MARKET UPDATE:Sensex surges 500pts, Nifty50 above 17,700 in pre-open deals
Published On: Thursday, August 11, 2022 | By: Team KnowMyStock
Opening Bell: The Indian equity markets are likely to open on a positive note amid supportive global cues. As of 7:50 AM, the SGX Nifty Futures quoted 17,743 levels, indicating a gap up open of over 200 odd points on the Nifty50. Globally, better-than-expected US inflation data at 8.5 percent in July cheered Wall Street on Wednesday. Dow Jones jumped 500 points to 1.6 percent, while the S&P 500 climbed 2.1 percent, and NASDAQ Composite advanced 2.8 percent. Asia-Pacific markets followed suit and climbed in Thursday's morning trade. Australia's S&P 200 rose 0.9 percent, while South Korea's Kospi was 1.3 percent higher.
Meanwhile, prices of crude oil were steady above $90 per barrel. Brent Crude hovered around $97 per barrel and WTI Crude was at $91 per barrel.
Back home, shares of Page Industries, Apollo Hospitals, Trent will be in focus as companies report their June quarter results (Q1FY23) on Thursday, July 11. Besides, Coal India, Tata Consumer Products, Eicher Motors will react in trade post their Q1FY23 numbers.
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