By Latest News

Stock Market LIVE on Wednesday, June 12, 2024: Indian bourses may see a flat to negative start on Wednesday tracking mixed trends among global peers. The GIFT Nifty futures also indicated a subdued start, as they quoted 2 points higher than Nifty50 futures at 23,311 levels.

Asia-Pacific markets displayed a mixed performance on Wednesday, as investors awaited inflation data from India and assesed the inflation print of China. China’s inflation increased by 0.3 per cent in May against an expectaion of 0.4 per cent. Investors are also eyeing the upcoming decision by the US Federal Reserve, scheduled for Wednesday. 

India’s inflation rate is expected to experience a marginal increase to 4.89 per cent, according to a Reuters poll of economists. This projection is slightly higher than April’s 4.83 per cent uptick.

In the Asian market, Japan’s Nikkei 225 dropped by 0.79 per cent higher, while the broader Topix index slipped by 0.63 per cent.

South Korea’s Kospi was up 0.35 per cent, while the small-cap Kosdaq index surged by 0.37 per cent.

However, Australia’s S&P/ASX 200 experienced a decline of 0.72 per cent. Meanwhile, Hong Kong’s Hang Seng index futures were down 0.78 per cent. 

Overnight on Wall Street, the S&P 500 index and the Nasdaq Composite rose to fresh closing highs, gaining 0.27 per cent and 0.88 per cent, respectively. On the other hand, the Dow Jones Industrial Average shedded 0.31 per cent.

Stocks to watch:

HCL Tech: Inking a deal worth $278 million, HCL Technologies has partnered with apoBank, Germany’s largest cooperative primary bank, for a duration of 7.5 years.

Cipla: Facing a setback, Cipla received an adverse ruling from the Patna Tax Office regarding input tax credit. The company intends to appeal to a higher authority against this ruling.

TCS: Recently, TCS unveiled a new IoT engineering lab in Ohio, catering to manufacturing, energy, and consumer solutions.

Source: Latest News