Stock Market LIVE Updates: GIFT Nifty indicates a weak start; US markets down, Asia trades mixed

Jun 10, 2024

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Sensex Today | Stock Market LIVE Updates: Wall Street stocks ended slightly lower on Friday in choppy trading after stronger-than-expected U.S. jobs data pointed to a robust economy but prompted worries the Federal Reserve may wait longer to cut interest rates than many investors had hoped.

June 10, 2024 / 08:52 am IST

  • Stock Market LIVE Updates: GIFT Nifty indicates a weak start; US markets down, Asia trades mixed

    Stock Market Today

  • June 10, 2024 / 08:49 AM IST

    Sensex Today | Interest rate cuts may start in December 2024 only if monsoons turn good and risks to food inflation abate

    Compared to the previous policy meeting in April 2024, one more member changed sides this time. Now we have 4 members who continue to believe that a contractionary monetary policy to the extent that is present now is necessary to better align inflation to its target of 4 percent, keeping in mind the risks to inflation that may still be lurking. Professor Ashima Goyal, who has now joined Professor Jayanth Varma to suggest that rate cuts can start, had been largely tilting towards this even during the previous meeting. She had, in April, argued that a rate cut could be possible as real rates were higher than neutral and that even if rates are cut by 25bps, monetary policy will continue to remain restrictive. Read More

  • June 10, 2024 / 08:46 AM IST

    Sensex Today | Suprajit to acquire business of Stahlschmidt Cable Systems

    Suprajit is pleased to announce the signing of Share and Asset Purchase Agreement (SAPA) for the acquisition of the business of Stahlschmidt Cable Systems (SCS), out of insolvency proceedings in Germany.

  • June 10, 2024 / 08:43 AM IST

    Stock Market LIVE Updates | Pavna Industries acquires land parcel in Pantnagar

    Pavna Industries has acquired a land parcel of 4335 sq. meters at the Integrated Industrial State, Pantnagar, Uttarakhand for its upcoming greenfield plant that will primarily cater to the demand of die cast components.

  • June 10, 2024 / 08:41 AM IST

    Stock Market LIVE Updates | JSW Energy signs 7-year green hydrogen supply agreement with JSW Steel

    JSW Energy has signed a seven years green hydrogen supply agreement with JSW Steel Ltd for 3,800 tons per annum, along with associated green oxygen.

    The detailed engineering work and ordering of equipment have been completed with commissioning expected in Q4 FY25.

    Additionally, the Company has been allotted a capacity of 6,800 TPA under the Strategic Interventions for Green Hydrogen Transition (SIGHT) program by SECI.

  • June 10, 2024 / 08:40 AM IST

    Brokerage Call | Nomura keeps ‘neutral’ rating on HCL Technologies, target Rs 1,400

    #1 FY25 revenue growth guidance assumes no improvement in macro versus FY24

    #2 Margin improvement towards aspiration of 19-20 percent needs revenue growth pickup

    #3 Recent organizational changes aimed at integrating go-to market

    #4 Gen AI, pilots continue at client ends, still time before large work emerges here

    #5 Disciplined capital allocation policy to continue

    #6 Stable senior leadership helping drive growth

  • June 10, 2024 / 08:34 AM IST

    Sensex Today | Economists expect RBI to start lowering policy rates from October

    After the Reserve Bank of India (RBI) decided to keep the repo rate unchanged at 6.5 percent, economists think that the central bank will look at lowering the rates from October 2024.

    On June 7, the Monetary Policy Committee (MPC) of the RBI decided to keep the repo rate unchanged at 6.5 percent with a majority of 4:2. In his second bi-monthly monetary policy for the current financial year, RBI Governor Shaktikanta Das said that the central bank has decided to maintain withdrawal of accommodation stance. Read More

  • June 10, 2024 / 08:30 AM IST

    Currency Check | Euro slips to one-month low as Macron calls French election

    The euro fell on Monday as the French President Emmanuel Macron called a shock election after being trounced in the European Union vote by the far-right, while the dollar was steady ahead of the Federal Reserve meeting later in the week.

