Latest Stock Market News

Oil prices increased for a second straight day as the US intends to buy oil for the Strategic Petroleum Reserve (SPR) and wildfires in Canada raised supply worries. Brent crude futures gained 0.4% to $75.54 per barrel, while West Texas Intermediate crude rose 0.4% to $71.38 per barrel. The US Department of Energy announced plans on Monday to acquire 3 million barrels of crude oil for delivery in August, and bid requests are expected to be in by 31 May. Global crude supplies could also drop if OPEC+ goes ahead with further output cuts in H2 2022.

We have generated more than 20% cumulative alpha over the last 2 years. Since the last 8 months, I have taken over the flexi fund which has started to see early signs of turnaround by being in the top quartile within 3 months.

The US dollar is being affected by the possibility of a default as the standoff between Democrats and Republicans over raising the debt ceiling continues. The US dollar index, which measures the currency against a basket of six major peers, was at 102.39 after retreating from its five-month high. Treasury Secretary Janet Yellen said that the country could reach its borrowing limit as soon as June 1. Senior FX strategist at Westpac, Sean Callow, warns that the US dollar price action has been "very messy". The potential for the dollar index is to drop, with Westpac seeing it dropping to around 101.05 in the short term.

Gold prices dipped in early Asian trading as investors assessed statements from US central bank officials indicating that interest rates will remain high given potential inflation and a weak economy. Atlanta Fed President Raphael Bostic announced his inclination to keep interest rates unchanged at the next meeting. Meanwhile, the debt-ceiling debate progresses, with the US Treasury Department anticipating payment of the government’s bills until 1 June without a debt limit increase. Market volatility exacerbates interpretation of the New York Federal Reserve’s plunging May manufacturing activity survey.

Real estate-focused AIFs offer several benefits to investors including transparent governance, portfolio diversification, tax-friendly structures and a smooth investment experience.

In the last 12 months, weighted average lending rate on fresh loans sanctioned has increased by around 181 bps while weighted average domestic term deposit has increased by around 113 bps.

Consensus price target on Tata Motors rose 11.6% to ₹581.63, Bloomberg data showed. US brokerage house Jefferies sees 25% upside potential from the current levels, while BNP Paribas believes the stock can yield another 23% returns from here.

The anchor bid is submitted by the government backed National Asset Reconstruction Company Ltd (NARCL), one of the sources said. IDBI Capital Markets & Securities, acting on behalf of State Bank of India, Canara Bank, ICICI Bank, PNB, BOB, and Union Bank of India, has called bids for the debt of SPML Infra.

Credit worthiness of the sector was improving after Tata Group increased its presence in the sector acquiring Air India and with strong performance from IndiGo, but it has become highly negative after the bankruptcy filing by Go First, they said.

​​Analysts are, however, divided whether the index can continue its momentum after gaining almost 13% since March 15. Some expect the benchmark to extend its record-breaking run, while others fear the rally could fizzle out. If there is a sell-off in bank counters, they advise buying stocks such as SBI, Kotak Mahindra Bank, ICICI, Axis Bank, and IDFC First Bank.