Asian markets traded higher on Thursday following record close in Wall Street indices overnight and as investors assessed Japan GDP data.Japan’s Nikkei 225 gained 0.9%, while the Topix rose 0.54%.The US stock market ended higher with all three major indexes notching record closes on Wednesday after slower growth in inflation.Here’s a table showing how US stocks performed on Wednesday:

Source: EquitymasterAt present, the BSE Sensex is trading 158 points higher and NSE Nifty is trading 40 points higher.Infosys, ONGC, and Tech Mahindra are among the top gainers today.Maruti Suzuki, Shriram Finance, and Power Grid Corporation the other hand are among the top losers today.Broader markets are trading on a positive note. The BSE Midcap index and the BSE Smallcapindex is trading 0.6% higher.Sectoral indices are trading mixed, with stocks in the power sector, realty sector, and metal sector witnessing buying. Meanwhile, stocks in the metal sector and healthcare sector witnessed selling pressure.The rupee is trading at Rs 83.46 against the US dollar.In commodity markets, gold prices are trading flat at Rs 73,095 per 10 grams today.
 Dixon Technologies Q4 ResultsIndian electronics manufacturing services provider Dixon Technologies posted a 20% on-year rise in net profit on the back of a surge in mobile phone orders.For the January-March quarter, the company posted a net profit of Rs 970 million (m). Quarterly revenue jumped 52% on-year to Rs 46.8 bn.The electronics manufacturer has over two dozen production facilities across the country. Dixon makes smartphones and feature phones for brands such as Xiaomi, Motorola, Samsung, and Jio, and is in talks with other global brands for more manufacturing orders.Sequentially, however, profit after tax remained flat as compared to the previous quarter, while revenue declined 3% quarter-on-quarter.The company’s EBITDA margin also saw a 0.9% slide to 4.3% compared to 5.2% in Q4 FY23.Dixon’s board recommended a dividend of Rs 5 per equity share.The company’s revenue from mobile phone manufacturing, which contributes the majority to its overall revenue, jumped 119% on-year but was down 4% quarter-on-quarter to Rs 30.9 bn.

Why Metal Stocks are Rising
Almost all metal stocks closed in the green on 15 May, unnerved by fears that India risks becoming a dumping ground for Chinese products like electric vehicles (EVs) and batteries as the US intensifies efforts to reduce reliance on Beijing by increasing tariffs.On 14 May, President Joe Biden announced significant tariff increases on various Chinese imports, including electric vehicles, computer chips, and medical products. According to the White House, the new measures affect US$ 18 billion (bn) worth of Chinese goods, including steel, aluminium, semiconductors, batteries, critical minerals, solar cells, and cranes.Major metal stocks such as Tata Steel, Hindalco, Vedanta, and NMDC all edged higher by over 1%. The only exception was JSW Steel, slipping over 1% lower from the previous close on May 15. The Nifty Metal index also closed marginally higher by 0.3% at 9,377, extending gains for the fourth session in a row.GTRI or Global Trade Research Initiative, a private trade think tank, said that the proposed tariff increases exceed the US’s bound duty commitments at the World Trade Organization (WTO), potentially violating WTO provisions.In FY24, China remained India’s top source of imports, accounting for 15.1% of total inbound shipments, followed by Russia, provisional data from the Commerce Ministry showed.
 SBI Hikes FD RateThe State Bank of India (SBI) on Wednesday, 15 May, raised interest rates on certain fixed deposits (FDs) by up to 0.3%-0.8%. The rate adjustments target deposits below Rs 20 m.SBI has increased rates across various tenures, including FDs maturing within 46 days to 179 days, 180 days to 210 days and 211 days to less than one year.The revised rates entail a 0.8% rise for deposits maturing in 46 days to 179 days, now fetching a 5.5% interest rate. Similarly, for 180 days to 210 days, the bank has raised rates by 0.3% to 6% interest.Fixed deposits ranging from 180 days to 210 days will yield an increased interest rate of 6.3% after a 0.3% hike.The development comes after RBI Governor Shaktikanta Das-led monetary policy committee (MPC) in April 2024 kept the repo rate unchanged for the seventh time at 6.5%.However, the central bank earlier implemented six consecutive rate hikes, totaling 2.5%, until the pause in April 2023.During the period when the RBI increased the repo rate, banks gradually followed suit by raising their FD interest rates, although there was some delay in transmission.Banks that initially delayed raising their FD rates have since been increasing them to catch up with the RBI’s policy actions.More By This Author:Sensex Today Ends 118 Points Lower; Nifty Below 22,200Sensex Today Trades Higher; Cipla Gains 5%, Bharti Airtel 2%Sensex Today Ends 329 Points Higher; Nifty Tops 22,200