Latest Stock Market News

Benchmark indices Sensex and Nifty dropped for a sixth straight session, impacted by mixed global trends. Key stocks included Macrotech Developers gaining 1.3%, while Naukri and Titan fell by 2.4% and 2.6% respectively. Analyst Ameya Ranadive provides recommendations for these stocks amid market volatility.

Nykaa witnesses strong performance in Q2 with consolidated net revenue growth in mid-twenties. Beauty vertical, omnichannel retail, and eB2B distribution show robust growth. Fashion vertical sees NSV growth in early teens. Nykaa expands Dot & Key ownership to 90%. Festive season expected to boost demand.

​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.