Opening bell: The rupee sets a record low while the Sensex and Nifty 50 open in the green

Indices trade higher; FMCG and Telecom make significant gains, while metals, IT, and power decline.

On purchasing demand in index pivotal, the major equity indexes are currently trading with small gains. All sectoral indices on the NSE were trading in the green, except for the Nifty Metal index. The S&P BSE Sensex was up 183.8 points, or 0.34%, to 53,599.95 at 09:29 IST. To 15,985.45, the Nifty 50 index increased by 46.80 points or 0.29%. The S&P BSE Small-Cap index increased by 0.18%, while the S&P BSE Mid-Cap index increased by 0.29% in the overall market. Market breadth was substantial. 847 equities declined and 1,535 climbed on the BSE and 108 shares in total remained unchanged.

On July 14, according to preliminary data, foreign portfolio investors (FPIs) purchased shares worth Rs 309.06 crore while domestic institutional investors (DIIs) net sold shares worth Rs 556.40 crore. The month's trade deficit increased to $26.8 billion. Currently, the price of a barrel of oil is around $95.  

In June 2022, India's merchandise exports totalled $40.13 billion, up from $32.49 billion in June 2021, representing an increase of 23.52%. Compared to June 2021, when imports were $42.09 billion, they increased by 57.55% to $66.31 billion in June 2022. The expected merchandise trade imbalance in June 2022 was $26.18 billion, up from $9.60 billion in June 2021, a 172.72% increase.

On Friday, as a result of a fresh wave of rate hikes around the world, Asian markets experienced uneven trading and dropped to a two-year low. China's GDP increased by 0.4% in the second quarter as opposed to 4.8% in the first. Since the first quarter of 2020, when the Covid epidemic first appeared, China's second-quarter result represents its worst GDP print. At the U.S. central bank's policy meeting this month, Fed Governor Christopher Waller and St. Louis Fed President James Bullard said they were in support of another 75-basis-point interest rate increase.