April 25, 2024
Stock Market

Stock Market LIVE: Wall Street ends mixed, Gold hits new high; Fed reaffirms wait-and-see approach | News on Markets


Stock market updates on April 04, 2024: Benchmark indices may exhibit volatility in trades on Thursday as market digest a slew of triggers ahead of the RBI policy outcome tomorrow.

Global triggers

On Wednesday, the US market ended on a mixed note after the US Federal Reserve reaffirmed that the Fed will stick to its wait-and-see approach given the strength in the economy and high inflation rate. The S&P 500 and Nasdaq advanced 0.1 per cent and 0.2 per cent, while Dow Jones slipped 0.1 per cent.

Meanwhile, the US 10-year bond yield contiunued to hover around elevated 4.357 per cent levels. Gold futures extended its record rally to $2,319 per ounce, and Brent Crude Oil quoted near $90 per barrel.

Nearer home, Japan’s Nikkei rallied 1.5% and Kospi also logged notable gains in an otherwise mixed trend.

Domestic cues

At 07:10 am, Gift Nifty futures indicated a positive start to the trading action and quoted around 22,600 levels.

Among indidvidual stocks, shares of oil explorers such as ONGC, Oil India and Reliance will be in focus after the government in its fortnightly review hiked windfall tax on petroleum crude to Rs 6,800 a metric tonne from Rs 4,900 earlier. 

NLC India is also expected to see some action after the state-run firm said it plans to sell renewable assets worth Rs 6,000 crore.

In the primary market, Bharti Hexacom IPO was subscribed 34 times at the end of Day 1 of the offer period yesterday. The company is in the process of raising Rs 4,275 crore, by offering sharesz in the price band of Rs 542 – Rs 570 per share.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

SUBSCRIBE TO OUR NEWSLETTER

Get our latest downloads and information first.
Complete the form below to subscribe to our weekly newsletter.


100% secure your website.