent mark for 16 months in a row.

The fall in WPI inflation in July was driven by lower food prices, with food inflation dropping to 9.41 percent, down 300 basis points from June.

Among food items, vegetables saw a sharp month-on-month fall in prices of 12.7 percent. The index for fruits was down 3.0 percent while that for eggs, meat, and fish recording a 2.6 percent fall from June.

On the whole, the food index - which acounts for 24 percent of the WPI basket - was down 2.2 percent sequentially in July. This helped bring down the all-commodity index of the WPI by 0.1 percent from June.

Lower prices of manufactured products also helped bring down WPI inflation last month.

Compared to June, the index for manufactured products was down 0.4 percent in July, suggesting reducing price momentum. At the same time, year-on-year inflation for these products - which make up a massive 64 percent of the WPI basket - fell to a 16-month low of 8.16 percent.

In June, manufactured products inflation had come in at 9.19 percent.

In contrast, fuel and power inflation moved up to 43.75 percent, with the index for the category rising by 6.6 percent from June.

The fall in wholesale inflation in July follows a smaller drop in retail inflation.

Data released last week showed the more closely followed Consumer Price Index (CPI) inflation fell as expected to a five-month low of 6.71 percent in July.

However, the drop in CPI inflation is unlikely to do much to alter the Reserve Bank of India's interest rate hike plans. The central bank has already raised the repo rate by 140 basis points since the beginning of May and is widely expected to do so again next month as it faces the prospect of failing to meet its inflation mandate.

The Monetary Policy Committee is scheduled to next meet September 28-30.

India and US did more than any other country in fight against COVID-19, says top White House health official

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Dr Ashish Jha, the White House Coronavirus Response Coordinator, said he had a lot of time in the last two and a half years thinking about and working on the pandemic.

ndia and the US have done more than any other nation in the fight global against COVID-19, the White House's top health official has said, as he highlighted the massive efforts by the two countries to vaccinate their people along with supporting and donating to other nations to tackle the pandemic.

Dr Ashish Jha, the White House Coronavirus Response Coordinator, said he had a lot of time in the last two and a half years thinking about and working on the pandemic.

"I can't think of two nations that have done more to vaccinate and protect their own populations, and to donate and support and vaccinate and protect the world than India and the United States, Jha said in his remarks at a reception hosted by India's Ambassador to the US, Taranjit Singh Sandhu, at the India House to celebrate 75th anniversary of independence.

So it is in that light that I think we look at an evening like tonight, where Indians and Indian Americans and Americans come together to celebrate what I think is a monumental occasion, Jha said. He said it was "an incredible honor and pleasure" to celebrate 75 years of India's independence, democracy and the Indian-American friendship.

As a proud Indian-American, I am grateful for the words that our President Joe Biden used, who reminded us that the three or three and a half million of us who are Indian Americans, the vibrant Indian American community has made America more innovative, more inclusive, and a stronger nation, he said. Jha said India and the US are the world's two most consequential democracies.

Retail inflation may remain elevated despite easing in July: Report

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India's headline retail inflation that eased for the third straight month in July is expected to remain above the central bank's upper tolerance range in the near term, analysts said

India's headline retail inflation that eased for the third straight month in July is expected to remain above the central bank's upper tolerance range in the near term, necessitating more rate hikes in coming months, analysts said.

"High frequency price data suggest that headline inflation is likely to remain around July levels in August...We expect headline inflation to remain above 6% until February 2023, and core CPI inflation to remain sticky at a shade under 6% in the remaining months of FY2023," Nomura economists Sonal Varma and Aurodeep Nandi said in a note.

India's consumer inflation dipped to 6.71% in July, helped by a slower increase in food and fuel prices. The year-on-year figure, published on Aug. 12 by the National Statistics Office, was marginally lower than the 6.78% forecast by economists in a Reuters poll, but it remained above the central bank's tolerance band for a seventh month in a row.

The Reserve Bank of India aims to maintain inflation at 4.00% in the medium term, with a tolerance range of 200 basis points on either side.

"The outlook on food inflation still faces uncertainties given the uneven rainfall. For the first two weeks of August prices of vegetables, cereals (rice and wheat) and pulses are tracking higher. Rice sowing has been impacted by deficient rainfall in key producer states," said Gaura Sen Gupta, India economist at IDFC First Bank.

Even as inflation eases, economists believe the RBI's monetary policy committee will continue to hike policy rates though the quantum of such moves may come down as compared to the previous three actions.

The MPC has raised key policy rate by 140 basis points to 5.40% since May as stubborn inflation continues to remain a major concern. The next policy decision of is due on Sep. 30 with most market participants expecting another hike.

While Nomura and IDFC First Bank expect the RBI to hike repo rate by another 60 bps to 6.00%, Barclays eyes another 50 bps rise in interest rates over the next two meetings. Meanwhile, Nomura sees inflation to average 6.8% in this fiscal, IDFC First Bank sees it at 6.5%, below central bank's 6.7% prediction.

"We expect the RBI to deliver two 25 bps rate hikes each at the September and December meetings, taking the repo rate to 5.90%. However, if global commodity prices continue to decline, we note the risk that the bank does not raise rates in

December," Rahul Bajoria, chief India economist at Barclays said.

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