Stock Market News: Trends on GIFT Nifty Indicate Positive Opening

The BSE Sensex ended the volatile session on a negative note, falling 118 points to 72,987, while the Nifty 50 was down 17 points at 22,201. On the broader markets front, the Nifty Midcap 100 and Smallcap 100 indices gained 1 percent and 0.6 percent respectively on positive breadth.

GIFT Nifty

The GIFT Nifty trends suggest a positive opening for the broader index in India.

US Markets

Wall Street’s three major indexes notched record closes on Wednesday with the benchmark S&P 500 and the Nasdaq both advancing more than 1 percent, after a smaller-than-expected rise in consumer inflation bolstered investors’ hopes for interest rate cuts by the Federal Reserve.

The Dow Jones Industrial Average rose 349.89 points, or 0.88 percent, to 39,908.00 while the S&P 500 gained 61.47 points, or 1.17 percent, at 5,308.15. The Nasdaq Composite advanced 231.21 points, or 1.4 percent, to 16,742.39, Reuters reported.

Asian Markets

Asian stock markets rallied on Thursday, buoyed by Wall Street’s surge to all-time peaks overnight after a milder US inflation report raised expectations the Federal Reserve will deliver two interest rate cuts this year.

MSCI’s broadest index of Asia-Pacific shares outside Japan climbed 1.5 percent. Hong Kong’s Hang Seng and Australia’s stock benchmark each rallied about 1.6 percent, according to a Reuters report.

Also read: Opening Online Demat Account with Dhanush: A Step-by-Step Guide

Stocks in News

• Infosys: The IT major announced that it is collaborating with SAP Emarsys, a cloud-based, omnichannel customer engagement platform, to empower businesses to address the growing need for omnichannel customer engagement.
• Bharti Airtel: The telecom major’s managing director and chief executive Gopal Vittal emphasised the need for ‘substantial tariff repair’ across the industry as the
  the current level of tariffs was ‘absurdly low’.
• TVS Motor Company: The company has started its operations in Italy with plans to introduce a range of both conventional as well as electric scooters and motorcycles.
• Eicher Motors: VE Commercial Vehicles (VECV), a subsidiary of Eicher Motors, announced a joint venture (JV) agreement with iTriangle Infotech (iTriangle).
• Colgate-Palmolive (India): The company is planning to launch products from its global portfolio of personal and home care brands, aiming to expand its business beyond its core toothpaste and toothbrush categories.
• HDFC Life Insurance: The firm announced its highest-ever bonus of Rs 3,722 crore on participating plans to nearly 22.23 lakh policyholders.
• EaseMyTrip: The company announced a partnership with Google Wallet to offer a more convenient travel experience. The integration of the two services allows users to manage bookings and boarding passes in a single wallet.
• Quick Heal Technologies: The company has partnered with Europe-based EET Group to enhance its cybersecurity offerings.

FII & DII Data

FIIs sold shares worth Rs 2,832.83 crore. DIIs pumped in Rs 3,788.38 crore worth of stocks on May 15.

Results Today

Mahindra and Mahindra, GAIL (India), Vodafone Idea, Biocon, CONCOR, Crompton Greaves Consumer Electricals, Hindustan Aeronautics, KIMS, Info Edge.

Stocks under F&O ban on NSE

Biocon, Granules India, India Cements, LIC Housing Finance, Balrampur Chini Mills, Birlasoft, GMR Airports Infrastructure, Hindustan Copper, Vodafone Idea, Piramal Enterprises, SAIL, and Zee Entertainment Enterprises.

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Disclaimer: The information provided in this blog post is for informational purposes only and should not be construed as investment or trading advice. The author is not a financial advisor and does not have any professional qualifications in this area. The author does not guarantee the accuracy or completeness of the information provided. Any action you take based on the information in this blog post is done at your own risk. Please consult with a financial advisor before making any investment.