Connect with us

Business

Indian equities open higher on US Fed’s status quo

Published

on

Mumbai: Relieved by the status quo in the US interest rates, Indian share markets opened higher on Friday in tune with most of the Asian peers.

The sensitive index (Sensex) of the Bombay Stock Exchange (BSE) opened on Friday at 26130.36 points against Wednesday’s close at 25,963.97 points — Thursday being a festive holiday. A few minutes into trading, the index was quoting at 26,196.34 points, with a gain of 232.37 points, or 0.89 percent.

At the National Stock Exchange (NSE), the trend was similar. The broader 50-scrip Nifty, which had closed at 7,899.15 points was quoting at 7,965.40 points, with a gain of 0.84 percent.

“The trend-deciding level for the day is 25,929 and 7,889 levels,” financial services firm Angel Broking said in a pre-open comment, referring to the Sensex and the Nifty, respectively.

“If Nifty trades above this in the first half-an-hour then we may witness a further rally up to 26,042-26,119 points and 7,924a “7,949 points. But if they trade below 25,929 or 7,889 levels in the first half-an-hour, then they may correct towards 25,851-25,739 and 7,864-7,828 levels.”

Till late Thursday, there was some fear of a rate hike in the US, which could have potentially seen a flight of capital from emerging markets like India to the US. In fact, during August and September, foreign funds have been net sellers of Indian equities worth Rs.20,225 crore.

Even as the global financial markets speculated over when the US central bank will end its zero-interest rate policy, the Fed Chair Janet Yellen instead opted for a status quo. While she said the US recovery was solid, concern was expressed over the global economic situation.

The reaction was mixed in the Asian markets. Japan’s Nikkei 225 fell around 1.5 percent during mid-morning trade, while Tokyo’s broader Topix was down 1.8 percent.

While China’s Shanghai Composite Index was fluctuating back and forth around the positive-negative territory, Hong Kong’s Hang Seng was up 0.66 percent and Korea’s Kosi was quoting higher by 0.56 percent around the time of the opening bell for Indian bourses.

In the US earlier, trading was marked by sharp volatility as blue-chip stocks fell, bond prices rose and the dollar posted its steepest single-day loss in a month against a basket of currencies, as the investor mood turned sullen after the Fed’s rate status quo and concerns over global economy.

All major indices took a beating — 0.39 percent for Dow Jones industrial Average, 0.26 percent for S&P 500 and 0.1 percent for the Nasdaq Composite. The dollar index, measuring the greenback against six currencies, fell 1.1 percent.

Business

Apple is giving a huge discount on its gadgets: Details inside

Published

on

If you want to buy an iPhone and were waiting for a nice offer, then we have a piece of good news for you! Amazon Summer Sale May 2022 has begun and they are offering major discounts on various smartphones, laptops, and smart TVs, among others.

The sale is live now on the e-commerce platform with no-cost EMI options and exchange discounts on various products. In addition to this, Amazon has also partnered with several banks including ICICI, Kotak Bank, and RBL so that customers get instant discounts of up to 10% using their cards and EMI transactions.

Customers can easily enjoy this summer sale and get massive discounts on iPhones. They can also compare prices on Flipkart Big Saving Days Sale 2022 before making a purchase.

 

Amazon Summer Sale May 2022: Discount offer on iPhone 13 

Apple’s coveted phone model iPhone 13 in the 128 GB storage model will be available during the Amazon Summer Sale May 2022 for Rs 64,900. The MRP of the phone is Rs 79,900. This means that the customers will be able to enjoy a discount of up to Rs 15,000 on the purchase of the iPhone 13.

If you have an old iPhone in working condition then you will also be eligible to receive another additional discount worth up to Rs 17,000 on the iPhone 13.

Buy at Rs. 64,900 (MRP – Rs. 79,900)

Features of Apple iPhone 13 

The iPhone is powered by an A15 Bionic processor with 6 core CPU. Apart from this, it has 16 core neural engines. With the iPhone 13, up to 512 GB of storage will be available. The iPhone 13 has a 6.1-inch Retina XDR display with 1000 nits brightness.

The iPhone 13 has a 12-megapixel dual rear camera setup. This time a new wide-angle camera has been given, whose aperture is f/1.6. With this, there is support for sensor optical stabilisation. Night mode has been made better than before. The second lens is also 12 megapixels ultra-wide and has an aperture of f/2.4.

Continue Reading

Trending