Share Market LIVE: Indices gain; Nifty tops 17,400; Realty, PSU Banks drag

Stock Market LIVE Update: Benchmark indices soared at the start on Thursday with IT stocks leading the rally. Sensex is up 150 points and Nifty is up 40. Infosys led the rally with a gain of 1.5%. Nikkei, Hang Seng, Shanghai Composite Index, and SGX Nifty are all in green on Thursday morning.

Wall Street and the Asian markets welcomed the positive economic data, upbeat corporate guidance and easing geopolitical concerns boosted investor risk appetite. Indian indices, encouraged by the response, might continue to rally and stay in green on Thursday.

Data protection bill: Hopeful of getting new legislation passed by Budget session, says Vaishnaw

After withdrawing the personal data protection bill, the government is hopeful of getting a new legislation passed by the next Budget session of Parliament, Union minister Ashwini Vaishnaw has said.

The government on Wednesday withdrew the Personal Data Protection Bill from the Lok Sabha. The Joint Committee on Personal Data Protection Bill, 2019, headed by BJP member P P Chaudhary, had tabled its report in Lok Sabha on December 16, 2021.

Vaishnaw told PTI that the joint committee gave a very good report in which they have recommended 81 amendments in a Bill of 99 sections.

Investing in the Future: 4 Sectors that Could Produce Future Multi bagger Stocks

Investing in stocks for the long-term always teaches you to identify a company which has a long runway for growth. It will all depend on the company's product or service being of some use for the next 10-15 years and not becoming obsolete.

There are many sectors out there that have this potential. These can produce future multi bagger stocks.

For example, the technology sector is known for its explosive growth in recent years. Many of the leading tech companies are already worth a lot more than they were when they went public. There’s no reason to believe this trend won’t continue.

PSU BEL's bonus shares issue decision today. Details inside

Bharat Electronics Ltd (BEL) on Monday had informed the exchanges that its board will meet today to consider the proposal of the issuance of bonus equity shares. Bonus shares are fully paid additional shares issued by a company to its existing shareholders.

India's Kotak Mahindra Prime to re-issue April 2025 bonds - traders

India's Kotak Mahindra Prime plans to raise 2.50 billion rupees ($31.50 million) through reissuance of 6.55% April 2025 bonds, three merchant bankers said on Thursday.

The company will offer a yield of 7.33% to investors and has invited bids from bankers and investors on Friday, they said.

The bonds are rated AAA by CRISIL, and the issue will close for subscription on Monday.

Rupee falls 36 paise to 79.51 against US dollar in early trade

The rupee depreciated 36 paise to 79.51 against the US dollar in opening trade on Thursday, as disappointing macroeconomic data and US-China tensions weighed on investor sentiment.

At the inter bank foreign exchange, the rupee opened at 79.21 against the US dollar, then fell to 79.51, registering a decline of 36 paise over the last close.

Rakesh Jhunjhunwala stock rises 45% in one month. Experts see more upside

Shares of Star Health and Allied Insurance Company Limited have been in uptrend for last one month. In this period, Star Health share price has ascended from around ?498 to ?719 apiece levels. recording around 45 per cent rise in this time horizon. However, stock market experts are of the opinion that Rakesh Jhunjhunwala stock may continue to rally further and hit ?780 levels in short term.

Covid-19 update: India sees another rise with 19,893 cases in 24 hours

India on 4 August reported another rise in Covid-19 cases with 19,893 new infections. This sharp rise comes after India reported 17,135 Covid-19 on 3 August after a drop in infection a day prior with 13,734 cases and 34 deaths.

According to the Health ministry data, the active cases in the country now stands at 136,478 which comprise 0.31 per cent of the total infections.

Indian rupee likely to inch higher at open on upbeat risk appetite

The Indian rupee will likely open higher versus the dollar as Asian equities and currencies rose on hopes that the global economy will be able to cope with U.S. Federal Reserve rate hikes.

The rupee is expected to open at 79.05-79.10 per U.S. dollar, compared with 79.16 in the previous session. The local unit on Wednesday snapped a four-day winning run, posting its biggest single-day decline in almost three months.

Only one stock under F&O ban on NSE today. Check here

Only one stock has been put under the ban for trade on Thursday, August 4, 2022 under the futures and options (F&O) segment by the National Stock Exchange (NSE). The counter has been put on ban under the F&O segment as it has crossed 95% of the market-wide position limit (MWPL), as per the NSE.

Auto stock Escorts continues to be part of F&O ban list by the stock exchange for today. The NSE updates the list of securities in F&O ban for trade everyday. Escorts Group is among the leading tractor manufacturing company in India pioneers in manufacturing mobile cranes, tractors, railway equipment's, construction, etc.

Bitcoin, ether, dogecoin, other crypto prices today surge. Check latest rates

Cryptocurrencies prices today surged with Bitcoin trading above the $23,000 mark. The world's largest and most popular cryptocurrency Bitcoin was trading nearly 2% higher at $23,179. The global crypto market cap today was above the $1 trillion mark, as it was up more than 2% in the last 24 hours at $1.12 trillion, as per Coin Gecko.?

