02 Aug , 2022 By : Monika Singh
Share Market News Today | Sensex, Nifty, Share Prices LIVE: Sensex and Nifty extended their rally on Monday as the headline indices and broader markets soared higher. S&P BSE Sensex jumped 545 points or 0.95% to end at 58,115, while the NSE Nifty 50 index settled at 17,340, up 1.06%. India VIX, however, was also seen soaring higher ending above 17 levels. Entering Tuesday’s trade, SGX Nifty was down in the red, suggesting a reversal could be on the cards after the sharp up-move in recent days. Global cues were weak after Wall Street slumped and Asian stock markets mirrored the fall.
GST collection in the month of July clocked in at Rs 1.49 lakh crore, up 28% from the year-ago period, aided by booming economic activity, improved compliance, high inflation and a broadening of the tax base. The monthly average mop-up in the April-July period was an impressive Rs 1.5 trillion, up 35% on year. If this pace is sustained through March 2023, gross GST receipts in the current financial year, including compensation cess proceeds, may exceed the estimate by a neat Rs 3 trillion, allowing the Centre to appropriate an additional Rs 80,000 crore after devolution to the states.
Sensex and Nifty started Tuesday's trade in the red with Sensex giving up 58,000 mark and Nifty 50 slipping below 17,300.
Sensex and Nifty were down in the red with marginal losses ahead of the opening bell on Tuesday morning.
“The market message from the sharp decline in the US 10-year bond yield to 2.57% from the recent high of 3.27% is that the Fed is nearing the end of its tightening cycle with only one more large hike in September and small hikes thereafter taking the terminal rate to around 3.5%. This has facilitated the rally in global markets with India emerging as one of the best performers. There is a consensus that India will be the fastest growing large economy in the world this year and next with the least vulnerability to a global growth slowdown. This, and the dollar index dipping to below 106 from the recent high of above 109, have paved the way for the return of FIIs who have turned consistent buyers now. The 2100-point rally in Nifty from the June lows has pushed the market into overbought territory with rising valuations. Markets are likely to consolidate in the near-term. Capital goods and autos (the PV and CV segments) are on a strong wicket,”
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