Stock Market LIVE Updates : Gift Nifty indicates Indian markets may open higher; Asian markets trades steady

-Carlyle-backed Indegene IPO opens for subscription; closes on May 8

-Fresh issue of 1.68 crore shares aggregating to `760 crore

-OFS of 2.39 crore shares worth `1,082 crore

-Price band fixed at `430-452 per share

-Objective: Debt repayment, capex needs, general corporate purposes

-1 lot equals 33 equity shares

-Tentative listing date fixed as May 13

Gold rose after conflicting signals from the US, where optimism about the economy’s soft landing is growing amid Federal Reserve efforts to combat inflation. The metal initially dropped 0.4% on Monday but rebounded, reversing its recent weekly losses. Investors are considering weaker-than-expected US job numbers, suggesting a gradual economic slowdown and easing concerns about high inflation and slow growth. Chicago Fed President Austan Goolsbee suggested that if reports like April’s continue, it could support the case for monetary easing this year, which traditionally affects gold negatively due to its lack of interest payments.

Oil prices rose in early trading after Israel closed the Kerem Shalom humanitarian crossing into Gaza on Sunday, responding to a rocket barrage fired by Hamas. This incident poses a risk to ongoing hostage and cease-fire negotiations. Additionally, Saudi Arabia increased the price of crude sold to Asia in an effort to tighten the oil market. Traders are also keeping an eye on central bank meetings this week, particularly the Reserve Bank of Australia, expected to adopt a hawkish stance after last month’s stronger-than-expected inflation data. Furthermore, upcoming Chinese activity data and inflation readings in key emerging markets are anticipated.

Brent crude futures for July rose 22 cents to $83.18 a barrel. U.S. West Texas Intermediate crude for June was up 25 cents to $78.36 per barrel.

-Kotak Bank: RBI ban to impact FY25 profit by Rs 300-450 cr

-Titan Q4 profit, margins miss estimate

-Britannia Q4 volume growth at 6%; higher end of expectations

-M&M Financial Q4 profit drops 10% YoY

-DMart Q4 profit & revenue see 20% Jump YoY

-Tata Tech Q4 profit falls; revenue drops marginally

-Lupin, Marico, GCPL, India Bank Q4 earnings today

-Paytm President and COO Bhavesh Gupta resigns

-Soft U.S. jobs report renews rate cut hopes

-U.S. economy adds 1,75,000 jobs in April vs 3,15,000 in March

-Unemployment rate rises to 3.9% in April

-S&P clocks best day since Feb; US futures gain

-Asian markets edge higher tracking Wall Street cues

-USD eases; 10Y yield below 4.6%

-Oil steadies after steepest weekly drop in 3 months

-Gold loses shine despite soft jobs report

-GIFT Nifty hints at tripe-digit rebound

Stocks soared Friday, led by tech, after a weak jobs report. Warren Buffett’s imminent appearance and AI earnings add to the buzz. Nasdaq surged 2%, S&P 500 rallied 1.8%, and Dow Jones rose 1.2%. Small caps also climbed. Key indexes closed near or above their 50-day moving averages.

April’s jobs report disappointed, fueling investor optimism. Powell’s dovish remarks added to the bullish sentiment. Economic calendar light next week; earnings season heats up. Berkshire Hathaway, Palantir, and Arm among notable reports.

Asian stocks hold steady as traders await China’s return from holiday, with mainland markets expected to rise due to supportive policies from Beijing.

Australia’s stock index rose following a 1.3% gain in the S&P 500 on Friday, driven by weaker-than-expected US jobs data, which reignited expectations of a Federal Reserve interest rate cut this year. Chinese shares on the Nasdaq surged 5.5% last week, while Japanese markets remained closed for a holiday.

Equity markets closed lower on Friday, driven by profit-taking as Nifty 50 hit new highs. Heavyweights like RIL, L&T, and HDFC Bank declined, with FPIs selling off.

Nifty reached 22,476 from a peak of 22,795, down 172 points (0.76%). Sensex swung 1,627 points intraday, ending at 73,878, down 733 points (0.98%). Market cap dropped by Rs2.5 trillion to Rs406 trillion. Factors like elections, US economic uncertainty, FPI selling, and earnings anxiety fuel market volatility, as India VIX rises for the seventh straight session, closing at 14.6, up 8.7%.

Foreign institutional investors (FIIs) net sold Rs 2391.98 crore shares, while domestic institutional investors (DIIs) pumped in Rs 690.52 crore on May 3, provisional data from the NSE showed.