Asian Shares Advance Following Upbeat U.S. Jobs Report
Friday, 3 July 2020 Tokyo’s Nikkei 225index picked up 0.3% to 22,211.89, while the Shanghai Composite index jumped 1% to 3,121.74. In South Korea, the Kospi gained 0.4% to 2,142.74, and Australia’s S&P/ASX 200 rose 0.1% to 6,037.60. India’s Sensex added 0.5% to 36,009,96. Shares also rose in Taiwan and Southeast Asia. Investors appeared to shrug off news of rising numbers of coronavirus patients in South Korea and Japan, where Tokyo reported 124 newly confirmed cases. The jobs data and improved global indicators are boosting sentiment, along with positive reports on potential vaccines and treatments for the coronavirus that has infected...
The Shanghai Composite has soared 15% this month, but Invesco's Kristina Hooper says it's not too late to get exposure to Chinese stocks. She tells Reuters' Fred Katayama that they're the "stars" of the emerging market world.
Equity benchmark indices continued their upward momentum on Friday but the gains in IT and realty sectors were capped by PSU banks. At the closing bell, the BSE SandP Sensex was up by 178 points or 0.5 per cent at 36,021 while the Nifty 50 edged higher by 56 points or 0.53 per cent at 10,607. Sectoral indices at the National Stock Exchange were mixed with Nifty IT and realty gaining by 1 per cent each but PSU bank down by 0.9 per cent. Among stocks, Eicher Motors was up by 4.18 per cent at Rs 19,121 per share while Hero MotoCorp accelerated by 2.6 per cent, Bajaj Auto by 1.9 per cent and Tata Motors by 1.8 per cent. Adani Ports closed 4.1 per cent higher at Rs 361 per share. Tata Consultancy Services gained by 1.7 per cent while Bharti Airtel and Bharti Infratel were up by 4 per cent and 1.8 per cent respectively. Reliance Industries edged higher by 1.53 per cent to Rs 1,785.50 per share after Intel Corp said it will invest Rs 1,894 crore in Jio Platforms in exchange for a 0.39 per cent stake, the latest big-ticket investment in its digital unit. But metal stocks fell with JSW Steel and Tata Steel down by 1.7 per cent each and Hindalco by 1 per cent. IndusInd Bank, HDFC Bank, Bajaj Finance and Bajaj Finserv too traded with a negative bias. Meanwhile, Asian shares rallied to a four-month high on robust US payrolls data and a brisk pickup in Chinese service sector activity. Shanghai Composite closed 2.01 per cent higher. Japan's Nikkei rose by 0.72 per cent while Hong Kong's Hang Seng was up by 0.99 per cent.
Equity benchmark indices closed marginally lower on Friday in line with Asian peers following a record contraction in economic data from the United States. The BSE SandP Sensex was down by 129 points or 0.34 per cent at 37,607 while the Nifty 50 slipped by 29 points or 0.26 per cent at 11,073. Sectoral indices at the National Stock Exchange were mixed with Nifty pharma gaining by 3.5 per cent and PSU bank by 1.4 per cent. But Nifty financial service, private bank and auto were in the red. Among stocks, Reliance Industries lost by 1.84 per cent to Rs 2,070 per share on profit-booking, a day after it reported over 30 per cent jump in Q1 net profit at Rs 13,248 crore. Eicher Motors slipped by 2.7 per cent, Bajaj Auto by 1.6 per cent and Hero MotoCorp by 1.2 per cent. HDFC Bank, HDFC and HDFC Life lost by 1.6 per cent, 1.3 per cent and 1.2 per cent respectively. The other prominent losers were Kotak Mahindra Bank, Wipro and Asian Paints. However, Sun Pharma moved up 5.4 per cent to close at Rs 537.80 per share while Cipla witnessed a gain of Rs 5.1 per cent. JSW Steel, State Bank of India, Axis Bank, HCL Technologies and Tata Motors too traded in the green. Meanwhile, Asian shares slid as abysmal economic data from the United States and rising global COVID-19 cases weighed on sentiment. US GDP collapsed at a 32.9 per cent annualised rate in the second quarter, the deepest decline on record, while jobless claims rose last week. Japan's Nikkei dropped by 2.82 per cent, Hong Kong's Hang Seng by 0.47 per cent and Seoul's Kospi by 0.78 per cent.
