Equity Alert
Asian indices end mixed, KOSPI outperforms peers
This story was originally published at 15:15 IST on 1 June 2026
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Equity Alert: Asian indices end mixed, KOSPI outperforms peers
MUMBAI--1440 IST--Asian indices ended on a mixed note Monday in as the US and Iran carried out strikes against each other. The US targetted Iran's military sites and Iran struck a US military base in response. The South Korea benchmark index KOSPI outperformed its peer indices in the region to gain almost 4%. Both the KOSPI and Japan's Nikkei 225 index notched fresh record highs, driven by technology and semiconductor stocks.
"The measured and deliberate strikes occurred on Saturday and Sunday in response to aggressive Iranian actions that included the shootdown of a US MQ-1 drone that was operating over international waters," the US Central Command said in a public release. Over the weekend, US President Donald Trump had once again spoken of not rushing into a peace deal with Iran. "I'd like to say I'm in a hurry because gasoline prices are going to come tumbling down, but if you're going to be in a hurry, you're not going to make a good deal," Trump told Fox News in an interview. Brent Crude Oil futures climbed over 3% from Friday's lows to around $95 per barrel, likely limiting gains for Asian indices.
China's CSI 300 and SSE Composite indices closed in the red, down 1% and 0.3?ch. Japan's broader market TOPIX also ended lower while Australia's key S&P/ ASX 200 index closed flat. Hong Kong's Hang Send index advanced almost 1% for the day. The FTSE Singapore Strait Times was closed Monday for Vesak Day.
In some macroeconomic news, China's rate of manufacturing growth eased in May, according to the RatingDog China General Manufacturing Purchasing Managers' Index. The rate of growth eased slightly to 51.8 in May from 52.2 in April. However, it remained above 50.0 for the sixth month in a row, which indicates a continuation in expansion of manufacturing activity. An increase in new orders supported a rise in work at Chinese manufacturers in May, as per the news release. "...the manufacturing sector sustained its expansion in May, albeit at a slower pace. The easing of inflationary pressures provided some relief to firms' cost and pricing environments," Yao Yu, founder of RatingDog, said in the release.
The following were the levels of major Asian indices at 1442 IST:
| Index | Level | Change in % |
| CSI 300 Index | 4844.2556 | (-)0.98 |
| Hang Seng Index | 25398.18 | 0.86 |
| Nikkei 225 Day | 66934.33 | 0.91 |
| TOPIX FIRST SECTION | 3940.70 | (-)0.42 |
| KOSPI | 8788.38 | 3.68 |
| S&P/ASX 200 Index | 8729.40 | (-)0.03 |
(Ruchira Kagita)
Equity Alert: Indices extend fall; FMCG cos drag, IT stocks stay up
MUMBAI--1435 IST--The benchmark indices extended their fall heading into the final hour of trading. With less than 15 constituents up, the Nifty 50 fell below 23400 points. Fast-moving consumer goods companies, financial institutions, and automobile players dragged the 50-stock index down. Information technology stocks remained the top gainers in the Nifty 50.
At 1431 IST, the Nifty 50 was at 23392.85 points, down 0.7%. The BSE Sensex was at 74269.28 points, also down 0.7%. In the broader markets, the Nifty Smallcap indices fell 0.7–0.8% while the Nifty Midcap indices fell 1.1-1.3%. Among sectoral indices, the Nifty IT index sustained its rise of about 3% to remain the top gainer. The sector saw broad-based gains due to positive global sentiment around artificial-intelligence-related technology investment. The Nifty PSU Bank and Nifty FMCG were the worst performing sectoral indices, down around 2?ch.
Tata Consultancy Services, Infosys, and Tech Mahindra were up 2.1–4.6% and remained the top gainers in the Nifty 50. Notably, Tech Mahindra, up 4.8%, was the highest gainer in the Nifty 50 index and hit its three-month high at INR 1,562.50 per share. Its peers Coforge, LTM, and Persistent Systems were up 3.4–5.0% and were the highest gainers in the Nifty 200 index.
FMCG players ITC, Hindustan Unilever, and Tata Consumer Products were down 2.1–2.9% and remained the worst performers in the Nifty 50. Shriram Finance, Bajaj Finance, and Kotak Mahindra Bank were down 1.8–2.4%, leading the fall in financial stocks. Index heavyweights ICICI Bank and HDFC Bank were down 1.2% and 0.3%, respectively.
