Copper prices surged to record highs globally, with MCX copper rising 1.3% amid supply disruptions and strong demand from electrification and AI-linked sectors. Analysts cite tightening supply chains and geopolitical tensions as key drivers. Despite a recent pullback, technicals and fundamentals suggest continued bullish momentum with dip-buying opportunities.
Onward Technologies has approved a Rs 180 crore share buyback, repurchasing nearly 5.49 lakh shares at Rs 328 apiece, a 20% premium. Promoters will not participate in this first-ever buyback, with May 18 set as the record date. The company appointed Centrum Broking as the buyback manager.
Euro zone bond yields surged as hopes for a U.S.-Iran peace deal diminished, with markets now anticipating three European Central Bank interest rate hikes this year. Rising oil prices and geopolitical uncertainty contributed to a more downbeat market sentiment, while German inflation remained at 2.9% in April.
But Tokyo Electron gave up early losses to end 0.14% higher. Advantest, which fell as much 1.5%, recovered most of its loss to edge 0.26% lower.
Despite foreign investor outflows, domestic investors are bolstering Indian equities, keeping benchmark indices resilient. Market veteran Gautam Trivedi notes a divergence between the economy and stock market, with India appearing unattractive to foreign investors compared to AI and commodity-linked emerging markets. Domestic inflows, driven by retail and institutional investors seeking better returns, are offsetting FII exits.
Foreign investors are fueling a currency-stock market spiral, despite resilient domestic earnings. Analyst Sandip Sabharwal highlights strong corporate results and steady SIP inflows as market anchors. While retail trading has cooled, patient investors can look forward to a rebound once global sentiment improves, with Indian Hotels identified as a promising long-term pick.
Jyothy Labs shares dropped significantly after the company revealed that licence agreements for popular dishwash brand Pril and personal care brand Fa with Henkel will end in May 2026. This marks the conclusion of a long-standing partnership. Jyothy Labs is now focusing on its own brands, particularly Exo in the dishwash segment.
Gaurik Fashions has filed draft IPO papers with Sebi to raise funds through a fresh issue of 62 lakh shares and an OFS of 8 lakh shares by Aries Opportunities Fund. The retailer, which operates stores for brands such as Skechers, Guess and Bugatti, plans to use the proceeds to expand its retail footprint by opening new stores and funding inventory requirements across its subsidiaries.
Cisco Systems is set to report Q3 FY26 earnings on May 13, with investors closely watching AI infrastructure demand, hyperscaler spending, margins and guidance amid rising optimism around networking and cloud growth opportunities.
Indian outbound travel may see a temporary slowdown due to rising currency pressures and recent government remarks, prompting travellers to reconsider overseas holidays. Experts anticipate behavioural shifts rather than regulatory action, with a potential pivot towards more affordable ASEAN destinations. AI is also poised to disrupt travel aggregators, shifting consumer behaviour towards direct bookings.
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