On Tuesday (July 15), receiving positive indications from the global markets, the Indian stock market opened with an increase. On the domestic front, investors have breathed a sigh of relief despite the June month’s retail inflation figures being soft. The 30 -share BSE Sensex today opened at around 82,233.16 points. As soon as it opened, it saw a boom. At 9:25 am, it was trading at 82,412.51 at 82,412.51 at 9:25 am or 0.19 percent.
Meanwhile, today the market move will depend on many factors. These include India’s June CPI inflation figures, the second quarter GDP figures of China, the US June inflation figures, the first quarter results, threats related to US President Donald Trump and signs of the global market.
Trade agreement efforts intensified with America
Commerce and Industry Minister Piyush Goyal said on Monday that the talks on the trade agreement between India and the US are moving fast. Meanwhile, a team of officers led by Rajesh Aggarwal, the chief negotiator and Special Secretary of the Department of Commerce, has reached Washington. Goyal said, “Trade talks between the two countries are going on fast so that we can reach an agreement that is beneficial for both sides.”
The negotiations for the interim agreement have reached a significant turn for the final look at India before August 1 on the end of the agreement or the increasing pressure to face 26 percent retaliation fee. But it is still not clear whether the two sides will be able to finalize any interim agreement after the current round of talks.
What are the indications from global markets?
On Tuesday, Asian markets saw a faster. Investors ignored the uncertainty of the changing trend of US President Donald Trump and focused their focus on China’s economic figures. Japan’s Nikkei index was trading with a gain of 0.4 percent and a comprehensive subject index 0.3 percent. Kospi rose 0.29 percent and ASX 200 increased by 0.6 percent. The US benchmark index closed on Monday. S&P 500 rose 0.14 percent to 6,268.56, Nasdaq Composite rose 0.27 percent to 20,640.33 and Dow Jones Industrial Average increased by 0.20 percent to 44,459.65.
China’s economic growth in the second quarter was slightly slow due to the ongoing trade tension with the US, frequent defamation pressure and long -running recession in the property sector. This increased the demand for strong policy support from China. According to the statistics released by the National Bureau of Statistics on Monday, China’s GDP increased by 5.2 percent year after-year during the April-June period. This is slightly higher than expected of 5.1 percent of economists. But this is less than an increase of 5.4 percent in the first quarter.
Retail sales in June rose 4.8 percent as compared to the previous year, below the 6.4 percent increase in May and is less than an estimate of 5.4 percent. On the other hand, industrial production increased by 6.8 percent on an annual basis. This is more than a common estimate of 5.7 percent.
