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services and expansion of new export orders led to India’s private sector activity picking up in May, recording the third strongest increase since July 2010, according to the preliminary results of a private survey released Thursday. The HSBC Flash India Composite Output Index rose to 61.7 in May compared with 61.5 in the previous month. “The latest data showed strength in new export orders for both sectors, which rose at the fastest pace since the series started in September 2014,” said Pranjul Bhandari, chief India economist, HSBC.

Federal officials are transfering former FTX CEO Sam Bankman-Fried to a new prison in California.

stocks are under the Future & Options (F&O) trade ban on Thursday, viz. Aditya Birla Capital, Balrampur Chini Mills, Bandhan Bank, Biocon, Hindustan Copper, Vodafone Idea, IEX, Indian Cements, Metropolis Healthcare, National Aluminium, Piramal Enterprises, Punjab National Bank, and Zee Entertainment Enterprises. The F&O contracts of any stock enter the ban period when the open interest (OI) on it crosses 95% of the market-wide positions limits (MWPL). The ban on it is reversed only if the open interest falls below 80%.

Eris Lifesciences with a target price of Rs 1100. The current market price of Eris Lifesciences Ltd. is Rs 901.6. Eris Lifesciences Ltd., incorporated in the year 2007, is a Mid Cap company (having a market cap of Rs 12347.29 Crore) operating in Pharmaceuticals sector.

Sun Pharmaceutical Industries with a target price of Rs 1710. The current market price of Sun Pharmaceutical Industries is Rs 1540.3. Sun Pharmaceutical Industries Ltd., incorporated in the year 1993, is a Large Cap company (having a market cap of Rs 369329.63 Crore) operating in Pharmaceuticals sector.

IRB Infrastructure Developers with a target price of Rs 86. The current market price of IRB Infrastructure Developers Ltd. is Rs 73.37. IRB Infrastructure Developers Ltd., incorporated in the year 1998, is a Mid Cap company (having a market cap of Rs 44326.26 Crore) operating in Infrastructure sector.

Sudarshan Chemical Industries with a target price of Rs 973. The current market price of Sudarshan Chemical Industries Ltd. is Rs 840.35. Sudarshan Chemical Industries Ltd., incorporated in the year 1951, is a Mid Cap company (having a market cap of Rs 5751.40 Crore) operating in Chemicals sector.

Navneet Education with a target price of Rs 182. The current market price of Navneet Education Ltd. is Rs 166.3. Navneet Education Ltd., incorporated in the year 1984, is a Small Cap company (having a market cap of Rs 3608.10 Crore) operating in Paper sector.

quarterly earnings for the January-March 2024 period on Thursday, with some important names like ITC, IndiGo, Honasa, and Tata Investment in the mix. Other companies which will also announce their earnings include Bikaji Foods, Cello World, Concord Biotech, Fortis Healthcare, Icra, Uno Minda, Zaggle Prepaid and many more.

The consumer durables space should benefit from the pick-up in project completion of real estate, says Sachin Trivedi, Fund Manager — Equity, UTI AMC. He is also bullish on select private sector banks, auto, healthcare and capital goods sector. Edited excerpts from a chat on Q4 results, market valuations and sectoral choices: How would you sum up the March quarter earnings season? Which pockets of the market would you prefer to avoid after listening to the management commentary?

Lai Ching-te took over as the island’s new president.The drills on Thursday were intended to “serve as a strong punishment for the separatist acts of ‘Taiwan independence’ forces and a stern warning against the interference and provocation by external forces," the official Xinhua News Agency reported, citing a military spokesman.The “external references" line is likely a reference to the US, which is Taiwan’s main military backer. President Joe Biden has repeatedly said the US would defend the democracy of 23 million people if attacked, while China has pledged to bring Taiwan under its control, by force if necessary.The exercises ramp up pressure on Lai, who took office in the island that makes the bulk of the world’s most advanced chips on Monday.

