Mutual Funds Sahi Hai!
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Change in Fund Management Responsibilities:
Mr. Dikshit Mittal - Co Fund Manager
Mr. Jaiprakash Toshniwal - Co Fund Manager
Details of Mr. Himanshu Sinha
Age: 32 years
Designation: Chief Risk Officer
Qualification: B.Tech from Deenbandhu Chotu Ram University of Science & Technology and M.B.A from MDI Gurgaon
Mr. Ganesh Binjola ceases to be the Chief Risk Officer of Groww Mutual Fund (Formerly known as Indiabulls Mutual Fund) with effect from June 01, 2023
Further, Ms. Siddhi Vakharia cease to be the Trustee Officer of Groww Trustee Limited (Formerly known as Indiabulls Trustee Company Limited) with effect from June 01, 2023.
Change in Scheme name:
Tata Hybrid Equity Fund – Regular Plan & Direct Plan: 0.31 each.
Tata Equity Savings Fund – Regular Plan & Direct Plan: 0.051 each.
The New Fund Offer (NFO) price for the scheme is Rs 10 per unit.
Category of Scheme: Equity Scheme - Sectoral/ Thematic
The scheme has two plans: regular plan and direct plan.
The Scheme has the following Options: Growth Option & Income Distribution cum Capital Withdrawal (IDCW) Option
The minimum application amount is Rs 5000 and in multiples of Re. 1/- thereafter.
The additional application amount is Rs 1000 and in multiples of Re. 1/- thereafter.
Load structure: NIL
Benchmark Index for the scheme is Nifty Financial Services TRI
The fund manager of the scheme is Mr. Ankit Pande Fund Manager - Equity
Mr. Sandeep Tandon Fund Manager - Equity
Mr. Sanjeev Sharma Fund Manager - Debt
Mr. Vasav Sahgal Fund Manager - Equity
ICICI Prudential Multi-Asset Fund:
Regular Plan – IDCW: 0.1600
Direct Plan – IDCW: 0.1600
ICICI Prudential Equity-Arbitrage Fund:
Regular Plan – IDCW: 0.0500
Direct Plan – IDCW: 0.0500
Details of Mr. Nikhil Johari
Age: 45 years
Designation: Associate Director
Qualification: Bachelor of Business Studies (BBS) from Delhi University and Post Graduate Program in Management (MBA) from SP Jain Institute of Management & Research, Mumbai.
ICICI Prudential Balanced Advantage Fund:
Regular Plan – Monthly IDCW: 0.07
Direct Plan – Monthly IDCW: 0.07
ICICI Prudential Equity & Debt Fund:
Regular Plan – Monthly IDCW: 0.16
Direct Plan – Monthly IDCW: 0.16
Kotak Nifty Next 50 Index Fund & Kotak Nifty Smallcap 50 Index Fund:
Initial Purchase:
Rs. 100/- and in multiples of Re. 1 for purchases
Additional Purchase: Rs. 100/- and in multiples of Re. 1 for purchases
Systematic Investment Plan (SIP):
Minimum amount: Rs. 100
Minimum number of installments: 6
Category of Scheme: Equity Scheme - Focused Fund
Load structure:• 1% if redeemed or switched out on or before completion of 12 months from the date of allotment of units; • Nil, if redeemed or switched out after completion of 12 months from the date of allotment of units.
Benchmark Index for the scheme is Nifty 500 Total Return Index
The fund manager of the scheme is Mr. Dhimant Shah and Mr. Rohan Korde. Further, Mr. Tanay Gabhawala is the dedicated Fund Manager for making overseas investments
Details of Mr. Ayan Nandy
Designation: Senior Associate Vice President & Dealer – Fixed Income
Qualification: B.Tech in Computer Science, Master's degree in Securities Market
Details of Mr. Suresh Kishinchand Khatanhar
Age: 59 years
Designation: Additional Nominee Director and Chairman
Qualification: M.Com, AICWA, CAIIB
Accordingly, the NFO of the Scheme will now close for subscription on May 30, 2023.
