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Stock Market LIVE: GIFT Nifty signals flat open; Asia market dips; Trump tariffs reinstated
8:09 AM
Stock Market LIVE Updates: Reserve Bank of India lens on payment fintechs over misclassified merchants
Stock Market LIVE Updates: The Reserve Bank of India is investigating payment fintech companies for allegedly misclassifying merchants to take advantage of credit card fee structures, according to sources familiar with the matter. The probe has reportedly led major card networks to adjust their interchange rates.
Several payment aggregators are accused of classifying merchants, usually in the retail sector, as utility merchants—a category that typically attracts lower interchange fees. The reclassification allegedly enabled payment firms to retain the difference between the fees charged to merchants and the amounts received by issuing bank s. READ MORE
8:05 AM
Stock Market LIVE Updates: Bandhan Bank stock startegy
-- Long build up is seen in Bandhan Bank Futures, where we have seen 17 per cent rise in open interest with Bandhan Bank share price rising 1 per cent on Thursday, May 29.
-- Bandhan Bank stock price has been forming bullish 'higher top-higher bottom' formation on the daily chart.
-- RSI oscillator is in rising mode and placed above 60 on the daily chart, indicating strength in the current uptrend. READ MORE
7:58 AM
Stock Market LIVE Updates: Currency circulation rises 5.8% as ₹2,000 note impact fades: RBI
Stock Market LIVE Updates: The growth of currency in circulation, which constitutes the largest component of reserve money at 76.9 per cent, rebounded to 5.8 per cent in 2024-25, up from 4.1 per cent the previous year. This recovery is attributed to the easing impact of the ₹2,000 note withdrawal, according to the Reserve Bank of India's (RBI) Annual Report 2024-25.
The withdrawal of ₹2,000 banknotes from circulation began on May 19, 2023. By March 31, approximately 98.2 per cent of these notes—totaling ₹3.56 trillion—had been returned to the banking system.
The RBI has made facilities available for exchanging and depositing ₹2,000 notes at 19 of its issue offices across the country. READ MORE
7:53 AM
Stock Market LIVE Updates: India's defence budget may near Rs 32 trillion by 2047: CII-KPMG report
Stock Market LIVE Updates: India's defence budget is projected to increase nearly fivefold, reaching Rs 31.7 trillion by 2047 from Rs 6.81 trillion in FY2025-26, according to the Defence Industrial Sector Vision 2047 report by the Confederation of Indian Industry (CII) and KPMG India. Defence production is expected to grow over sixfold to Rs 8.8 trillion from Rs 1.46 trillion in FY2024-25.
Unveiled on Thursday at the CII Annual Business Summit in New Delhi, the report—titled 'Atmanirbhar, Agrani, and Atulya Bharat 2047'—also forecasts India's defence exports to surge nearly twelvefold to Rs 2.8 trillion by 2047, up from Rs 24,000 crore in FY2024-25. Additionally, total research and development (R&D) spending is expected to rise from the current 4 per cent of the defence budget to 8-10 per cent, while defence expenditure as a percentage of GDP could double from 2 per cent to 4-5 per cent. The report calls these targets major milestones and highlights three key conditions that must be met in the coming years to realise these goals. READ MORE
7:46 AM
Stock Market LIVE Updates: Nifty trading strategy: Apply Bull Call Spread as index remains in uptrend
Stock Market LIVE Updates: Nifty trading stratgey
-- The Nifty index has structurally resumed its upward trajectory after forming a likely swing low at 24,462 on May 22.
-- The trend remains positive as long as the swing low at 24,462 is intact. Short-term dips should be viewed as buying opportunities within this broader uptrend.
-- Healthy market breadth suggests a potential resurgence in broader market momentum, with an upside target of 25,500 in the near term. READ MORE
7:42 AM
Stock Market LIVE Updates: Improved execution likely to drive growth gains for Bharat Dynamics
Stock Market LIVE Updates: Defence major Bharat Dynamics Limited (BDL), a public sector undertaking, posted a mixed performance in the fourth quarter of FY2024-25. Although its revenues doubled compared to the same period last year, profitability fell short of expectations. The company's strong order inflows and robust backlog provide good revenue visibility.
