Latest Stock Market News

Nifty has been trading sideways between 25,200 and 25,800, closing below 25K on Friday. Shrey Jain of SAS Online highlights downside support at 24,800 and an oversold put-call ratio, suggesting a range-bound movement. He recommends deploying a long calendar put strategy, expecting the Nifty to consolidate within an optimal range of 24,750 to 25,450 during the upcoming expiry.

When the closing price rises above the VWAP, it signifies that the closing price is higher than the average price at which it was traded throughout the day, with the average being weighted by trading volume.

The Indian market might open higher but may lose momentum amidst mixed global cues. Nifty is expected to trade within a broad range of 24,500 to 25,500 zones. Specific stock recommendations for short-term trades include Samvardhana Motherson, Exide Industries, Dixon Technologies, Hindalco, L&T, and Tata Chemicals.

PNC Infratech shares are expected to remain in the spotlight on Monday after receiving an order worth Rs 2,039.61 crore from CIDCO. The company received the work order for the integrated infrastructure development of roads, construction of various major and minor structures, and allied electrical works under the NAINA Project, with a completion period of 1,460 days.

Wipro shares are anticipated to gain attention on Monday after the company announced its board will consider issuing bonus shares alongside its Q2 2024 financial results. Bonus shares, which are additional fully paid shares given to existing shareholders, aim to enhance stock liquidity and reduce share price, making them more accessible for investors without any extra cost.

Gold prices have surged by Rs 1,300 per 10 gram in the last 3 days, while the prices of silver prices are up by Rs 2,100/kg.

Indian equity indices opened higher on Monday, with the Sensex gaining 315 points and Nifty50 rising 93 points as investors awaited domestic inflation data and earnings reports from Reliance Industries and HCL Tech. Wipro shares surged over 3% on news of a potential bonus share issue.