SGX Nifty:
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could drop 58 points at the opening bell.
The Central government's NSO office on Wednesday released India's Gross Domestic Product (GDP) data for the January-March quarter (Q4FY2023). In Q4FY23, GDP growth was at 6.1% compared to 4.4% growth rate witnessed in Q3. Overall, the growth in FY23 fiscal is better-than-expected to 7.2%. However, the FY23 growth has slowed down from 9.5% growth in FY22.
The government's fiscal deficit narrowed to Rs 17.33 trillion or 6.4% of GDP for the financial year ended March 2023 compared with the previous financial year, on the back of higher tax receipts. Official data released on Wednesday showed that the deficit was lower than the revised estimate of Rs 17.55 trillion given in the Union Budget 2023.
Global markets:
Overseas, Asian stocks are trading mixed on Thursday as investors remained cautious amid the passage of US debt ceiling bill and the release of manufacturing data of several Asian countries, including China.
US stocks slipped on Wednesday as investors kept an eye on the federal debt ceiling debate in Washington in the final trading day of May.
The House of Representatives passed a bill to suspend the $31.4 trillion debt ceiling on Wednesday, with majority support from both Democrats and Republicans, avoiding a catastrophic default. The Republican-controlled House voted 314-117 to send the legislation to the Senate, which must enact the measure and get it to President Joe Biden's desk.
Domestic markets:
Back home, domestic equity benchmarks corrected on Wednesday, due to profit selling after a four-day gaining streak. Global cues were weak as investors worried about the approval of raising the US debt ceiling and the economic outlook for China. The barometer index, the S&P BSE Sensex, declined 346.89 points or 0.55% to 62,622.24. The Nifty 50 index lost 99.45 points or 0.53% to 18,534.40.
Foreign portfolio investors (FPIs) bought shares worth Rs 3,405.90 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 2,528.52 crore in the Indian equity market on 31 May, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could slide 72 points at the opening bell.
Overseas, Asian stocks are trading lower on Wednesday, led lower by declines in Hong Kong as weakening factory activity in China dented sentiment that was already damped by the risk of a US debt default.
China's official measure of factory activity for May slid for a second-straight month in May to 48.8, a steeper contraction than March's 49.2.
US stocks ended mixed on Tuesday as Wall Street considered the likelihood of Congress passing a tentative deal on raising the U.S. debt ceiling amid growing opposition within the GOP.
The U.S. debt ceiling remained in focus with markets hoping an agreement President Joe Biden struck with the top congressional Republican to suspend the United States' borrowing limit can pass through Congress in coming days. The plan cleared a House committee overnight and is set for debate and passage on Wednesday, which would send it to the Senate where debate could stretch to the weekend.
Fed Bank of Richmond President Thomas Barkin said he is looking for signs that demand is cooling to be convinced that US inflation will ease.
Back home, the domestic equity benchmarks ended with decent gains on Tuesday, rising for the fourth trading session. The barometer index, the S&P BSE Sensex advanced 122.75 points or 0.20% to 62,969.13. The Nifty 50 index added 35.20 points or 0.19% to 18,633.85.
Foreign portfolio investors (FPIs) bought shares worth Rs 2,085.62 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 438.93 crore in the Indian equity market on 30 May, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 14 points at the opening bell.
Overseas, Asian stock markets are trading mixed Tuesday ahead of the vote on the tentative US debt ceiling deal.
US markets were closed on Monday on the occasion of Memorial Day.
President Joe Biden and House Speaker Leader Kevin McCarthy reached a deal over the weekend to raise the United States' $31.4 trillion debt ceiling and avert a debt default. The US Congress is likely to vote on the legislation on Wednesday, but some of the Republican lawmakers are said to oppose the bill, signaling that its passage would not be easy before the US runs out of money.
Back home, the key equity benchmarks managed to end with moderate gains on Monday, even as the bourses witnessed bouts of volatility during today's session. The barometer index, the S&P BSE Sensex, jumped 344.69 points or 0.55% to 62,846.38. The Nifty 50 index added 99.30 points or 0.54% to 18,598.65.