However, brokerages stress that the key factor will be the pace of order execution, as BDL manufactures guided missiles and related equipment for the Indian armed forces. READ MORE
7:36 AM
Stock Market LIVE Updates: Realisation worries, capital expenditure likely to hit NMDC stock
Stock Market LIVE Updates: NMDC reported Q4FY25 revenue of ₹7,000 crore, marking an 8 per cent year-on-year (Y-o-Y) increase and a 7 per cent rise quarter-on-quarter (Q-o-Q), supported by strong volumes and improved net sales realisation (NSR).
Iron ore production remained steady at 13.3 million tonnes (mt), showing no major change Y-o-Y or Q-o-Q. Sales volume reached 12.7 mt, up 1 per cent Y-o-Y and 6 per cent Q-o-Q during the quarter.
The average sales price stood at ₹5,530 per tonne, reflecting a 7 per cent Y-o-Y increase and remaining flat compared to the previous quarter. READ MORE
7:30 AM
Stock Market LIVE Updates: Sebi unveils new OI metric, position limits in fresh F&O overhaul
Stock Market LIVE Updates: The Securities and Exchange Board of India (Sebi) on Thursday announced a new framework for the derivatives segment, introducing updated methods to calculate open interest (OI) and market-wide position limits (MWPL).
These changes are designed to boost risk monitoring, reduce the number of stocks entering the futures and options (F&O) ban period, and strengthen controls against manipulation risks and concentration in index options.
Initially proposed in a Sebi consultation paper, the measures raised concerns about potentially dampening trading activity, with F&O volumes already down 30 per cent from their peak. However, following extensive discussions with industry stakeholders, Sebi made several key revisions to the original proposals.
7:26 AM
Stock Market LIVE Updates: Tokyo's core inflation jumps o 3.6% in May
Stock Market LIVE Updates: Tokyo's core inflation accelerated to 3.6 per cent in May, marking the fastest increase in over two years.
The core consumer price index (CPI), which excludes fresh food, rose 3.6 per cent year-on-year (Y-o-Y), up from 3.4 per cent in April, the Statistics Bureau of Japan reported on Friday.
This latest figure is the highest since January 2023 and exceeded economists' forecasts of 3.5 per cent, according to a Reuters poll. It represents the quickest annual rise since January 2023, when core inflation reached 4.3 per cent, based on LSEG data.
The increase was partly influenced by the base effect from last year's sharp decline, which followed the introduction of school education subsidies and the phase-out of nationwide utility bill subsidies.
Meanwhile, Tokyo's headline consumer price index in May stood at 3.4 per cent year-on-year, slightly down from 3.5 per cent in April.
Source: CNBC
7:24 AM
Stock Market LIVE Updates: Sebi probing delayed disclosures of accounting lapses at IndusInd Banka
Stock Market LIVE Updates: The Securities and Exchange Board of India (Sebi) may issue a follow-up order against IndusInd Bank for potential breaches of the Listing Obligations and Disclosure Requirements (LODR) regulations, according to indications in the regulator's 32-page interim order.
Sebi's review of internal email communications—summarised in its May 28 order—revealed that senior executives, including the chief financial officer (CFO), were aware of accounting discrepancies as early as November 2023.
However, the bank delayed disclosure, classifying information related to derivatives losses as 'unpublished price-sensitive information' (UPSI) only on March 4. It wasn't until March 10 that IndusInd Bank notified stock exchanges, leading to a 27 per cent plunge in its share price. READ MORE
7:22 AM
Stock Market LIVE Updates: Trump tariffs reinstated by appeals court for now
Stock Market LIVE Updates: A federal appeals court on Thursday granted the Trump administration's request to temporarily halt a lower court ruling that invalidated most of President Donald Trump's tariffs.
The US Court of Appeals for the Federal Circuit issued an order stating that the decision by the US Court of International Trade, delivered Wednesday night, is "temporarily stayed until further notice" while it reviews the case.
