Domestic stocks gave back some gains today, snapping a 3-day winning streak. The party seems to be on pause after the new Modi-led NDA government settled in. Investors are waiting for fresh cues and digesting recent highs. Foreign money is slowly returning to the market, while domestic institutions are taking some profits off the table. Meanwhile, the possibility of a US rate cut is diminishing as the US economy remains strong, which could dampen sentiment if the Federal Reserve does not cut rates as some anticipated.
Posts in category Business Standard
Stocks surge in Japan, Nikkei up 0.90% (10-06-2024)
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US stocks turn choppy after jobs data (10-06-2024)
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Euro Tumbles Significantly Amid Political Uncertainty, Massive Dollar Strength Overseas (10-06-2024)
Euro tumbled to over one month low against the dollar on Monday due to political uncertainty caused by French President Emmanuel Macron’s announcement of a sudden legislative election. European equities also fell as traders digested the results of the European Parliament elections. The far-right made gains in the European elections on Sunday, prompting French President Emmanuel Macron to call a surprise snap legislative ballot. Besides, massive strength in dollar overseas following US jobs number that came in above forecast and reduced expectations of a rate cut, weighed on the single common currency. US CPI figures and FOMC meeting will be closely watched for further cues. Currently, EURUSD pair is quoting at $1.0749, down over half a percent on the day and at its lowest level in more than a month. Dollar index futures are trading at 105.24, up 0.4% also hammering the euro.
Le Travenues Technology IPO subscribed 1.95 times (10-06-2024)
The offer received bids for 8.51 crore shares as against 4.37 crore shares on offer.
Nifty June futures trade at discount (10-06-2024)
State Bank of India, HDFC Bank and Reliance Industries were the top traded contracts.
Fund Pick: HDFC Flexi Cap Fund has a rich history of outperformance (10-06-2024)
The fund’s month-end assets under management (AUM) increased to Rs 50,840 crore in March 2024 from Rs 23,128 crore in March 2021
Alphalogic Techsys hits the roof as board to mull fund raising (10-06-2024)
Alphalogic Techsys was locked in upper circuit of 5% at Rs 279.15 after it announced that its board is scheduled to meet on 12 June 2024 to consider and approve the proposal of raising funds.
Kalpataru Projects gains as board OKs NCD issue of Rs 300 cr (10-06-2024)
Kalpataru Projects International rose 1.10% to Rs 1,278.40 after the company said that its board has approved fund raising of Rs 300 crore by issuing non-convertible debentures (NCDs) on private placement basis.
Quick Wrap: Nifty Media Index records a surge of 1.86% (10-06-2024)
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