Latest Stock Market News

Delta Corp share Price: Delta Corp shares surged up to 9.7% after announcing the demerger of its real estate and hospitality businesses. The company will create two separate listed entities, one focusing on gaming and the other on hospitality and real estate. Shareholders will receive one new share for every existing share held.

Gold prices have been surging for a week now post the US Fed cut rates by 50 bps, going up by Rs 2,100/ 10 gram.

On September 24, the closing prices of four stocks from Nifty500 dropped by more than 3% relative to the VWAP, and a shift below the VWAP suggests a potential bearish trend.

Benchmark Sensex reached 85,000 and Nifty crossed 26,000 for the first time before closing flat in a volatile session. Power Grid rose 2.77%, IEX declined 11.5%, and Tech Mahindra increased nearly 2%. Analyst Riyank Arora provides recommendations for these stocks as the market resumes trading.

On Wednesday, five stocks are subject to a F&O trade ban: Aditya Birla Fashion and Retail (ABFRL), Granules India, Hindustan Copper, Vodafone Idea, and Indian Energy Exchange (IEX).

Rajat Sharma, Founder & CEO of Sana Securities, advises caution in the overheated energy and energy transition sectors. He recommends considering oil marketing companies like HPCL, BPCL, and GAIL due to favorable oil prices. Sharma believes the power sector in India will perform well but suggests waiting for a market correction before investing.

The IPO of KRN Heat Exchanger opened for subscription on Wednesday and will be available until September 27. The company plans to use the proceeds to invest in its subsidiary, KRN HVAC Products, for a new manufacturing facility in Neemrana, Rajasthan, with the remaining funds allocated for general corporate purposes.

The number of stocks on the NSE Nifty 200 index with a consensus ‘buy’ rating totaled 61 as of Tuesday, the lowest in at least a decade, data analyzed by Bloomberg show. LIC Housing Finance Ltd., Sun TV Network Ltd. and Dr. Lal PathLabs Ltd. are among stocks that saw multiple downgrades this quarter, putting their average analyst rating at ‘hold’.

In the options market, the highest Call open interest (OI) is at the 27,000 strike, followed by the 26,500 strike. Conversely, the maximum Put OI is at the 25,000 strike and then at the 24,500 strike. Call writing is noted at the 26,000 and 27,000 strikes, while Put writing is observed at the 25,900 and 26,000 strikes.

RBI Governor Shaktikanta Das highlighted the challenges posed by geopolitical disturbances and economic fragmentations, emphasizing the need for central banks to adapt swiftly. He also discussed the impact of fintech innovations and advancements in AI on financial stability, stressing the importance of regulation, data security, and ethical considerations.