The move provides the Trump administration with some breathing room as it prepares to argue for a longer suspension of the trade court's ruling throughout the appeals process.
The administration had warned it would seek "emergency relief" from the Supreme Court as early as Friday if the ruling wasn't paused swiftly.
Despite the legal setback, Trump officials insist they still have alternative pathways to impose tariffs, even if the current case doesn't go in their favour.
7:21 AM
Stock Market LIVE Updates: India's GDP growth likely accelerated in Q4 on rural demand, state spending
Stock Market LIVE Updates: India's economic growth likely accelerated in the January–March quarter, driven by a rebound in rural demand and increased government spending, even as private sector investments remained subdued due to global uncertainties.
According to a Reuters poll of economists, gross domestic product (GDP) is estimated to have expanded by 6.7 per cent year-on-year during the March quarter, up from 6.2 per cent in the preceding three months.
'Rural consumption saw an uptick during the quarter, although urban demand indicators were mixed,' said Gaura Sen Gupta, chief economist at IDFC First Bank Economic Research. She added that government expenditure continued to support investment activity. READ MORE
7:11 AM
Stock Market LIVE Updates: US markets end higher on Thursday
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Time of India
35 minutes ago
- Time of India
Rupee rises 12 paise to 85.43 against US dollar in early trade
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel The rupee appreciated by 12 paise to 85.43 against the US dollar in early trade on Monday on the back of a weak American currency and favourable macroeconomic data that fuelled hope of a further reduction in key interest rate in the RBI's upcoming monetary a volatile equity market, outflow of foreign funds and higher crude oil prices amid global trade related uncertainties weighed on the Indian currency, according to forex traders Analysts also said that market participants will be closely monitoring key macroeconomic announcements for further Monetary Policy Committee (MPC) will begin the deliberations on its next bi-monthly policy on June 4 and the outcome is scheduled to be announced on June PMI (Purchasing Managers' Index) data for manufacturing and services sectors is also expected to be announced this the interbank foreign exchange, the domestic unit opened at 85.55 and gained further ground to trade at 85.43 against the greenback in initial deals, registering a rise of 12 paise from its previous rupee ended 7 paise lower at 85.55 against the dollar on the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading lower by 0.05 per cent at crude, the global oil benchmark, rose 2.12 per cent to USD 64.11 per barrel in futures the domestic equity market, the 30-share BSE Sensex tumbled 709.10 points, or 0.87 per cent, to 80,741.91, while the Nifty dropped 196.00 points or 0.79 per cent to 24,554.70. Foreign institutional investors (FIIs) sold equities worth Rs 6,449.74 crore on a net basis on Friday, according to exchange to the latest govern data released on Friday, the Indian economy expanded at a faster pace than expected in the last quarter of the 2024-25 fiscal. The GDP growth rate of 7.4 per cent in January-March period of FY25 reflected a strong cyclical rebound that was helped by a rise in private consumption and robust growth in construction and government also managed to meet its fiscal deficit target of 4.8 per cent of the GDP for 2024-25, according to the provisional data released by the Controller General of Accounts on country's gross GST collection remained above the Rs 2 lakh crore mark for the second month in a row, rising 16.4 per cent in May to over Rs 2.01 lakh crore. Goods and Services Tax (GST) collection had touched a record high of Rs 2.37 lakh crore in Reserve Bank's weekly data released on Friday showed India's forex reserves jumped by USD 6.992 billion to USD 692.721 billion during the week ended May 23. The reserve had dropped by USD 4.888 billion to USD 685.729 billion in the preceding week. PTI
Time of India
38 minutes ago
- Time of India
Why is the stock market down today? Sensex slumps over 700 pts, Nifty slips below 24,600; 5 key reasons behind the decline
