Gift Nifty indicates a flat to negative start for the Indian market; US Market closed all-time high; Asian markets also traded firmly following the Wall Street

PRE MARKET

Gift Nifty indicates a flat to negative start for the broader index in India, with a loss of 20 points or 0.08 percent. The Nifty futures were trading around the 25,761 level.

Wall Street extended its rally on Friday, sending the S&P 500 and Nasdaq to all-time closing highs as trade deal hopes fueled investor risk appetite and economic data helped solidify expectations for rate cuts from the U.S. Federal Reserve.

The Dow Jones Industrial Average rose 432.43 points, or 1.00%, to 43,819.27, the S&P 500 gained 32.05 points, or 0.52%, to 6,173.07, and the Nasdaq Composite gained 105.55 points, or 0.52%, to 20,273.46.

Asia shares firmed on Monday as seemingly unquenchable demand for technology companies lifted S&P 500 futures to another all-time peak, while the dollar dipped on concerns U.S. jobs data will show enough weakness to justify larger rate cuts.

Japan’s Nikkei went up by 1.68 percent, the KOSPI index also went up 0.91 percent, while the Taiwanese weighted index and Hong Kong’s Hang Seng slipped 0.56 and 0.68 percent, respectively.

STOCKS TODAY

Jyoti CNC Automation

Non-promoter shareholders are likely to sell approximately 6% of Jyoti CNC Automation via block deals. The deal size is estimated at around Rs 1,542 crore.

Bharat Heavy Electricals

Bharat Heavy Electricals (BHEL) has received a letter of award worth Rs 6,500 crore from Adani Power. The order is for the supply of equipment, including steam turbine generators and auxiliaries for supervision of the erection and commissioning of six 800 MW thermal units.

Alembic Pharmaceuticals

Alembic Pharmaceuticals received final approval from the USFDA for its ANDA for Doxorubicin Hydrochloride Liposome Injection. The product is therapeutically equivalent to Baxter’s Doxil Liposome Injection and is used to treat ovarian cancer, AIDS-related Kaposi’s Sarcoma, and multiple myeloma.

Waaree Energies

Waaree Solar Americas, a subsidiary of Waaree Energies, has received an order to supply 540 MW of solar modules to a US-based utility-scale solar and energy storage project developer.

Prestige Estates Projects

Prestige Estates and Arihant Group have agreed to jointly acquire a 3.48-acre parcel in Velachery, Chennai, via their JV, Canopy Living LLP. The project spans approximately 7.5 lakh square feet, with a gross development value of over Rs 1,600 crore.

Source – Moneycontrol