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10-Year Bond Yield Flat Yield on the 10-year bond opened flat at 7% on Thursday.Source: Bloomberg Indian Rupee Strengthens Against The U.S. Dollar The local currency appreciated by 25 paise to open at Rs 82.48 against the U.S. dollar on Thursday. The rupee closed at 82.73 on Wednesday.Source: Exchange filingIndian Oil Cuts Aviation Turbine Fuel Prices Domestic jet fuel prices slashed by Rs 6,632.25 from May 1, 2023 to Rs 89,303.09 per kl in Delhi as of June 1, 2023.Source: Indian Oil websiteAll Eyes On Auto Stocks Ahead Of May Sale Numbers: Trade SetupU.S. House Of Representatives Passes Debt-Limit Deal To Avert DefaultDebt limit deal wins passage in Republican-controlled house by 314-117 votes.The deal now goes to Senate.Source: U.S. Congress websiteGlobal CuesU.S. Dollar Index at 104.2U.S. 10-year bond yield at 3.65%Brent crude down 1.20% at $72.66 per barrel Nymex crude up 0.06% at $68.13 per barrel SGX Nifty down 0.28% at 18,611 as of 07:35 a.m. Bitcoin down 0.13% at $27,081.20Stocks Fluctuate As Traders Refocus On Fed Rates: Markets WrapTrading Tweaks Ex-Date Interim Dividend: Shree Cement, Trident, AptechRecord-Date Interim Dividend: Shree Cement, Trident, AptechMove Into Short-Term ASM Framework: Centum ElectronicsMove Out of Short-Term ASM Framework: Gland Pharma, Kaynes Technology IndiaIndia's GDP Grows Faster Than Expected At 6.1% In Q4, 7.2% In FY23Pledge Share Details Jubilant FoodWorks: Promoter Jubilant Consumer revoked a pledge of 28.5 lakh shares on May 30.Fed’s Jefferson Signals A Rate Pause Is On The Way But More Hikes Could FollowBulk Deals Max Healthcare Institute: Government of Singapore bought 66.6 lakh shares (0.69%) at Rs 549.53 apiece, UBS Principal Capital Asia sold 74.44 lakh shares (0.78%) at Rs 548.03 apiece.Sona BLW Precision Forgings: Societe Generale bought 81.98 lakh shares (1.4%) at Rs 503 apiece, Government of Singapore bought 36.44 lakh shares (0.62%) at Rs 540.44 apiece, Aureus Investment sold 1.9 crore shares (3.23%) at Rs 503.73 apiece.Welspun Enterprises: Welspun Enterprises Employees Welfare Trust bought 10 lakh shares (0.72%) at Rs 151 apiece.Arman Financial Services: Stallion Asset bought 64.950 shares (0.76%) at Rs 1,.850.84 apiece.Goodluck India: Nandanvan Investments bought 1.57 lakh shares (0.57%) at Rs 467.45 apiece.Debt-Limit Bill Overcomes Key Hurdle With House Passage In SightBlock Deals HDFC Life Insurance Company: Abrdn (Mauritius Holdings) sold 3.57 crore shares (1.66%), Aditya Birla Sun Life Mutual Fund bought 25.75 lakh shares (0.12%), Amazon Market Neutral Fund bought 1.73 lakh shares (0.01%), Aptus Global Financials Fund bought 1.73 lakh shares (0.01%), BNP Paribas Arbitrage bought 13.99 lakh shares (0.07%), BofA Securities Europe SA bought 1.74 lakh shares (0.01%), FIAM Group Trust for Employee Benefit Plans bought 2.23 lakh shares (0.01%), Fidelity Investment Trust bought 11.44 lakh shares (0.05%), Ghisallo Master Fund LP bought 6.5 lakh shares (0.03%), ICICI Prudential Mutual Fund bought 25.75 lakh shares (0.12%), Morgan Stanley Asia Singapore Pte bought 6.5 lakh shares (0.03%), Nippon India Mutual Fund bought 11.5 lakh shares (0.05%), Norges Bank on account of Government Petroleum Fund bought 27.5 lakh shares (0.13%), SBI Mutual Fund bought 1.42 crore shares (0.66%), Societe Generale bought 33.25 lakh shares (0.15%), T Rowe Price Asia Opportunities Trust bought 18.5 lakh shares (0.09%), WF Asian Smaller Companies Fund bought 26 lakh shares (0.12%) at Rs 579.6 apiece.Ten Changes Transformed India In Less Than A Decade, Says Morgan StanleyStocks To Watch: Coal India, Tata Motors, M&M, Bank Of India, HDFC Life Insurance, Gati Coal India: The government will sell up to 18.48 crore shares of the company, representing a 3% stake, via an offer for sale on June 1 and 2. The floor price of the offer has been pegged at Rs 225 per share.MOIL: The company increased prices of manganese ore grades BGF452, CHF473 and GMF569 by 10%, effective from the June 1.Tata Motors: The company is looking to buy back external commercial bonds worth $250 million from bond holders.HFCL: The company will spend Rs 470 crore to expand current optical fibre capacity to 33.9 million fibre