Indian Renewable Energy Development Agency extended its fall, down 5% to be among the worst-hit stocks in the Nifty 200 after the company's net profit for the March quarter fell 1.8% on year to INR 4.93 billion, driven by a rise in finance costs and provisions. Jaiprakash Power Ventures also extended its fall to over 13%, remaining the worst performing stock in the Nifty 500. (Shruti Nair)
Equity Alert: Inox Wind falls 10%; Q4 PAT, sales below view, profit down 51%
MUMBAI--1415 IST--Shares of Inox Wind fell nearly 10% from Friday to a one-month low of INR 84.50 after the company released its March quarter earnings. The company Friday reported a double-digit year-on-year fall in consolidated net profit for the reporting quarter. Both the bottom line and the top line were sharply below the Street's view.
For the March quarter, the company reported a consolidated net profit of INR 912.5 million, down 51% on year. The Street's estimate was INR 2.31 billion. The sales of the company rose just over 2% to INR 12.44 billion, also well below the expectations of INR 18.42 billion.
At 1411 IST, shares of Inox Wind were down over 9% at INR 84.15 on the National Stock Exchange. Over 40 million shares of the company changed hands on the NSE, which is nearly four times higher than the number of shares traded till the same time Friday. The number of shares traded Monday is higher than the average traded volume of over 15 million shares. (Adhithya Aji)
Equity Alert: NMDC Steel at 20-mo high after profit in Q4 vs loss year ago
MUMBAI--1347 IST--Shares of NMDC Steel surged around 18% to a 20-month high of INR 52.62 after the company posted a net profit for the March quarter, against a loss a year ago as well as the quarter ago. At 1334 IST, the stock gave up some gains and was trading 12% higher at INR 49.98. The volume of shares traded soared to around 93 million from over 3 million shares at the same time Friday.
The company posted a net profit of INR 3.92 billion for the March quarter, against a loss of INR 4.73 billion in the year-ago quarter and a loss of INR 2.44 billion for the December quarter. Its revenue rose around 37% on year to INR 38.79 billion for the quarter. The company's total expenses fell nearly 3% on year to INR 34.19 billion.
For 2025-26 (Apr-Mar), the company's net profit was INR 587.2 million, against a net loss of INR 23.74 billion for FY25, while revenue from operations surged over 60% to INR 136.42 billion. NMDC Steel's profits are expected to be "much greater" in FY27 as most of the operational aspects have been resolved, barring one or two, a senior NMDC official said in the post-earnings conference call Monday.
Of the three brokerage reports on the company available with Informist, two have a 'buy' recommendation on the stock, while one has a 'hold' recommendation. (Ashutosh Pati)
Equity Alert: IT cos up; Nifty IT at one-month high, up for second session
MUMBAI--1330 IST--Most information technology stocks traded higher Monday with Tech Mahindra gaining the most in the Nifty 50 index. Among sectoral indices, the Nifty IT led the pack of gainers and was almost 4% higher. All constituents of the sectoral index were higher. The Nifty IT hit an over one-month high of 30238.15 Monday.
"Indian IT stocks advanced sharply as the global boom in artificial intelligence (AI) spending continued to drive demand for technology services," said Sundar Kewat, technical and derivatives analyst at Ashika Institutional Equity Research. "Strong expectations of higher digital transformation and AI-related investments boosted sentiment across the IT sector, leading to broad-based gains in technology stocks."
The global brokerage CLSA said on Indian IT companies that artificial intelligence necessitated a pricing model shift from seat-based to consumption-based, NDTV Profit posted on its X account, citing the brokerage. The latest guidance and earnings-per-share numbers continue to be robust, according to the brokerage.
It also sees IT companies with strong partnerships with software as service providers to have healthy demand for product engineering and implementation-related work. Wipro has the highest software as a service exposure within the large-cap space. Persistent Systems also has large exposure, the brokerage said.
The Nifty IT index was up for the second session and gained nearly 5% during this period. At 1309 IST, shares of Persistent Systems, Tech Mahindra, Coforge, LTM, Infosys, Mphasis, Tata Consultancy Services, Oracle Financial Services, HCL Technologies, and Wipro were 1.3-5.3% higher. (Arundathi A R)
Equity Alert: Indices fall more; Nifty 50 below 23500; FMCG, fincl cos drag
MUMBAI--1320 IST--Benchmark indices extended losses in afternoon trade, with less than 15 constituents of the Nifty 50 trading with gains. The escalation in tensions between the US and Iran has diffused hopes of a peace deal between the two countries, which had boosted market sentiment in the previous week. While shares of financial institutions and fast-moving consumer goods companies remained a drag on the Nifty 50 index, information technology stocks extended gains.
