Latest Stock Market News

“I think blending three – some risk-on, some momentum and some winning aspects of the businesses – in the portfolio would be a great idea and then take a cautious view of names which are excessively valued. So some cautions definitely required not buying all that have run up but taking a balanced view in this market would help protect people from any major hard landings.”

Largecaps pushed the benchmarks to yet another record high as Nifty conquered the 21,355.65 level. All five top stocks in the Nifty were IT counters with HCL Technologies, LTIMindtree, Infosys, Tech Mahindra, and Tata Consultancy Services (TCS) gaining between 4.7% and 3.89%. Barring Infosys, the rest hit their 52-week highs.

“Every quarter, we revise our growth. I have been very closely observing the forecast which we have made and we see that around 10% growth on IT services spending, end user spending is going to happen. That is going to remain consistent for the next two to three years. So we see a very positive mood at this point in time from IT services.”

According to market sources, DOMS shares are fetching a premium of Rs 525 in the grey market. The price band of the public issue is fixed at Rs 750-790, and at the upper end, the company plans to raise Rs 1,200 crore.

The crypto market performed sideways with an upward bias in the last 24 hours. BTC is back to trading around $43k levels, while ETH is trading around $2.3k. This market movement can be attributed to the Feds as they signaled interest rate cuts for next year, said Parth Chaturvedi, Investments Lead at CoinSwitch Ventures.

A total of 7,065 shares changed hands on the counter till 01:45PM (IST)

ICICI Prudential Life Insurance saw stock pricing dipping up by 2.69% and the open interest saw an increase of 14.35%.

Muthoot Microfin IPO which will hit the market on December 18 with a price band of Rs 277 to Rs 291 per equity share comprises a fresh issue of equity shares aggregating to Rs 760 crore and an offer-for-sale (OFS) aggregating to Rs 200 crore by the selling shareholders.

The death cross appears on a chart when a stock’s short-term simple moving average (SMA) crosses below its long-term moving average on the downside.