05 Jul 2024 | 10:51:49 AM IST
Sensex Today | Stock Market LIVE Updates: Indian stocks traded lower on Friday, primarily influenced by HDFC Bank, the leading private lender. The bank’s report of a decrease in loans compared to the previous quarter weighed down the market sentiment.
Market View by Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
FIIs’ huge long position in the index derivatives and strong buying in the cash market can support the market in the near term. An important trigger may come from the US jobs data expected today. If the jobs data show a loosening labour market and a slowing economy, it can lead to rate cuts by the Fed in September. So, watch out for this data.
At 80000 Sensex there is no valuation comfort in the market. Investors should expect only moderate returns in the medium term at the present levels. Long-term prospects are certainly bright and, therefore, investors can continue with systematic investment. Asset allocation based on risk appetite should be the strategy at this juncture in the market.
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Stock Market LIVE Updates | Raymond stock soars 8% after company approves demerger of its real estate arm, Raymond Realty subject to approval of shareholders and regulators.
Price as on 10.51.47 AM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates | 20 Lakhs shares of Restaurant Asia traded in a bunch
Price as on 10.51.40 AM, Click on company names for their live prices.
Stock market today | With US markets closed, Asian shares slip and European shares gain
- On Friday, Asian shares declined following strong gains in European markets overnight, with U.S. markets closed for the July 4th holiday.
- Japan’s Nikkei 225 index briefly exceeded 41,000 early in the day before retracing from its record close of 40,913.65 on Thursday.
- U.S. futures saw a slight increase while oil prices declined.
Stock Market LIVE Updates | Indian bond yields flat; debt auction, US jobs data on tap
Indian government bond yields were flat in the early session on Friday, with the benchmark yield hovering around the 7% mark, while traders eyed demand for fresh debt supply at an auction and key U.S. jobs data for cues.
The benchmark 10-year yield was at 6.9990% as of 10:00 a.m. IST, following its previous close at 6.9994%.
CRYPTO NEWS | Bitcoin down 8% at $53,918; Ether down 9% at $2,855
Sensex Today | Stock Market LIVE Updates | Pharma stocks defy market mood, trade higher
Price as on 09.56.26 AM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates | Bank stocks under pressure
Price as on 09.57.28 AM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates: Sensex drops over 500 pts; HDFC Bank top drag
Rupee rises 5 paise to 83.45 against US dollar in early trade
Sensex Today | Stock Market LIVE Updates | Nifty below 24,300
Sensex Today | Stock Market LIVE Updates | Sensex drops over 400 pts
Sensex Today | Stock Market LIVE Updates | Opening Bell
Sensex drops over 400 pts, Nifty below 24,300; HDFC Bank falls 3%
“FIIs’ huge long position in the index derivatives and strong buying in the cash market can support the market in the near term. An important trigger may come from the US jobs data expected today. If the jobs data show a loosening labour market and a slowing economy, it can lead to rate cuts by the Fed in September. So, watch out for this data.At 80000 Sensex there is no valuation comfort in the market. Investors should expect only moderate returns in the medium term at the present levels. Long-term prospects are certainly bright and, therefore, investors can continue with systematic investment. Asset allocation based on risk appetite should be the strategy at this juncture in the market.”
– V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
Stock Market LIVE Updates | Japanese shares climb record peaks; market eyes US data
On Friday, Japan’s Nikkei share average and the broader Topix index both reached historic highs, although they retreated slightly as investors took profits and positioned themselves cautiously ahead of crucial U.S. economic data scheduled for later in the day.
The Nikkei index surpassed its previous record set on March 22, climbing to a peak of 41,100.13 earlier in the session. Similarly, the broader Topix index reached an all-time high of 2,906.80, surpassing its previous record set in December 1989, which occurred just the day before.
Sensex Today | Stock Market LIVE Updates | F&O Ban List: Bandhan Bank, Hindustan Copper among 5 stocks under trade ban on Friday
Five stocks are under an F&O trade ban on Friday viz. Aditya Birla Fashion & Retail (ABFRL), Bandhan Bank, Hindustan Copper, India Cements and Piramal Enterprises (PEL)
Sensex Today | Stock Market LIVE Updates | Angel One says June number of orders up 87.3% YoY
Sensex Today | Stock Market LIVE Updates | Global Markets Update
- S&P 500 futures were little changed as of 9:07 a.m. Tokyo time
- Hang Seng futures were little changed
- Japan’s Topix was little changed
- Australia’s S&P/ASX 200 fell 0.2%
- Euro Stoxx 50 futures rose 0.4%
Stock Market LIVE Updates | Oil prices on track for fourth straight week of gains
Oil prices were little changed in Asian trade on Friday but were on track for a fourth straight week of gains and holding near their highest levels since late April on hopes of strong summer fuel demand and some supply concerns.
Brent crude futures, which have risen 7% over the last four weeks, slipped 2 cents to $87.41 a barrel by 0143 GMT.
Sensex Today | Stock Market LIVE Updates | Asia stocks notch records; pound calm after Labour landslide
Asian stock markets reached new highs on Friday, buoyed by expectations of U.S. interest rate cuts in September and a positive investor sentiment. The euro reached a three-week high in anticipation of French elections.
Sterling held steady at $1.2767 amidst predictions of a decisive victory for Britain’s Labour Party, which would end 14 years of Conservative rule. Meanwhile, the dollar showed slight weakness, and Treasury yields inched up in Tokyo following the U.S. Independence Day holiday.
CRYPTO NEWS | Bitcoin down 2.5% at $56,840; Ether down 1.9% at $3,081
Stock Market LIVE Updates | Dollar at three-week lows; pound takes UK election in stride
On Friday, the U.S. dollar remained close to its lowest point in three weeks, with upcoming payroll data expected to impact interest rate expectations. Meanwhile, the British pound held steady, supported by expectations of a significant majority win for the Labour party in the UK general election.
Sterling traded at $1.27575 in early trading, showing minimal movement and staying near its recent high of $1.27765 reached on Wednesday.
