Latest Stock Market News

“This is not the time to say it is the top and therefore we should take profits. I do not think it is the bottom either. It is just business as usual. We are just cooling off after a pretty strong run in the last six months. So, welcome to it, I think some shake-out is necessary, it is normal for markets.”

From the Sensex pack, SBI, Bajaj Finserv, IndusInd Bank, Bajaj Finance, Maruti, and L&T opened with gains, while Power Grid, Wipro, HUL, Titan, and Asian Paints opened in the red.

The MCX October gold futures were trading down by Rs 76 or 0.12% from the Thursday closing price at Rs 58,750 per 10 gram on the MCX while the December Silver futures were trading at Rs 73,010 per kg, lower by Rs 58 or 0.08%.

Arm has drawn caution from analysts with Bernstein earlier this week initiating coverage with an underperform rating, saying it’s too soon to declare the company an AI winner while others questioned a now $53.5 billion valuation. For Instacart, Needham flagged concerns about competition when starting coverage with a lukewarm hold rating.

"Many of the infra stocks have done well already and they are likely to do well given record order books. Many companies like L&T are not only going to be getting strong orders domestically but also globally. So, there is a strong story in the investment theme. But in a deep market correction, all stocks correct. So, I think we will see some correction in these stocks also and we will use that opportunity to buy."

“Even though the midcap rally has been quite spectacular, I still think there is a lot of steam left within some of the midcaps. We are very interested in the heavy engineering space. We are interested in companies that do B2B services or B2B products. In the heavy engineering spaces, we think a lot more industrial capex will come to India. ”

UBS maintained a buy rating on IndusInd Bank with a target of Rs 1800. The company is on track to improve earnings quality.

Tata Consumer Products, incorporated in the year 1962, is a Large Cap company (having a market cap of Rs 81237.42 Crore) operating in FMCG sector.