Latest Stock Market News

Kotak Institutional Equities expects a 12% year-on-year (YoY) growth in the cumulative profit of Nifty 50 companies, and Motilal Oswal Financial Services has pegged it at 10%.

Milind Karmarkar says: “In mid and especially smallcaps, there are excesses. It may continue for a long time, because I have learned that during the software boom, when you think there are excesses, the market, the prices can grow four times from there. As a fund manager, I would not get into that at all.”

Manav Modi says: "According to a recently released annual report, gold by the end of the year could test levels of $2,260 per troy ounce on the COMEX and Rs 69,000 per 10 gram on domestic bourses. For silver also, its demand as an industrial metal has increased in the past few years and hence any uptick in overall infrastructure or growth could benefit metals prices as well."

"RSI trending up" means that the Relative Strength Index (RSI) values are increasing, suggesting strengthening momentum in the price of the stock.

A White Marubozu is a bullish candlestick pattern in technical analysis. It occurs when the opening price is the lowest for a given period, and the closing price is the highest.

Arpit Beriwal says: “On a weekly scale, we have seen a good buying interest from lower levels and on the daily scale, it is holding its gains. So, it is ready to hit a new lifetime high towards Rs 750-760 levels. Within IT pack, our top two bets are from midcap space, Birlasoft and LTTS.”

Vedanta Resources has launched a liability management exercise to restructure repayments of about $3.8 billion on bonds that are set to mature over the next three years after it secured funds from a bank and private credit funds.

The breakout has opened room for the stock to head towards 1700 levels in the next 2-3 months, suggest experts.

At the interbank foreign exchange, the domestic currency opened at 83.13 and slipped to 83.17 against the greenback, down 4 paise from its previous close.