    The euro fell to $1.0764, its lowest since May 9, in early trading in Asia. It was last down 0.24% at $1.0776 as investors weighed the implications of renewed political uncertainty in the euro zone’s second-biggest economy in a key election year.

  • June 10, 2024 / 08:27 AM IST

    Buy Nifty on dips towards 22800 – 22700: Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas

    The Nifty has recovered all the lost ground and is within touching distance of previous all-time high of 23338. The V shape recovery has put the structure in the Favor of bulls and dips towards support zone 22800 – 22700 should be used as a buying opportunity. On the upside the psychological level of 23500 is likely to attract some profit booking at higher levels.

    Bank Nifty also witnessed continuation of the pullback and however is lagging as it is still far away from its previous all-time high of 51133. The pullback is likely to continue and in the case of a dip towards 49500 – 49000 it should be used as a buying opportunity. On the upside, 51133 shall act as an immediate hurdle from short term perspective.

  • June 10, 2024 / 08:21 AM IST

    Sensex Today | Borosil Renewables, RVNL, Dr Reddy’s top stocks to watch out today 

    #1 Dr Reddy’s gets 4 USFDA observations for Andhra unit

    #2 Jubilant Pharmova: US FDA completes audit of contract manufacturing facility in US, issues 3 observations

    #3 IDBI Bank receives income tax order determining Rs 2,701.6 crore refund for AY 2016-17

    #4 KEC bags new orders worth Rs 1,061 crore

    #5 RVNL JV with KRDCL receives project worth Rs 156 crore from Southern Railway

    #6 Borosil Renewables board approved raising up to Rs 450 crore via the rights issue

    #7 In F&O ban: Balrampur Chini, SAIL, Zee

    #8 Kronox Lab Sciences may debut with 22-30% premium over IPO price

  • June 10, 2024 / 08:13 AM IST

    Brokerage Call | Morgan Stanley keeps ‘overweight’ rating on Adani Ports, target Rs 1,517

    #1 Large hinterland and regular service calls from some South East Asian Ports

    #2 Company sees synergies with its ports assets at Colombo And Vizhinjam

  • June 10, 2024 / 08:04 AM IST

    Sensex Today | Global Cues

    #1 Asia mixed ahead of Fed, BoJ policy this week

    #2 Wall Street clocks weekly gains; Nasdaq up 2.5% last week

    #3 US nonfarm payrolls rose by 272,000 in May, up from 175,000 in April

    #4 Strong US jobs data casts doubt over rate cuts

    #5 US 10-year yield shoots past 4.4% as jobs data smashes estimates; USD rebounds

    #6 Oil sees third weekly loss as supply worries weigh

    #7 Gold retreats on strong US jobs data

    #8 GIFT Nifty signals muted start after stellar Friday move

    #9Japan’s GDP shrank to 1.8 versus economists’ median forecast 1.9 percent

  • June 10, 2024 / 08:00 AM IST

    Sensex Today | Blackstone poised to sell 10.6% stake in Mphasis via block deals: Sources to CNBC-TV18

    -Blackstone poised to sell 10.6% stake via block deals

    -Base price of Rs 2,350/share; discount of 5% to Friday’s close price

    -Base transaction is valued at Rs 4,700 crore

    -Upsize option could expand stake sale to 15.1%, potentially raising total deal value to Rs 6,697 crore

    -Blackstone will continue to be the largest shareholder in the company

  • June 10, 2024 / 07:57 AM IST

    Commodity Check | Oil slips on dollar’s strength from US jobs data

    Oil prices nudged lower for a second straight session on Monday, weighed down by a firmer dollar as expectations of interest rate cuts were pushed out further following strong U.S. jobs data on Friday.

    Brent crude futures and U.S. West Texas Intermediate crude futures slipped 4 cents to $79.58 and $75.49 a barrel, respectively, by 0036 GMT.

    On Friday, data showed the U.S. added more jobs than expected last month, leading investors to trim expectations for rate cuts and causing the dollar to rally.

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