Overnight in the US major indices traded range bound, as investors awaited Wednesday’s consumer price index report to assess the Federal Reserve’s rate cut trajectory. The Dow Jones Industrial Average slipped by 0.03 per cent, the S&P 500 dipped by 0.04 per cent, and the Nasdaq Composite edged up by 0.03 per cent.
On Tuesday, Asian investors will be monitoring business confidence surveys from Australia along with consumer confidence data from Japan.
In Asia, this morning markets rose higher, with Japan’s Nikkei 225 gaining 0.52 per cent in early trade, while the broad-based Topix rose by 0.35 per cent.
In Australia, the S&P/ASX 200 began the day with a modest increase of 0.36 per cent. While Hong Kong’s Hang Seng index was quoting 1.59 per cent higher in early trade.
South Korea’s Kospi shot up by 0.76 per cent, while the small-cap Kosdaq soared 0.22 per cent.
On Tuesday morning, the Brent crude prices recovered slightly and were quoting 0.42 per cent higher at 90.74 per barrel.
Stocks that may see action today:
Tata Motors: JLR reported wholesales of 400,000 units, up 25 per cent YoY for FY24, with retail sales up 22 per cent at 430,000 units.
Axis Bank: Bain Capital is seeking to divest its entire stake in Axis Bank through a block deal.
Yes Bank: The company received Rs 244 crore from a single trust in the Security Receipts Portfolio after selling the NPA Portfolio to JC Flower ARC in December 2022.
Gland Pharma: Shareholders Nicomac Machinery and RP Advisory Services intend to sell up to a 4.9 per cent stake in the company at a floor price of Rs 1,725 per share, representing a 7.34 per cent discount from the current market price.
