Latest Stock Market News

Disappointing forecasts from Home Depot and soft April US retail sales data led to US stock indexes closing lower on Tuesday, with sentiment hit by uncertainty around interest rates and debt limit negotiations. Home Depot was one of the biggest drags on the Dow Industrials and S&P 500 after it cut its annual sales forecast and projected a deeper-than-expected decline in profit. Recent data indicates slowing in the US economy after a string of rate hikes by the Federal Reserve to fight high inflation.

Oil prices have decreased by 0.4% as a result of rising concerns surrounding demand following weaker-than-expected economic data from China and the US, which are the biggest oil consumers. The international Energy Agency has increased its global oil demand forecast for this year by 200k bpd to 102 million bpd, although analysts predict that too much oil is still available and the economic outlook remains uncertain. In addition, talks on raising the US debt ceiling continue to weigh on the market, while the G7 is expected to announce new steps on expanding sanctions on Russia at its upcoming summit in Japan.

The dollar hit a two-week high of 136.69 yen due to a safety bid as the US approached its borrowing limit, while strong economic data diminished market expectations of immediate rate cuts. Analysts forecast that the dollar would continue to rise if further rate cuts were taken off the table. Meanwhile, President Joe Biden has edged closer to a deal with Republican Kevin McCarthy to prevent a US debt default. Japanese growth figures beat market expectations, providing stability to the yen, which had been falling as US yields drove the dollar up.

The US Fed has signalled a pause while it waits for the impact of the policy rate hikes taken till now to percolate through the real economy. The labour market in the USA remains very tight and this is one critical area in which the US Fed expects to cool off.

I think clearly there are the organised companies and organised hospitals are offering superior quality services, and they are able to charge a premium for that which is visible in their superior returns on equity and hence, I think that is the reason why we are fairly positive on this particular micro segment within the healthcare space.

Golden Cross is an important technical indicator of bullishness. It occurs when the short-term moving average crosses over the major long-term moving average on the upside.

Indian market closed in the red on Tuesday after a 2-day winning streak, following mixed global cues. The S&P BSE Sensex fell by over 400 points, while the Nifty50 closed above 18200. Buying was seen in public sector, power, and capital goods stocks, while auto, healthcare, banks, and FMCG names experienced selling. PVR Inox fell more than 2%, HUDCO increased nearly 7%, and Aurobindo Pharma closed with gains of over 4%. Analysts suggest selling PVR on the rise and buying HUDCO and Aurobindo Pharma at current levels or on dips.

"We are still debating about how to infuse capital into the housing finance company. The debate is whether we should infuse capital or we should unlock the value by diluting 10-20% of our holding, or go for an initial public offer. We are not yet clear about the path we want to take," Shriram Finance Managing Director YS Chakravarti told ET.

Today, we are growing our retail loans organically at 27%, which is faster than probably any private sector bank. We have also been able to attract talent from almost every bank, retain it, and also use it in terms of key functions to upgrade ourselves, says Sanjiv Chadha.

Bullish Harami is a two-bar candlestick pattern after a downtrend. The first bar is a red candlestick, normally followed by a standard or long legged doji. This doji is completely engulfed by the preceding candle.​