Good Morning Everyone, Very exciting days in Indian market history as Nifty has scaled to record highs along with the US markets, making it the only 2 markets across the globe that has emerged the strongest. Don't have a trading account yet? Click here to open your account in 10 minutes and start investing in sharemarket from today. We tell you what, when & how to buy and sell in the stock market with complete support & guidance from MPI Invest. Click here to read what our clients speak about us.
We are proud that the Indian stock market has grown more than 21% YTD and is the fastest-growing stock market in the entire world for 2021.
US markets continued to hit all-time high along with the Indian market. The Dow Jones Industrial Average rose 37.18 points, or 0.11%, to 35,437.02, the S&P 500 fell 0.25 points, or 0.01%, to 4,528.54, and the Nasdaq Composite lost 18.41 points, or 0.12%, to 15,247.48.
Asian markets are still trading cautiously with concerns over slowing global growth in several markets, which makes India a stronger economy to invest in as of date. It may not be long before India emerges as the fastest-growing economy in Asia.
MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.40%. Japan’s Nikkei gained 0.89% while Australian shares fell 0.58%.
China's factory activity slipped into contraction in August for the first time in nearly 1-1/2 years as COVID-19 containment measures, supply bottlenecks and high raw material prices weighed on output in a blow to the economy.
We saw that there was huge buying in the Indian market yesterday by the FIIs which led Nifty to record high closing of 17132. We might see some more buying by the FIIs in the coming days with increased confidence in the market, but along with that, we might see the DIIs booking some profit at higher levels. Now that market has risen up so much, there can be some chances of consolidation too. However, any big profit booking can be confirmed only when Nifty breaks the 17000 levels now.
Trends on the SGX Nifty indicate a flat start to the Nifty, however, major action can be seen after 12 pm as the FIIs get active. Let us wait n watch where it exactly heads to today?
India reports strong Q1 GDP. The gross value added (GVA) at basic prices in 2011-12 prices in April-June this year stood at Rs 30,47,516 crore, lower by 13 percent compared to Rs 35, 15,963 crores in the last quarter (January-March) of 2020-21. The GVA at basic prices in 2011-12 prices in April-June this year stood at Rs 30,47,516 crore, lower by 13 percent compared to Rs 35, 15,963 crores in the last quarter (January-March) of 2020-21.
Also, the GVA during the first quarter of this year was lower by 7.7 percent compared to Rs 33,05,273 crore in the first quarter of 2019-20, the immediate pre-pandemic year.
The output of eight core sectors grew by 9.4 percent in July, mainly due to a low base effect and uptick in production of coal, natural gas, steel, cement, and electricity, official data showed on Tuesday.
The eight infrastructure sectors of coal, crude oil, natural gas, refinery products, fertilizers, steel, cement, and electricity had contracted by 7.6 percent in July 2020 due to the nationwide lockdown imposed to control the spread of COVID-19.
According to the commerce and industry ministry data, production of coal, natural gas, refinery products, steel, cement, and electricity jumped by 18.7 percent, 18.9 percent, 6.7 percent, 9.3 percent, 21.8 percent, and 9 percent in July, respectively.