Stock Market Live: Signs of a volatile start in Asian markets

MSCI’s broadest index fell 0.46%

MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.46%, trailing some of the previous day’s 1.8% gain, and was heading for last week’s two-year low.

Yellen says America will impose consequences on countries that abuse the economic system

US Treasury Secretary Janet Yellen said on Tuesday that the US would impose harsh consequences on countries that break the international economic order. “Russia has made economic integration a weapon,” she said, calling on all responsible countries to unite in opposing Russia’s war in Ukraine. Yellen said in remarks prepared for the event that he was pleased with talks with Korean counterparts on a proposed limit on the price of Russian oil.

Center to hold all-party meeting on Sri Lanka crisis today

Parliamentary Affairs Minister Pralhad Joshi said in the all-party meeting on Sunday that Finance Minister Nirmala Sitharaman and External Affairs Minister S Jaishankar will brief the leaders of all political parties in both the Houses of Parliament in the meeting.

In the all-party meeting on Sunday, both the DMK and AIADMK leaders had urged the Center to intervene in the crisis to help the neighboring country resolve its crisis.

Sri Lanka is facing an economic and political crisis characterized by inflation and severe shortages of fuel and other essential supplies. Gotabaya Rajapaksa, 73, went into hiding after protesters stormed his residence on July 9 and the Speaker of Parliament accepted his resignation. The 225-member parliament will elect a new president by voting on July 20.

Bharat Electronics stock hits new 52-week high on strong Q1 execution

Shares of Bharat Electronics rose 6.2 per cent in opening deals on Monday to hit a 52-week high 260.80 each on the National Stock Exchange. The company’s June quarter (Q1FY23) performance exceeded expectations, giving the stock good returns from investors.

Standalone revenue jumped 90.4% year-on-year (YoY) 3,112.8 crore in Q1, helped by a low base from the previous year, when operations were hit as there was a second wave of the coronavirus pandemic. Nevertheless, strong execution was a key factor driving growth in the June quarter.

China’s Covid cases near 700 as Shanghai widens testing

While Shanghai’s COVID situation is less dire, city officials, which ended a two-month lockdown during April and May, are taking no chances – rolling out a testing blitz in 12 of the city’s 16 districts. Karna, which houses about 20. Lakhs of people

Apple joins tech giants Amazon, Google, Microsoft to crack down on hiring

The iPhone maker is looking to limit spending and job growth in some of its divisions, Bloomberg reported on Monday, though Apple hasn’t adopted a company policy. A more cautious approach Amazon.com Inc., Alphabet Inc. of Google and Microsoft Corp. It mimics the approach of its tech peers, including those who have taken all steps to reduce spending. ,read more,

Stocks to watch: Bank of Maharashtra, Heidelberg Cement, Reliance, NTPC

Hindustan Unilever, HDFC Life Insurance, Ambuja Cements, ICICI Lombard, AM Small Finance, Polycab, Hatsun Agro, L&T Finance Holdings and Network18 will be in media focus as they announce their June quarter earnings today. ,full report,

Hong Kong shares fell in the open

Stocks in Hong Kong fell at the open on Tuesday after a report that Apple was pulling back on some investments over concerns about an economic slowdown. The Hang Seng index fell 0.61% or 126.98 points to end at 20,719.20. The Shanghai Composite Index was flat at 3,278.72, up 0.62 points.

Dollarize your investments, suggests Ashish Chanda

Mr. Ashish Chanda, Founder and CEO, Crystal.AI, a global wealth advisory platform, on how the rupee’s depreciation will affect investors looking at it from a global investment perspective, says, “It is a clear indication that global investors are European. Choosing the security of US markets over the risks of a union recession. The imminent threat of Russia cutting gas supplies in the winter, as well as a slow intervention by the ECB to control inflation, mean a recession in the EU looks imminent. So investors are selling euros and buying dollars. It also reinforces the importance of the USD as the safest currency in times of uncertainty. As an Indian investor, one is advised to dollarize their investments as the rupee is expected to depreciate further this year.

Gold stable near 11-month low

Bullion is trading above the $1,700 an ounce level as it is putting pressure on the US dollar, indicating the prevailing caution in the global markets. Still, a gauge of the greenback has backtracked from a record hit last week.

Rupee on Monday closed at 79.98 against the US dollar

For the first time in intra-day spot trading on Monday, the rupee fell to as low as 80 against the US dollar. At the end of the session, the rupee was trading 16 paise lower at 79.98 amid spurt in crude oil prices and foreign fund outflow.

Traders Wait Tight Markets, OPEC+ Plans as Oil Remains Above $100

Oil markets have seen volatile trading in recent weeks as traders navigate concerns that an impending recession will hurt demand, a fall from a stronger dollar, and signs that underlying physical conditions remain tight. At the same time, the US is proceeding with a plan to try to lower Russian crude oil prices to starve Moscow of the money needed to sustain its invasion of Ukraine.

Stocks closed lower on Wall Street Monday

The S&P 500 fell 0.8% after being up 1% in the opening round. The S&P 500 closed 32.31 points lower at 3,830.85. The Dow shed 215.65 points at 31,072.61 and the Nasdaq shed 92.37 points at 11,360.05.