Asian stocks tracked gains in US peers as an easing in US consumer inflation expectations bolstered the case for the Federal Reserve to cut rates this year.Markets in Australia, South Korea and Japan posted modest gains on Monday, while futures for Hong Kong equities also gained. Contracts for US stocks were little changed in early Asian trading.
Wall Street got a degree of relief as University of Michigan data showed consumers expect prices to climb at a 3.3% annual rate over the next year, down from the 3.5% expected earlier in the month.
Here's a table showing how US stocks performed on Friday:
Stock/Index | LTP | Change ($) | Change (%) | Day High | Day Low | 52-Week High | 52-Week Low |
---|---|---|---|---|---|---|---|
Alphabet | 176.33 | 1.27 | 0.73% | 177.3 | 175.2 | 179.95 | 115.83 |
Apple | 189.98 | 3.1 | 1.66% | 190.58 | 188.04 | 199.62 | 164.08 |
Meta | 478.22 | 12.44 | 2.67% | 479.85 | 466.3 | 531.49 | 249.17 |
Tesla | 179.24 | 5.5 | 3.17% | 180.08 | 173.73 | 299.29 | 138.8 |
Netflix | 646.75 | 11.08 | 1.74% | 652 | 637.6 | 652 | 344.73 |
Amazon | 180.75 | -0.3 | -0.17% | 182.44 | 180.3 | 191.7 | 114.31 |
Microsoft | 430.16 | 3.16 | 0.74% | 431.06 | 424.41 | 433.6 | 309.45 |
Dow Jones | 39069.59 | 4.33 | 0.01% | 39220.31 | 39020.29 | 40077.4 | 32327.2 |
Nasdaq | 18808.35 | 184.96 | 0.99% | 18851.99 | 18664.79 | 18907.54 | 13812.19 |
At present, the BSE Sensex is trading 144 points higher and NSE Nifty is trading 37 points higher.
Adani Ports, Hindalco and JSW Steel are among the top gainers today.
ONGC, Wipro and Maruti Suzuki the other hand are among the top losers today.
For a comprehensive overview of key players in the financial sector, check out list of Fin Nifty Companies.
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Broader markets are trading on positive note. The BSE Midcap index ended 0.6% higher and the BSE Smallcap index is trading 0.4% higher.
Sectoral indices are trading mixed, with socks in telecom sector, metal sector and realty sector witnessed buying. Meanwhile the stocks in auto sector, energy sector and power sector witnessed selling pressure.
The rupee is trading at Rs 83.09 against the US dollar.
In commodity markets, gold prices are trading 0.5% higher at Rs 71,576 per 10 grams today.
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Railways construction major Rail Vikas Nigam Ltd (RVNL) announced on Friday, 24 May, that it has emerged as the lowest bidder for a Rs 1.9 bn metro stations project in Nagpur.
The duration for the execution of the order is 30 months.
Rail Vikas Nigam Limited (RVNL) has emerged as the lowest bidder (L1) for a project from Maharashtra Metro Rail Corporation Limited (Nagpur Metro).
The project involves the construction of six elevated metro stations-Cantonment, Kamptee Police Station, Kamptee Municipal Council, Dragon Palace, Golf Club, and Kanhan River Metro Station. These stations are located between Ch. 7576.78mm and Ch. 13457.76m in Reach 2B of the Nagpur Metro Rail Project (NMRP) Phase 2.
This development was announced by the rail public sector undertaking (PSU) to the exchanges.
Dubai-based healthcare company, Aster DM, has entered into an agreement with Cauvery Medical Centre for the expansion of its existing Aster CMI Hospital premises by adding another 350 beds approximately to the existing hospital.
Aster CMI is a 500-bed super speciality hospital in Bengaluru's Hebbal area. The proposed capacity addition is 300,000 sq feet in Aster CMI Hospital.
The proposed capacity is expected to be completed by the financial year 2027.
The additional capacity of 3,00,000 sq ft is being developed by Cauvery Medical Centre.
The amendment agreement was executed on 25 May 2024 to amend the existing hospital O&M Agreement executed on 12 May 2014.
The healthcare company said that the original term of the O&M Agreement was 24 years and the term of the agreement has now been revised in the amendment agreement extending it for a further tenure of five years. This resulted in the revised term of the O&M agreement for 19 years, starting from the current financial year 2025.
Aster DM along with its subsidiaries in India has an existing installed capacity of 4,867 beds as of date.
The company's occupancy was 68% of its existing capacity during FY23 and 68% during FY24.
Aster DM aims to take its total bed tally in India to 6600+ in the next three years.
State-run power generator NTPC Ltd recorded gross power generation of 93.387 billion units (BU) in Q4, 4.1% higher than 89.668 BUs recorded in the same period of the previous year. This comes amid a rise in power demand amid high temperatures across the country.
Compared to the previous quarter, the gross electricity generation of NTPC rose 4.4% in Q4 from 89.467 BUs recorded in Q3FY24.
Amid rising power demand in the country, India's total stock of coal at pit-head and on transit to thermal power plants (TPPs) reported a growth of 25% to 147 metric tonnes (MT) as of 15 May, compared to a stock of 117 MT on the same day last year.
In the full year FY24, NTPC recorded gross power generation of 361.703 BUs, compared to 344.272 BUs in FY23, an increase of 5.1%.
Meanwhile, with the decline in natural gas prices, NTPC gas consumption showed a sharp spike of 131.7% to 0.95 MMSCMD in the fourth quarter from 0.41 MMSCMD last year.
The company's board of directors recommended a final dividend of Rs 3.25 per equity share for the financial year 2023-24, subject to the approval of the shareholders in the annual general meeting.
The board also accorded the in-principle approval for incorporation of a wholly owned subsidiary company for undertaking nuclear energy business, subject to the approval of its administrative Ministry i.e. Ministry of Power, DIPAM, Niti Aayog and/or other statutory authorities as may be required.
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