Latest Stock Market News

Top PMS fund manager Saurabh Mukherjea, whose firm Marcellus handles HNI money worth around Rs 10,000 crore, has picked 4 new smallcap stocks in his Little Champs portfolio. In his bank-focused Kings of Capital portfolio, Home First Finance has been replaced with MAS Financial Services while SKF India is the new stock pick in midcap-heavy Rising Giants portfolio. Mukherjea told investors in a note that positive developments in interest rate cuts by the Fed can improve consumer sentiments and benefit stocks with global market exposure.

As for Bank Nifty, RSI has come down significantly and ended near 36 levels and the next support is anticipated around 45,900 levels while resistance around 46,200 levels, Mehra opined.

Comex Gold futures were trading at $2,024.20 per troy ounce on Friday, up $2.60 or 0.13% while Silver futures were trading at $22.845, higher $0.038 or 0.170%.

Motilal Oswal Asset Management Company (MOAMC) has launched Motilal Oswal Large Cap Fund, an open-ended equity scheme predominantly investing in largecap stocks. The NFO is open for subscription till January 31. The fund aims to maintain a strategically balanced portfolio with exposure of a minimum of 80% in the Nifty 100 largecap stocks, complemented by a thoughtful 20% allocation in small-cap/Mid/IPO/Pre-IPO/Foreign Equity.

Solar Industries India Ltd., incorporated in the year 1995, is a Mid Cap company (having a market cap of Rs 61340.95 Crore) operating in Chemicals sector.

Paytm should see strong GMV growth led by the festive season and partial impact of lending business rejig after RBI measures, Jefferies said. The brokerage estimates that the company will report 34% year-on-year (YoY) growth in total revenue to Rs 2,764 crore while loss is seen narrowing down to Rs 276 crore.

As of 31-Dec-2023, promoters held 51.52 per cent stake in the company, while FIIs held 14.14 per cent and domestic institutional investors had 10.09 per cent.

A total of 22,122 shares changed hands on the counter till 10:56AM (IST)