Opening Bell:
SGX Nifty is up by 45.0 points in the early morning trade, indicating a positive opening for Indian stock market.
Asian markets are broadly higher today with shares in Japan leading the region. The Nikkei 225 is up 1.38% while Hong Kong’s Hang Seng is up 0.73% and China’s Shanghai Composite is up 0.13%. Wall Street rallied to a higher close on Wednesday, gathering momentum throughout the afternoon trading, and the dollar touched a six-week high as regional banks surged and negotiations in Washington over raising the debt ceiling progressed. All three major U.S. stock indexes rallied to end up more than 1% as hopes of a deal to raise the debt limit helped investors look past dismal forecasts from retailers, the S&P 500 up by 1.19%. while the Nasdaq Composite is up by 1.28%. The Dow Jones Industrial Average down by 1.24%.
Stocks News:
👉JK Tyre posted net profit of Rs 108 crore during the January-March period. Revenue during the same period stood at Rs 3,632 crore.
👉Leading quick service restaurant player Jubilant Foodworks on May 17 reported a significant 59.5 percent decline in its consolidated net profit at Rs 47.5 crore from Rs 116.1 crore in year-ago period.
👉Whirlpool of India posted net profit of Rs 63 crore during the fourth quarter. Revenues came in at Rs 1,672 crore.
👉The Reserve Bank of India (RBI) has given its approval to SBI Funds Management to acquire up to 9.99% stake in HDFC Bank.
👉Foreign portfolio investors (FPIs) have net purchase shares worth Rs 149 crore on Wednesday. DIIs, on the other hand, stock sold worth Rs 204 crore.
Domestic and International Events
- The government will soon set up a high-level panel for smooth implementation of the National Credit Framework (NCrF), which aims at integrating academic education and skilling in India. The NCrF will come into force from August.
- The government intends to invite financial bids for its entire 63.75% stake in Shipping Corporation of India (SCI) soon after the demerged entity, SCILAL, is listed
- Oil prices edged lower on Thursday, easing on concerns over plentiful supply after surging nearly 3% during the previous session.
- MCX Gold futures edged higher on Tuesday as the fears around US default rose amid debt ceiling crisis. The June Gold futures were trading at Rs 60,387 per 10 grams, up by Rs 143 or 0.24% in the early trade.
Key Equity Indices
| EMERGING | LATEST | % 1D |
| Hang Seng | 19,561 | (2.1) % |
| Shanghai Composite | 3,284 | (0.2) % |
| DEVELOPED | LATEST | % 1D |
| Dow Jones | 33,421 | 1.2 % |
| DAX | 15,951 | 0.3 % |
| FTSE 100 | 7,723 | (0.4) % |
| Nikkei | 30,094 | 0.8 % |
| Straits Times | 3,174 | (1.3) % |
