Latest Stock Market News

Indian benchmark equity indices advanced to fresh record highs for the third consecutive session on Wednesday.

“Intraday, US bond yields go above 5% and they have rallied back below 4.2%. I see that as one of the risks at the moment. The US economy continues to generate jobs. It is growing at a very robust nominal rate and I think the Fed is very unlikely to be changing its reference interest rates in 2024 and that means that bond yields are mispriced. They are too low.”

Promoters held 45.25 per cent stake in the company as of 30-Sep-2023, while FII and DII ownership stood at 16.28 per cent and 19.81 per cent, respectively.

On December 5, there was a notable surge in futures open interest for five stocks in the F&O pack, contributing to a total increase in open interest of over 15% as compared to the previous trade, according to stockedge.com data.

Coming to the buildup of fresh short positions, When the stock prices move downward and open interest on the counter increases, it is taken as a sign of a long build-up. The signal is considered more reliable if the volume on the counter has also seen an increase as the stock price was declining.

The stellar run in the stock price saw Suzlon finding a place in the list of 14 probable smallcap stocks that can get upgraded to midcap status by the Association of Mutual Funds in India (AMFI) in its semi-annual categorization of stocks next year.

A total of 4,657 shares changed hands on the counter till 01:44PM (IST).

“If we are looking at a 12-15% kind of an uptick in Nifty in the runup to this election, Bank Nifty can easily do better by 5 to 10 percentage points. When it comes to Bank Nifty and banking stocks, there is a massive room on the upside, though it is a little high beta. So I think it can move up by 20-25% very easily.”

Nifty Smallcap 250 has risen by 11.07%, 33.68%, and 37.31%, in the last three months, six months, and 1 year, respectively. Among the indices analysed by the brokerage, only Nifty Microcap 150 with a 10.64% uptick, delivered higher returns than Nifty Smallcap 250 last month. Nifty Next50 rose by 9.09% and Nifty 500 gained by 7.06%.