US stock news

Sensex and Nifty tanked after Finance Minister Nirmala Sitharaman announced a hike in STT (Securities Transaction Tax) on F&O (Futures and Options) securities. The 30-share BSE Sensex jumped as soon as Nirmala Sitharaman began presenting the Budget for 2024-25. But, within minutes, it slipped in the red and later dropped 1,266.17 points to 79,235.91 during the afternoon trade. The NSE Nifty also ticked higher as the Finance Minister began the presentation. However, volatile trends soon came in and the benchmark later tanked 435.05 points to 24,074.20. The BSE benchmark had climbed 264.33 points to 80,766.41 in early trade. The Nifty had gone up 73.3 points to 24,582.55. Nirmala Sitharaman on Tuesday said the government plans to raise the capital gains exemption limit on certain financial assets to Rs 1.25 lakh per year for the middle and upper middle class. Presenting the Budget for 2024-25, she announced a hike in STT (Securities Transaction Tax) on F&O (futures and options) securities by 0.02 per cent and 0.1 per cent. This is the first Budget during Prime Minister Narendra Modi-led government's third term…

The change of leadership in the US Democratic Party has disrupted the Republican Party\’s position. Polls show that Harris will perform better than Biden in the duel with Trump. This makes the outcome of the election unpredictable and brings uncertainty to the economic policy outlook.

Domestic markets are expected to remain volatile during the election season, said analysts. TCS will be the first major company to unveil quarterly results on Thursday. Gift Nifty at 24,400 signals a marginal gain for Nifty futures at open. On Wednesday, Nifty futures closed at 24,355. Besides, the focus has now shifted to the upcoming Budget, scheduled on July 23.

Equity benchmark indices rebounded in early trade on Thursday amid a rally in global markets and continuous foreign fund inflows.

Citi strategists raised their year-end target for the S&P 500 to 5,600 from the previous 5,100, becoming the third Wall Street firm since Friday to raise their forecasts for the benchmark index, following Goldman Sachs and Evercore ISI.

Tata Elxsi has collaborated with Red Hat, a provider of enterprise open-source solutions, to monetise applications and reduce operational expenditures on operations in 5G networks for telcos and enterprises.

Shares of Ambuja Cements hit a new high on Friday’s trade following the acquisition of Penna Cement.

Benchmark indices traded flat after opening lower on Friday. BSE Sensex traded at 76,895.37, up by 84.47 points or 0.11 per cent as of 12.40 pm, and Nifty 50 traded at 23,435.55, up by 36.65 points or 0.16 per cent.

Thanks to the booming equity markets and growing investment culture, the assets under management of SBI Mutual Fund are growing faster than the domestic fixed deposits of its parent, State Bank of India.

Consolidation in the cement industry continues, with Adani-owned Ambuja Cements announcing a 100 per cent acquisition of Hyderabad-based Penna Cements Industries Limited (PCIL) for an Enterprise value of ₹10,422 crore. With an operational and to be commercialised capacity of 14 million tonnes per annum (mtpa), the PCIL deal is valued at $89 per tonne, which is marginally below the replacement cost of $90-100 per tonne for similar capacities. Ambuja can increase its Southern market share with the deal, which can be value-accretive if the expansion pans out.