Latest Stock Market News

The indices are in the overbought zone and historical data suggests that whenever such overbought zones have been approached, there has been a correction. Maybe if we were to witness a corrective dip in this current scenario, it would be easier to define your risk-reward ratio.

“I feel that the largecap IT names should be back in momentum. Infy, Wipro, TCS, HCL Tech, all four should be back in the momentum.

From a technical standpoint, the previous week has created a gap. In the process, the index has shifted its support zones higher in the range of 20,450-20,550 levels from 20,000. The Nifty has also closed above its upper Bollinger band. Even if there is a temporary pullback inside the band, the markets may further their uptrend even with the possibilities of some consolidation at current levels.

India Shelter Finance IPO comprises fresh equity issue worth Rs 800 crore along with an offer for sale (OFS) of 400 crore. The price band of this public issue is fixed at Rs 469-493, and at the upper end, the company plans to raise Rs 1200 crore. ICICI Securities, Citigroup Global Markets, Kotak Mahindra Capital Company and Ambit Pvt Ltd are the book running lead managers for the IPO.

In the largecap segment, 15 companies witnessed significant block deals on the screen which were worth Rs 12,612 crore led by Reliance Industries (RIL) with a 12 block count, totalling to Rs 2,874 crore. The next in line were Bharti Airtel (Rs 1,769 crore), HDFC Bank (Rs 1,757 crore), Zomato (Rs 1,208 crore), Adani Total Gas (Rs 1,019 crore), Tube Investments (Rs 944 crore), ICICI Prudential (Rs 705 crore) and ICICI Bank (Rs 589 crore).

Even as the S&P BSE Sensex hit a new lifetime high of 69,893.8 and ended with weekly gains of over 2%, the broader BSE500 had no dearth of action.

“Going forward, 21000 is likely to act as a crucial level for the Nifty as call writers have built their maximum positions at that strike price. A resumption of the current uptrend might be seen above 21000, with the potential to reach 21550.”

Options trading involves the strategic buying and selling of contracts. The buyer has a choice, not an obligation, to buy or sell the underlying asset, while the seller (or writer) must honour the contract if exercised.

“Yoga began as a fun or not-so-serious activity after my post-graduation but it has now become a thrice-weekly ritual. I use an app called Asana Rebel for yogas ranging from restorative to dynamic.”

“We believe that the incumbent government might continue with regards to the general election in 2024 in all probability and that is a base case scenario. There could be a little bit of volatility but that said, the excitement in India and its economy is primarily because of its unique advantages of demographics, its cost of manufacturing in terms of competitiveness and it is also becoming an export story and is not just limited to local consumption.”