ECONOMY

Share Market Live: Sensex, Nifty Open Higher Led By Banks; L&T Tech Down 7%

Good Morning!

Asian stocks were mixed and U.S. equity futures retreated Tuesday in the wake of a dip in technology giants on Wall Street.

South Korean shares edged down while Hong Kong fluctuated and Australia rose modestly. Trading will be limited with Japan and China among markets closed for holidays.

India’s SGX Nifty 50 Index futures for May delivery fell 0.3% to 14,645.50, while MSCI Asia Pacific Index -0.1%. The NSE Nifty 50 Index little changed Monday at 14,634.15.

Ten-year Treasury yields dropped back to around 1.6% amid comments from Federal Reserve Chair Jerome Powell that the economic recovery is patchy.

A gauge of commodity prices is at the highest level since 2012. Silver is among the precious metals that have rallied as the prospect of near-zero rates for longer boosts demand. Oil was steady after climbing over 1%. Digital token Ether extended its surge to set another record.

Back home, L&T Technology, Tata Chemicals may react as the companies reported quarterly results after the market closed Monday. Adani Ports, RBL Bank, L&T Infotech, Alembic Pharma, Adani Total are among the companies scheduled to report earnings Tuesday. Foreign investors sold net Rs 3150 crore of stocks on April 30, according to the NSDL website.

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