At 1311 IST, the Nifty 50 was at 23461.05, down 0.4%, while the BSE Sensex was at 74505.73, down 0.4%. In the broader markets, Nifty small-cap indices were down 0.3-0.4% and Nifty mid-cap indices fared worse, shedding nearly 1% each.
Hindustan Unilever, down 2.3%, was the worst hit stock in the Nifty 50. Peers Tata Consumer Products and ITC shed 2.1% and 1.3%, respectively. Bajaj Finance, Shriram Finance, Kotak Mahindra Bank, and Axis Bank shed 1.2–1.5% and were among the notable laggards.
Information technology stocks Tata Consultancy Services, Infosys, and Tech Mahindra rose 3.1–4.9% and were among the highest gainers in the Nifty 50. Their peers Persistant Systems, Coforge, and LTM were up 4.6–5.4% and were the highest gainers in the Nifty 200 index. Broad-based gains in technology stocks were driven by strong expectations of higher digital transformation and artificial intelligence-related investments, which boosted sentiment across the sector, according to Sundar Kevat, technical and derivatives analyst at Ashika Institutional Equity Research.
In the Nifty 200, Indian Renewable Energy Development Agency shed 5.4% and became the worst hit stock. Jaiprakash Power Ventures shed 12.5% and stayed at the bottom of the Nifty 500 index. (Shruti Nair)
Equity Alert: PTC Ind jumps 18% to 3-mo high after Q4 PAT more than doubles
MUMBAI--1318 IST--Shares of PTC Industries soared more than 18% intraday to touch their highest level in three months of INR 19,169 on Monday. The stock was the top gainer in the Nifty 500 index. At 1320 IST, over 230,000 shares of the company changed hands on the NSE. The stock currently trades at a steep price-to-earnings multiple of 239.02.
The stock rose after the company's consolidated net profit for the March quarter more than doubled on year to INR 599.1 million from INR 245.74 million. Sequentially, its profit rose threefold from INR 183.45 million. The company's total revenue for the reporting quarter also saw a healthy 85% on-year growth to INR 2.25 billion. For 2025-26 (Apr-Mar), the company's revenue rose almost 96% to INR 6.03 billion and its profit rose around 66% to INR 1.02 billion. At 1315 IST, shares of PTC Industries were more than 13% higher at INR 18,358. (Ruchira Kagita)
Equity Alert: InterGlobe rises to one-month high despite posting loss in Q4
MUMBAI--1230 IST--Shares of InterGlobe Aviation rose over 5% to an over one-month high of INR 4,633.90 despite the company reporting a net loss Friday for the March quarter. The volume of shares traded so far Monday also rose nearly threefold from those traded Friday till the same time.
InterGlobe Aviation posted net loss of INR 26.62 billion for the March quarter, against a net profit of INR 30.73 billion in the year-ago quarter. This was worse than the Street's estimate of a net loss of INR 19.86 billion. Its top line grew 1.3% on year to INR 224.38 billion, slightly lower than analysts' expectation of INR 225.69 billion.
Brokerage Emkay Global Financial Services has valued the stock at a price-to-earnings based target price of INR 5,200. "Although it would benefit from accumulated tax losses well up to FY28, we adjust APAT (adjusted profit after tax) to reflect normalized taxation," the brokerage said in its report. Adverse currency and fuel prices, economic slowdown, stake sale, and operational issues are the key risks for the company, according to the brokerage. It maintained its 'buy' call on the stock.
Anand Rathi Share and Stock Brokers expects the company to deliver a stronger performance in the second half of FY27, if the conditions of the industry improve. The brokerage sees this to happen despite near-term turbulence. "As one of India's leading low-cost carriers, the airline has historically been able to manage cost better than several competitors, helping it recover faster during upcycles," Anand Rathi said in its report. "IndiGo's relatively stronger balance sheet and liquidity position may also help it to navigate the weak quarters without major stress," it said.
Brokerage Nuvama Institutional Equities believe IndiGo is well-placed to convert near-term headwinds into lucrative long-term opportunities. The brokerage upgraded the stock to 'buy' from 'hold' and trimmed its target price to INR 5,054 from INR 4,842.
Elara Capital reiterated its 'buy' recommendation on the stock with an unchanged target price of INR 6,020. "In our view, the focus would gradually shift from crude to the durability of air fare strength," Elara said in its report.