India has no shortage of food grain, assures Agricultural Minister Narendra Singh Tomar

Food grain supplies in the nation are adequate to satisfy demand, according to Agricultural Minister Narendra Singh Tomar's written response to Parliament on August 2. In reference to Centrally-owned food inventories held by the Food Corporation of India and quantities held by states on the Centre's behalf, the minister said there were sufficient stocks in the "central pool."

Oil prices rebound after dropping to lowest in months on weak U.S. demand

Oil prices rose in early Asian trade on Thursday, bouncing off multi-month lows in the previous session caused by data signalling weak U.S. fuel demand.

Brent crude futures rose 53 cents, or 0.6%, at $97.31 a barrel by 0020 GMT while West Texas Intermediate (WTI) crude futures rose 55 cents, also a 0.6% gain, to $91.21. Both benchmark fell to their weakest levels since February in the previous session.

ARCIL bids for Yes Bank bad loan

Asset Reconstruction Co. of India (ARCIL) has emerged as the single challenger bidder to acquire Yes Bank’s ?48,000 crore bad loan portfolio, two people aware of the matter said. The Avenue Capital-backed ARC has also tied up with private equity firm Cerberus Capital to finance the bid, the people said on the condition of anonymity.

DRI detects ?2,217 cr customs duty evasion by Vivo India

The Directorate of Revenue Intelligence (DRI) has detected customs duty evasion of around ?2,217 crore by smartphone maker Vivo India, a subsidiary of China-based Vivo Communication Technology, a Finance Ministry statement issued Wednesday said.

During the investigation, searches were conducted by DRI officers at the factory premises of Vivo India, which led to the recovery of incriminating evidence indicating wilful misdeclaration in the description of certain items imported by it for use in the manufacture of mobile phones, it said.

India's share in USD 360-billion global space economy is 2%: Govt to Lok Sabha

The Indian government on Wednesday informed the Lok Sabha that India's share in the estimated USD 360-billion global space economy is approximately two per cent. Minister of State in the Prime Minister's Office Jitendra Singh has reportedly said that India has acquired indigenous capabilities in the space sector across all domains, including space transportation systems, and space assets comprising a fleet of satellites catering to the needs of earth observation, satellite communication, meteorology, space science and navigation, according to news agency PTI report.

LIC breaks into Fortune 500 list, Reliance jumps 51 places

Recently-listed Life Insurance Corporation (LIC) has broken into the latest Fortune Global 500 list, while Reliance Industries has jumped 51 places.

The nation's biggest life insurer with revenue of USD 97.26 billion and a profit of USD 553.8 million, was ranked 98th on the just released Fortune 500 list.

Reliance Industries jumped 51 places to 104 on the 2022 list.

This is the first outing of LIC on the list, which ranks listed companies by sales.

Gold declines ?208; silver falls ?1,060

Gold in the national capital on Wednesday declined by ?208 to ?51,974 per 10 grams, according to HDFC Securities.

The yellow metal had closed at ?52,182 per 10 grams in the previous trade.

Silver also fell sharply by ?1,060 to ?57,913 per kg from ?58,973 per kg in the previous trade.

IT industry seeks participation in consultation for fresh personal data protection bill

IT industry players have appreciated the government's move to withdraw the personal data protection bill and sought participation in the consultation process of the fresh draft.

The industry was critical of the data protection bill tabled in Parliament by the Joint Committee on Personal Data Protection Bill.

The Joint Committee on Personal Data Protection Bill, 2019, headed by BJP member P P Chaudhary had tabled its report in Lok Sabha on December 16, 2021 which had a number of different points than the draft protection data bill (PDP) Bill prepared by the Ministry of Electronics and IT.

RBI PMC meeting: Key interest rates set to return to pre-Covid levels

India’s central bank is expected to deliver another half-point increase in its main policy rate on Friday to signal it’s not letting up in its fight against inflation while fending off further attacks on the rupee.

Thirteen of 27 economists surveyed by Bloomberg as of Wednesday see the Reserve Bank of India’s six-member monetary policy committee increasing the repurchase rate by 50 basis points to 5.40%, a level last seen in August 2019. One predicted a 40 basis-point move, nine expect 35 basis points, and the remaining a quarter-point hike, which is enough to return borrowing costs to pre-pandemic levels of early 2020.

Tokyo shares open higher after US gains

Tokyo stocks opened higher Thursday following gains on Wall Street, with investors eyeing corporate earnings.

The benchmark Nikkei 225 index climbed 0.69 percent, or 191.39 points, to 27,933.29 at the open, while the broader Topix index rose 0.34 percent, or 6.50 points, to 1,937.27.

Wall Street rallies on economic data, crude falls as stockpiles jump

U.S. stocks jumped to a sharply higher close and Treasury yields touched two-week highs on Wednesday as robust economic data, upbeat corporate guidance and easing geopolitical concerns boosted investor risk appetite.

Front-month crude futures dropped following a report that U.S. stockpiles of crude and gasoline unexpectedly surged last week.

All three major U.S. stock indexes advanced and the tech-laden Nasdaq ended the session at a three-month high.

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