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Business Standard
4 days ago
- Business
- Business Standard
Dollar index minimizes losses ahead of US non-farms jobs report
Dollar index is seen minimizing losses and recovering from a six week low ahead of Mays US Nonfarm Payrolls. Weak data from US during the week coupled with US-China trade uncertainty and Trump urging Powell for a rate cut together added pressure on the US currency. ISM PMI readings during the week revealed contractions in both manufacturing and services sectors. Moreover, ADP figures revealed a much lower-than-expected increase in employment in May. Upcoming jobs data due for release later today could provide clues on Feds future stance and guide further direction for the greenback. The dollar index that measures the greenback against a basket of currencies is seen trading at 98.93, up 0.23% on the day. Among basket currencies, EURUSD and GBPUSD are both quoting lower by around 0.2% at $1.1426 and $1.3545 respectively.
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Business Standard
5 days ago
- Business
- Business Standard
Stock Market LIVE: Sensex, Nifty settle flat in pre-open ahead of RBI policy decision
Sensex Today | Stock Market LIVE on Friday, June 6, 2025: Around 8:50 AM, GIFT Nifty futures were trading 9 points lower at 24,853, indicating a flat start for the bourses. 9:05 AM Stock Market LIVE Updates: Rupee opens lower ahead of RBI policy Stock Market LIVE Updates: Indian Rupee opened 9 paise lower on Friday, ahead of the monetary policy committee's repo rate decision. Rupee opened at 85.87 per US dollar vs Thursday's close of 85.79/$ 8:58 AM Stock Market LIVE Updates: New to investing? BSE's free Nivesh Mitra app helps you learn without risk Stock Market LIVE Updates: Thinking about investing in stocks or mutual funds but don't know where to start? You're not alone — and now you don't have to jump in blind. BSE, India's oldest stock exchange, has launched BSE Nivesh Mitra, a free, easy-to-use learning app for anyone who wants to understand how the markets work — without actually spending real money. And the best part? It's backed by market regulator Sebi which means it's completely educational, unbiased, and safe. READ MORE 8:54 AM Stock Market LIVE Updates: Pre-opening view Stock Market LIVE Updates: Pre-opening view -- Uncertainty, which has been looming large on the global economic horizon, has spiked with the open spat between President Trump and Elon Musk. -- This unprecedented clash between two of the world's most powerful and mercurial personalities will have its consequences on the policies of the US administration. -- Chinese restrictions on exports of rare earth minerals and magnets, in response to the reciprocal tariffs imposed by US, have already started impacting the EV automobile industry. -- Important US data like US ISM PMI and jobless claims indicate that the US economy is slowing down. US is likely to end 2025 with a GDP growth of mere 1%. -- US bond yields are likely to fall further which will be positive for EMs, particularly India, whose growth prospects are the brightest. -- In today's monetary policy the RBI is likely to cut policy rates by 25 bp. This is already factored in by the market. More important will be the RBI commentary on growth and inflation projections for FY26. If the inflation forecast is cut from 4% the market would respond positively. 8:54 AM Stock Market LIVE Updates: Pre-opening view Stock Market LIVE Updates: Pre-opening view -- Uncertainty, which has been looming large on the global economic horizon, has spiked with the open spat between President Trump and Elon Musk. -- This unprecedented clash between two of the world's most powerful and mercurial personalities will have its consequences on the policies of the US administration. -- Chinese restrictions on exports of rare earth minerals and magnets, in response to the reciprocal tariffs imposed by US, have already started impacting the EV automobile industry. -- Important US data like US ISM PMI and jobless claims indicate that the US economy is slowing down. US is likely to end 2025 with a GDP growth of mere 1 per cent. -- US bond yields are likely to fall further which will be positive for EMs, particularly India, whose growth prospects are the brightest. -- In today's monetary policy the RBI is likely to cut policy rates by 25 bps. This is already factored in by the market. More important will be the RBI commentary on growth and inflation projections for FY26. If the inflation forecast is cut from 4 per cent the market would respond positively. 