Opening Bell:
SGX Nifty is down by 29.0 points in the early morning trade, indicating a negative opening for Indian stock market.
Asian markets are mixed today. The Nikkei 225 is up 0.65% while the Shanghai Composite gains 0.22%. The Hang Seng is off 0.22%. US stock markets paused on Monday after a strong rally in the prior session as investors shift focus to a key inflation reading later this week. According to preliminary data, the S&P 500 gained 0.04%. while the Nasdaq Composite gained 0.16%. The Dow Jones Industrial Average fell 0.16%.
Stocks News:
?State-owned Canara Bank on Monday reported a 74 per cent jump in March quarter consolidated net profit to Rs 3,336.51 crore, helped by higher core income and lower provisions.
?Mahanagar Gas profit came in at Rs 268 crore for the fourth quarter. Revenue from operations during the same period stood at Rs 1,610 crore.
?Pidilite Industries Ltd on Monday reported a 12 per cent increase in consolidated net profit at Rs 285.86 crore for the fourth quarter ended March 2023, led by moderation in input costs and growth in domestic demand.
?arti Industries has reported a net profit of Rs 149 crore for the quarter ended March, while revenue from operations came in at Rs 1,656 crore.
?Foreign portfolio investors (FPIs) have net purchase shares worth Rs 2,124 crore on Monday. DIIs, on the other hand, stock worth Rs 245 crore.
Domestic and International Events
- India will propose a SWIFT-like system used in international banking at the G20 meet to facilitate similar paperless transactions for cross-border trade. The system will be based on an electronic bill of lading in the form of an interoperable digital document that is expected to boost trade and investment.
- Leading real estate investment trust Nexus Select Trust on May 8 raised Rs 1,440 crore from 20 anchor investors ahead of its IPO opening. The company in its filing to exchanges said it has finalised the allocation of 14.39 crore units to anchor investors at a price of Rs 100 per unit.
- Oil prices fell in early trade on Tuesday, paring strong gains from the previous two sessions as markets remain cautious ahead of U.S. inflation figures for April which will be key to the Federal Reserve’s next interest rate decision.
- Gold edged higher on Monday, regaining some ground after a retreat in the previous session and ahead of inflation data this week that could provide clues on the outlook for U.S. interest rates. Spot gold rose 0.2% to $2,021.37 per ounce by 3:15 p.m. ET (1915 GMT). U.S. gold futures settled up 0.4% at $2,033.20.
Key Equity Indices
| EMERGING | LATEST | % 1D |
| Hang Seng | 20,297 | 1.2 % |
| Shanghai Composite | 3,395 | 1.8 % |
| DEVELOPED | LATEST | % 1D |
| Dow Jones | 33,619 | (0.2) % |
| DAX | 15,953 | (0.1) % |
| FTSE 100 | 7,778 | 1.0 % |
| Nikkei | 28,950 | (0.7) % |
| Straits Times | 3,258 | (0.3) % |
