Stock Market Today: GIFT Nifty on the NSE IX is up by 3 points, or 0.02 percent, to close at 19,391.50, indicating that Dalal Street will open Tuesday with a flat performance. As it held levels above the significant support level of 19,250, Nifty showed signs of optimism. A break below this level can potentially lead to market discomfort and investor fears. However, there is a potential upward trajectory to the 19,500 level as long as the index maintains above the 19,250 level. A strong break over 19,500 has the potential to spark a long-lasting and significant market uptrend.
Rupee falls; Tokyo stocks opened higher
The rise in crude oil prices and selling pressure from foreign investors caused the rupee to weaken by 3 paise and end the day at an all-time low of 83.13 versus the US dollar on Monday.
After US technology companies climbed overnight, Tokyo equities began higher on Tuesday. The larger Topix index increased by 0.71 percent, or 16.01 points, to 2,257.50, while the benchmark Nikkei 225 index gained 0.92 percent, or 289.32 points, to 31,854.96 in early trading.
India’s foreign trade crosses $800 billion mark
Despite a downturn in global demand, India’s overall exports and imports of goods and services surpassed the $800 billion barrier during the first half of 2023 thanks in large part to the country’s services sectors, according to a research released on Monday by think tank GTRI.
Global Trade Research Initiative (GTRI) data shows that from January to June of this year, exports of goods and services increased by 1.5 percent to $385.4 billion, up from $379.5 billion in January to June of 2022. However, compared to the same period in 2022, when imports were $441.7 billion, imports fell by 5.9 percent to $415.5 billion during the first half of this year.
Stock Market Today: Adani increases stake in flagship firm to 69.87%
As the ports-to-energy conglomerate continues to recover from the repercussions of a report by US short-seller Hindenburg Research, the promoter group led by billionaire Gautam Adani has boosted its interest in the group’s flagship company. According to a stock market filing, the promoter group boosted its ownership in Adani Enterprises Ltd. from 67.65 percent to 69.87 percent.
Kempas Trade and Investment Ltd, a member of the promoter group with a small investment in the company, purchased 2.22 percent on the open market between August 7 and August 18, according to the statement. The increase in ownership occurs at the same time as US-based boutique investment company GQG Partners has begun purchasing Adani group companies’ stock.
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