Foreign portfolio investors (FPIs) bought shares worth Rs 1,758.16 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 853.57 crore in the Indian equity market on 29 May, provisional data showed.
Trading for the week is likely to begin on strong note after U.S President Joe Biden and congressional leaders reached a tentative deal to raise the debt ceiling over the weekend.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could jump 159 points at the opening bell.
Overseas, Asian stocks are trading higher on Monday on improved risk appetite following the deal between US President Joe Biden and House Speaker Kevin McCarthy to raise the debt ceiling.
US stocks rose on Friday as talks on raising the US debt ceiling progressed. President Biden and Speaker McCarthy reached a final agreement to avert US default and to suspend the debt limit through January 2025.
Back home, the domestic stock market rallied on Friday, driven by the strong growth forecast for the Indian economy and the expectation of a normal monsoon. The barometer index, the S&P BSE Sensex advanced 629.07 points or 1.02% to 62,501.69. The Nifty 50 index added 178.20 points or 0.97% to 18,499.35.
Foreign portfolio investors (FPIs) bought shares worth Rs 350.15 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,840.98 crore in the Indian equity market on 26 May, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 39 points at the opening bell.
Overseas, Asian stocks are trading subdued on Friday, apart from standout gains in Japan, as an artificial intelligence rally took a breather and as time ticked out on high-stakes talks to avoid a U.S. debt default.
Wall Street ended sharply higher on Thursday after a blowout forecast from Nvidia sent the chipmaker's stock soaring and fueled a rally in AI-related companies, while investors watched for signs of progress in U.S. debt ceiling talks.
US Republican negotiators on Thursday said some progress had been made in debt-ceiling talks, though a deal has not yet been reached.
Back home, the key equity indices ended with small gains on Thursday, with the Nifty closing above the 18,300 level. The barometer index, the S&P BSE Sensex rose 98.84 points or 0.16% to 61,872.62. The Nifty 50 index lost 35.75 points or 0.20% to 18,321.15.
Foreign portfolio investors (FPIs) bought shares worth Rs 589.10 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 338.44 crore in the Indian equity market on 25 May, provisional data showed.
Trading could be volatile as traders roll over positions in the F&O segment from the near month May series to June series. The May 2023 F&O contracts are set for expiry today 25 May 2023.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 45 points at the opening bell.
Overseas, Asian markets are trading mixed as the Bank of Korea held its benchmark interest rate steady at 3.5%, in line with expectations. South Korea, which was one of the first Asian banks to pause its rate hikes, has held rates for three straight meetings since January.
US stocks fell on Wednesday as investor concerns over the debt ceiling mounted and ratings agency Fitch put the United States' AAA rating on negative watch. U.S.
Fitch Ratings put the U.S.′ AAA long-term foreign-currency issuer default rating on a negative watch. The rating agency said the ongoing debt ceiling negotiations have raised the risks that the government could miss payments on some of its obligations. Fitch noted that it still expects Washington officials to arrive at a resolution before the deadline.
Federal Reserve officials were also divided on the need to raise interest rates, minutes from the central bank show. The minutes indicated that a decision to increase rates at the next meeting would ultimately hinge on upcoming data releases.
Back home, the key equity indices ended with modest losses on Wednesday, snapping a three-day rising streak. The barometer index, the S&P BSE Sensex, fell 208.01 points or 0.34% to 61,773.78. The Nifty 50 index lost 62.60 points or 0.34% to 18,285.40.
Foreign portfolio investors (FPIs) bought shares worth Rs 1,185.84 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 300.93 crore in the Indian equity market on 24 May, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could slide 79 points at the opening bell.
Overseas, Asian stocks fell for a second day as negotiations over raising the US debt ceiling remained at an impasse, sapping risk sentiment.
New Zealand's central bank increased interest rates by 0.25 percentage points on Wednesday, maintaining its hawkish position. The Reserve Bank of New Zealand raised the official cash rate to 5.5%, the highest since October 2008. It also warned that an economic contraction this year was possible.
