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Reliance Jio may change its IPO plan. Instead of existing investors selling shares, it could be a fresh issue. This means money goes directly into Jio Platforms for debt reduction and expansion. This move could restore investor faith in large Indian IPOs. It might set a new standard for future mega listings. The market will watch this development closely.
Asserting that fuel conservation can ease nation's burden amid surge in fuel prices across the world, the ministry highlighted the prime minister's appeal to the nation on Sunday, May 10, in Hyderabad.
The rupee has reached its lowest point ever against the US dollar. This decline is driven by investor concerns over escalating conflict in the Middle East. The situation has led to a surge in oil prices. This development poses economic challenges for India, which imports most of its energy needs. The rupee's new low reflects these growing worries.
CBS News reports that Iran dispatched military aircraft, including a surveillance plane, to Pakistan's Nur Khan Air Base days after the April ceasefire with the US, potentially shielding them from American airstrikes. Pakistan has denied the claim.
On May 11, five Nifty500 stocks closed over 2% below their VWAP levels, indicating rising bearish pressure. A close below the volume-weighted average price suggests stocks ended the session weaker than their average traded price, reflecting increased selling interest, deteriorating intraday sentiment, and possible short-term weakness in select market counters.
Five stocks from the Nifty500 universe appeared in the RSI Trending Up scan on May 11 after showing strengthening momentum. The RSI indicator crossed above 50 from lower levels, signalling improving price strength, positive sentiment, and possible short-term buying opportunities for traders tracking bullish technical setups and momentum-based indicators across sectors.
Petrol and diesel prices remained largely unchanged across major Indian cities on 12 May even as concerns over energy security continue to grow amid the escalating West Asia conflict.
Oil prices rose for a second day as uncertainty surrounding U.S.-Iran conflict resolution kept global crude supply concerns high. President Trump indicated ceasefire talks are struggling, while the U.S. plans to release oil from its reserves. Market attention now shifts to Trump's China visit, with hopes of leveraging influence for a resolution.
Investor Michael Burry, famed from 'The Big Short,' warns the Nasdaq 100 faces a sharp downturn, likening its "parabolic" tech surge to the dot-com bubble's peak. He points to soaring chip stocks and inflated valuations, suggesting Wall Street is overestimating company earnings. Burry advises caution and profit-taking, anticipating a significant market correction.
He also reaffirmed his administration's commitment to the state's growth, stating that the new team will work with ‘full dedication’ to build a ‘stronger, more developed, and prosperous Assam.’
