Latest Stock Market News

Walmart shares sank 8.1% a day after touching a record high. The retail giant said U.S. consumers were spending cautiously because of inflation, even as it raised its annual forecast for sales and profit.

The dollar was on track for a weekly drop, making gold less expensive for buyers holding other currencies, while yields on 10-year Treasury notes hovered near two-month lows.

Brent futures were up 10 cents, or 0.1%, at $77.52 a barrel at 0232 GMT. U.S. West Texas Intermediate crude (WTI) was nearly flat at $72.95. Both indices have lost around a sixth of their value over the last four weeks.

The death cross appears on a chart when a stock’s short-term simple moving average (SMA) crosses below its long-term moving average on the downside

Among the major movers in the market were index major Tata Consultancy Services, PB Fintech, and Kalyan Jewellers India.

In a move that shocked investors, the Hangzhou-based tech giant said Thursday that US curbs on exports of advanced chips had forced it to call off the spinoff of its cloud computing arm.

India’s gross domestic product (GDP) expanded 7.8% in the first quarter of FY24, through which the RBI expects the economy to grow 6.5%. An ET poll of economists has pegged the second-quarter growth rate at 6.7%. Several global economic think-tanks expect India to be the growth driver through this year and the next although global trade remains rather shaky, posing expansion challenges for several competing high-growth economies.

Sebi is yet to recover Rs 62,000 crore from the Sahara Group. As on March 31, 2023, Sebi has received 19,650 applications involving 53,687 accounts. Refunds have been made with respect to 17,526 applications involving 48,326 accounts for an aggregate amount of Rs 138.07 crore.

ICICI Bank was the arranger for the issue. The funds will be used to primarily refinance existing debt raised earlier to build the greenfield airport in the northern tip of the small state that has the highest per capita income in the country and traffic volumes that far exceed the permanent population base.

The improved profitability in the September quarter, along with the expected improvement in the December and March quarters is expected to lift the average operating profit per tonne of cement makers to ₹970 per tonne in FY24 compared with ₹745 per tonne a year ago, Axis Securities said in a note.