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Reserve Bank of India is considering allowing state-run banks to issue foreign-currency bonds to attract capital inflows and support the rupee, reviving a strategy last used decades ago. The proposal, still in early stages, may involve bonds with around five-year maturities.
Bitcoin surged past $81,000, driven by strong institutional demand and short-covering, though experts caution it's not a clean breakout yet. While demand remains robust, significant profit-taking was observed, with Bitcoin holders realizing substantial gains. The cryptocurrency's move above $80,000 signals a shift towards risk-on momentum in the broader crypto market.
Chinese stocks surged to a four-year peak on Wednesday. Investors bought tech shares, driven by global artificial intelligence excitement. Domestic economic resilience also boosted sentiment. Services activity expanded faster in April. Huawei's AI chip revenue is expected to grow significantly. Energy stocks declined as Middle East tensions eased.
The U.S. will gradually close its Consulate General in Peshawar due to safety concerns, transferring responsibilities to the embassy in Islamabad while maintaining diplomatic engagement in Khyber Pakhtunkhwa despite recent unrest in Pakistan.
Larsen and Toubro shares fell after the company reported a 3% YoY decline in Q4 net profit to Rs 5,326 crore. Despite the profit dip, revenue rose 11% to Rs 82,762 crore, with international business contributing over half. EBITDA grew 5%, indicating stable operational performance driven by core engineering and services segments.
Gold and silver opened sharply higher on MCX on Wednesday as a weaker dollar and easing oil prices eased inflation concerns and rate worries. Sentiment also improved on optimism around a possible US-Iran peace deal. MCX silver rose 3.1% to Rs 2,52,000/kg, while gold gained 1.7% to Rs 1,52,182/10g. US President Donald Trump hinted at progress in talks, though Iran gave no immediate response.
Indian stock markets surged on Wednesday, with Sensex and Nifty gaining significantly in early trading. This positive sentiment was driven by growing hopes for a swift resolution to the Iran-US conflict, coupled with a decline in crude oil prices. Investor confidence was further bolstered by a drop in market volatility.
Samsung Electronics' market value soared past $1 trillion, becoming the second Asian firm to achieve this feat after TSMC. The South Korean chip giant's shares surged significantly, driven by overnight gains in US AI-related stocks. This milestone reflects strong investor confidence, mirroring the positive performance of tech giants on Wall Street.
South Korea's Kospi index surged to a new record, propelled by a significant jump in Samsung Electronics' stock due to artificial intelligence growth expectations. Major chipmaker SK Hynix also saw substantial gains. Meanwhile, Wall Street markets reached all-time highs as oil prices eased and corporate profits exceeded forecasts.
Vodafone Idea shares rose as Kumar Mangalam Birla returned as non-executive chairman, succeeding Ravinder Takkar. This move comes as the company navigates significant financial challenges, including government equity stakes and revised AGR dues. The company has seen its AGR dues reduced and a moratorium on payments, providing some financial relief.
Mahindra & Mahindra's Q4 FY26 results met top-line expectations with strong volume growth. However, rising aluminium and steel prices pose a near-term risk to margins, with the full impact expected in Q1 FY27. Investors will be watching EV plans, farm equipment outlook amid El Niño, and raw material inflation management.
Five F&O stocks, including Vedanta, Hyundai Motor India and Godrej Properties, saw a sharp rise in futures open interest as of May 05, signalling fresh positioning and increased trading activity. Overall open interest rose over 10%, reflecting heightened participation in derivatives amid active market momentum across select counters.
Reliance Industries is evaluating a multi-billion-dollar entry into satellite communications, focusing on low Earth orbit networks under Jio Platforms. The initiative aims to strengthen India’s strategic capabilities amid rising global competition, with discussions underway on technology partnerships, orbital slots and potential acquisitions as the company explores long-term opportunities in future.
Meesho shares remain in focus ahead of Q4 results after a sharp 60% rebound from March lows. While brokerages expect strong NMV growth, concerns around valuations and overbought technical indicators persist. Analysts see near-term volatility, with profitability still a few years away despite improving operational metrics and strong user growth.
Shoppers Stop reported a consolidated loss of Rs 16.35 crore in Q4 FY26 against a profit last year, despite a 13.7% rise in revenue. Margins weakened amid higher expenses, though premiumisation, strong beauty sales and improved cash flows supported performance. The company remains on track to turn debt-free by FY27.
Five stocks from the Nifty500 universe were flagged in the RSI Trending Up scan on May 5 after gaining over 4%. The indicator turned positive as RSI crossed above 50 from lower levels, signalling improving momentum, strengthening sentiment, and potential short-term buying opportunities in select stocks.
A suspected explosion outside a cantonment zone in Amritsar and a separate scooter fire near Jalandhar's BSF headquarters have triggered a political storm in Punjab, with opposition parties questioning the state government's grip on law and order.