8:51 AM Stock Market LIVE Updates: Cognizant wins two mega deals, eyes return to IT top four by 2027 Stock Market LIVE Updates: Cognizant said on Wednesday it has won two 'mega deals' (worth $500 million at least) so far in its second quarter, taking the total to three in 2025 as it works to once again rank among the top four IT services companies in three years. The Nasdaq-listed company follows a January to December financial calendar. The two deals won in the second quarter, which ends on June 30, are in the communication, media and technology and health sciences business, said Surya Gummadi, president of Cognizant Americas, at a Bank of America technology conference. READ MORE 8:37 AM Stock Market LIVE Updates: Views on Gold Stock Market LIVE Updates: Views on Gold -- Gold prices have eased from elevated levels following US President Donald Trump's announcement of renewed trade talks with Chinese President Xi Jinping. --This development has lifted sentiment around risk assets, raising hopes that the ongoing tariff war between the two nations might soon reach a truce — a scenario typically unfavourable for bullion. -- However, markets are awaiting further clarity on the talks. In the immediate term, attention now shifts to upcoming US Jobs data. -- A stronger-than-expected reading could put additional pressure on gold prices, while any disappointment is likely to limit the downside, especially with growing expectations of at least two interest rate cuts by the US Federal Reserve in 2025 amid persistently weak economic indicators. Views by: Aksha Kamboj, vice president, India Bullion and Jewellers Association and executive chairperson, Aspect Global Ventures 8:35 AM Stock Market LIVE Updates: Wockhardt's novel antibiotic Zaynich eyes $9 billion global market 8:09 AM Stock Market LIVE Updates: Nifty Bank Strategy: How to use a 'Bull Spread' for June 26 expiry decoded
NDTV
5 days ago
- Business
- NDTV
Market Opens In Green Amid Mixed Global Cues, Sensex Gains 300 Points In Early Trade
Mumbai: The domestic benchmark indices opened higher on Thursday amid mixed global cues, as buying was seen in the pharma, auto and IT sectors in the early trade. At around 9.29 am, Sensex was trading 268.8 points or 0.33 per cent up at 81,267.09 while Nifty added 82.75 point or 0.34 per cent at 24,702.95. Nifty Bank was down 29.70 points or 0.05 per cent at 55,647.15. The Nifty Midcap 100 index was trading at 58,188 after rising 263.35 points or 0.45 per cent. Nifty Smallcap 100 index was at 18,398.75 after climbing 141.65 points or 0.78 per cent. According to analysts, the Nifty ended higher on Wednesday and the India VIX fell nearly 5 per cent, which bulls would have liked to see. "For Nifty, 24,462 remains intact and that's keeping the optimism alive. Should this level break, the market will most likely drop to key support at 23,800. Short-term resistance sits between 24,760 and 24,882. Globally, stock bulls have tailwinds," said Akshay Chinchalkar, Head of Research, Axis Securities. Meanwhile, in the Sensex pack, Eternal, PowerGrid, M&M, HDFC Bank, HCL Tech, TCS, IndusInd Bank and Kotak Mahindra Bank were the top gainers. Whereas Nestle India, Titan, Bajaj Finance, Tata Motors and Tech Mahindra were the top losers. According to analysts, both geopolitical and economic news are likely to weigh on markets in the near-term. 'The major economic news is the sharp dip in the US ISM PMI data. This indicates that the US economy is slowing down sharply. The US 10-year bond yield has declined to 4.36 per cent and, given the slowing US economy, is likely to trend lower," according to Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Ltd. This will turn out to be good for emerging markets (EMs) like India in the medium term. Buy on dips continues to be the ideal strategy now. Rate sensitives will be preferred in view of the expected rate cut by the RBI MPC, said experts. In the Asian markets, Hong Kong, Bangkok, Seoul, China and Jakarta were trading in green, whereas only Japan was trading in red. In the last trading session, Dow Jones in the US closed at 42,427.74, down 91.90 points, or 0.22 per cent. The S&P 500 ended with a gain of 0.44 points, or 0.01 per cent, at 5,970.81 and the Nasdaq closed at 19,460.49, up 61.53 points, or 0.32 per cent. On the institutional front, foreign institutional investors (FIIs) were net buyers as they bought equities worth 1,076.18 crore on June 4, while domestic institutional investors (DIIs) purchased equities worth 2,566.82 crore.