Here are five key reasons behind today's market decline: 1. U.S. tariffs on metals threaten Indian exporters Live Events 2. Weak global cues and trade tension jitters 3. Caution ahead of U.S. Fed commentary and jobs data 4. Domestic selloff in key sectors 5. Russia-Ukraine conflict (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Indian equity benchmarks fell sharply on Monday, with the Sensex and Nifty trading lower amid selling pressure in metal and IT stocks. The weakness overshadowed India's strong GDP growth figures, as global cues remained mixed and investors turned cautious ahead of key U.S. macroeconomic around 9:42 am, the BSE Sensex had declined 704 points, or 0.86%, to 80,747, while the Nifty50 was down 168 points, or 0.68%, at 24, overall market capitalisation of BSE-listed companies dropped by Rs 2.06 lakh crore to Rs 442.13 lakh crore. The Nifty Metal index led the losses with a 1.4% decline, while the Nifty IT index fell 1.25%, weighed down by concerns over the U.S. economy and trade policy. Broader markets also remained under pressure, with small-cap and mid-cap indices slipping 0.3% economy had posted a strong 7.4% GDP growth in the January–March quarter, driven by manufacturing and construction. However, that optimism failed to lift sentiment amid external sentiment turned sour after U.S. President Donald Trump announced plans to double tariffs on imported steel and aluminium to 50%, effective June 4, 2025. This move is expected to adversely affect Indian metal exporters like Tata Steel Hindalco , and NALCO , which have significant exposure to the U.S. exported $4.56 billion worth of iron, steel, and aluminium products to the U.S. in FY2025. The tariff escalation, though not immediately impacting trade, has added uncertainty and is weighing on stocks in the metal sector."President Trump's 50% tariffs on steel and aluminium is a clear message that the tariff and trade scenario will continue to be uncertain and turbulent. This headwind will impact markets," said Dr. VK Vijayakumar, Chief Investment Strategist, Geojit and European markets showed signs of stress as investors grappled with the implications of escalating U.S.-China trade tensions. Japan's Nikkei dropped 1.4%, Hong Kong lost 2.5%, and U.S. futures also edged lower — with S&P 500 and Nasdaq futures down up to 0.5%.Markets are also uncertain about whether the U.S. will follow through with the tariff hike, creating additional volatility. While some regional indices like South Korea's gained slightly due to political optimism, the overall sentiment remained Read: India's top 10 priciest stocks in 2025: MRF to Elcid, see who tops the list Investors are bracing for a heavy week of macroeconomic updates from the U.S., especially the non-farm payrolls report and Federal Reserve commentary, which could influence the path of interest U.S. Senate is also set to consider a $3.8 trillion tax-and-spending bill, adding to concerns about the country's ballooning $36.2 trillion federal debt. As a result, long-term U.S. Treasury yields are nearing the critical 5% mark, which is adding to pressure on global equity Governor Christopher Waller on Monday indicated that rate cuts are still possible this year, but much will depend on incoming data. For now, markets are pricing in a 75% chance of a rate cut in September, though the Fed has not explicitly confirmed this home, selling was broad-based across sectors. Metal and IT stocks, which have global exposure, were among the hardest hit, reflecting external risks. Additionally, 10 of the 13 major sectoral indices on the NSE opened in the strong domestic data — with India's Q4 GDP growth at 7.4% — was not enough to support markets. Investors appear to be locking in gains after recent highs, as global uncertainties loom large over the near-term geopolitical concerns also weighed on investor sentiment after Ukraine launched drone attacks on five airbases deep inside Russian territory, reportedly destroying several aircraft. The incident comes just ahead of a scheduled peace summit in Turkey, raising fears of a possible escalation in the conflict if Russia intensification of the Russia-Ukraine war could disrupt global supply chains, especially in energy and commodities, leading to renewed volatility in global Read: Ola Electric, Kalyan Jewellers among 10 firms where promoters pledge increased in Q4
Time of India
38 minutes ago
- Time of India
India bond yields resume decline as all eyes on RBI decision this week
Indian government bond yields edged lower as the market anticipates a rate cut from the Reserve Bank of India. The yield on the benchmark 10-year bond decreased to 6.2132%. This movement follows unexpected growth data that caused fluctuations on Friday. The RBI's policy decision is expected on June 6, with a likely 25-basis-point rate cut.
