Sat, Apr 20, 2024 3:23 PM
LIC-backed power generation stock incorporated a new JV company
A Flip by Shubhangi Gupta
Equities in Asia climbed after stocks and bonds rallied on Wall Street Thursday, ahead of crucial US jobs data due later Friday. Shares in Australia and South Korea rose alongside Hong Kong futures, while markets in Japan and mainland China are closed for holidays. The S&P 500 advanced 0.9% and the tech-heavy Nasdaq 100 climbed 1.3% on Thursday.
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Amid easing Middle East tensions, safe haven buying in bullion seems to be diminishing as gold prices on MCX for June futures contracts fell by Rs 102 or 0.14% on Friday to trade at Rs 70,634 per 10 grams while MCX July silver contracts were down by Rs 44 or 0.05% to Rs 81,319 per kg.Gold and silver exhibited significant volatility, initially surging during the early trading session.
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Global brokerage firm CLSA believes that outlook for aluminium is resilient, and that demand recovery will support metal prices. The Indian smelters they believe are well placed. The brokerage is positive on metals space and has issued 'Buy' calls on Hindalco Industries and Vedanta. For Hindalco Industries, CLSA has recommended a 'Buy' call and raised its target price to ₹770 from ₹635.
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