India Today
5 days ago
- Business
- India Today
Sensex, Nifty rise as RBI rate cut hopes lift market; pharma stocks rally
Benchmark stock market indices opened higher on Thursday, extending gains from the last session as investors await a rate cut from the policy meeting of the Reerve Bank of India (RBI). Pharma and healthcare sector stocks gained in early S&P BSE Sensex was up 273 points to 81,271.25, while the NSE Nifty50 gained 86.55 points to 24,706.75 as of 9:29 VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said that both geopolitical and economic news are likely to weigh on markets in the near-term. "A serious concern is a potential Russian retaliation to the recent Ukraine attacks on Russian planes. How serious this will be and what will be its consequences are unknown factors now. The major economic news is the sharp dip in the US ISM PMI data. This indicates that the US economy is slowing down sharply," he BSE Sensex opened with some momentum as several stocks posted early gains in the first few minutes of led the charge right from the opening bell, surging 2.99%, followed by Reliance Industries which jumped 1.21%. PowerGrid Corporation of India also opened on a positive note, climbing 1.13%, while Adani Ports and Special Economic Zone rose 1.05%. Mahindra & Mahindra rounded out the top five gainers with an increase of 0.58%.advertisementBajaj Finance was the worst performer in early trade, declining 0.59%, while Nestle India retreated 0.40%. Bajaj Finserv also opened lower, falling 0.33%, and Bharti Airtel dropped 0.30%. Axis Bank completed the list of top five losers with a decline of 0.26%."The US 10-year bond yield has declined to 4.36 % and, given the slowing US economy, is likely to trend lower. This will turn out to be good for EMs like India in the medium term, but the spike in uncertainty will keep the market within the present range for the near-term. Buy on dips continues to be the ideal strategy now. Rate sensitives will be preferred in view of the expected rate cut by the MPC on June 8," said Vijayakumar.
Yahoo
20-05-2025
- Business
- Yahoo
Tariffs push manufacturing into stagnation through 2025: ISM forecast
This story was originally published on Manufacturing Dive. To receive daily news and insights, subscribe to our free daily Manufacturing Dive newsletter. Manufacturing revenue will remain relatively flat through the end of the year, according to an economic forecast out last week from the Institute for Supply Management. Revenue for the year is slated to grow by only 0.1%, as tariffs drive up prices and spread uncertainty. The outlook is a significant drop from ISM's annual forecast for 4.2% growth shared in December, and lower than the 0.8% growth seen last year. Raw material prices are set to skyrocket 7.5% this year, according to the forecast, driven up in large part by the Trump administration's tariffs. "We've gone into another liquidity year, rather than a productivity year, all driven by tariffs," said Timothy Fiore, former chair of the ISM's manufacturing business survey committee. The outlook stands in contrast to the optimism seen for the industry at the start of the year, when ISM's Purchasing Managers' Index, a key indicator of economic health, reentered growth mode for the first time in more than two years. Since then, however, the industry has been on a downward slide. Industry confidence and consumer demand have both fallen amid the Trump administration's tariff policies, leading manufacturers to pull back on production. Tariffs dominated survey respondents' concerns for both the April ISM PMI and the forecast survey, as manufacturers remain preoccupied with the policies' impact on metrics like production and export orders. "When we started the year, we thought the second half would be better than the first. That's not what we're seeing here, because we're seeing continual price inflation through the second half of the year," Fiore said. "I don't see this as a good manufacturing year at all." The higher costs are pushing manufacturers to pull back on spending – ISM survey respondents expect capital expenditures to drop 1.3% this year, down from a December 2024 projection of a 5.2% increase. Other industry analysts are also highlighting the stalled growth caused by the tariffs. During a webinar hosted by analysis firm Omdia on Monday, senior research manager Joanne Goh said the levies are causing many companies to hit pause on new investment. The result has been a delay on an industry bounceback. "When tariffs hit, everything got delayed. The earliest recovery we are expecting is 2026," Goh said. Manufacturers have yet to initiate widespread layoffs, with employment expected to remain relatively stable, with only a 0.1% dip. Fiore, however, is less optimistic, saying he believes there could be more job losses later in the year as manufacturers feel the squeeze of lower demand and higher input prices. "In a liquidity year, employment is going to drop," he said. "The only way to work through this is by passing prices through or improving productivity, and it's really hard to improve that in a contracting environment." In ISM's forecast survey, respondents reported that their companies were operating, on average, at 79.2% of normal capacity. That operating capacity is 3.1 percentage points lower than the capacity reported in December. Eight of 18 manufacturing sectors are expected to see revenue growth this year: primary metals; miscellaneous manufacturing; computer and electronic products; chemical products; electrical equipment, appliances and components; printing and related support activities; food, beverage and tobacco products; and transportation equipment. As for how manufacturers should approach the latter half of the year, Fiore advised manufacturers to do what they can to weather the current storm. "Control what you can, protect your customers, protect your basic business, and wait for the grow-out," Fiore said. "Hunker down for 2025 and get ready for 2026.' Disclosure: Informa, which owns a controlling stake in Informa TechTarget, the publisher behind Manufacturing Dive, is also invested in Omdia. Informa has no influence over Manufacturing Dive's coverage. Recommended Reading 'We're headed in the wrong direction': Tariffs drive up prices, hurt output: PMI Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
