01/07/2021
Today, the Asian bourses have opened on a weak note. Yesterday, Nikkei index closed at 28640.22, -0.53% . Shanghai index closed at 3588.58, -0.07% down.
The BSE Sensex fell 66.95 points to 52,482.71, while the Nifty50 declined 27 points to 15,721.50.
The centre's fiscal deficit for the first two months (April-May) of 2021-22 came in at Rs 1.23 lakh crore, or 8.2 percent of the full year target of Rs 15.07 lakh crore, data released by the Controller General of Accounts showed on June 30.
The fiscal deficit for the same period last year had reached 58.6 percent of the full year target. That was in the middle of the nationwide lockdown, when the centre's revenues had all but dried up due to lack of economic activity, and expenditure commitments had increased.
The centre's net tax revenue for April-May 2021 was Rs 2.33 lakh crore, or 15 percent of the full year budget estimates, compared with just two percent for the same period last year.
Markets regulator SEBI on Wednesday extended deadlines for complying with certain regulatory requirements by stock brokers, clearing members and KYC registration agencies in view of the ongoing COVID-19 pandemic.
The deadline for maintaining call recordings of orders or instructions received from clients has been extended by one month till July 31, the Securities and Exchange Board of India (SEBI) said in a circular. Also, the regulator has given time till July-end to brokers for operating the trading terminals from designated alternate locations.
China's factory activity expanded at a softer pace in June, as the resurgence of COVID-19 cases in the export province of Guangdong and supply chain woes drove output growth to the lowest in 15 months, a private survey showed on Thursday.
The Caixin/Markit Manufacturing Purchasing Managers' Index (PMI) fell to 51.3 last month from May"s 52, marking the 14th month of expansion, but it came below analyst expectations for a only slight slowdown to 51.8.
U.S. private payrolls increased more than expected in June as companies rushed to boost production and services amid a rapidly reopening economy, though a shortage of willing workers continues to hang over the labour market recovery.
Private payrolls increased by 692,000 jobs in June. Data for May was revised lower to show 886,000 jobs added instead of the initially reported 978,000. Economists polled by Reuters had forecast private payrolls would increase by 600,000 jobs.
Japanese big manufacturers' business confidence improved in the second quarter to hit a two-and-half-year high, a central bank survey showed, a sign solid global demand was helping the economy emerge from the coronavirus pandemic-induced doldrums.
Service-sector sentiment also turned positive for the first time in five quarters, the Bank of Japan's (BOJ) "Tankan" survey showed, indicating that the economic recovery was broadening even as Japan struggles to contain a fresh wave of coronavirus infections.
FII and DII Data
Foreign institutional investors (FIIs) net sold shares worth Rs 1,646.66 crore, while domestic institutional investors (DIIs) net purchased shares worth Rs 1,520.18 crore in the Indian equity market on June 30, as per provisional data available on the NSE.
Crude Oil
Oil prices traded sideways on Thursday as investors waited for a decision from key producers on whether they would maintain or ease supply cuts in the second half of the year. Brent crude for September edged up 1 cent to $74.63 a barrel by 0048 GMT. The US West Texas Intermediate crude for August was at $73.46 a barrel, down 1 cent but near its highest since 2018 of $74.45.
Rupee
The Indian rupee weakened by another 9 paise to close at 74.32 against the US dollar on Wednesday as stronger American currency and rising crude oil prices weighed on investor sentiment. Besides, weaker Asian peers against the US dollar also put pressure on the domestic unit. On a monthly basis, the domestic currency fell by 170 paise or 2.34 percent in June. The dollar index rose 0.05 percent to 92.09.
Gold
Gold on Wednesday dipped Rs 264 to Rs 45,783 per 10 gram in line with drop-in global precious metal prices. Silver also went lower by Rs 60 to Rs 67,472 per kilogram from Rs 67,532 per kilogram in the previous trade. In the international market, gold was quoting lower at USD 1,755 per ounce and silver was trading flat at USD 25.80 per ounce.
US Markets
The S&P 500 nabbed its fifth straight record closing high on Wednesday as investors ended the month and the quarter by largely shrugging off positive economic data and looking toward Friday's highly anticipated employment report.
The Dow Jones Industrial Average rose 210.22 points, or 0.61%, to 34,502.51, the S&P 500 gained 5.7 points, or 0.13%, to 4,297.5 and the Nasdaq Composite dropped 24.38 points, or 0.17%, to 14,503.95.
Asian Markets
Shares in Asia-Pacific slipped in Thursday morning trade as investors reacted to the release of Chinese economic data. Nikkei 225 shed 0.39% while the Topix index fell 0.32%.
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