In another development, the government Saturday cut the windfall gains tax on export of petrol, diesel, and aviation turbine fuel for the fortnight started Monday. The tax on aviation turbine fuel was cut by INR 6.50 per litre to INR 9.50 per litre.
At 1221 IST, shares of the company were over 2% higher at INR 4,500.90 on the NSE. So far in the day, nearly 980,000 shares of the company have changed hands on the exchange, higher than nearly 351,000 shares traded till the same time Friday.
Of the nine brokerage recommendations available with Informist, seven have a 'buy' recommendation with an average target price of INR 5,636. Of the remaining two, one has a 'sell' recommendation and the other has a 'hold' recommendation on the stock. (Arundathi A R)
Equity Alert: Indices turn flat; Nifty 50 below 23600; FMCG cos main drag
MUMBAI--1150 IST--Indices turned flat around noon with the Nifty 50 index slipping below the 23600 level. Amid reports of the US and Iran exchanging strikes, Brent crude oil August futures rose 2.5% to around $93 per barrel. While majority of the constituents in the Nifty 50 were in the red, stocks of fast-moving consumer goods companies were among the main laggards and information technology and select automobile companies were among notable gainers.
At 1147 IST, both the Nifty 50 and BSE Sensex turned flat at 23540.65 points and 74808.89 points, respectively. In the broader market, small-cap indices were mixed, while the Nifty mid-cap indices were down 0.7-0.9%.
Tech Mahindra was the top gaining stock in the Nifty 50 index, up 4.2%. Peers Infosys, Tata Consultancy Services, HCL Technologies, and Wipro were up 1.2–4.2%. Amid monthly data releases, select automobile companies were also among the gainers during early trade. Bajaj Auto was up nearly 1?ter the company reported a 20% on-year jump in its sales for May to 461,257 units. The company's commercial vehicle sales for the month grew 30% on year. Its peer, Eicher Motors, rose 0.3%.
FMCG companies Hindustan Unilever, Nestle India, and Tata Consumer Products were among the notable laggards, down around 1.1-1.8%. Hindustan Unilever was the worst hit Nifty 50 stock. Max Healthcare Institute was also among the worst-hit stocks in the index, down 1.7%. The stock hit its one-month low at INR 947 per share during the session.
In the Nifty 200, Persistant Systems was the highest gainer, up 5.4%. Conversely, GE Vernova T&D India shed over 5% and was the worst-hit stock in the index. In the Nifty 500, PTC Industries rose 14% and was the highest gainer after the company's March quarter consolidated bottom line more than doubled on year to INR 599.11 million. Shares of Jaiprakash Power Ventures shed nearly 13% and was the worst-hit stock in the index. (Shruti Nair)
Equity Alert: Asian Paints up; brokerages up estimates on price hike gains
MUMBAI--1125 IST--Asian Paints was among the top gainers in the Nifty 50 index. Shares of the company rose 4% to an intraday high of INR 2,778.80 after brokerages released positive commentary on the company. Asian Paints reported a robust volume growth of 12% on year for the March quarter and the company said it plans to offset the impact of high cost inflation through price hikes while ensuring volumes are not affected. Brokerages are bullish on the company seeing strong sales growth going forward.
The company stocked up a bit more ahead of anticipated price hikes and this led to a 3-4% higher volumes, Nomura noted in its report. Nomura had estimated the company's on-year volume growth for the March quarter at 10%. The brokerage upped its earnings per share estimates for the company by 8% for 2026-27 (Apr-Mar) and FY28 as it expects a better operating profit margin. The company's operating profit margin rose 215 basis points on year to 19.3%, the brokerage highlighted. "...we believe peak competition is behind us and disruption was far and few despite the large investments from new entrants," Nomura said. The brokerage maintained its 'buy' recommendation and hiked its target price by 11% to INR 3,600.
Amid macroeconomic headwinds, the company's sales growth is likely to remain strong on the back of price hikes but input cost inflation and competition may weigh on margin, Motilal Oswal Financial Services said in a report. Price hikes may dampen demand, the brokerage said in its report. The brokerage pencilled in the company's consolidated earnings before interest, taxes, depreciation, amortisation margin for FY27 at 18.2% and for FY28 at 18.6%. Motilal Oswal reiterated its 'neutral' rating with a target price of INR 2,750.
