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"Wall Street's main indexes rose slightly on Thursday after gloomy forecasts from Meta and Qualcomm and an early reading that showed the U.S. economy contracted again in the second quarter.The Dow Jones Industrial Average added 83 points, or 0.3%. The S&P 500 climbed 0.3% and the Nasdaq Composite rose 0.2%. All of the major averages are on pace for a winning week and their best month of 2022.The US economy contracted for a second straight quarter between April and June, government data showed Thursday, fueling recession fears just months before key midterm elections in a blow for President Joe Biden.Gross domestic product declined at an annual rate of 0.9 percent in the second quarter, following a bigger drop in the first three months of the year, according to the Commerce Department.Two quarters of negative growth is commonly viewed as a strong signal that a recession is underway, and a downturn in the world's largest economy would have global consequences, as well as domestic political costs.SBI Life on Thursday reported a 17.78 per cent year-on-year (YoY) rise in net profit at Rs 262.85 crore for the June quarter compared with Rs 223.16 crore in the corresponding quarter last year.Gross written premium (GWP) for the quarter rose 35 per cent YoY to roughly Rs 11,350 crore in the June quarter, mainly due to 83 per cent growth in first-year premium (FYP) and 14 per cent growth in renewal premium.An ET NOW poll of analysts had anticipated the profit figure at Rs 260 crore.Gold in the national capital on Thursday jumped Rs 592 to Rs 51,750 per 10 grams, amid a rally in international precious metal prices, according to HDFC Securities. In the previous trade, the yellow metal finished at Rs 51,158 per 10 grams.Silver also surged by Rs 1,335 to Rs 56,937 per kg from Rs 55,602 per kg in the previous trade.The rupee appreciated 26 paise to close at 79.65 (provisional) against the US dollar on Thursday, tracking a firm trend in the domestic equities. At the interbank forex market, the local unit opened at 79.80 against the greenback and finally settled at 79.65 (provisional), registering a rise of 26 paise over its previous close.During the session, the local unit witnessed an intra-day high of 79.64 and a low of 79.85 against the American currency.On Wednesday, the rupee declined 13 paise to close at 79.91 against the US dollar.A non-bank lender backed by Gautam Adani, Asia’s richest person, is planning to raise at least 15 billion rupees ($188 million) in an initial public offering in Mumbai that could take place as early as 2024. Adani Capital’s first-time share sale will offer about a 10% stake in the shadow bank and target a valuation of around $2 billion, Managing Director and Chief Executive Officer Gaurav Gupta said.The Stoxx Europe 600 rose 0.2% as of 10:05 a.m. London timeFutures on the S&P 500 fell 0.4%Futures on the Nasdaq 100 fell 0.9%Futures on the Dow Jones Industrial Average fell 0.2%The MSCI Asia Pacific Index fell 0.2%The MSCI Emerging Markets Index was little changedConsumer goods conglomerate Nestle India Ltd said it was seeing early signs of softening of prices in commodities such as edible oil and packaging materials, against the backdrop of surging inflation. Nestle, which sells the popular Maggi instant noodles, KitKat chocolates and Nescafe coffee in the country, said on Thursday profit for the quarter ended June 30 slipped 4.3% to 5.15 billion rupees, hurt by expenses, which rose 21%.India's gold demand went up by 43 per cent during April-June quarter, but going ahead factors like inflation, Rupee-USD rates and policy measures among others are likely to influence consumer sentiments, says a report. According to a World Gold Council (WGC) report, India's April-June quarter gold demand stood at 170.7 tonnes, higher from 119.6 tonnes during the corresponding quarter in 2021."
<https://economictimes.indiatimes.com/markets/stocks/live-blog/bse-sensex-today-live-nifty-stock-market-updates-28-july-2022/liveblog/93174129.cms>