US stock market ended lower Tuesday amid growing worries over raising the debt limit after another round of talks between White House officials and Congressional Republicans ended without a conclusion.
US debt negotiations continued but progress appeared limited, with some House Republicans questioning the urgency of a deadline imposed by Treasury Secretary Janet Yellen for when the government will start missing debt payments.
Investors will keep an eye on the minutes of the meeting of Federal's Reserve on May 2-3 that are due to be released on Wednesday. Minutes will offer traders the latest insights into whether interest rates will be paused at the Fed's June gathering.
Back home, the key equity indices ended with minor gains on Tuesday, rising for the third consecutive trading session. The barometer index the S&P BSE Sensex rose 18.11 points or 0.03% to 61,981.79. The Nifty 50 index added 33.60 points or 0.18% to 18,348.
Foreign portfolio investors (FPIs) bought shares worth Rs 182.51 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 397.29 crore in the Indian equity market on 23 May, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 29 points at the opening bell.
Overseas, Asian stocks are trading higher even as talks between U.S President Joe Biden and House Speaker Kevin McCarthy ended without a deal.
US stocks ended the session mixed on Monday as talks in Washington resumed to avert a US default. President Joe Biden and House Speaker Kevin McCarthy said they had a productive talk on the debt ceiling. Treasury Secretary Janet Yellen said the chances are “quite low" that the US can pay all its bills by mid-June.
Back home, the domestic benchmark indices advanced for the second consecutive session on Monday, supported by expectations of progress in US debt-ceiling negotiations. The barometer index, the S&P BSE Sensex advanced 234 points or 0.38% to 61,963.68. The Nifty 50 index added 111 points or 0.61% to 18,314.40.
Foreign portfolio investors (FPIs) bought shares worth Rs 922.89 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 604.57 crore in the Indian equity market on 22 May, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 26 points at the opening bell.
The RBI has decided to start withdrawing 2,000-rupee notes from circulation, citing "clean note policy". The 2,000-rupee note will remain legal tender. People will be able to deposit the Rs 2,000 note at the bank, or exchange it for notes of smaller denominations up to Rs 20,000 at a time between May 23 and September 30. The Rs 2,000 note was introduced in November 2016, after the government announced demonetisation of Rs 500 and Rs 1,000 notes.
Overseas, Asian stocks are trading mixed on Monday after the Group of Seven summit in Hiroshima concluded and talks on the debt ceiling are slated to resume in the U.S. People's Bank of China left its 1-year and 5-year loan prime rates unchanged.
U.S. stocks finished lower Friday, weighed down by worries over the debt-ceiling deadline and concerns that more mergers involving regional banks may be needed.
Federal leaders are expected to continue with negotiations on the U.S. debt ceiling on Monday as the country approaches a potential default. President Joe Biden and House Speaker Kevin McCarthy, R-Calif., are scheduled to meet in person at the White House. Treasury Secretary Janet Yellen has said the U.S. could default on its debt as early as June 1.
Back home, Key indices managed to close with modest gains on Friday, ending a three-day losing streak. The S&P BSE Sensex advanced 297.94 points or 0.48% to 61,729.68. Similarly, the Nifty 50 index saw a gain of 73.45 points or 0.41%, settling at 18,203.40.
Foreign portfolio investors (FPIs) sold shares worth Rs 113.46 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,071.35 crore in the Indian equity market on 19 May, provisional data showed.
Domestic stock indices are likely to open slightly higher on Friday. Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 30 points at the opening bell.
On the political front, the swearing-in ceremony of the new Karnataka chief minister Siddaramaiah and deputy chief minister DK Shivakumar will be held on May 20. In the May 10 elections to the 224-member Karnataka Assembly, the Congress scored an emphatic victory by bagging 135 seats while the ruling BJP and Janata Dal (Secular) secured 66 and 19 seats, respectively.
Overseas, most Asian stocks are are trading mixed ahead of G7 summit in Japan. Japan's Nikkei share average rose on Friday to the highest since August 1990, the country's so-called "bubble" era.
