world news
From last leg of Q4 results to global cues, 10 things to know before opening bell – Zee Business
Indian equity benchmarks Nifty50 and Sensex are likely to start Friday’s session on a lower note, as indicated by Singapore Exchange Nifty futures, amid mixed moves across global markets as concerns remain about a looming US debt default.
Analysts expect some more consolidation in the index amid mixed indications.
“The focus should be on sectors/stocks that are consistent in their trend instead of betting on laggards. To reclaim positivity and momentum, we need a decisive close above 18,400 in Nifty and 44,000 in the banking index,” said Ajit Mishra, VP-Technical Research at Religare Broking.
Stay tuned on Zeebiz.com to find out what could impact your trade today. We have collated a list of the top 10 things to know that could impact the market:
- SGX Nifty futures: Singapore Exchange (SGX) Nifty futures — an early indicator of the Nifty 50 index — were down 52.5 points or 0.3 per cent at 18,414 at the last count ahead of the opening bell on Dalal Street.
- Wall Street: Overnight in the US, the three main equity indices ended sharply higher after a blowout forecast from Nvidia sent the chipmaker’s stock soaring and fueled a rally in AI-related companies, while investors watched for signs of progress in US debt ceiling talks. The S&P 500 climbed 0.9 per cent to end the session at 4,151.3. The Nasdaq surged 1.7 per cent to 12,698.1 and the Dow Jones Industrial Average declined 0.1 per cent to 32,764.7.
- Asian markets: Equities in most other Asian markets were mixed in early hours on Friday, with MSCI’s broadest index of Asia Pacific shares outside Japan up 0.4 per cent. Except for Japan’s Nikkei 225, which was up almost one per cent, all other key markets were in the red. China’s Shanghai Composite was down 0.5 per cent and South Korea’s KOSPI flat with a positive bias.
- Rupee vs dollar: The rupee declined by four paise to close at 82.72 against the US dollar on Thursday, weighed down by the strength of the American currency in overseas.
- Dollar index: The dollar strengthened for a fourth straight session on Thursday against a basket of major peers to touch a two-month high, as US data pointed to a resilient economy even after an aggressive rate hike cycle by the Federal Reserve. The dollar index rose 0.4 per cent at 104.3 after hitting 104.3, its highest since March 17.
- Crude oil: Crude oil prices settled lower on Thursday after Russian Deputy Prime Minister Alexander Novak played down the prospect of further cuts in output by the OPEC+ grouping of top producers at its meeting next week. Brent crude futures settled down by $2.1, or 2.7 per cent, at $76.3 a barrel. US West Texas Intermediate crude (WTI) settled down by $2.5, or 3.4 per cent, at $71.8 a barrel.
- Wheat Production: India is likely to harvest a record 112.7 million tonnes of wheat in 2023, the farm ministry said on Thursday, reiterating its previous estimate of 112.2 million tonnes despite lower crop yields due to unseasonal rains in February and March.
- US debt ceiling update: US President Joe Biden and top congressional Republican Kevin McCarthy are closing in on a deal that would raise the US government’s $31.4 trillion debt ceiling for two years. The deal, which is not final, would increase funding for discretionary spending on military and veterans while essentially holding non-defense discretionary spending at current year levels.
- Q4 results: Companies such as Page Industries, IEX, Vodafone Idea and SAIL announced their January-March earnings on Thursday. Index heavyweights like Grasim Industries, Mahindra & Mahindra and Sun Pharma are among the corporates scheduled to report their Q4 numbers on Friday.
- FII, DII flow: Foreign portfolio investors (FPIs) net purchased Indian shares worth Rs 589.1 crore on Thursday whereas domestic institutional investors (DIIs) were net buyers to the tune of Rs 338.44 crore, according to provisional exchange data.
(With inputs from agencies)
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world news
LIVE: Pakistani intruder shot dead by BSF troops in Jammu & Kashmir’s Samba – Hindustan Times
Live
LIVE: Pakistani intruder shot dead by BSF troops in Jammu & Kashmir’s Samba
Breaking news highlights June 1, 2023: Get latest news, breaking news, updates, live news, top headlines, breaking business news and top news of the hour.
Welcome to hindustantimes.com updates platform where you can find breaking news from India and across the world. Find fast updates about the latest news as it breaks.
Follow all the updates here:
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Jun 01, 2023 07:56 AM IST
Pakistani intruder shot dead by BSF troops in Jammu & Kashmir’s Samba district
BSF troops noticed a suspicious movement of a person who crossed IB from Pakistan side in the Samba area, early morning today. He was challenged by the troops but the intruder kept advancing towards border fencing. The troops fired on him and shot him dead. Further details are being ascertained: PRO BSF Jammu
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Jun 01, 2023 07:42 AM IST
Elon Musk overtakes Bernard Arnault to become world’s richest person again
Elon Musk has retaken the title of world’s wealthiest person. The Tesla Inc. chief executive officer surpassed luxury tycoon Bernard Arnault on Wednesday after shares of Arnault’s LVMH fell 2.6% in Paris trading, reports Bloomberg.
