Latest Stock Market News

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​This indicates a bullish sentiment in the market, as the average traded and delivered quantity for 5 days along with the cumulative open interest, and the price for the stocks have increased. ​

The major U.S. stock indices closed down on Wednesday as investors expressed concern that the Federal Reserve may hike interest rates again in June if the "hawkish pause" proved to be fleeting. Although the House of Representatives is poised to vote for a bill to lift the federal debt ceiling, the economy is still slowing, and inflation needs to decline further. Futures traders predict a 70% probability of a 25-basis-point hike at the June 13-14 Fed meeting. Tim Ghriskey, Chief Investment Strategist at Inverness Counsel, said forthcoming employment data could determine whether a rate hike occurs.

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​Bearish reversal pattern on the candlestick screener can help ascertain stocks where the trend can change downward from an uptrend zone.​

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Arnault first surpassed Musk in December as the tech industry struggled and luxury showed resilience in the face of inflation. LVMH, which Arnault founded, owns brands including Louis Vuitton, Fendi and Hennessy. Faith in the luxury sector’s buoyancy is starting to fade amid mounting signs of slowing economic growth, particularly in the critical market of China. LVMH shares have tumbled about 10% since April, at one point wiping $11 billion from Arnault’s net worth in a single day.

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Gold prices increased slightly in Asia, supported by a weaker dollar, but was range-bound as traders watched for the critical U.S. debt ceiling vote. Spot gold rose 0.2% to $1,965.61 per ounce while U.S. gold futures increased 0.2% to $1,965.20. The dollar index eased from a more than two-month high, prompting buyers from overseas to purchase more of the metal. Investors kept a watchful eye on the vote, which would be critical to global financial markets if a default occurred. Data showed that U.S. job openings in April increased, pointing to a strong labour market with the potentiality to prompt the Fed to raise interest rates.

Sebi moots tough rules to lift FPI veil

Updated at : 2023-06-01 07:35:02

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Sebi has to give a finality to the Adani probe, preserve its reputation, change the rules if needed, convince FATF as well as keep alive the interest of FPIs. It can only hope that the price would not be too high.

Lenders reject Go First’s pleas for undrawn funds

Updated at : 2023-06-01 07:35:02

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Go First has undrawn limits of about Rs 200 crore under the government’s emergency credit line guarantee scheme (ECLGS), which was introduced to support sectors like travel and tourism that were hit hard by the Covid-19 pandemic disruptions, they said. The banks’ decision not to release more money is likely to further delay any chances of the airline resuming operations.

Liquidity surplus shoots past Rs 1 lakh crore

Updated at : 2023-06-01 07:35:02

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In the first fortnight of May, the average daily quantum of extra funds parked by banks with the RBI dropped to ₹56,578 crore, almost four times lower than an average daily surplus of ₹2 lakh crore in the same period a month ago.

Govt to sell up to 3% in Coal India via OFS

Updated at : 2023-06-01 07:35:02

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The government has proposed to sell up to 9.24 crore shares representing 1.50% of the total paid-up equity as a base offer with an option to additionally sell 9.24 shares or 1.5% of the company equity in the event of oversubscription.

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SBI Mutual Fund bought 1.42 crore shares worth ₹823 crore, while Society Generale purchased 33 lakh shares worth ₹193 crore. Other large buyers include Norges Bank, WF Asian Smaller Companies Fund, Aditya Birla Sun Life MF, ICICI Prudential Mutual Fund, and T Rowe Price Asia bought shares worth between ₹100 crore and ₹150 crore.

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