Latest Stock Market News

The Dow Jones Industrial Average rose 28.8 points, or 0.08%, at the open to 38,140.26.

Shares of Gap climbed as much as 22% on Friday after the apparel retailer lifted its full-year sales forecast signaling that its turnaround strategy of bringing in newer styles is starting to work.

U.S. equity funds saw outflows for the first time four weeks in the seven days ended May 29, hit by rising bond yields and uncertainty over the timing and extent of Federal Reserve interest rate cuts.

The dollar steadied against peer currencies on Friday after a downward revision to U.S. GDP for the first quarter suggested room for the Federal Reserve to cut interest rates this year, while investors braced for a key inflation report.

The Nifty Bank index closed 0.62 per cent up at 48983.95.

The major trend of the market remains intact-to-positive till it holds the formation of higher lows on a monthly scale. After hitting a new peak at 23,110 on Monday, the index consistently fell and ended in red each day throughout the week, hitting a low below the 22,500 mark on Thursday.

Short covering signals a shift in view on security from extreme bearishness to bullishness

The 30-share BSE benchmark Sensex surged 76 points or 0.10% to settle at 73,961.

The Nifty Realty index was trading 1.14 per cent up at 1007.45.

Notably, multinational companies in this sector, such as those in bearings and chemicals, have posted exceptionally strong numbers. Therefore, we remain very positive on capital goods, defence, and manufacturing.