Stock market today: Shares to open higher as Fed rate hike view eases

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Indian stocks are set to open higher on Friday as expectations of an interest rate halt from the US Federal Reserve boosted global risk sentiment and strong domestic macroeconomic factors boosted support.

Singapore-listed NSE share futures were up 0.4 percent at 18,644, as of 7:52 a.m. IST. the Nifty 50 and S&P BSE Sensex closed slightly lower Thursday.

Domestically, the decline in inflation, stronger-than-expected economic growth data, and the rapid expansion of factory production improved investor confidence, according to analysts.

the automakers reported on Thursday Strong sales of sport utility vehicles (SUVs) in May based on steady demand saw sales of two-wheelers increase, adding to the positive sentiment.

Overnight data showed that the number of Americans filing new applications for unemployment benefits rose modestly last week, while US manufacturing contracted for the seventh straight month in May.

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The data, along with calls from Fed officials to pause at the June 13-14 meeting, has pushed down bets on a rate hike.

Foreign institutional investors (FIIs) sold ₹71.07 crore worth of Indian stocks on Thursday, while local investors bought ₹489 crore worth of shares on a net basis, according to interim NSE data.

Stock buzz

Astrazeneca Pharma India Limited I obtained import authorization to sell and distribute Tremelimumab.

Adani Enterprises Ltd Adani Land Transport Company said that its unit decided to terminate the share purchase agreement with Maf Investment Company.

Autoline Industries Ltd has received an offer from Tata Motors to set up a facility in Sanand, Gujarat.

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Grasim Industries Ltd has agreed to subscribe for shares for an amount not exceeding INR 1,000 crore proposed by Aditya Birla Capital.

Tata Motors Limited It recorded a 6 percent increase in passenger car sales for the month of May

Info Edge Ltd said its Allcheckdeals India unit is embarking on a forensic audit of the affairs of startup 4B Networks.

DishTV Ltd He said the May 15th notice issued on behalf of minority shareholders to hold an extraordinary general meeting of the company is invalid.