kilometer per annum from 10 million fibre kilometer per annum at its manufacturing facility in Telangana.Bank of India: The bank hiked marginal cost of funds-based lending rates by five basis points across tenures, effective June 1.Mahindra & Mahindra: Subsidiary Mahindra Holdings completed the sale of 30% stake of Mahindra Susten to 2452991 Ontario, a wholly owned subsidiary of Ontario Teachers' Pension Plan Board. Additional 9.99% stake of Mahindra Susten will be completed by March 31.Laurus Labs: The company will acquire additional 7.24% stake in Immunoadoptive Cell Therapy for Rs 80 crore. Some promoters and senior management of the company will also acquire 0.54% stake in ImmunoACT for Rs 4 crore through secondary purchases. The company already holds 26.62% stake in ImmunoACT.Vinati Organics: The company bought additional 65.97 lakh shares of subsidiary Veeral Organics for Rs 6.59 crore.Lemon Tree Hotels: The company will acquire 9.67 lakh compulsorily convertible preference shares of Fleur Hotels from APG Strategic Real Estate Pool NV at Rs 505 apiece, resulting in a total outgo of Rs 48.84 crore.Steel Authority of India: Amarendu Prakash has taken over as chairman of the company, effective May 31.Rainbow Children’s Hospital: The company appointed Vikas Maheshwari as the chief financial officer, effective June 1, following resignation of R Gowrisankar from the position.South Indian Bank: The board approved the panel of candidates for the position of managing director and chief executive officer. This will be sent to the Reserve Bank of India for approval. The bank also appointed General Manager Nandakumar G as the head of inspection and vigilance department and head of internal audit and chief of internal vigilance, effective June 1.Gati: Pirojshaw Aspi Sarkari has stepped down as the chief executive officer of Gati to take charge as managing director and CEO of material subsidiary Gati-Kintetsu Express, effective immediately. Shashi Kiran Shetty, chairman and managing director of Gati, has been appointed as non-executive chairman of Gati-Kintetsu Express.PNC Infratech: Bhupinder Kumar Sawhney has stepped down as chief financial officer of the company on health grounds, effective May 31.Adani To Raise $3.5 Billion From Share Sale In Three Group CompaniesSGX Nifty Signals A Tepid Start Stocks fluctuated in Asia on Thursday as the House passed the debt ceiling deal to avert default and investors weighed the prospect of a pause in rate hikes from the Federal Reserve this month.Japanese and Australian shares rose, those in South Korea edged lower and US equity futures managed a small gain after news of the deal passing the House. Benchmarks in China opened lower, reflecting ongoing concerns over growth. Manufacturing data for China due later is forecast to show a further contraction in activity.The picture for U.S. contracts followed declines on Wednesday and suggested that investors were taking more notice of Fed officials who backed the possibility of holding rates unchanged the next meeting.The S&P 500 closed 0.6% lower on Wednesday, narrowly clinging to a small gain for May to mark three consecutive monthly advances. The Nasdaq 100 index fell 0.7%, weighed down by a decline for Nvidia Corp. shares after a rapid rally that has tripled the stock price this year.Meanwhile, the yield on 10-year treasuries in U.S. was trading at 3.65%. Crude declined nearly 1% below $73-mark, while Bitcoin was above 27,000-level. At 07:35 a.m., the Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, down 0.28% at 18,611. Domestic benchmark indices ended lower as banks and financial stocks, including the HDFC twins, Axis Bank Ltd. and State Bank of India dragged. The Indian rupee closed flat against the U.S. dollar as domestic equities came under pressure and the greenback retained its strength.Foreign investors were net buyers for the eighth straight day and bought equities worth Rs 3,405.9 crore. On the other hand, domestic institutional investors were net sellers for two days in a row and offloaded Rs 2,528.5 crore worth of equities.Yields Slide On Fedspeak; Banks Weigh On Stocks: Markets Wrap. Read more on Markets by BloombergQuint.
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