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U.S. stocks fell Tuesday as technology shares reversed earlier gains amid renewed selling pressure. President Trump's vow to respond to Iran shooting down a U.S. helicopter added to Middle East war concerns. Investors also eyed upcoming inflation data and the highly anticipated SpaceX IPO.
SpaceX's initial public offering is seeing massive investor interest. Demand has reached over 250 billion dollars, far exceeding the 75 billion dollars the company aims to raise. This indicates strong investor confidence. SpaceX is currently in the marketing phase for its IPO. The company is highlighting its rocket launch business and Starlink internet service.
Oil prices fell around 5 percent to below $90 a barrel on Tuesday after US President Donald Trump again said an Iran peace deal could be close. The international benchmark Brent crude fell below $90 for the first time since April 14, while its US counterpart, West Texas Intermediate crude fell to around $86 a barrel.
Indian equities ended higher on Tuesday, supported by easing geopolitical tensions and softer crude prices. A sharp drop in India VIX boosted sentiment, while broader markets outperformed. Analysts see potential for further recovery, though caution persists amid FII outflows, global uncertainties and weak near-term earnings outlook.
Private equity firm BC Investments IV sold a Rs 612 crore stake in Emcure Pharmaceuticals to Kotak Mahindra Mutual Fund at Rs 1,700 per share. Despite this divestment, analysts remain positive on Emcure's growth outlook across its core therapeutic segments.
Domestic markets are showing signs of recovery after recent declines, aided by easing geopolitical tensions and softer crude prices. However, volatility persists due to FII outflows and global uncertainties. Analysts recommend CCL Products and CMPDI, citing strong technical setups, positive momentum and bullish chart patterns.
Pride Hotels Limited is thrilled to announce the addition of a new 141-key hotel in the vibrant city of Indore, Madhya Pradesh. This exciting launch marks the fifth Plaza Hotel under the group's umbrella, reinforcing their dedication to providing top-notch hospitality.
Studds Accessories shares soared 18.3% to a 13-week high after reports of a sharp rise in helmet demand in West Bengal following stricter traffic-rule enforcement. The company reported strong sales growth, expects organised players to gain market share, and is expanding capacity to meet rising demand.