Nuvama Wealth Management expects the country's largest paint maker's value growth to be higher than its volume growth going forward. Asian Paints' decorative business in India posted a 10.2% value growth for the quarter ended March. The brokerage increased its earnings per share estimates for the company by 1–2% for FY27 and FY28. Further, it believes that the company's industrial coatings business is likely to outperform its decorative paints division. Nuvama maintained its 'buy' call on the stock and increased its target price to INR 3,470 from INR 3,390.
The paint maker projecting its EBITDA margin to be 18–20% in FY27 was a positive surprise, JM Financial Institutional Securities said in its research report, given the likelihood of margin pressure in inflationary conditions. Demand trends for the company were stable in April and May, the broking firm said, while adding that revenue construct for FY27 is seen to be promising even as competition remains high. JM Financial upgraded the stock to 'add' from 'reduce' and hiked its target price by almost 23% to INR 2,815.
The company's consolidated net profit for the quarter jumped 69% on year to INR 11.72 billion. The net profit was around 12% higher than analysts' estimate of INR 10.46 billion. The company's top line rose almost 11% on year to INR 92.47 billion. This was the paint maker's best-ever on-year sales growth in the past 12 quarters. The Street had pegged the company's total revenue from operations at INR 87.89 billion. At 1125 IST, shares of Asian Paints were up by over 1% at INR 2,702.60 on the NSE. (Ruchira Kagita)
Equity Alert: Indices open higher amid expectations of US-Iran peace pact
MUMBAI--0946 IST--Benchmark indices opened higher Monday as expectations of a peace pact between the US and Iran sparked optimism in the market. US President Donald Trump said he may lift the blockade of the Strait of Hormuz and that he will meet with top aides to make a final decision. Brent crude oil July futures were around $93 per barrel. Information technology companies were the major gainers in the indices.
At 0945 IST, the Nifty 50 was at 23581.50, up 33.75 points or 0.1%, and the BSE Sensex was at 74914.96, up 139.22 points or 0.2%.
InterGlobe Aviation was the top gainer among the Nifty 50 constituents, up nearly 4%. The airline's management said it recovered the extra costs from domestic fuel hikes by increasing ticket prices. Infosys, Tech Mahindra, Tata Consultancy Services, and HCL Technologies rose 1-3%. On the other hand, Mahindra & Mahindra was the worst-hit among the Nifty 50 constituents, down nearly 2%. Hindustan Unilever, NTPC, Sun Pharmaceutical Industries, and Power Grid Corp. of India fell around 1?ch.
The broader market indices were mixed. The Nifty midcap indices were down 0.3?ch, while the Nifty smallcap indices were up 0.1-0.3%. Nifty IT was the top gainer among the sectoral indices, up nearly 3%. Nifty FMCG was the biggest laggard among the sectoral indices, down 0.8%.
Persistent Systems rose nearly 4% to be the top gainer in the Nifty 200. Suzlon Energy was the worst hit stock on the index, down nearly 4%. Glenmark Pharmaceuticals fell nearly 4% as well. In the Nifty 500, NMDC Steel was the top gainer, up over 14%. The company posted a net profit for the quarter against a loss reported in the year ago quarter. (Adhithya Aji)
Equity Alert: Seen opening higher; crude oil prices at $93/bbl
MUMBAI--0825 IST--Benchmark indices may open higher Monday after closing lower for the previous three sessions. Crude oil prices eased to $93 a barrel even as the US-Iran ceasefire deal remained elusive. The movement of the GIFT Nifty June futures contract also suggested a higher opening for the equity market. The approval of US President Donald Trump for a proposed 60-day ceasefire deal is, however, still pending. Asian markets showed a mixed performance in early trade.
According to various media reports, Trump said 'most of the agreement' with Tehran was about nuclear issues. Trump also hinted that he was in no hurry to make a deal. In an interview with Fox News, Trump said he was pressing for a deal that would ensure Iran never acquires a nuclear weapon, CNBC reported.
At 0824 IST, the Brent crude oil August futures contract was 2% higher at $93.01 a barrel. Crude oil price rose from the previous close after three straight sessions of decline.
At 0755 IST, the June futures contract of GIFT Nifty was 0.2% higher at 23736 points. This was nearly 190 points higher than the Nifty 50's Friday's close of 23547.75. "Technically, this level (23500) remains the immediate support for the index," said Sundar Kewat, technical and derivatives analyst at Ashika Institutional Equity Research. "A decisive break below 23500 could trigger further weakness and lead to a decline towards 23300, which is the next short-term support level. The major support for the index is placed near 23000. On the upside, immediate resistance is seen at 23800, followed by a stronger resistance near 24000.
