Sensex Today Live Updates

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Sensex Today Live Updates : Asian stocks swung between gains and losses with sentiment influenced by poor Chinese data and optimism over reports the country will start selling ultra-long bonds.

Hong Kong’s equity benchmark climbed to the highest since August, while mainland-listed shares were mostly lower. Japanese and Australian equity indexes both fell. China’s 1 trillion yuan ($138 billion) ultra-long special bond issuance program will began Friday and eventually include 20-, 30- and 50-year debt, according to people familiar with the matter.

News of the planned debt issuance boosted sentiment after weak Chinese data published over the weekend had led to initial stock losses. The specter of further US-China trade tensions also intensified with a report on how much President Biden is set to increase tariffs on Chinese electric vehicles.

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Sensex Today Live Updates

“You are looking at a slightly muddied growth outlook” for China, Sonal Desai, chief investment officer at Franklin Templeton said in an interview on Bloomberg Television before news of the debt sale was published. Regardless of who gets elected in the US election in November, we are going to see an escalation of US-China trade tensions, he said.

Bloomberg’s dollar index and benchmark 10-year Treasuries were both little changed. Japanese bonds fell after the central bank offered to purchase a smaller amount of government debt than at a previous auction.

Investors are scrutinizing comments by US officials for signs of how long the Federal Reserve will keep interest rates at elevated levels. Fed Bank of Dallas President Lorie Logan said last week it’s still too early to think about lowering borrowing costs, while Governor Michelle Bowman said she doesn’t expect it will be appropriate for the Fed to cut rates in 2024.

Potential major catalysts for markets this week include a policy rate decision from China on Wednesday and a US April inflation print the same day.

Sensex Today Live Updates

Sensex Today: India

“There is growing confidence in the Chinese market, even though the economic indicators do not fully support this optimism,” said Tareck Horchani, head of prime brokerage dealing at Maybank Securities Pte. “The movement seems to be driven more by technical factors than fundamental ones.”

The weak Chinese data weighed on oil Monday, with commodity traders also looking ahead to an OPEC meeting on supply policy.

Iraqi Oil Minister Hayyan Abdul Ghani initially said at the weekend that Baghdad had cut production enough and wouldn’t agree to more. But later, he said that any decision was a matter for OPEC, and it would stick to whatever the group decided. OPEC meets June 1.

Elsewhere this week, the euro area is set to report inflation and growth figures while a swath of Federal Reserve officials are due to speak including Chair Jerome Powell.

US and European stock futures were little changed.

Sensex Today Live Updates : Hinduja Global Solutions launches comprehensive suite of cybersecurity solutions

Sensex Today Live : Hinduja Global Solutions today announced the launch of a comprehensive suite of cybersecurity solutions for the market. The suite comprises of seven cybersecurity solution offerings designed to provide enterprises with state-of-the-art protection against evolving cyber threats, the company said in an exchange filing.

Sensex Today Live : 11 am market update

Sensex Today Live : Indian benchmark indices were trading deep in the red on Monday, tracking weakness in the Asian peers that were subdued due to muted economic data from China.

At 11 am, Sensex was down 614.56 points, or 0.85%, at 72,049.91, and Nifty was down 182.35 points, or 0.83%, at 21,872.85.

Sensex Today Live Updates : Biocon signs semi-exclusive deal with Medix for generic weight management drug, Liraglutide

Sensex Today Live : Biocon has announced a semi-exclusive distribution and supply agreement with Mexico’s specialty pharmaceutical company, Medix involving the commercialization of Biocon’s drug product, Liraglutide (gSaxenda), used for chronic weight management.

As per the agreement, Biocon will be responsible for obtaining regulatory approval, manufacturing, and supplying the drug product. On the other hand, Medix will handle its commercialization in the Mexican market.

Sensex Today Live Updates

Sensex Today Live Updates : Indegene lists at 45% premium on market debut, misses GMP estimates

Sensex Today Live : Indegene Limited made a strong entry in the stock market, with its shares listing at 655, marking a 45% premium over the issue price of 452.

Despite the impressive debut, the gains fell short of grey market predictions, where shares were anticipated to trade at a 68% premium.

The grey market, an unofficial platform where shares are traded before the subscription offer opens and until the listing day, had set higher expectations for the debut.

Sensex Today Live Updates : Bank of India shares tumble more than 10% after company posts 7% YoY rise in Q4 net profit

Sensex Today Live : Bank of India announced a 7% increase in its net profit, reaching 1,439 crore for Q4 of FY 2023-24. The bank’s gross non-performing asset (NPA) ratio improved to 4.98%, down from 5.35% in the previous quarter and 7.31% a year ago.

The net NPA ratio also showed a positive trend, standing at 1.22% as of March 31, compared to 1.41% as of December 31, 2023, and 1.66% as of March 31, 2023.

The bank’s board has approved a capital raise of up to 5,000 crore through the issuance of Basel III compliant Additional Tier 1 and Tier 2 bonds, each worth 2,500 crore.

Net Interest Income (NII) saw a year-on-year increase of 7%, amounting to 5,937 crore for Q4FY24, up from 5,523 crore for Q4FY23.

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Sensex Today Live : Why foreign investors ploughed into India’s telecom stocks

Sensex Today Live : In April, foreign investors infused nearly a billion dollars into telecom stocks, marking the sector as their top preference for the second consecutive month. This surge of investment signals a return of optimism to a sector previously plagued by stagnant tariffs, high debt, and ongoing litigation.

Market experts suggest that many of the elements that rekindled interest in the telecom sector are likely to persist, indicating potential for continued growth. This renewed confidence in the sector represents a significant shift in investor sentiment and forecasts a positive trajectory for the telecom industry.

Sensex Today Live : 10 am market update

Sensex Today Live : Indian benchmark indices were trading deep in the red on Monday, tracking weakness in the Asian peers that were subdued due to muted economic data from China.

At 10 am, Sensex was down 742.6 points, or 1.02%, at 71,921.87, and Nifty was down 204.90 points, or 0.93%, at 21,850.30.

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