PRE MARKET
Gift Nifty was trading around 23,891 level, a discount of nearly 87 points from the Nifty futures’ previous close, indicating a negative start for the Indian stock market indices.
US stock market ended mixed on Tuesday, with the S&P 500 and Nasdaq hitting record closing highs, led by a rally in semiconductor stocks amid AI-fueled optimism.
The Dow Jones Industrial Average up 64.51 points, or 0.13%, to 50,526.19, while the S&P 500 gained 45.65 points, or 0.61%, to 7,519.12. The Nasdaq Composite closed 312.21 points, or 1.19%, higher at 26,656.18
Asian markets traded mostly higher on Wednesday, with Japan and South Korea’s benchmark indices hitting new highs.
Japan’s Nikkei 225 rallied 1.32% to a fresh record high, while South Korea’s Kospi jumped 4.84%, Hong Kong’s Hang Seng index futures indicated a lower opening.
STOCKS IN NEWS
Coal India
State-owned miner Coal India Limited said in an exchange filing on Tuesday that the Government of India will divest up to a 2% stake in the company through the offer for sale (OFS) route between May 27 and May 29.
Brainbees Solutions (FirstCry)
Brainbees Solutions reduced its consolidated net loss to ₹30.30 crore in the quarter ended March, compared with ₹77 crore in the corresponding period last year, marking a 61% decline.
ONGC
The company posted a mixed performance in Q4, with revenue increasing 13.9% quarter-on-quarter to ₹35,928 crore.
JK Tyre & Industries
JK Tyre posted a robust performance in the fourth quarter, with net profit jumping 80.2% year-on-year to ₹178 crore. Revenue grew 12.4% to ₹4,223.4 crore, while EBITDA climbed 47.9% to ₹537.1 crore.
Source: Mint, Moneycontrol