Stock Market LIVE Updates | GIFT Nifty trades flat; Asian stocks surge at opening

1# Hindalco: Novelis Q4 beats estimates; Adjusted EBITDA/tonne at 7-quarter high

2# GCPL: Exceptional charges lead to surprise Q4 loss; clocks industry-leading volume growth

3# Lupin Q4 profit disappoints; margins top estimate

4# Marico Q4 volume growth of 3% tops estimate; maintains double-digit constant currency growth guidance for FY25 & beyond

5# Dr Reddy’s, JSW Energy, PB Fintech, Pidilite, Voltas Q4 earnings today

6# HPCL to consider bonus issue along with earnings on May 9

7# Gujarat Gas Q4 profit jumps 86%, margin expands

8# Weak quarter for Route Mobile; margin down 80 bps

9# LTIMindtree gets tax demand of `158 cr from Mumbai GST dept for FY19

10# Shankar Sharma buys 0.5% stake in Bigbloc Construction

#1Asian markets extend gains on renewed Fed rate cut bets

#2Dow logs 4-day winning streak

#3USD remains soft; 10Y yield below 4.6% amid rate cut optimism

#4Fed’s Barkin says full impact of high interest rates yet to come

#5Oil gains marginally amid confusion over Gaza ceasefire

#6Gold resumes upmove on softer dollar, rate cut hopes

#7GIFT Nifty signals quiet start

Gold prices climbed as investors anticipated rate cuts from the Federal Reserve, driven by geopolitical tensions in the Middle East. Bullion closed 1% higher, with dovish remarks from US policymakers like Thomas Barkin and John Williams influencing market sentiment. Barkin suggested that high rates could slow the economy, while Williams hinted at potential rate cuts pending data analysis.

Oil climbed 0.5% in early Asian trading, while US stock futures held steady despite Israel rejecting Hamas’s ceasefire proposal in Gaza. The US equity benchmark surpassed 5,180 on Monday.

Stocks surged in their best three-day rally since November, driven by speculation of potential interest rate cuts by the Federal Reserve this year. The S&P 500 climbed 1%, surpassing its 50-day average price—a crucial level for many chartists. Solid earnings fueled optimism despite concerns about trading volume, with most industries gaining. Traders monitored geopolitical tensions, including Israel’s rejection of a cease-fire proposal by Hamas. Oil prices rose. Investors analyzed remarks from various Fed officials following Jerome Powell’s recent comments. Fed Bank of Richmond President Thomas Barkin anticipates high rates to slow the economy and cool inflation, while his New York counterpart, John Williams, suggests eventual rate cuts depending on data trends.

Asian stocks surged early, buoyed by Wall Street’s optimism that the Federal Reserve will initiate interest rate cuts this year. Japan’s Nikkei 225 soared up to 1.6%, resuming trading after a holiday, while Australian shares rose 0.7%. The yen weakened after Japan’s top currency official suggested no government intervention unless market functioning is disrupted. In China, optimism prevails with supportive policies boosting shares and the yuan. Rebounding assets attract investors amid earnings recovery, policy backing, and attractive valuations. Australia’s central bank is anticipated to maintain its key interest rate while acknowledging persistent consumer prices.

Equity markets on Monday ended flat after opening nearly 0.5 percent higher amid selling seen in PSU stocks. The Sensex was up 17.39 points or 0.02 percent to close at 73,895.54, and the Nifty was down 33.15 points or 0.15 percent to end at 22,442.70. About 1,294 shares advanced, while 2,627 shares declined, and 172 shares were unchanged.

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