In the latest development, the government Saturday cut the windfall gains tax on the export of petrol, diesel, and aviation turbine fuel for the fortnight starting Monday. The special additional excise duty, or windfall gains tax, on the export of petrol was reduced by INR 1.50 per litre to INR 3.00 and the tax on diesel exports was cut by INR 3.00 per litre to INR 13.50, according to a notification from the finance ministry. The tax on aviation turbine fuel was cut by INR 6.50 per litre to INR 9.50 per litre. There is no change in the existing excise duty rates on petrol and diesel for domestic consumption, the ministry said.
In Asian markets, South Korea's Kospi was the top gainer, up over 4%. All three major US indices closed higher on Friday. (Arundathi A R)
Equity Alert: South Korea's Kospi, Japan's Nikkei 225 hit record highs Mon
MUMBAI--0807 IST--Asian equities gained Monday backed by a rise in South Korea's Kospi and Japan's Nikkei 225 indices on demand for semiconductors and artificial intelligence-related shares. Both indices hit record highs early Monday, gaining over 4% and 1%, respectively.
The growth in South Korea's exports accelerated in May, driven by robust semiconductor shipments fuelled by the global AI boom, despite continued uncertainty due to the war in West Asia, Dow Jones Newswires reported. South Korean chipmakers such as Samsung Electronics and SK Hynix continued to benefit from strong chip demand as global technology companies build out AI infrastructure, it said.
The country's exports surged by over 53% year-on-year to $87.75 billion in May, following a 48% gain in April, according to preliminary data released by the trade ministry on Monday. The latest reading surpassed the median of 50.8% in a Wall Street Journal survey, the report said.
China's CSI 300, Hong Kong's Hang Seng index, and the FTSE Singapore Straits Times were up less than 1?ch. Australia's S&P/ASX 200 index was down 0.1% and was among the only two indices to be in negative territory. Investors now await the release of the March quarter GDP data Wednesday before placing big bets.
The Following were the levels of major Asian indices at 0804 IST:
| Index | Level | Change in % |
| CSI 300 Index | 4913.1409 | 0.43 |
| Hang Seng Index | 25358.72 | 0.70 |
| Nikkei 225 Day | 67071.10 | 1.12 |
| TOPIX FIRST SECTION | 3948.22 | (-)0.23 |
| KOSPI | 8849.30 | 4.40 |
| FTSE Singapore Strait Times | 5037.86 | 0.98 |
| S&P/ASX 200 Index | 8719.20 | (-)0.14 |
(Simran Rede)
Equity Alert: US mkt ends up Fri; S&P 500's rising streak longest since 2023
MUMBAI--0746 IST--Benchmark indices in the US ended the month of May on a positive note Friday as an ease in the crude oil prices and hopes of progress toward a peaceful resolution to the West Asia war provided the support. Information technology stocks lifted all the three major US indices to end with modest gains. On other hand, benchmark US treasury yields dipped for a fourth straight session Friday.
The S&P 500 index ended higher for the seventh consecutive session, marking its longest winning streak since December 2023. Despite the gains, the three indices came off intraday highs by the closing bell. The tech-heavy Nasdaq Composite index closed 0.2% higher, gaining more than 8% over the month. The Dow Jones Industrial Average rose 0.7% but gained just 3% in May.
The US and Iran agreed to extend their ceasefire and lift shipping restrictions as peace negotiations proceed, Reuters reported, citing sources. However, US President Donald Trump is yet to approve the deal which, according to Iranian state media, has not yet been finalised, the report said.
Trump said he would meet in the situation room "to make a final determination" and reiterated that Iran "must agree that they will never have a Nuclear Weapon," CNBC reported. He also called for the Strait of Hormuz to be "immediately open," the report said.
US Federal Reserve officials are now mulling the possibility of hiking interest rates to counter that growing risk of rising inflation. "The three-month-long conflict has put upward price pressure on inflation, which threatens to grow less transitory and more established the longer the war drags on," Reuters said.
Following were the closing levels of major US indices on Friday:
|
US Indices |
Levels |
Change in % |
|
Dow Jones Industrial Average |
51032.46 | 0.72 |
|
NASDAQ Composite |
26972.62 | 0.20 |
|
S&P 500 |
7580.06 | 0.22 |
(Simran Rede)
US$1 = INR 94.98
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Akul Nishant Akhoury
All prices from National Stock Exchange, unless otherwise specified.
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