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Some Indian penny stocks have delivered exceptional returns. At least 18 companies, once trading below Rs 20, have grown to market capitalizations between Rs 3,000 crore and Rs 12,000 crore. This transformation occurred over the last five years. Sectoral tailwinds and improved business fundamentals fueled this growth.
Indian stock markets surged on Thursday, with Sensex and Nifty extending gains for a second day. This rise was fueled by optimism over a potential de-escalation of US-Iran conflict, leading to a broad-based rally across midcap and smallcap indices. PSU Bank stocks led the sectoral gains.
Federal Reserve officials are increasingly concerned that the U.S.-backed war with Iran is fueling a prolonged inflation shock. Elevated oil prices and supply chain disruptions are now seen as persistent threats, potentially leading to further interest rate hikes and extended periods of high inflation.
Paytm's parent company, One 97 Communications, reported a profit of Rs 184 crore for the fourth quarter. This led to a significant rally in its shares. Revenue from operations also saw an increase. Analysts maintain positive ratings, citing strong revenue momentum and controlled expenses. The company's financial performance shows improvement compared to the previous year.
The Tamil Nadu Assembly election results on 4 May delivered a major upset with the Tamilaga Vettri Kazhagam (TVK) emerging as the single largest party and Vijay being the giant slayer who dismantled the decades-long Dravidian duopoly in the south-Indian state.
Gold and silver prices rose on MCX on Thursday, aided by a weaker dollar and optimism over a potential US-Iran peace deal. Iran said it is reviewing a US proposal to end the conflict, though key issues around its nuclear programme and the Strait of Hormuz remain unresolved.
Japan's financial markets surged on Thursday, with the Nikkei 225 reaching a record high, driven by global optimism from strong tech earnings and easing Middle East tensions. Technology shares, particularly AI-linked stocks, led the rally, while government bonds also strengthened. The yen remained stable after earlier gains.
PM Narendra Modi, External Affairs Minister S Jaishankar and Defence Minister Rajnath Singh marked the first anniversary of Operation Sindoor with tributes to the armed forces.
The US Treasury will maintain stable auction sizes for notes and bonds for at least the next several quarters, opting for a cautious borrowing approach amid market volatility. This decision, part of the quarterly refunding plan, aims to avoid further pressure on the bond market.
PB Fintech reported a 54% year-on-year rise in March-quarter net profit to Rs 261 crore, driven by strong insurance premium growth and improved margins. Revenue climbed 36%, while lending disbursals and renewal income also increased. The company’s agent network expanded significantly, supporting continued momentum across insurance and credit distribution businesses.
Six stocks in the NSE F&O segment recorded a sharp rise in futures open interest on May 6, signalling increased trader participation and fresh positioning. Larsen & Toubro, HDFC Life Insurance, Amber Enterprises, Nippon Life India Asset Management, Coforge and Godfrey Phillips India saw open interest rise over 10%.
TMC demands a CBI investigation into the targeted assassination of BJP leader Suvendu Adhikari's associate, Chandranath Rath, emphasizing accountability for violence in democracy.
Oil prices rebounded on Thursday, recovering from a significant prior fall as investors assessed mixed signals regarding Iran-U.S. relations. While reports suggested a potential agreement to end the conflict, President Trump issued a stark warning of intensified bombing if Iran rejects a peace deal, highlighting the precarious state of negotiations.
Chandranath Rath, 41, hailed from Chandipur in Purba Medinipur district, the political turf that shaped Adhikari's rise in Bengal politics, party sources were quoted as saying by news agency PTI.
The India Meteorological Department (IMD) has issued warnings for heavy rain, thunderstorms, lightning and gusty winds across several parts of the country over the next few days.
Investors can check their OnEMI Technology IPO allotment status today. The fintech company's public issue closed on May 5. Shares are set to list on May 8. The IPO saw strong demand. The grey market indicates a positive listing. Allotment status is available via KFin Technologies or exchange websites. Successful applicants will see shares credited on May 7.
Gold prices held steady near a one-week high as investors awaited clarity on a potential U.S.-Iran peace deal. While stocks and oil dipped on hopes of an agreement, market participants are now focused on the upcoming U.S. employment report for clues on the Federal Reserve's next move. Fed officials expressed concerns about inflation risks stemming from the ongoing conflict.
Oil prices saw a rebound on Thursday after sharp losses. Investors are closely watching the Middle East peace deal. Even if an agreement is reached, oil supplies are expected to remain tight. This is due to the time needed for shipments to resume. U.S. crude and fuel inventories continue to decline. Peak summer demand is also a factor.