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Jun 01, 2023 07:21 AM IST
PM Modi to meet Nepal PM Pushpa Kamal Dahal ‘Prachanda’ at Hyderabad house today
PM Modi to meet Nepal PM Pushpa Kamal Dahal ‘Prachanda’ at Hyderabad house today. Prachanda embarked on a four-day visit to India on Wednesday.
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Jun 01, 2023 07:09 AM IST
Rahul Gandhi holds interactions with Silicon Valley AI experts, startup entrepreneurs
Congress leader Rahul Gandhi Wednesday spent the first half of his day with Silicon Valley-based startup entrepreneurs, known for doing path-breaking work in the field of Artificial Intelligence and cutting-edge technologies, reports PTI.
Sitting in the front row of the Plug and Play auditorium along with Indian Overseas Congress chairperson Sam Pitroda and some other key aides who have been travelling with him from India, Gandhi was seen engrossed in the panel discussion of experts on various aspects of artificial intelligence, big data, machine learning and their implications on mankind in general and on issues like governance, social welfare measures and also disinformation and misinformation.
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Jun 01, 2023 07:06 AM IST
Canada announces new warning labels to be printed on cigarettes
Canada has announced new warning labels to be printed directly on cigarettes in an effort to deter new smokers, encourage quitting and reduce tobacco-related deaths, reports Canadian media
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Jun 01, 2023 07:02 AM IST
US House votes to avert default, advancing debt deal to Senate
The US House of Representatives voted Wednesday to raise the federal debt limit, moving the country a step closer to eliminating the threat of a calamitous credit default — just five days ahead of the deadline set by the Treasury, reports AFP.
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Jun 01, 2023 06:37 AM IST
One deak, several injured in night-time air raid on Kyiv
New night-time air raid on Kyiv, one dead, several injured, buildings damaged, say city officials, reports Reuters.
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Jun 01, 2023 06:06 AM IST
UK’s electric cars cut deeper into £32 billion fuel duty
British motorists are adopting electric cars much more quickly than expected, leaving a growing gap in the £32 billion ($39.7 billion) a year the Treasury collects from fuel duties, reports Bloomberg.
The Resolution Foundation proposed a “road duty” charged on every mile EVs drive to make up for the shortfall, which it estimates will cost the public purse £10 billion a year by the end of the decade.
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Jun 01, 2023 05:50 AM IST
Jharkhand CM Hemant Soren confirms attendance in Nitish Kumar-led Opposition meet in Patna
Jharkhand Chief Minister and Jharkhand Mukti Morcha (JMM) leader Hemant Soren on Wednesday confirmed his party’s attendance at the meeting of leading Opposition forces in Patna on June 12. Read more
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Jun 01, 2023 05:26 AM IST
Taiwan to sign first deal under new trade framework with US
Taiwan’s government expects to sign the first deal with the United States under a new trade talks framework on Thursday, it said in a brief statement, reported Reuters.
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Jun 01, 2023 05:23 AM IST
North Korea’s Kim Yo Jong promises more spy satellite launches: Report
North Korea’s Kim Yo Jong, leader Kim Jong Un’s sister, has said her country’s military spy satellite will soon enter into orbit and promised Pyongyang will increase military surveillance, state media KCNA reported on Thursday.
“We are ready to act whatever it may be in defending its sovereign right and interests,” Kim, a powerful government official in her own right, said in a statement carried by KCNA.
(Reuters)
world news
Global market: Asian stocks mixed, SGX Nifty down – key triggers that may dictate Indian stock market today — June 1 | Mint – Mint
Asian markets were trading mixed on Thursday as investors remained cautious amid the passage of US debt ceiling bill and the release of manufacturing data of several Asian countries, including China.
In the US, the House of Representatives passed a bill to suspend the $31.4 trillion debt ceiling on Wednesday, with majority support from both Democrats and Republicans, avoiding a catastrophic default, Reuters reported.
The Republican-controlled House voted 314-117 to send the legislation to the Senate, which must enact the measure and get it to President Joe Biden’s desk.
In Japan, factory activity expanded in May as the final au Jibun Bank Japan manufacturing purchasing managers’ index (PMI) stood at 50.6, led by increases in output and new orders, Reuters reported.
However, South Korea’s factory activity shrank for an 11th consecutive month in May. The S&P Global’s seasonally adjusted PMI for South Korean manufacturers stood at 48.4 last month as a slowing global economy hit output and orders.
Asian Markets
Japan’s Nikkei 225 rose 0.56% to cross the 31,000 mark, while the Topix gained 0.2%.
South Korea’s Kospi and Kosdaq rose marginally, while Hong Kong’s Hang Seng index futures were trading lower.
Meanwhile, SGX Nifty was trading 71 points, or 0.38%, lower at 18,593.
US Markets
US stocks ended lower overnight as investors awaited a crucial vote on the debt ceiling deal in Congress.