Equity benchmark indices swung nearly 1 per cent lower during the afternoon session on July 30 ahead of the expiry day of monthly futures and options contracts. At the closing bell, the BSE S and P Sensex was down by 335 points or 0.88 per cent at 37,736 while the Nifty 50 lost 101 points or 0.9 per cent at 11,102. Most sectoral indices at the National Stock Exchange were in the red except for Nifty pharma which gained by 3.1 per cent and IT which crawled up by 0.6 per cent. Nifty bank slipped by 2 per cent, financial service by 1.8 per cent and metal by 1.2 per cent. Among stocks, energy majors were big losers with Bharat Petroleum Corporation down by 8 per cent to Rs 417.80 per share. IndianOil Corporation dipped by 4.1 per cent, ONGC by 2.4 per cent and Power Grid Corporation by 2.3 per cent. Banking scrips too witnessed losses with IndusInd Bank dipping by 5.4 per cent, Axis Bank by 3.4 per cent and State Bank of India by 2.4 per cent while home loan lender lost by 3.6 per cent. Pharma stocks, however, witnessed handsome gains with Dr Reddy's advancing by 4.6 per cent to close at Rs 4,500 per share. Sun Pharma and Cipla were up by 3.7 per cent and 0.8 per cent respectively. Wipro, Infosys, Vedanta, Maruti Suzuki, Britannia and Reliance Industries too traded with a positive bias. Meanwhile, Asian stocks were flat as the US Federal Reserve members voted to leave the target range for short-term rates between 0 and 0.25 per cent to support the country's virus-battered economy. Japan's Nikkei and Hong Kong's Hang Seng were down by 0.26 per cent and 0.69 per cent but South Korea's Kospi moved up by 0.17 per cent.
Equity benchmark indices were subdued during early hours on July 07 in lacklustre trading amid mixed cues from Asian peers. At 10:15 am, the BSE S and P Sensex was up by 78 points or 0.21 per cent at 36,565 while the Nifty 50 edged up by 10 points or 0.09 per cent at 10,774. Most sectoral indices at the National Stock Exchange were in the red except for Nifty IT which moved up by 1.7 per cent, pharma by 0.8 per cent and auto by 0.5 per cent. IT stocks appeared to be the flavour of the day with Infosys gaining by 2.6 per cent to Rs 784.50 per share. Wipro was up by 1.6 per cent, HCL Technologies by 1.5 per cent and Tech Mahindra by 1.3 per cent. Auto stocks also gained marginally with Bajaj Auto and Tata Motors moving up by 1.6 per cent each and Maruti Suzuki by 1.1 per cent. However, Power Grid Corporation slipped by 2.5 per cent to Rs 173.40 per share. Grasim was down by 2.4 per cent, ONGC by 2.1 per cent, ITC by 1.7 per cent and Tata Steel by 1.6 per cent. Meanwhile, Asian indices traded mixed despite a strong close on Wall Street overnight. In Japan, Nikkei traded down by 0.7 per cent as the market participants seemed concerned over the rising number of new Covid-19 cases in Tokyo.
Equity benchmark indices advanced by 1.5 per cent on July 17 following heavy buying in energy and financial stocks. At the closing bell, the BSE SandP Sensex was up by 548 points or 1.5 per cent at 37,020 while the Nifty 50 edged higher by 162 points or 1.51 per cent at 10,902. Except for Nifty IT which dipped by 0.6 per cent, all sectoral indices at the National Stock Exchange were in the positive zone with Nifty financial service up by 1.9 per cent, PSU bank by 1.8 per cent and private bank by 1.7 per cent. Among stocks, Bharat Petroleum Corporation was the top gainer after moving up by 12.4 per cent to Rs 442.85 per share. While JSW Steel gained by 3.9 per cent to Rs 209.05.
