PRE MARKET
GIFT Nifty indicate a muted start for the broader index in India, with a down of -83.50 points or -0.34 percent. The Nifty futures were trading around 24,432.50 level.
The S&P 500 and the Nasdaq surged to record-high closes on Wednesday, buoyed by signs of a resolution in the Middle East conflict, while strong earnings from Advanced Micro Devices sparked a rally in chipmakers and other AI-related stocks.
The S&P 500 climbed 1.46% to end the session at 7,365.09 points. The Nasdaq gained 2.03% to 25,838.94 points, while the Dow Jones Industrial Average rose 0.12% to 49,970.29 points.
Asian equities climbed to a record, powered by a rally in Japanese stocks on their return from a break, as optimism grew that the US and Iran were nearing a deal to end the conflict that had rattled markets and clouded the economic outlook.
Japan’s Nikkei, Hong Kong’s Hang Seng, and the Taiwanese weighted index edged up 5.60, 1.48, and 2.10 percent respectively.
STOCKS IN NEWS
Biocon Limited
The company has denied reports of any succession planning or leadership change following exchange queries over a news report. The clarification comes after a report suggested Kiran Mazumdar-Shaw had chosen her niece as successor, which also triggered stock price movement on May 6.
Kaiser Corporation Limited
It has submitted a “Report on Complaints” to the exchanges as part of its ongoing merger process. The filing relates to a proposed amalgamation of Emazing Deals Limited (transferor) into Kaiser Corporation (transferee).
ACME Solar Holdings Limited
It has announced that its subsidiary has commissioned an 8 MW wind power project in Gujarat.
Source – Moneycontrol
