The markets opened on a positive note on August 12 amid mixed global cues tracking gains in index heavyweights ITC, ICICI Bank and Reliance Industries amid a largely positive trend in global markets.
Sensex was 121.41 points high or 0.22 percent up at 54,647.30 points. The Nifty40 was 30 points up or 0.18 percent higher at 16,312.30 points at opening bell.
PowerGrid was the top gainer in the Sensex pack, rising over 2 per cent, followed by ITC, M&M, Bajaj Auto, ICICI Bank and Tata Steel.
On the other hand, Kotak Bank, IndusInd Bank, Dr Reddy’s, Sun Pharma and Asian Paints were among the laggards.
In the previous session, Sensex ended 28.73 points or 0.05 per cent lower at 54,525.93, while Nifty inched up 2.15 points or 0.01 per cent at 16,282.25.
Foreign institutional investors (FIIs) were net buyers in the capital market as they purchased shares worth Rs 238.14 crore on Wednesday, as per provisional exchange data.
"Global equity markets have positive news from the US inflation data for July which has come at 0.5 per cent month-on-month. This is slightly lower than expected and confirms the Fed thesis that inflation is transitory,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said PTI.
The positive response of Dow and S&P to the inflation numbers and the decline in the dollar index will strengthen the bulls.
Data to watch out today
The India June Industrial Production y/y, India July Consumer Price Inflation y/y.
Asian stocks up
Asian shares failed to follow a strong close on Wall Street with fears about the spread of the Delta variant of the coronavirus weighing on sentiment even as tame US inflation eased fears the Federal Reserve would rush to reduce its economic support. That data also caused dollar to retreat against major currencies and US Treasury yields to edge down overnight though both were steadier in Asian hours.
MSCI's broadest index of Asia-Pacific shares outside Japan dropped 0.25 percent in early trading, dragged by a 0.24 percent decline in Chinese blue chips. The Hong Kong benchmark fell 0.2 percent while Australian shares were largel flat and Japan's Nikkei rose 0.35 percent.
Japanese wholesale prices rose in July at their fastest in 13 years, data showed on Thursday, a sigh the global commodity inflation and a weak yet were pushing up raw material import costs for a broad range of goods.
Japan WPI at fastest growth in 13 years
Japanese wholesale prices rose in July at their fastest in 13 years, data showed on Thursday, a sign the global commodity inflation and a weak yet were pushing up raw material import costs for a broad range of goods.
The corporate good price index (CGP), which measures the price companies charge each other for their goods and services, rose 5.6 percent in July, from a year earlier, Bank of Japan data showed, beating a median market forecast for a 5.0 percent gain.
Dollar near four-month peak
The dollar held near a four-month peak against major peers on Thursday after retreating overnight as a colling in consumer inflation tempered bets for an earlier tightening of US monetary policy.
Results to be released today (August 12)
The following companies will release their quarterly earnings today: Tata Steel, Eicher Motors, Hero MotoCorp, Aurobindo Pharma, BPCL, Oil India, Ashok Leyland, Bharat Forge, Ansal Properties & Infrastructure, Apollo Micro Systems, Ashapura Minechem, Avanti Feeds, Clariant Chemicals (India), Dishman Carbogen Amcis, Dish TV India, Engineers India, Finolex Cables, Gujarat Pipavav Port, GR Infraprojects, HCC, HealthCare Global Enterprises, HUDCO, Ind-Swift Laboratories, IRCON International, IRCTC, JB Chemicals, KNR Constructions, Matrimony.com, Max India, Mazagon Dock Shipbuilders, Mishra Dhatu Nigam, Minda Corporation, Natco Pharma, NMDC, Page Industries, Power Finance Corporation, RailTel Corporation of India, RCF, Redington (India), RITES, Sadbhav Infrastructure Project, Schneider Electric Infrastructure, Skipper, Sundram Fasteners, Suryoday Small Finance Bank, Thyrocare Technologies, Trident, Ujjivan Financial Services, and Venus Remedies.
Fuel prices unchanged
Petrol and diesel prices continued to remain steady across the country for the 26th straight day on Thursday, August 12, 2021. In Delhi, petrol continues to be sold for Rs 101.84 per litre, while diesel is also being sold at the unchanged price of Rs 89.87 a litre.
Across the country as well, fuel prices remained unchanged providing some relief to consumers already feeling the heat of higher inflation that has raised prices of several other commodities including food items.
In Mumbai, where petrol prices crossed Rs 100-mark for the first time ever on May 29, the fuel price is at Rs 107.83 per litre. Diesel price in the city is also at Rs 97.45, the highest among the metros.
Petrol prices in all metros have now crossed the Rs 100 per litre-mark. In Chennai, petrol is priced at Rs 102.49 a litre and in Kolkata Rs 102.08 a litre. Diesel is also priced at Rs 94.39 and Rs 93.02 per litre in both cities respectively.
International oil benchmark Brent crude rose 0.04 per cent to $71.47 per barrel.
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