Japan’s Nikkei share average topped its all-time peak on Thursday, after unexpectedly strong revenue forecasts from U.S. chip designer Nvidia lifted Asian tech stocks. However, the regional mood was tempered by the struggle in Chinese stock markets to extend multi-month highs reached amid Beijing’s stimulus efforts.
Long-term U.S. bond yields hugged three-month highs while the dollar sagged after minutes from the last Federal Open Market Committee meeting confirmed the view that interest rate cuts would be slow in coming, but weren’t markedly more hawkish than the Fed’s previously expressed views. The Nikkei 225 share average surged as much as 2% to reach 39,029.00, topping the previous all-time high of 38,957.44, set on Dec. 29, 1989, at the peak of…
The Indian equity indices closed on a negative note for the second trading session on May 29. The Nifty 50 closed 183 points or 0.80% lower at 22,704.70. Similarly, the BSE Sensex settled down 667.55 points or 0.89% lower at 74,503. Bank, financial services, and IT stocks were the major draggers. HDFC Life Insurance, SBI Life Insurance, ICICI Bank, Tata Consumer Products, and Tech Mahindra were the major losers in the Nifty 50 on May 29.
Sectoral indices lower
The Nifty Midcap 100 dipped 169 points or 0.32% to settle at 52,125.75. Nifty Bank closed 640.80 points or 1.30% at 48,501.35. In the broader market, smallcap and midcap stocks closed in the red.
‘Minorities targeted in BJP-ruled states deeply troubling’: Congress slams bull…
GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 might see a muted opening on Monday. Here is all you need to know before the market opens.
GIFT Nifty was up 22.50 points, or 0.09%, at 24,406 indicating a positive start for the domestic indices NSE Nifty 50 and BSE Sensex on Monday. Previously, on Friday, the NSE Nifty 50 closed 251 points or 1.04% higher to settle at 24,368, while the BSE Sensex rose 820 points or 1.04% to finish at 79,706.
Key things to know before share market opens on August 12, 2024
Hindenburg Research Row
The US-based short-seller Hindenburg Research in a new report alleged that SEBI chairperson Madhabi Puri Buch and her spouse held hidden stakes i…
Indian equity indices ended on a higher note, paring the three-day losing streak. The NSE Nifty 50 rose 305 points or 1.27% to settle the day’s trading at 24,298. The BSE Sensex settled 875 points or 1.11% higher at 79,468. HDFC Bank, Infosys, ONGC, L&T, and Coal India contributed the most to Nifty 50.
Sectoral Index
The Bank Nifty rose 370.70 points or 0.75% to end the session at 50,119 ending above the key psychological level of 50,000. Albeit, the Nifty Midcap 100 outperformed the overall markets, rising more than 1300 points or 2.45% settling the day’s trading at 56,873. In the broader markets, smallcap and midcap stocks closed in the green.
“Global markets experienced a notable rebound after the BoJ’s Deputy Governor reassur…
Honasa Consumer, the parent company of popular brand Mamaearth, witnessed a 3.5% increase in its stock amidst volatile trading. This surge followed Jefferies India’s initiation of coverage, giving the stock a high conviction buy rating and revising its target price to Rs 520 per share.
Jefferies predicts an impressive 57% growth for Honasa Consumer in the next three years. Despite acknowledging potential challenges such as tough competition, M&A, and slow brand expansion, the brokerage remains optimistic about the company’s prospects. It anticipates double-digit growth in the BPC (Beauty and Personal Care) segment, stable online sales, and foresees a positive trajectory for the company.
The Tata Tech IPO was oversubscribed nearly 70 times and slated to list on November 30. In an interaction with Financial Express Online, Warren Harris, CEO & MD, Tata Technologies said that the response will surely help “improve brand perception.” The company is currently focussing on building capabilities across multiple dimensions.
New addition of large ER&D spenders, expansion of digital engineering and embedded software capabilities, strengthening service delivery and expanding client base in the education sector are some of the core areas that Tata Tech is focussing on.
Here is an excerpt of an interview with Warren Harris, CEO & MD, Tata Technologies
Shares of Sugar companies tumbled up to 3 per cent in the morning trade on Thursday after the government announced a hike in the minimum price that mills have to pay to sugarcane growers for the 2024-25 season starting October.
The scrip of Rana Sugars plunged 3.21 per cent to Rs 25.35 apiece, Mawana Sugars slumped 2.81 per cent to Rs 101.70, Rajshree Sugars & Chemicals tumbled 2.50 per cent to Rs 72.62, Shree Renuka Sugars declined 2.41 per cent to Rs 48.50, KCP Sugar & Industries declined 2.20 per cent to Rs 40.87, and EID Parry (India) slipped 1.57 per cent to Rs 629.20 apiece on the BSE. Also, Dalmia Bharat Sugar and Industries went lower by 1.15 per cent to Rs 403.15 per piece, Balrampur Chinni Mills fell 1.12 per cent to Rs 376.50, Dhampur Sugar Mills down by …