Latest Stock Market News

AT-1 bonds are perpetual debt instruments issued by banks to raise money and build up their core equity capital. A perpetual instrument is one with no maturity date, implying that the issuer – a bank in this case – does not pay the principal amount back to investors but makes periodic interest payments throughout the life of the bond.

“Probably shoes are better than real estate; but to be fair, there is visibility in the shoes and consumer demand sector and there are a lot more brands. In real estate, in the near term, we will see a lot more. We will see a lot of activity and the way the accounting goes, the results for real estate companies will probably be good for next year.”

The near-term trend of Nifty continues to be positive. Having placed at the crucial overhead resistance around 19,550-19,600 levels, there is a possibility of some more consolidation or minor weakness in the short term before showing any decisive upside breakout of the resistance. Further weakness from here could find support around 19,300-19,250 levels, said Nagaraj Shetti of HDFC Securities.

Among Sensex stocks, Bajaj Finance and Infosys were the top laggards, falling over 1% each. Tech Mahindra, ICICI Bank, Nestle, and TCS also ended with cuts, while M&M, JSW Steel, NTPC, Power Grid Corp, and IndusInd bank closed with gains.

During the Muhurat trade, as many as 80% of the stocks advanced, 16% declined and 3% remained unchanged. The advance-decline ratio stood at 4.90, staying above 3 for the sixth consecutive year.

“It is very difficult to say that whether it is a midcap or sentimentally by numbers it might look like a largecap but within the domestic consumption space, organised retail is a very good space where we have a decent allocation and organised retail shows no impact of what is happening outside India.”

The rupee, on Friday, hit a lifetime low of 83.42, affected by a technical system outage. The Reserve Bank of India (RBI) had stepped in to stem the fall, according to traders.

The stock listed at Rs 792, which is the same as issue price. However, there was some buying interest in the counter post the listing as stock rose about 12% intraday.

For more such web stories click on the ET