Stock Market LIVE Updates: GIFT Nifty indicates a positive start; US, Asian markets gain

#1 Analysts expect shares to list at 30-32 percent premium to issue price of Rs 93

#2 IPO got overwhelming response with overall subscription of over 98x

#3 Retail portion was subscribed 54.8x

#4 Non-institutional category was booked 110.5x

$5 QIB portion was subscribed 106.7x

#1 S&P 500, Nasdaq notch record close; Dow snaps 4-day losses

#2 Wall Street rises ahead of May retail sales data

#3 Minneapolis Fed President Neel Kashkari indicates the central bank may not cut rates until December

#4 Asia rebounds following record close on Wall Street; Nikkei, Kospi lead gains

#5 Hyundai hits record high on plans to list in India

#6 US 10-year yield rises post Fed comments on rate cut timeline

#7 Oil prices hold firm; Brent back near $85 amid expectations of higher summer fuel demand

#8 Gold edges higher as traders digest Fed comments

#9 GIFT Nifty signals fresh highs

Food delivery giant Zomato on June 16 clarified through a communication to the exchanges that it is in discussion to acquire Paytm’s movie ticketing and events business.

The clarification came after media reports said negotiations over a Rs 1,500-crore deal between One97 Communications Ltd, the parent company of Paytm, and Zomato were in advanced stages.

“We acknowledge that we are in discussions with Paytm for the transaction, however, no binding decision has been taken at this stage that would warrant a Board approval and subsequent disclosure in accordance with applicable law,” Zomato said in the statement.

This strategic move aligns with Zomato’s plan to expand its ‘going out’ offerings. “The discussion is being undertaken with an intent to further strengthen our going-out business and is in line with our stated position of focusing only on our four key businesses,” the company said. Read More

Oil prices ticked up in early trade on Tuesday, extending gains from the previous session on a stronger demand outlook and investor confidence that OPEC+ producers could pause or reverse plans to raise supplies from the fourth quarter of this year.

Global benchmark Brent crude futures were up 21 cents, or 0.25%, at $84.46 per barrel at 0001 GMT. U.S. West Texas Intermediate crude futures were up 16 cents, or 0.2%, at $80.49 a barrel.

Both benchmarks gained around 2% on Monday, closing at their highest since April.

The dollar drifted lower on Tuesday, extending the previous day’s losses against the euro and sterling, as market jitters over the risks of a far-right French government receded.

The U.S. currency failed to get a lift from a rise in Treasury yields overnight, with investors awaiting a key retail sales report and comments from Federal Reserve officials to better gauge the timing and pace of interest rate cuts.

The Australian dollar hovered close to the middle of its trading range over the past month with the Reserve Bank of Australia seen holding rates steady later in the day.

Asian markets rebounded on Tuesday as Wall Street surged overnight, with investors awaiting the Reserve Bank of Australia’s interest rate decision.

The S&P 500 and Nasdaq scored record closing highs on Monday as technology shares rallied on enthusiasm over artificial intelligence ahead of this week’s economic data and Federal Reserve officials’ speeches that could shed light on monetary policy.

The Dow Jones Industrial Average rose 188.94 points, or 0.49%, to 38,778.10. The S&P 500 climbed 41.63 points, or 0.77%, to 5,473.23 and the Nasdaq Composite advanced 168.14 points, or 0.95%, to 17,857.02.

The Indian markets on June 14 soared to a fresh record high. Benchmark Sensex ended higher for third session while Nifty closed higher for fourth straight sessions. At closing, Sensex closed at 0.24 percent higher or 182 points to 76,992.77 while Nifty ended 0.29 percent or 66.7 points higher at 23,465.60.

Among sectoral indices, BSE Capital goods was the top gainer, up 1.7 percent followed by BSE Telecommunication, Consumer durables and consumer discretionary, which were up 1.3 percent each. Among losers, BSE IT index fell 0.7 percent.

Stock market was shut on JUne 17 on account of for Bakri Id.