The marketplace prolonged the final week’s uptrend with benchmark indices gaining 0.7 percent on July 1. The rally was pushed by way of wonderful international cues after US-China said both countries will not levy any new price lists on every different.
The BSE Sensex won 291.86 factors to 39,686.50 while the Nifty 50 rose 76.70 points to 11,865.60 forming a bullish candle on the day by day charts.
The typical market breadth changed into no longer staggering, regardless of the Nifty Midcap index rising 0.17 percent and Smallcap index zero.6 percent. On the sectoral, front, the Nifty Auto, Financial Service, and Pharma indices won more than 1 percent, observed with the aid of Bank Nifty (up 0.86 percent).
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The U.S. Shares climbed however completed off earlier highs, led by way of profits in technology stocks on optimism for development in U.S.-China exchange talks and signs and symptoms of a probable reprieve for Chinese telecom company Huawei.
Despite losing a number of its preliminary steam, the S&P 500 nonetheless controlled to shut at a document high after the USA and China agreed on Saturday to resume trade talks.
Asian Markets:
Asian markets had been buying and selling combined. The Shanghai Composite changed into trading zero.25 percent lower. Hong Kong’s Hang Seng index, which back to trade after a holiday on Monday, jumped 1.04 percent. The Nikkei 225 in Japan added zero.06 percentage in morning trade, at the same time as the Topix rose 0.14 percentage. In South Korea, however, the Kospi slipped zero.12 percent.
SGX Nifty:
Trends on SGX Nifty suggest a fine beginning for the broader index in India, a rise of 20 points or zero.17 percentage. Nifty futures have been trading around 11,923-level on the Singaporean Exchange.
GST Collections:
Revenue series from the Goods & Services Tax (GST) for June stood at Rs 99,939 crore. It slipped below Rs 1 lakh crore for the primary time given that February, whilst it totaled Rs 97,247 crore.
Gross series in May and April stood at Rs a hundred,289 crore and Rs 113,865 crore, respectively.
Rupee settles nine paise better at sixty eight.94 against US dollar:
The Indian rupee surrendered most of its early gains and settled for the day 9 paise better at sixty-eight. Ninety-four against the USA dollar on Monday as investor sentiments had been revived with the aid of US-China change truce. At the interbank forex (forex), the domestic forex opened at sixty-eight. Ninety-six a dollar and won similarly strength to touch an excessive of 68.82 during the day.
The home foreign money, but, could not hold directly to the profits and fell to 69.09. The rupee ultimately settled at sixty-eight. Ninety-four a dollar, better through nine paise over its preceding near.
Steel ministry comes up with draft steel scrap policy:
The government has come out with a draft metal scrap policy, that’s geared toward curbing import dependency and make India self-sufficient with the aid of generating outstanding ferrous scrap. The draft metallic scrap policy, on which the Ministry of Steel has sought remarks from the stakeholders with the aid of July 14, pursuits to sell useful resource efficiency within the steel sector.
“The coverage envisages to set up an environmentally sound control device for ferrous scrap that could encourage processing and recycling of ferrous scraps through organized and scientific metal scrapping centers across India to minimize dependency on import of scrap and make India self-enough in scrap availability,” stated the draft metallic scrap coverage.
Unclaimed deposits in banks upward push by 27% to Rs 14,578 cr in 2018:
Unclaimed deposits inside the banking system have witnessed a bounce of 26.8 percent to Rs 14,578 crore in 2018, Parliament changed into knowledgeable on July 1. The unclaimed deposits rose to Rs 11,494 crore in 2017 from Rs eight,928 crores in 2016, Finance Minister Nirmala Sitharaman stated in a written reply to the Lok Sabha.
State Bank of India (SBI) alone had an unclaimed deposit of Rs 2,156.33 crore at the quit of 2018, she stated. About the insurance zone, the minister stated the life coverage zone reported unclaimed quantities of Rs 16,887.66 crore while non-existence became Rs 989.62 crore on the cease of September 2018.
Eight middle sectors develop utilizing five.1% in May:
The 8 core quarter industries recorded a growth of 5.1 percent in May on the lower back of healthy output in metal and energy. The 8 center area industries -coal, crude oil, natural fuel, refinery merchandise, fertilizer, metallic, cement, and energy – grew by using four.1 percent in May final year.
Steel and electricity output elevated utilizing 19. Nine percentage and seven.2 percentage, respectively, in the course of the month under evaluation. However, crude oil, refinery products, and fertilizer were inside the terrible zone. During April-May, the 8 sectors grew via five.7 percent as compared to four. Four percent inside the same period last yr.
One inventory below F&O ban duration on NSE:
For July 2, DHFL is under the F&O ban period. Securities in the ban period beneath the F&O section encompass corporations wherein the security has crossed ninety-five percent of the market-huge function restrict.
