IT Sector Selling May Ease as Banks and FMCG Stay Favored: Expert
The wider market has held steady even as information technology shares faced ongoing weakness. Market observer Neeraj Dewan noted that the sector came under pressure after firms gave cautious remarks following March quarter results, leading to continued sales. He said investor trust would return only if companies offer clearer growth prospects and better forecasts. Firms had not been upbeat about the year ahead, which shows in the selling pressure observed. Stronger signals from companies are needed to restore confidence, given the weak guidance provided. Valuations in several IT stocks have become more attractive after the sharp drop, with shares such...
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Central government securities rose in early trading on Thursday, ignoring higher US Treasury yields. Support came from lower oil prices and stronger foreign demand ahead of possible inclusion in a Bloomberg bond index. The benchmark 6.94% 2036 bond yield stood at 6.7207% by 11:15 a.m., down from 6.7563% at Wednesday’s close. Bond yields move inversely
Beijing: Oil prices fell in early trading on Thursday after Qatar reported that Iran and the United States had achieved positive progress in indirect negotiations that ended on Wednesday. The discussions centered on the Strait of Hormuz, which carried one-fifth of global oil supply before the conflict. Brent futures declined 73 cents, or 1.02 percent,
Demand for 5kg LPG cylinders among immigrant labourers has dropped by as much as 80 percent following recent price increases. The sharp decline reflects reduced purchasing power among low-income households that rely on these smaller cylinders for daily cooking needs. Industry observers note that higher costs have forced many users to cut consumption or seek
New Delhi: The Food Safety and Standards Authority of India has issued notices to six beverage companies for allegedly misbranding products and making unapproved promotional claims using the term energy drinks. The notices were sent on Wednesday as part of efforts to strengthen rules on food labelling and advertising. The companies named include Red Bull
US stocks closed modestly lower on Wednesday, weighed down by declines in technology shares. Gains in Meta Platforms and comments from Federal Reserve Chair Kevin Warsh provided limited support. Warsh noted that inflation risks have eased recently and reaffirmed the central bank’s 2% target, stating he would not ease policy despite calls for rate cuts
| Index / Asset | Price | Day Chg | 52W High | 52W Low |
|---|---|---|---|---|
| SENSEX | 77331.65 | +409.01 (+0.53%) | 86159.02 | 71545.81 |
| NIFTY 50 | 24140.5 | +134.65 (+0.56%) | 26373.2 | 22182.55 |
| NIFTY BANK | 58033.25 | +0.2 (+0%) | 61764.85 | 49954.85 |
| USD/INR | 95.25 | +0.01 (+0.01%) | 97.05 | 84.56 |
| Gold (10g MCX) | ₹1,51,852 | +514 (-0.34%) | ₹2,02,797 | ₹1,24,218 |
| Brent Crude | $71.11 | -0.46(-0.64%) | $126.1 | $58.72 |
