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GIFT Nifty

The GIFT Nifty, an early indicator for the benchmark Nifty 50, is down 0.11% at 23,466 as of 6:48 a.m.

India Market Recap

Indian equity benchmarks snapped a four-day losing streak on Tuesday, supported primarily by gains in information technology stocks. The NSE Nifty 50 rose 0.43% to close at 23,483.55, while the BSE Sensex advanced 0.52% to settle at 74,649.84. Infosys and TCS were the top contributors to the Nifty’s gains, adding 53.59 points and 35.57 points, respectively. However, weakness in financial and energy heavyweights such as ICICI Bank, Axis Bank, NTPC and Reliance Industries capped the upside. On the technical front, Nifty support is placed in the 23,200–23,300 range, while resistance is seen between 23,650–23,750.

US Market Recap

Wall Street indices retreated from record highs on Tuesday as investors turned cautious while awaiting further clarity on negotiations surrounding the US-Iran conflict. The S&P 500 opened 0.18% lower at 7,586.44, snapping its eight-session winning streak. The Dow Jones Industrial Average declined over 200 points, or 0.44%, at the open, while the Nasdaq Composite slipped 0.27% as momentum in AI-linked stocks moderated. Despite the weakness, the Dow briefly touched a fresh record high during the session after gaining more than 100 points earlier in trade.

Asian Market Update

Asian markets traded higher on Wednesday, led by Japan, despite persistent concerns around escalating tensions between the US and Iran and their potential impact on global energy supplies. Japan’s Nikkei 225 rose 0.91% to hit a record high, while the broader Topix index gained 0.93%. Australia’s S&P/ASX 200 advanced 0.32%. Hong Kong’s Hang Seng futures indicated a weaker opening, while South Korean markets remained closed due to a public holiday.

Commodity Check

Crude oil prices extended gains for a third consecutive session as hopes for a near-term peace agreement between the US and Iran weakened amid renewed fighting in the Middle East. Brent crude climbed toward $97 per barrel, while WTI traded near $95 after both benchmarks had already gained more than 7% during the first two sessions of the week. The rally in oil prices reflects growing concerns over potential disruptions to crude exports through the Strait of Hormuz, a critical route for global energy supplies.

Stocks In News

• Infosys: The company expands its partnership with DNB Bank ASA to strengthen financial‑crime operations.
• Power Finance Corporation (PFC): The Registrar of Companies strikes off subsidiary PFC Projects, citing lack of future business opportunities. Strike off and Dissolution of Three wholly owned subsidiaries (Deoghar Infra, Deoghar Mega Power, Jharkhand Infra) of Power Finance Corporation Limited.
• Dhanuka Agritech: The company's Rs. 70 crore buyback will open on June 4 and close on June 10.
• Indian Overseas Bank: The company receives approval from IFSCA to set up a banking unit in GIFT City.
• Concord Biotech: The company receives US FDA approval for Mycophenolate Mofetil ANDA, used in organ‑rejection prophylaxis, with an estimated US market size of USD 30 million.
• Patanjali Foods: The company receives a tax demand of Rs. 73 crore for FY23, related to alleged ineligible input tax credit.
• Delhivery: The company will incorporate a new subsidiary, Delhivery Fintech Distribution.
• Mufin Green Finance: The company will issue NCDs worth Rs. 119 crore via private placement.
• John Cockerill India: The company receives an order of around Rs. 1,300 crore from JSW Vijayanagar Metallics for commissioning two annealing and coating lines.
• Canara Bank: The company approves a capital‑raising plan of up to Rs. 8,500 crore via bonds in FY27.
• Mankind Pharma: The company's arm acquires the remaining 10% stake in Upakarma, taking full ownership.
• NHPC (OFS Update): The government exercises the oversubscription option, increasing total offer size to 6% stake, or 60.3 crore shares.
• Advait Energy Transitions: The company's arm signs an agreement with GUVNL for a 150 MW BESS project.
• Aequs: The Karnataka government sanctions incentives under the ESDM scheme for setting up a manufacturing unit in Dharwad.
• Elpro International: The company acquires 92,000 shares in Jana Small Finance Bank.
• Hexaware Technologies: The company plans to enhance its ‘Agentverse' AI platform by adding governance, development, and lifecycle management capabilities.
• United Foodbrands: NCLT approves the merger scheme of Blue Planet Foods and Red Apple Kitchen.
• Vedanta: The company clarifies that Enforcement Directorate officials visited certain offices of Vedanta and Hindustan Zinc. The company is extending full cooperation and proceedings are underway.
• Onix Solar Energy: The company approves allotment of 1.2 crore shares aggregating Rs. 60.2 crore.
• Wipro: The company completes acquisition of an additional 20% stake in Aggne Global Inc.
• Kalpataru: The company withdraws the proposed Project Magnus demerger. The board states that the envisaged benefits are no longer relevant and there will be no financial impact.
• Bliss GVS Pharma: The company receives WHO closure report for its Palghar unit, confirming compliance with GMP standards.
• Epack Prefab Technologies: The company secures an order worth Rs. 165 crore for supply of cells and modules.
• Restaurant Brands Asia: The company will allot shares worth Rs. 900 crore and warrants worth Rs. 600 crore to Lenexis Foodworks.
• InterGlobe Aviation: The company will discontinue flights to and from Manchester effective August 31, citing a challenging cost and operational environment. It also plans to return one of its six Boeing 787‑9 Dreamliners to Norse Atlantic.
• B.R. Goyal Infrastructure: The company secures an order worth Rs. 118 crore.