Equity benchmark indices traded lower during early hours on July 14 due to weak global cues amid persistent concerns over the record number of new coronavirus cases worldwide. At 10:15 am, the BSE S and P Sensex was down by 262 points or 0.71 per cent at 36,432 while the Nifty 50 edged lower by 81 points or 0.75 per cent at 10,721.Except for Nifty pharma and IT, all sectoral indices at the National Stock Exchange were in the red with Nifty PSU bank down by 2.1 per cent, private bank by 2 per cent, financial service by 1.7 per cent and metal by 1.4 per cent. Among stocks, Bharat Heavy Electricals Ltd (BHEL) plunged 6.4 per cent after research house Citi downgrade it to sell from neutral with a target at Rs 34 per share. Both HDFC and HDFC Bank slipped by 3.3 per cent and 2 per cent respectively after the latter conducted a probe into allegations of improper lending practices in its vehicle-financing operation.
Traders booked profit and equity benchmark indices ended marginally lower on July 10 following a decline in global peers amid surging coronavirus cases. The BSE S and P Sensex settled 143 points or 0.39 per cent lower at 36,594 while the Nifty 50 sank by 45 points or 0.42 per cent at 10,768.Sectoral indices at the National Stock Exchange were mixed with Nifty PSU bank down by 2.6 per cent, private bank by 2.3 per cent, financial service by 1.9 per cent and metal by 0.7 per cent. Among stocks, private lender Axis Bank slipped by 3.2 per cent to close at Rs 439.20 per share. ICICI Bank was down by 2.8 per cent, IndusInd Bank by 2.7 per cent and State Bank of India by 1.8 per cent.The other prominent losers were HDFC, JSW Steel, GAIL, Titan and Adani Ports.However, Reliance Industries jumped by 3.1 per cent to wind up the day at Rs 1,881 per share. Sun Pharma closed 2.2 per cent higher while FMCG majors Hindustan Lever, Britannia and Nestle India were up by 2.5 per cent, 1.5 per cent and 0.4 per cent respectively.
Equity benchmark indices swung upward for the fourth consecutive day on Tuesday with buying across several counters. The BSE SandP Sensex closed 519 points or 1.49 per cent higher at 35,430 while the Nifty 50 edged higher by 160 points or 1.55 per cent at 10,471. Larsen and Toubro jumped by 6.73 per cent to Rs 968.50 per share after the engineering and construction multinational called for reduction in India's dependence on imported products, including those from China, and called for a feasible Make in India ecosystem. Shares of IndusInd Bank rose 6.5 per cent to Rs 521.90 after the private sector lender said that its promoter had acquired additional shares of the bank through open market purchases. Bajaj Finance rose by 9.2 per cent while NTPC was up by 5.7 per cent, Hindalco by 5.4 per cent, UPL by 3.8 per cent, Power Grid Corporation by 3.7 per cent and Axis Bank by 3.3 per cent. However, Reliance Industries dropped by 1.4 per cent to Rs 1,721.70 per share on profit booking along with Bharti Airtel, Vedanta and Maruti Suzuki. Meanwhile, Asian shares see-sawed in a wild ride following confusing statements from the White House over the US-China trade deal with President Donald Trump later clarifying the pact was fully intact. Hong Kong's Hang Seng climbed by 1.62 per cent and Japan's Nikkei added 0.5 per cent while South Korea's Kospi inched up by 0.21 per cent
The World Health Organisation's Regional Director for South-East Asia, Poonam Khetrapal Singh on July 22 hailed India's response to COVID-19 pandemic. "India is responding with utmost urgency to COVID19 from start. It's been continually strengthening preparedness and response measures, including ramping up testing capacities, readying more hospitals, arranging and stocking up medicines and essentials," said Poonam Khetrapal Singh. "We are aware of varying capacities at sub-national levels. Not unusual in country as big as India and its population size, that measures taken may often not be uniformly sufficient across all areas. Scaling up capacities and response remains constant need in India," Dr Poonam Khetrapal Singh
Equity benchmark indices suffered slight cuts during early hours on Friday following a decline in global peers amid surging coronavirus cases. At 10:15 am, the BSE SandP Sensex was down by 36 points or..