Latest Stock Market News

Indian benchmark indices Sensex and Nifty experienced a decline at the opening on Friday, interrupting a six-day rally driven by optimism surrounding Goods and Services Tax (GST) reforms. Investors adopted a cautious stance in anticipation of Federal Reserve Chair Jerome Powell s policy remarks at the Jackson Hole symposium later in the day.

Yes Bank shareholders have approved the reappointment of MD & CEO Prashant Kumar until April 2026, extending his tenure beyond October 2025. The move follows RBI’s earlier nod for a six-month extension. Brought in during the 2020 bailout, Kumar has been credited with steering the bank’s recovery, strengthening capital, and restoring investor and depositor confidence.

Brokerages are bullish on select stocks across various sectors, including consumption, logistics, pharma, and retail. Mamaearth, Adani Ports, Travel Food Services, and Anthem Biosciences are among the top picks, with potential upsides of up to 17% expected in the near term. Analysts cite factors like growth prospects, capacity expansions, and strategic positioning for their positive outlook.

Titagarh Rail Systems shares rose 3% after securing a Rs 467.25 crore LoI from GRSE to build two research vessels for the Geological Survey of India. The project, to be completed in 28 months under Indian Register of Shipping norms, comes as the company struggles with stock weakness—down 23% YTD despite a brief six-month recovery.

Avanse Financial Services, the Warburg Pincus-backed education financing firm, is weighing a delay in its planned IPO amid slowing loan demand caused by stricter US visa rules, according to people familiar with the matter. The Mumbai-based lender may wait for overseas loan demand to improve before resuming the share sale, though deliberations are ongoing and no final decision has been taken.

Sudip Bandyopadhyay suggests that GST reduction and other factors will boost consumer durables and cement industries. He recommends Voltas and Amber Enterprises in the consumer durables sector. While positive on market infrastructure institutions long-term, he notes potential short-term volatility due to regulatory focus on curbing speculation, impacting exchanges and broking houses.

Just before Ganesh Chaturthi, bank credit grew faster than deposits. RBI data shows credit growth at 10.22% and deposit growth at 10.05%. Last year, credit growth was higher at 13.7%. Bankers anticipate stronger credit growth in the second quarter, driven by festive demand. Deposit growth is slow due to repricing and alternative investments.

Equity investment by Indian companies abroad witnessed a 22% decline in July compared to the previous year, totaling $1.592 billion, according to RBI data. This decrease occurred amidst stricter regulations on outward foreign direct investment. However, total financial commitment increased due to a rise in guarantees issued, reaching $3.512 billion.

The Reserve Bank of India is reviewing its inflation targeting framework, established in 2016, and seeks stakeholder input on potential adjustments. While acknowledging the success of the 4% target, the RBI is open to considering alternative benchmarks, including core inflation, and adjustments to the tolerance band. The review aims to improve macroeconomic outcomes amidst emerging global challenges.