Stock Market LIVE Updates: GIFT Nifty suggests a positive start; US, Asian markets mixed

The NSE has added Balrampur Chini Mills, and National Aluminium Company to the F&O ban list for April 12, while retaining Exide Industries, Hindustan Copper, Vodafone Idea, India Cements, SAIL, and Zee Entertainment Enterprises to the said list. Bandhan Bank was removed from the said list.

Oil prices rose in early trade on Friday on heightened tensions in the Middle East, where Iran has promised to retaliate for a suspected Israeli air strike on its embassy in Syria, which could risk disruptions to supply from the oil producing region.

Brent crude futures climbed 34 cents, or 0.38%, to $90.08 a barrel, while U.S. West Texas Intermediate crude futures rose 44 cents, or 0.51%, to $85.45.

The yen struggled to break away from a 34-year low on Friday and was headed for a weekly decline, while the dollar hovered near a five-month high alongside U.S. Treasury yields as traders heavily scaled back bets for a slew of U.S. rate cuts this year.

The euro was eyeing its sharpest weekly fall in about four months, pressured in part by a resurgent greenback and expectations that the European Central Bank (ECB) could begin easing rates in June, likely ahead of the Federal Reserve.

The company said that it will buyback 5.95 lakh equity shares having a face value of Re 1 each at a price of Rs 625 per share. The buyback presents 34.4 percent premium over last closing price. The company said that it will help them to return surplus cash to its shareholders.

Foreign institutional investors (FIIs) net bought shares worth Rs 2,778.17 crore, while domestic institutional investors (DIIs) purchased Rs 163.36 crore worth of stocks on April 10, provisional data from the NSE showed.

U.S. consumer prices increased more than expected in March amid rises in the costs of gasoline and shelter, casting further doubt on whether the Federal Reserve will start cutting interest rates in June.

The consumer price index rose 0.4 percent la st month after advancing by the same margin in February, the Labor Department’s Bureau of Labor Statistics (BLS) said on Wednesday.

In the 12 months through March, the CPI increased 3.5% also as last year’s low reading dropped out of the calculation. That followed a 3.2% rise in February. Read More

JM Financial raises target on Zomato Rs 260 from Rs 200, saying that Blinkit will continue to grow exponentially.

The brokerage firm sees no slowing down of growth and expects quick commerce to exceed food delivery GOV earlier than expected.

The European Central Bank held interest rates steady again Thursday but said slowing inflation could open the door to easing monetary policy, raising hopes of a first cut in June.

It was the fifth consecutive time the central bank has frozen borrowing costs, with the key deposit rate sitting at a record high of four percent.

The ECB had hiked rates at a record pace to tame red-hot price rises, but calls have been growing for cuts to begin as inflation falls and higher borrowing costs take their toll on the 20-nation single currency area.

Eurozone inflation slowed more than expected in March to 2.4 percent — not far off the ECB’s two-percent target. Read More

India’s largest IT services company Tata Consultancy Services (TCS) is going to announce earnings for the fourth quarter on April 12.

According to Moneycontrol estimates, revenue for the quarter is expected to be around Rs 60,559 crores, growing 2.36 percent YoY and remained flat sequentially.

Net profit is estimated to come in at Rs 11,739 crores, a 3.05 percent jump YoY and 6.16 percent increase sequentially. Read More