'Advancing friendship with Japan. Prime Ministers @narendramodi and @kishida230 held productive talks in New Delhi. Both leaders discussed ways to boost economic and cultural linkages between the two countries,' Modi's office tweeted.
Kotak Bank rose the most among Sensex scrips, spurting 2.92 per cent amid reports that LIC will up its stake in the private lender to 10 per cent. Gains in HCL Tech, TCS, Infosys, HDFC Bank, Bajaj Finance and Titan helped Sensex close in the green. NSE Nifty edged higher by 27.50 points to end at 17,053.95.
Nikkei is one of the largest media houses in Japan.
'We continue to believe that the global economy will narrowly avoid a recession, despite expecting the US, Canada, and most of Europe to fall into recession at some point over the next year or so.'
ONGC was the top loser in the Sensex pack, shedding around 3 per cent, followed by Sun Pharma, PowerGrid, Axis Bank, HDFC Bank, Bharti Airtel and Kotak Bank. NSE Nifty declined 124.10 points to 14,906.05.
IOC chief said he believed more than 80 per cent of residents of the Olympic Village would be vaccinated or booked for vaccination ahead of the Games
The faster-than-expected rise in interest rates by the US Federal Reserve (US Fed) shook global financial markets in early 2022. And now the ongoing war between Russia and Ukraine has lifted commodity prices, with Brent crude oil hitting a 14-year high of $139 a barrel in intraday trade. All these developments have sent the equity markets across the world into a tailspin.
Analysts suggest investors remain in a wait-and-watch mode and not jump in to buy stocks across-the-board.
On the Sensex chart, NTPC, Bajaj Auto, Tech Mahindra, ONGC and Maruti were among the major gainers.
Stock market barometers Sensex and Nifty ended marginally higher on Monday as rise in wholesale inflation capped early gains despite a positive trend in global markets. The 30-share index settled 32.02 points or 0.05 per cent higher at 60,718.71 with half of its constituents ending in green. The broad based Nifty edged up 6.70 points or 0.04 per cent to close at 18,109.45.
Major global indices - the Nasdaq, Bovespa, Seoul Composite, S&P 500, Dow Jones, S&P BSE Sensex, NYSE, DAX, Nikkei and, CAC 40 - have all gained 37 per cent to 75 per cent since their respective March 2020 low.
The impact of Shinzo Abe's towering personality is such that even in death, Abe remains a polarising figure, asserts Dr Rajaram Panda.
The headline seasonally adjusted Nikkei India Composite PMI Output Index, that maps both the manufacturing and services sectors, rose from 53.3 in June to 54.1 in July.
IndusInd Bank was the top gainer in the Sensex pack, rising around 2 per cent, followed by Axis Bank, HDFC, ICICI Bank, HDFC Bank, Kotak Bank and SBI. On the other hand, ONGC, Tech Mahindra, NTPC, Sun Pharma and TCS were among the laggards.
The Corporate Survey showed 37 per cent of firms were in favour of cancellation, while 32 per cent want a postponement.
A reading below 50 means contraction in the sector.
The government's top spokesman Katsunobu Kato told reporters on Monday he was unaware of any decision on the issue.
TCS was the top gainer in the Sensex pack, rising around 2 per cent, followed by ONGC, SBI, L&T, Infosys, HCL Tech, ICICI Bank and Axis Bank. The broader NSE Nifty surged hit a record high of 14,109.40.
Intense volatility remained amid a global selloff led by concerns over the impact China's coronavirus on world economies, analysts said. Market participants are also jittery ahead of January derivatives expiry this week, they added.
However, predictions that economic conditions will normalise after the elections underpinned optimism regarding the outlook and supported a stronger upturn in employment.
The NCEAR has indicated some improvement in the fourth quarter of the current financial year.
Among major Sensex movers, Ultratech Cement rose over 4 per cent, Bajaj Finance by 2.63 per cent and Maruti by 2 per cent. BSE Sensex closed up by 133.14 points at a record high of 47,746.22. NSE Nifty rose by 49.35 points at its lifetime high of 13,981.95.
Markets across the world are increasingly turning volatile on concerns over the global economic impact of the coronavirus after China announced sharp increases in the number of people affected in the outbreak, analysts said.
The seasonally adjusted Nikkei India Services Business Activity Index fell to 50.2 in May, from 51.0 in April, pointing to the slowest growth rate in the current 12-month stretch of expansion.
Kotak Bank was top loser among Sensex stocks, dropping by 3.28 per cent. HDFC Bank declined by 1.86 per cent, HDFC by 1.28 per cent and ICICI Bank by 0.99 per cent. SBI fell 0.5 per cent while Bajaj Finance by 0.72 per cent. Larsen & Toubro dropped 0.16 per cent.
On the job front, Indian service providers continued to add to their payrolls and the sector witnessed the second-strongest increase in employment since March 2011.
While manufacturing firms cut jobs for the first time in 20 months to sharply reduce costs, services providers continued their hiring spree.
The survey noted that advertising campaigns supported the increase in new work growth in the sector amid competitive pressures.
India's electric mobility goal, which has so far been riding on two wheels, is all set to graduate to four wheels. At least, the journey has begun. Hyundai Motor India said it would invest Rs 4,000 crore till 2028 to launch half-a-dozen electric vehicles (EVs) in India. It would eventually straddle premium and mass segments. The first of these - the electrified version of an internal combustion engine (ICE)-powered model - will go on sale as early as next year.
Dozens of Japanese towns have abandoned plans to host Olympic athletes because of concern they will overburden stretched medical resources amid a fourth wave of coronavirus infections.
Top gainers in the Sensex pack included Yes Bank, Maruti, L&T, Kotak Bank, Bharti Airtel, Bajaj Finance, SBI, ONGC, HDFC and Hero MotoCorp, rising up to 4.47 per cent.
The Nikkei India Services PMI posted above the critical 50.0 level, which separates growth from contraction, for the fourth month running in May.
Top laggards in the Sensex pack were Vedanta, IndusInd Bank, Yes Bank, Tata Steel, ONGC, Tata Motors, Sun Pharma, M&M, TCS and Hero MotoCorp, dropping up to 5.39 per cent.
The broader NSE Nifty soared 133.10 points, or 1.22 per cent, to end at 11,573.30.
While Nifty 50 reflects changes in 40 years, it also shows what is missing: Low-cost manufacturers at one end, and deep-value players at the other. Also missing are technology players, observes T N Ninan.
Addressing a parliamentary committee, medical adviser Shigeru Omi said organisers should explain to the public why they are going ahead in the middle of a pandemic.
The improvement in business conditions promoted job creation, while confidence towards the year-ahead outlook for activity was at a four-month high during March.
Nomura Group Study found that in 2019, out of the fifty-six companies which shifted their production out of China, only three of these invested in India; while 26 went to Vietnam, 11 to Taiwan, and 08 to Thailand. In April 2020, Nikkei noted that out of the 1,000 firms which were planning to leave China and invest in Asian countries, only 300 of them were seriously thinking of investing in India.
'The Olympic Spirit has been thrown to the wind in Xi Jinping's China.' 'The International Olympic Committee is ready to kowtow to totalitarian China,' notes Claude Arpi.
Indian equity, forex, money and commodity markets will remain closed today on account of Mahashivratri.
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