Latest Stock Market News

Apple took the top spot for global smartphone sales in the first quarter on the back of the iPhone 16e s launch and strong demand in countries such as Japan and India, data from Counterpoint Research showed on Monday.

Azadea Group, operator of Zara and Virgin Megastore in the Middle East, has delayed its IPO plans to prioritize business growth and regional expansion, unrelated to market volatility. Dubai Holding, a minority stakeholder, valued Azadea above $1 billion in 2018.

The dollar turned higher against the Japanese yen and euro on Monday after a bruising week last week sent it to a three-year low against the single currency but also left it oversold by some technical metrics.

State Bank of India has decreased interest rates on its 444-day special fixed deposit plan by 20 basis points, setting the rate at 7.05%. This decision follows the central bank s reduction of policy rates. Simultaneously, SBI has lowered interest rates on loans linked to external benchmarks by 25 basis points, effective April 15, reflecting improved liquidity in the banking system.

Intel will sell a 51% stake in its Altera programmable chip business to Silver Lake for $4.46 billion. This move, under new CEO Lip-Bu Tan, aims to revive Intel by streamlining operations and focusing on core businesses. The deal values Altera at $8.75 billion, significantly less than Intel s 2015 acquisition price. Raghib Hussain will become Altera CEO on May 5.

Indian markets, buoyed by a pause on Trump s tariffs, face a week packed with influences. Key factors include the US-China trade situation, Wall Street s performance, and Q4FY25 earnings from major companies like Wipro and HDFC Bank.

Crude oil prices have plummeted to 2021 levels due to trade war fears and OPEC Plus s decision to accelerate the unwinding of production cuts. The US imposed tariffs, triggering retaliatory measures from China and other nations, raising concerns about a global recession and reduced oil demand.

Elevated India VIX reflects market caution, making a Nifty breakout above 23,000 unlikely in the near term. Nifty Bank may face resistance, while Muthoot Finance looks bearish. Despite a shortened week, volatility may remain high. Top stock picks for the week include CCL and Anant Raj on technical breakouts.

Indian equity indices slipped 0.3% amid global trade tensions. Midcap stocks faced sharp losses, with Muthoot Finance, Thermax, and Indraprastha Gas leading the weekly decline across sectors.

13 companies will undergo corporate actions this holiday-shortened week, including dividends, stock splits, rights issues, and spin-offs.