Royal Canadian Mounted Police (RCMP) has issued a warning to Hardeep Malik, the son of Ripudaman Singh Malik, who was acquitted in connection with the Air India bombing of 1985. Hardeep Malik, a Surrey-based businessman, received an official letter cautioning him about potential threats to his life. This comes in the wake of Ripudaman Singh Malik's murder in 2022, for which two individuals have been charged, CBC News reported. Despite the lack of concrete evidence, the CBC News report claims that RCMP investigators are exploring the possibility of the Indian government's alleged involvement in Ripudaman Singh Malik's assassination, similar to their alleged role in the killing of Sikh separatist Hardeep Singh Nijjar the previous year.

Deepak Nitrite with a target price of Rs 228. The current market price of Deepak Nitrite Ltd. is Rs 2466.1. Deepak Nitrite Ltd., incorporated in the year 1970, is a Mid Cap company (having a market cap of Rs 33600.43 Crore) operating in Chemicals sector.

South Korean police officers have arrested 28 people they suspected of orchestrating a crypto investment fraud ring.

The Japanese e-commerce giant Mercari has taken another step into the crypto sphere by launching Ethereum (ETH) trading services on its app.

Grasim Industries: The company reported a 15.5% YoY rise in its Q4FY24 consolidated net profit at ₹2,721.81 crore, up from ₹2,355.67 crore in Q4FY23. The company’s revenue from operations also saw a 13% increase to ₹37,727.1 crore. The company’s EBITDA for Q4FY24 stood at ₹6,196 crore, marking a 27% growth YoY.

Republican Party presidential candidate Nikki Haley said on Wednesday she will vote for former US President Donald Trump over US President Joe Biden in November, The Hill reported. In her remarks at the Hudson Institute, Haley stated she prioritises a president who will hold enemies to account, secures the border and back"capitalism and freedom." She noted that while «Trump has not been perfect on these policies», however, «Biden has been a catastrophe.»

general elections enter their penultimate phase, the spotlight turns to Delhi's seven Lok Sabha seats. The BJP aims for another clean sweep, while Aam Aadmi Party (AAP) and Congress, allies in the INDIA bloc, seek to make significant inroads. AAP and Congress Form Alliance in Delhi AAP and Congress are contesting the elections as partners in the INDIA bloc, with AAP vying for four seats and Congress for three. The alliance also extends to one seat in Haryana and two in Gujarat, while opting for a friendly fight in Punjab.

Federal Open Market Committee gathering ending May 1 showed that, while participants assessed that policy was “well positioned," various officials mentioned a willingness to tighten policy further if warranted. “Participants noted disappointing readings on inflation over the first quarter," according to the minutes released Wednesday in Washington.

Also Read: Union Budget and the path forward for Indian RailwaysThe platform maintenance work will last nearly a fortnight and will result in the cancellation of many trains operating between Pune and Mumbai.Also Read: Buddha Purnima 2024: From banks to offices, what's open and what's closedAccording to an HT report, the Pune-Mumbai-Pune Pragati Express will stand cancelled from May 28 to June 2. Meanwhile, Pune Mumbai Intercity Express will be cancelled from May 31 to June 2.

Also Read: Wall Street today: US stocks drift ahead of Fed minutes, Nvidia drops as investors await earningsOn Wednesday, the fear gauge India VIX fell 1.6% to 21.5, indicating minimal volatility in the Indian stock market. With the domestic market's medium-to-long-term outlook remaining solid, investors' attention has shifted from election-related concern to stock fundamentals.According to a CNBC news report, members of the Federal Reserve expressed a lack of confidence in their ability to proceed with interest rate cuts down as they were increasingly concerned about inflation during their most recent meeting.The Federal Open Market Committee's April 30-May 1 policy meeting minutes, which were made public on Wednesday, revealed that policymakers were unsure of when it would be appropriate to ease.Also Read: Top Events on May 23: PM Modi in Punjab, Odisha on cyclone alert, heatwave in Delhi, and moreAccording to Parekh, the Nifty 50 has witnessed a steady rise in the last 3–4 sessions, reaching the 22,600 zone with bias maintained positive and with active participation witnessed from the broader markets as well in recent times.