Prime Minister Narendra Modi will be in Japan's Hiroshima from May 19-21 for the Group of Seven (G7) summit. The leaders will discuss a wide range of issues including geopolitics, economics, and climate change challenges. The Russia-Ukraine war and escalating tensions between China and the United States could dominate the agenda.
US stocks closed higher for a second straight day on Thursday on mounting optimism that a US debt ceiling deal could be reached within days, with discount retailer Walmart Inc providing additional support after an upbeat annual sales forecast.
Back home, domestic barometers extended their decline for the third consecutive session on Thursday. The barometer index, the S&P BSE Sensex declined 128.90 points or 0.21% to 61,431.74. The Nifty 50 index lost 51.80 points or 0.28% to 18,129.95.
Foreign portfolio investors (FPIs) bought shares worth Rs 970.18 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 849.96 crore in the Indian equity market on 18 May, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 34 points at the opening bell.
Overseas, Asian stocks are trading higher on hopes of U.S President Joe Biden and congressional leaders inching closer to a deal to raise the U.S. debt ceiling and avoid a default.
Japan's trade deficit has narrowed by almost half in April, falling to 432.41 billion from 854.93 billion a year ago.
Wall Street stocks advanced on Wednesday as investors grew more confident the White House would reach a deal with Congress to avoid a government default.
US president Joe Biden on Wednesday said he was “confident” about reaching a budget agreement with Congress to avoid a default on US debt, and left the door open to meeting a central Republican demand of adding work requirements to social safety net programmes.
Treasury secretary Janet Yellen has warned the US could default on its debt as early as next month, with the issue prompting Biden to cut short his forthcoming overseas trip.
Traders digested the release of the eurozone's final harmonised index of consumer prices for April, which posted a slight increase in the annual rate to 7%, up from 6.9% in March.
Back home, domestic equity benchmarks experienced moderate losses for the second day in a row on Wednesday, primarily due to weak global sentiment. The barometer index, the S&P BSE Sensex slipped 371.83 points or 0.60% to 61,560.64. The Nifty 50 index lost 104.75 points or 0.57% to 18,181.75.
Foreign portfolio investors (FPIs) sold shares worth Rs 149.33 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 203.87 crore in the Indian equity market on 17 May, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 34 points at the opening bell.
The onset of monsoon over the Kerala coast is expected to be delayed by three days, the India Meteorological Department said on Tuesday. The southwest monsoon, which normally sets in over Kerala on June 1, is likely to arrive on June 4. The arrival of monsoon over the Kerala coast marks the beginning of the four-month monsoon season over the Indian sub-continent, which produces about 75% of the country's annual rainfall.
Overseas, Asian stocks are trading mixed as the region looks to economic data from several countries, including Japan and Australia.
Japan's economy grew 1.6% in the first quarter of the year on an annualized basis, economic data showed on Tuesday. Quarter-on-quarter, the economy grew 0.4%, also higher than forecasts to see 0.1% growth.
US stocks declined on Tuesday with a disappointing forecast from Home Depot, mixed economic data and worries over the debt ceiling impasse keeping investors nervous.
Treasury Secretary Janet Yellen on Tuesday warned that a US default on government debt would leave millions of Americans without income payments, potentially triggering a recession that destroys many American jobs and businesses.
The Commerce Department said retail sales rose by 0.4% in April after falling by a revised 0.7% in March. A separate report from the Federal Reserve showed industrial production climbed by 0.5% in April, while revised data showed production was unchanged in each of the two previous months.
Back home, key equity barometers experienced a pause in their upward trajectory on Tuesday, putting an end to a two-day winning streak. The barometer index, the S&P BSE Sensex slipped 413.24 points or 0.66% to 61,932.47. The Nifty 50 index shed 112.35 points or 0.61% to 18,286.50.
Foreign portfolio investors (FPIs) bought shares worth Rs 1,406.86 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 886.17 crore in the Indian equity market on 16 May, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 54 points at the opening bell.
