Sensex rises over 500 pts with Nifty above 16,000 pts

On market opening, Sensex rose over 500 points as Asian stocks rose at par with the US Equity stocks.

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Sensex: On market opening on Tuesday, Sensex rose over 500 points. Speculations were made about the removal of trade tariffs imposed by the Trump administration, by the Biden administration. Asian stocks had risen at par with the US Equity stocks. Asian trade shares climbed for the second day with the help of Chinese stocks. The US market was closed on Monday owing to the Independence Day celebration. 

In the most recent update, the Nifty has hit over 16000 for the first time since June 10, Sensex had also jumped above 550 points. Lenders, metals and FMCG products are the biggest gainers. 

Sensex rises over 500 points

The airline war that is currently taking place among the newly formed companies such as Akasa Air. As well as the existing airlines might have a huge effect on the revenue of the incumbent companies. Existing companies try to save their top pilots and cabin crew as the new airlines try to win them over. 

Indian dominant services industry had expanded for the first time in eleven years in June but the sharp rise in inflationary trends has become a concern for the markets as prices continue to rise. The concern for a global recession has left the markets uncertain about the future. With the onset of the monsoon, the Indian government is counting on the rains to reduce food inflation in-country. 

While the cost of oil and food inputs has significantly increased inflation. Moreover, commodity prices are beginning to show indications of stabilizing. The markets are expected to begin with a gap higher as the SGX Nifty remains unchanged from the prior spot Nifty close.

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