The S&P 500 closed 25.69 points, or 0.61%, lower at 4,179.83, while the Dow Jones Industrial Average fell 134.51 points, or 0.41%, to 32,908.27. The Nasdaq Composite dropped 82.14 points, or 0.63%, to end at 12,935.29.
European Markets
European stocks declined on Wednesday amid concerns over global slowdown. The pan-European STOXX 600 index ended 1.1% lower, after hitting its lowest level since March 30.
Britain’s FTSE 100 declined 1% to 7,446.14, while Germany’s DAX lost 1.5% at 15,664.02. France CAC 40 shed 1.5% to 7,098.70.
Currencies
The US dollar retreated from a two-week high against its major peers amid trimmed bets that the Federal Reserve will raise interest rates this month, though the looming debt ceiling deadline gave safe haven support to the greenback.
The US dollar index rose 0.06% to 104.21. Euro rose 0.04% against the greenback to $1.06895, while Sterling slipped 0.01% to $1.2440.
Energy
Crude oil prices fell for the third straight session amid fears of oversupply after a large build was seen in US crude stocks last week. Signs of weaker demand from China also dragged oil prices lower.
Brent crude futures for August delivery declined 0.6% to $72.20 a barrel, while US West Texas Intermediate crude (WTI) fell 0.6% to $67.70 a barrel.
Gold prices today
Gold prices rose in early Asian trade led by a softer dollar, trading in a range as traders focused on the US debt ceiling vote.
Spot gold rose 0.2% to $1,965.61 per ounce, while US gold futures inched 0.2% higher at $1,965.20.
(With inputs from Reuters)
Know your inner investor
Do you have the nerves of steel or do you get insomniac over your investments? Let’s define your investment approach.
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Updated: 01 Jun 2023, 08:01 AM IST
world news
Global market: Asian stocks mixed, SGX Nifty down – key triggers that may dictate Indian stock market today — June 1 | Mint – Mint
Asian markets were trading mixed on Thursday as investors remained cautious amid the passage of US debt ceiling bill and the release of manufacturing data of several Asian countries, including China.
In the US, the House of Representatives passed a bill to suspend the $31.4 trillion debt ceiling on Wednesday, with majority support from both Democrats and Republicans, avoiding a catastrophic default, Reuters reported.
The Republican-controlled House voted 314-117 to send the legislation to the Senate, which must enact the measure and get it to President Joe Biden’s desk.
In Japan, factory activity expanded in May as the final au Jibun Bank Japan manufacturing purchasing managers’ index (PMI) stood at 50.6, led by increases in output and new orders, Reuters reported.
However, South Korea’s factory activity shrank for an 11th consecutive month in May. The S&P Global’s seasonally adjusted PMI for South Korean manufacturers stood at 48.4 last month as a slowing global economy hit output and orders.
Asian Markets
Japan’s Nikkei 225 rose 0.56% to cross the 31,000 mark, while the Topix gained 0.2%.
South Korea’s Kospi and Kosdaq rose marginally, while Hong Kong’s Hang Seng index futures were trading lower.
Meanwhile, SGX Nifty was trading 71 points, or 0.38%, lower at 18,593.
US Markets
US stocks ended lower overnight as investors awaited a crucial vote on the debt ceiling deal in Congress.
The S&P 500 closed 25.69 points, or 0.61%, lower at 4,179.83, while the Dow Jones Industrial Average fell 134.51 points, or 0.41%, to 32,908.27. The Nasdaq Composite dropped 82.14 points, or 0.63%, to end at 12,935.29.
European Markets
European stocks declined on Wednesday amid concerns over global slowdown. The pan-European STOXX 600 index ended 1.1% lower, after hitting its lowest level since March 30.
Britain’s FTSE 100 declined 1% to 7,446.14, while Germany’s DAX lost 1.5% at 15,664.02. France CAC 40 shed 1.5% to 7,098.70.
Currencies
The US dollar retreated from a two-week high against its major peers amid trimmed bets that the Federal Reserve will raise interest rates this month, though the looming debt ceiling deadline gave safe haven support to the greenback.
The US dollar index rose 0.06% to 104.21. Euro rose 0.04% against the greenback to $1.06895, while Sterling slipped 0.01% to $1.2440.
Energy
Crude oil prices fell for the third straight session amid fears of oversupply after a large build was seen in US crude stocks last week. Signs of weaker demand from China also dragged oil prices lower.
Brent crude futures for August delivery declined 0.6% to $72.20 a barrel, while US West Texas Intermediate crude (WTI) fell 0.6% to $67.70 a barrel.
Gold prices today
Gold prices rose in early Asian trade led by a softer dollar, trading in a range as traders focused on the US debt ceiling vote.
Spot gold rose 0.2% to $1,965.61 per ounce, while US gold futures inched 0.2% higher at $1,965.20.
(With inputs from Reuters)
Know your inner investor
Do you have the nerves of steel or do you get insomniac over your investments? Let’s define your investment approach.
Download The Mint News App to get Daily Market Updates.
Updated: 01 Jun 2023, 08:01 AM IST
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