Stock Market Live Updates: Asian stocks open higher amid tech sector strength from Wall Street

Stock Market Live Today: Kotak Cherry CEO cautions amid Nifty 50’s record high

Srikanth Subramanian, CEO, Kotak Cherry said “Its a liquidity driven rally due to positive sentiments around India that has help Nifty 50 index scale new all time high of 20000. However investors should exercise caution when treading in the market. Nifty 50 PE now goes closer to 25, which by any standard isn’t cheap. While markets are aggresive in terms of valuation, midcap and small cap stocks in particular, investors should clearly stay away from noise and make an informed choice. Meanwhile, the trajectory for broader markets from here onwards will depend on corporate earnings, inflation and interest trajectory, Oil Prices and of course the geopolitical situation, all of which, at this stage, augurs well for India”

Stock Market Live Updates: Kotak research stops recommendations on mid-, small-cap stocks

Kotak Institutional Investors has dropped recommendation on the mid-cap space as it cannot see too many options beyond the BFSI space that offer decent potential upside from their fair value.

There are limited points in trying to find fundamental reasons behind the steep increase in stock prices of several mid- and small-cap stocks with no meaningful changes in the fundamentals of most companies and, in fact, they have worsened in many cases.

Economy Watch: Retail inflation expected to range from 6.8% to 7.1% for August

The government will release the retail inflation number based on the Consumer Price Index (CPI) for August and the industrial growth number for July on Tuesday. While the expectation is that retail inflation could range from 6.8 to 7.1 per cent, the industrial growth rate could be 5 per cent.

Retail inflation for July was 7.44 per cent. The industrial growth rate in June was recorded at 3.7 per cent.

Stock Market Live Today: Japanese stocks open higher amid tech sector strength from Wall Street

Japanese stocks started the day with gains, mainly driven by the strong performance of technology shares on Wall Street. As of 6:30 am, the Nikkei 225 index was up by 0.56%, equivalent to 182.76 points, reaching 32,651.75, and the broader Topix index increased by 0.44%, or 10.10 points, standing at 2,370.58. In contrast, South Korea’s Kospi index showed weakness, declining by 0.21% to 2,551.59. The previous night on Wall Street saw the Nasdaq rising by 1.1%, the S&P 500 gaining 0.7%, and the Dow Jones Industrial Average increasing by 0.3%.