Stock Market Live on Thursday, May 7: Indian equities may open with muted gains on Tuesday tracking Wall Street gains.
At 7:25 AM, The GIFT Nifty futures were up 36 points versus the Nifty 50 futures at 22,585 levels, indicating a higher start.
On Tuesday morning, Asia-Pacific markets extended gains on expectations that the Federal Reserve will cut interest rates. South Korea’s Kospi led with 1.75 per cent gains, followed by Japan’s Nikkei (up 0.91 per cent) and Hong Kong’s Hang Seng (up 0.23 per cent). Meanwhile, Australia’s ASX 200 rose 0.36 per cent.
On the other hand, Wall Street’s stock indices closed higher on the back of bullish market sentiment. Nasdaq settled 1.19 per cent higher while S&P 500 jumped 1.10 per cent. The Dow Jones, meanwhile, rose nearly 0.50 per cent.
Brent crude notched up by 0.17 per cent at $83.47 per bbl.
Stocks to watch
Godrej Consumer Products: Company reported a net loss of Rs 1,893.2 crore in Q4FY24. It reported an exceptional loss of Rs 2,375.6 crore.
Lupin: Pharmaceutical firm Lupin’s profit rose 52 per cent year-on-year (Y-o-Y) to Rs 359.4 crore for the January-March quarter of financial year 2023-24 (Q4FY24).
Gujarat Gas: The company’s net profit zoomed over 86 per cent to Rs 409.5 crore in the March quarter.
LTIMindtree: Company received GST demand order of Rs 155.7 crore for FY19.
