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Home > Stock Market Updates > Market Savera - 03/05/2024
Podcast: Stock Market Updates
Episode:

Market Savera - 03/05/2024
Category: Business
Duration: 00:01:51
Publish Date: 2024-06-03 04:01:42
Description: U.S. stocks ended mostly higher Friday, after erasing earlier losses shortly before the closing bell. India's gross domestic product (GDP) growth surpassed all expectations and stood at 7.8 percent in the January-March quarter, though slower versus 8.4 percent in the third quarter. The full-year 2023-24 GDP growth has been revised upwards to 8.2 percent from the second advance estimate of 7.6 percent. India's eight core sectors posted a growth of 6.2 percent in April, backed by strong electricity and steel output. India's gross goods and services tax (GST) collections rose to ₹1.73 lakh crore in May (vs Rs.2.10 lakh cr in April), growing 10 per cent year on year (YoY) driven by increased revenues from domestic transactions India’s Prime Minister Narendra Modi looks set for a rare third consecutive term in power, as exit polls on Saturday suggested his Bharatiya Janata Party-led alliance will clinch a decisive parliamentary majority. Asian stocks gained on Monday, as a softer reading of the US Federal Reserve’s preferred measure for inflation bolstered rate-cut hopes. Adani Ports signs 30-year deal to operate terminal at Tanzania's Dar es Salaam Port Coal production in May grew by 7.5% year-on-year to 64.4 million tonnes, and offtake increased by 7.2% year-on-year to 68.2 million tonnes. NMDC’s iron ore output falls 37% in May; sales down 22 % Indian markets could open sharply higher due to outcome of exit polls in favour of ruling dispensation
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