Latest Stock Market News

​Good part is that in terms of our portfolio, we were already positioned towards things which were at reasonable valuation. So, we have avoided PSUs, railways, defence, those kind of stocks. We do not own in our portfolio for quite some time now.

Nine stocks including Bandhan Bank, Birlasoft, GNFC, and others are banned from F&O trading on Tuesday. This happens when open interest crosses 95% of market-wide positions limits. The bans will reverse if the open interest falls below 80%. The Indian stock market indexes Sensex and Nifty also ended lower due to multiple factors.

Bharti Airtel is in advanced talks to acquire Tata Play, India’s largest DTH business. This move aims to bolster Airtel’s position in the digital TV segment. If successful, it will be the second major deal between Airtel and Tata Group. This acquisition would help Airtel compete with Jio’s aggressive market strategies.

Akzo Nobel India has informed that its Dutch parent Akzo Nobel NV is conducting a strategic review of its portfolio to redeploy capital towards growing its core coatings businesses. The initial focus will be on its decorative paints business in South Asia and various strategic options will be explored ranging from partnerships or joint ventures through to mergers or divestments.

The NSE Nifty fell 0.87% or 218.85 points to close at 24,795.75. The BSE Sensex declined 0.78% or 638.45 points to close at 81,050. Both indices have slid nearly 5.3% in the past six days. The last time the Sensex and Nifty fell for six days in a row was in October 2023.

Vedanta Resources (VRL) is considering tapping its recently issued dollar bond of $900 million to raise another $400 million to $500 million, sources say. Piramal Finance last week raised an additional $150 million from its $300-million bond. Muthoot Finance also tapped into its earlier $650-million bond, although that issuance predated the start to US rate easing cycle.

The benchmark 10-year U.S. Treasury yield held above 4% in early Asia trade, as a robust U.S. labour market prompted traders to heavily scale back their expectations for Federal Reserve rate cuts.

HEG acquired 8.23% stake in GrafTech International for about Rs 248.62 crore. GrafTech International is a leading manufacturer of high quality graphite electrode products essential to the production of electric arc furnace steel and other ferrous and non-ferrous metals.

Public sector banks saw stronger credit growth compared to deposit growth for the September quarter. Bank of India, Union Bank of India, and Indian Bank reported credit growth between 10% to 14%, while deposit growth ranged from 8% to 10%, according to provisional numbers.

According to investment bankers, there were some technical issues with the draft papers and Sebi requested the company to make necessary revisions. As a result, the company decided to withdraw and refile the DRHP, they said. "The withdrawal of the DRHP has nothing to do with the weak secondary market. The company is expected to submit the revised DRHP within a month," said one of the bankers.