Latest Stock Market News

Stocks in news: Shares of Tata Steel, Arvind Fashions, Route Mobile, Adani Ports, and NBCC will be in focus due to various news developments including investments, collaborations, and project approvals.

The dollar traded near a four-week high against the euro after U.S. inflation data suggested the Federal Reserve might avoid a large interest rate cut. Meanwhile, the European Central Bank is expected to announce a quarter-point rate reduction, with investors keen on future rate cut hints.

U.S. central bankers are expected to initiate interest rate cuts next week with a quarter-percentage-point reduction. This move aims to lower recession risks despite persistent price pressures. Recent data shows core inflation remains steady, prompting cautious action from the Fed, which has maintained rates in the 5.25%-5.50% range since last year.

Domestic equities fell on Wednesday amid global volatility ahead of US inflation data and the Trump-Harris debate. The market is expected to consolidate at a higher zone with a focus on rate-sensitive sectors. Key stocks in the F&O ban include Balrampur Chini Mills, Hindustan Copper, and others.

A drop in oil prices is beneficial for India, a major crude importer. Paints, tyres, oil marketing companies, and airlines are set to gain from lower costs. However, oil exploration companies face challenges due to reduced realisations. Analysts note the positive impact on marketing margins and raw material costs for various sectors.

Investors are increasingly turning to gold ETFs due to favorable tax changes, reduced customs duty, and the absence of new Sovereign Gold Bonds. Over the past four months, gold ETFs have seen significant inflows, driven by these factors and geopolitical uncertainties that are expected to keep gold prices strong.

Godrej Capital, part of Godrej Industries Group, plans an IPO in the next two to three years. The company aims to raise ₹500 crore-₹1,000 crore from its parent for lending. With a goal of reaching ₹50,000 crore AUM by FY28, it currently has ₹10,500 crore AUM and focuses on MSME and housing sectors.

U.S. oil stockpiles rose across the board last week as crude imports grew and exports dipped and as gasoline and distillate demand weakened, the Energy Information Administration (EIA) said on Wednesday.

Yields on the 10 year benchmark yields softened to a 30-month low to 6.82%, tracking a softening in the US bond yields due to a fall in crude oil prices yesterday. This is the lowest level since March 31st 2022, LSEG data showed.