Latest Stock Market News

Indian headline indices struggled to gain momentum, dragged by weak global cues and broad-based sell-off. IT, auto, and FMCG stocks were the biggest drag on the Nifty 50.

The Board of Directors of Peter Lee Associates Pty Ltd (PLA) and Crisil Irevna Australia Pty Ltd (Crisil Australia), the two wholly-owned subsidiaries of Crisil Ltd based in Australia, have approved the sale of the business of PLA to CRISIL Australia through a business transfer agreement.

Faster payments can signal efficient cash flow and strong supplier relationships. However, rushed payments could also indicate potential liquidity problems, highlighting the importance of analyzing payment speed in the context of overall financial health.

The stock of HDFC Life recovered partially on Wednesday, gaining 1.9% after sliding by nearly 4% the previous day following the insurer’s second quarter result announcement. The stock reported weakness despite the double digit growth in premiums and improving market share.

Markets regulator Sebi on Wednesday proposed allowing Associations of Persons (AOPs) to open demat accounts in their name to hold certain securities, excluding equity shares.

After acting as support for months, the 10 and 20-day exponential moving averages (EMAs) have recently been breached. These EMAs now pose resistance around 25,150-25,200, indicating a potential shift in momentum. This change in polarity suggests a cautious approach as the market navigates this critical juncture.

The Centre has decided to exercise the greenshoe option in the Cochin Shipyard OFS after it received bids worth over Rs 1,900 crore from institutional investors on Wednesday. Institutional investors oversubscribed the portion of shares by placing bids for 1.28 crore shares as against 59.19 lakh shares offered.

Sector-wise, buying occurred in energy, realty, and telecom stocks, while utilities, auto, and IT stocks faced selling pressure.

A recent study highlighted the risky nature of IPO investments in India. Of the 30 largest IPOs, 8 have actually resulted in losses for investors. The most striking example is Reliance Power, which launched its massive Rs 11,700 crore IPO in February 2008. Despite the initial hype, the stock has plummeted by over 80% from its issue price of Rs 450, leaving investors with significant losses. This serves as a stark reminder that even high-profile IPOs can fail to deliver on their promises.

Long unwinding occurs when traders sell positions or stocks held for a longer period, often to book profit or exit due to anticipated bearishness. Five stocks witnessed long unwinding on Wednesday.