Latest Stock Market News

US stock indexes closed lower as investors turned cautious ahead of economic reports and a meeting between political leaders to discuss the debt ceiling. The market was anxiously waiting for the US consumer price index report, which will give an insight into whether inflation is easing, and for the meeting between US President Joe Biden, Republican House Speaker Kevin McCarthy, and other congressional leaders, to discuss the debt ceiling.

Oil prices fell in early trade after industry data revealed an unexpected increase in US crude inventory. Brent crude was down 16 cents to $77.28 a barrel, and US West Texas Intermediate dipped 20 cents to $73.51.

PayPal late on Monday estimated adjusted operating margin expansion of 100 basis points this year, compared with its earlier forecast of 125-basis-point growth. The company is focusing on enterprise-focused unbranded checkouts, which are less profitable than its own branded checkout button.

New York Federal Reserve President, John Williams, has said that it is too early to conclude whether the Fed is done with interest rate hikes, observing that any additional policy firming may be required to curtail inflation. Williams maintained that the vibrant job market remains strong and expects the economy to grow moderately this year. However, he anticipates that the inflation rate will fall to 3.25% this year and return to the 2% target by 2025. At the moment, traders are still pricing in the strong possibility of a rate cut this year, with many forecasting that the Fed will remain unchanged during its June meeting.

The Indian stock market ended mixed on Tuesday. S&P BSE Sensex was flat while the Nifty50 managed to maintain 18250 levels. Telecom, IT, and auto stocks witnessed buying while selling was seen in public sector, utilities, and realty. Stocks like Mahanagar Gas, Indraprastha Gas, and Firstsource Solutions were up. Experts recommend buying MGL, IGL, and FSL on current dips as they are looking good on the chart and more upside can be seen in the next 6-8 months.

The 200-day DMA is used as a key indicator by traders for determining the overall trend in a particular stock.

The fast moving consumer goods major is seen reporting a double-digit growth in the consolidated net profit for the March quarter, on the back of a similar growth in the topline.

The Carlyle Group has invested $5bn in India over the past 18 years, with private equity among the top sectors for the firm, according to Chairman of Carlyle Asia, Xiang-Dong Yang. India’s GDP growth, increased scale and complexity of the country’s economy, and the growing number of capable entrepreneurs position it well for the next five to 20 years, said Yang. He highlighted the mobility factor of production and increasing productivity gains as key drivers for sustained growth, and said India has become more sophisticated in talking about sectorial themes.

The Indian Banks’ Association has approached the Reserve Bank of India (RBI) to facilitate capital relief for banks and financial institutions (FIs) in order to boost trade credit insurance penetration in the trade finance line of business. This move is expected to propel forward factoring and bill discounting products that are backed by trade credit insurance.

JPMorgan believes the $45 billion worth of investments and capex across business verticals to be fully value accretive by FY25. This is not priced in by the current stock price which offers an attractive risk-reward, the brokerage said.