Stock Market Today: The benchmark indices Sensex and Nifty may open higher on Wednesday, boosted by a drop in US CPI, which has strengthened expectations of a rate pause by the Fed later tonight. The SGX Nifty futures were 50 points higher at 18,833, barely shy of the Nifty’s all-time high of 18,888.
Stock Market Today: Stocks to watch
Adani Group is in talks to restructure a $3.8 billion credit. The CV industry will grow by 8-10%; The TRAI requires AI/ML filters to block spam calls and communications. IndiGo has been granted authorization to operate flights to Nairobi. Maruti Suzuki will launch a new MPV in the 20 lakh pricing range; JSW Steel claims a 7% increase in crude steel production year on year. Brightcom Group and its promoters are fined by Sebi for violating regulations. Anupam Rasayan signs a $265 million letter of intent with a Japanese corporation. Skytek places a fresh order with Ramco Systems. Assam would receive 492 MW of energy from NLC India.
US Market updates
The US Federal Reserve began a two-day meeting to determine its benchmark lending rate on June 13, with new signals of lowering inflation raising the likelihood that it will suspend its relentless pace of rate hikes. On Tuesday, US markets rose following a small increase in inflation in May.
Meanwhile, in the local market, FIIs bought approximately Rs. 1,678 crore in Indian shares after the prospect of a rate hike was reduced further by CPI inflation approaching the central bank’s lower target range on Tuesday. DIIs, on the other hand, became net sellers, with an outflow of more than Rs. 203 crore.
Maharashtra, Gujarat, TN top in goods shipments
According to GSTN data on e-way bills, Maharashtra, Gujarat, and Tamil Nadu dominate in terms of the value of products shipped within their respective states and those exchanged with the rest of the country, reflecting their economic prowess.
Karnataka, Haryana, and Uttar Pradesh, on the other hand, have emerged as strong competitors for the top three states. GSTN is the business in charge of processing tax returns for the goods and services tax (GST), a consumption tax.
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