Opening Bell:
SGX Nifty is up by 37.0 points in the early morning trade, indicating a positive opening for Indian stock market.
Asian markets were up in the early morning trade. The Nikkei 225 is higher by 0.75%, while Hong Kong’s Hang Seng is up by 0.71%. The Shanghai Composite is down by at 0.18%. U.S. stock indexes ended green, market participants appeared to show little conviction as first-quarter earnings season winds down, leaving few market-moving catalysts, aside from a disappointing Empire State manufacturing report from the New York Federal Reserve. the S&P 500 up by 0.30%. while the Nasdaq Composite is up by 0.66%. The Dow Jones Industrial Average up by 0.14%.
Stocks News:
👉Multiplex chain operator PVR Inox has reported a net loss of Rs 333 crore for the quarter ended March. Revenue from operations during the fourth quarter more than doubled to Rs 1,143 crore.
👉WIPRO has partnered with Google Cloud’s Rapid Migration Program (RaMP) to help clients accelerate their journey to the cloud and pursue a migration strategy anchored in business outcomes.
👉The National Stock Exchange of India (NSE) reported a 19% year-on-year (YoY) growth in standalone net profit for the March quarter to Rs 1,810 crore. The country’s leading stock exchange reported a strong 32% YoY growth in operating income to Rs 3,295 crore.
👉Subsidiary UltraTech Nathdwara Cement (UNCL) has commissioned 0.8 mtpa brownfield cement capacity at Neem Ka Thana, Rajasthan. The company, along with its subsidiary, now has 17.05 mtpa grey cement capacity in Rajasthan and its total grey cement manufacturing capacity, including that of UNCL, now stands at 129.95 mtpa in India.
👉Foreign portfolio investors (FPIs) have net purchase shares worth Rs 1,685 crore on Monday. DIIs, on the other hand, stock purchase worth Rs 191 crore.
Domestic and International Events
- Experts have warned that populist promises, such as cash and travel subsidies, promised by political parties in the lead up to elections in India, could harm long-term growth prospects. C Rangarajan, former RBI governor, suggested enforcing strict fiscal-deficit limits to limit freebies. Former chairman of the National Statistical Commission, Pronab Sen, called for action by the Election Commission against such promises. Meanwhile, M Govinda Rao, a member of the 14th Finance Commission, said that parties focus on short-term rather than long-term benefits.
- The Finance Ministry in India has backed up its July 2021 reply to Parliament that stated that the Securities and Exchange Board of India (SEBI) was investigating some Adani Group companies. This follows the regulator, which is looking into fraud allegations and money laundering involving the listed entities, and requests for a deadline extension.
- Oil prices rose for a second day early on Tuesday, as U.S. plans to purchase oil for the Strategic Petroleum Reserve (SPR) lent support while raging wildfires in Canada fuelled supply worries.
- Gold regained its footing on Monday after three straight sessions of losses as the dollar eased and investors remained wary of the U.S. debt ceiling standoff that could fuel worries of a global economic slowdown.
Key Equity Indices
| EMERGING | LATEST | % 1D |
| Hang Seng | 19,971 | 1.8 % |
| Shanghai Composite | 3,311 | 1.2 % |
| DEVELOPED | LATEST | % 1D |
| Dow Jones | 33,301 | (0.0) % |
| DAX | 15,917 | 0.0 % |
| FTSE 100 | 7,778 | 0.3 % |
| Nikkei | 29,626 | 0.8 % |
| Straits Times | 3,215 | 0.2 % |
