Before Market Opens: 9 essential things to know at 9 am on April 30, 2024

U.S. stocks ended higher on Monday, with sharp gains for Tesla and Apple leading the way, as investors looked toward what the Federal Reserve would say about the interest rate outlook after its policy meeting this week. Traders expected the Fed to keep rates unchanged while striking a hawkish tone. The Dow Jones Industrial Average rose 146.43 points, or 0.38%, to 38,386.09, the S&P 500 gained 16.21 points, or 0.32%, to 5,116.17 and the Nasdaq Composite gained 55.18 points, or 0.35%, to 15,983.08.

Asian stocks inched higher on Tuesday as investors awaited a slew of economic data, corporate earnings and the U.S. Federal Reserve’s policy meeting, while the yen was slightly weaker a day after suspected intervention rescued it from 34-year lows. MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.36% higher, set to clock in a nearly 1% gain for the month, its third straight month of gains. Nikkei rose 1% as Japan reopened after a holiday on Monday. China stocks were mixed in early trading with the blue-chip index easing 0.07%, while Hong Kong’s Hang Seng index was up 0.5%.

On Monday, the Indian stock market indices ended with significant gains led by a strong rally in banking and financial stocks after upbeat March quarter results. The Sensex surged 941.12 points, or 1.28%, to close at 74,671.28, while the Nifty 50 settled 223.45 points, or 1%, higher at 22,643.40.

At 8:15 am, Gift Nifty was trading 24 points or 0.11 percent higher at 22,795, indicating a positive opening for the Indian markets.

Oil edged down in early trade on Tuesday after Israel-Hamas ceasefire talks in Cairo helped quell market fears of an expanded conflict in the Middle East, while worries about the outlook for U.S. interest rates weighed on the market. Brent crude futures dipped 5 cents, or 0.06%, to $88.35 a barrel at 0006 GMT, and U.S. West Texas Intermediate crude futures slipped 12 cents, or 0.15%, to $82.51 a barrel.

Gold prices were steady on Tuesday and set for a third straight monthly gain, as market participants awaited the U.S. Federal Reserve policy decision and non-farm payrolls data due later this week for interest rate cues. Spot gold was unchanged at $2,334.92 per ounce as of 0124 GMT. U.S. gold futures were down 0.5% at $2,346.00 per ounce.

Foreign institutional investors (FIIs) net bought ₹169.09 crore shares, while domestic institutional investors (DIIs) pumped in ₹692.05 crore on April 29, provisional data from the NSE showed.

A total of 56 companies will announce their financial results for the fourth quarter of FY24 today, April 30. These include – Indian Oil Corporation, REC, Adani Energy Solutions, Havells India, Adani Total Gas, Cholamandalam Investment and Finance Company, Indus Towers, Central Bank of India, Procter and Gamble, Exide Industries, Sona BLW Precision Forgings, Star Health & Allied Insurance Company, and Vedant Fashion, among others.

Samsung Electronics reported on Tuesday a more than 10-fold rise in its first-quarter operating profit, as memory chip prices rose steeply from a severe downturn thanks in part to a boom in artificial intelligence. The world’s biggest maker of memory chips and TVs said operating profit rose to 6.6 trillion won ($4.8 billion) in January-March, up from 640 billion won a year earlier. That was in line with Samsung’s own estimate of 6.6 trillion won flagged earlier this month.

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Published: 30 Apr 2024, 08:29 AM IST