Overseas, Asian stocks are trading mixed as investors digest key economic releases from China. Retail sales, industrial production and fixed asset investment all came in below expectations.
China's industrial output grew 5.6% in April from a year earlier, official data showed on Tuesday, accelerating from a 3.9% gain seen in March. Retail sales jumped 18.4%, significantly faster than the 10.6% increase in March and marked the quickest growth since March 2021. Fixed asset investment expanded 4.7% in the first four months of 2023 from the same period a year earlier. It grew 5.1% in the January-March period.
US stocks rose on Monday amid ongoing debt ceiling negotiations between the White House and Republicans. In focus for investors were debt ceiling talks, which were postponed to this week from Friday. President Joe Biden is expected to host top congressional leaders on Tuesday.
Back home, the market rallied on Monday, supported by positive signals from the Asian and European markets, as well as a continued decrease in wholesale inflation figures in India. The barometer index, the S&P BSE Sensex advanced 317.81 points or 0.51% to 62,345.71. The Nifty 50 index added 84.05 points or 0.46% to 18,398.85.
Foreign portfolio investors (FPIs) bought shares worth Rs 1,685.29 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 191.20 crore in the Indian equity market on 15 May, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 44 points at the opening bell.
On the political front, Congress has made a comeback in Karnataka, as per the results declared by the Election Commission. The Congress has won 136 seats, the BJP's tally has been reduced to 66 and the JD(S) 19.
Overseas, Asian stocks are trading mixed as investors braced for the release of China's industrial and retail data, while awaiting a host of U.S. Federal Reserve officials to speak to vindicate market pricing of rate cuts this year. China is due to report monthly industrial production, retail sales and fixed asset investment data on Tuesday.
US stocks ended slightly lower on Friday, led by weaker megacap shares following their recent rally, as data showed US consumer sentiment dropped to a six-month low.
The Congressional Budget Office said on Friday the U.S. faces a "significant risk" of defaulting on payment obligations within the first two weeks of June without a debt ceiling increase.
U.S. consumer sentiment slumped to a six-month low in May, a survey showed on Friday. The University of Michigan's preliminary reading on the overall index of consumer sentiment came in at 57.7 this month, the lowest reading since last November and down from 63.5 in April.
Back home, the key equity benchmarks ended a volatile session with minor gains on Friday. The S&P BSE Sensex was gained 123.38 points or 0.20% to 62,027.90. The Nifty 50 index added 17.80 points or 0.1% to 18,314.80.
Foreign portfolio investors (FPIs) bought shares worth Rs 1,014.06 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 922.19 crore in the Indian equity market on 12 May, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could drop 77 points at the opening bell.
Overseas, Asian stocks are trading mixed after the U.S. posted more data that showed inflation was easing.
In US, The Dow and the S&P 500 fell on Thursday, pressured by a drop in Disney shares after the company reported a fall in subscriber growth, while PacWest's latest woes sparked another rout in the regional banking sector. The Nasdaq rose boosted by rise in shares of Alphabet Inc after Google rolled out more artificial intelligence products on Wednesday to take on competition from Microsoft Corp.
U.S. and Chinese officials reportedly met for two days in Vienna to discuss a range of topics, including Russia's war in Ukraine, amid tensions between the world's two largest economies.
U.S. Treasury Secretary Janet Yellen urged Congress to raise the federal debt limit and warned that a default could have severe repercussions on the global economy. Markets are keenly watching for any updates on raising the United States' $31.4 trillion debt ceiling, as the country races to avert an unprecedented default.
In economic data, the producer price index for April, posted a year-on-year increase of 0.2%, after declining 0.4% in March. Excluding food and energy, core PPI also rose 0.2%.
Back home, the key equity barometers ended with minor cuts on Thursday, mirroring negative global cues. The barometer index, the S&P BSE Sensex fell 35.68 points or 0.06% to 61,904.52. The Nifty 50 index lost 18.10 points or 0.1% to 18,297.
Foreign portfolio investors (FPIs) bought shares worth Rs 837.21 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 200.09 crore in the Indian equity market on 11 May, provisional data showed.