PRE MARKET
Gift Nifty indicates a positive start for the broader index in India, with a gain of 93.5 points or 0.40 percent. The Nifty futures were trading around the 23,213.50 level.
Wall Street ended lower on Thursday, with declines in Micron Technology and Tesla, as worries about inflation stemming from soaring oil prices left investors pessimistic about the potential for future interest rate cuts.
Investors focused on warnings by Federal Reserve Chair Jerome Powell on Wednesday that the economic outlook remains uncertain amid a U.S.-Israeli war with Iran that has sent energy prices soaring and created fears of inflation. The Fed left rates unchanged, as expected.
The S&P 500 declined 0.27% to end the session at 6,606.49 points. The Nasdaq declined 0.28% to 22,090.69 points, while the Dow Jones Industrial Average declined 0.44% to 46,021.43 points.
Asian equities advanced early on Friday after US stocks rebounded from session lows and oil retreated amid efforts by the US and Israel to ease concerns over the Iran war.
Japan’s Nikkei is closed, while Hong Kong’s Hang Seng edged down -0.47 percent.
STOCKS IN NEWS
Tata Consultancy Services
TCS has signed a Memorandum of Understanding (MoU) with ABB to strengthen the two companies’ strategic collaboration across IT infrastructure and applications, digital and industrial AI initiatives, data centres, and other emerging technologies.
IndiQube Spaces
The company has signed a significant workspace leasing agreement with a leading GCC client in Pune. The client has taken up 1,140 seats at IndiQube Orchid, spread across multiple floors. The deal is valued at around Rs 54 crore over a tenure of five years.
NTPC
The company has signed a Memorandum of Understanding (MoU) with Octopus Energy Group, a leader in clean energy and digital energy platforms, to explore strategic collaboration across the power and energy sector.
Samvardhana Motherson International
The Board has approved the execution of a Joint Venture Agreement with Hellmann Worldwide Logistics (MESA) Holding, a company incorporated under the laws of the Dubai International Financial Centre, United Arab Emirates (UAE).
This strategic partnership will enable the company, via its logistics solutions division, to provide supply chain solutions to the automotive industry and support customers with essential logistics requirements.
Archean Chemical Industries
The Board has approved the merger of Idealis Chemicals with Idealis Mudchemie. Idealis Chemicals is a wholly owned subsidiary of the company, while Idealis Mudchemie is a wholly owned subsidiary of Idealis Chemicals.
Source – Moneycontrol
