Latest Stock Market News

The Indian rupee gave up initial gains to settle marginally weaker on Wednesday, as hedging interest from importers and the maturity of positions in the non-deliverable forwards market boosted demand for the dollar.

Gold prices declined Rs 340 to Rs 87,960 per 10 grams in the national capital on Wednesday amid weak global trends, according to All India Sarafa Association.

In December, 5.4 million new SIP accounts were opened, while 4.4 million were closed.

Kotak noted that taxes and trading costs have eroded retail returns, with weakening trailing returns putting the market “on thin ice.” While Nifty 50 posted a modest 6% gain over 12 months, it saw declines of 5% in six months and 4% in three months. Midcap and smallcap indices performed worse, dropping 11% and 13% over six months, respectively.

BNP Paribas forecasts a slowdown in earnings growth for FY25 as multiple sectors encounter headwinds.

India s smallcap stocks entered bear market territory after renowned investor S Naren warned against investing in them. The smallcap index fell around 7% over three days, reflecting broader market concerns driven by global trade tensions, high valuations, and declining corporate earnings.

MSCI’s February 2025 reshuffling brings key changes: Hyundai Motor India is added, Adani Green Energy is removed. IndusInd Bank, PB Fintech, and Torrent Pharma gain weight, attracting inflows, while Reliance, ICICI, and HDFC Bank face reductions.

ITC Hotels: Jefferies initiated coverage on ITC Hotels (ITCH) with a ‘buy’ rating and a target price of Rs 240, citing strong growth potential. It projects a 16%/19% CAGR in EBITDA/PAT over FY24-FY27e and expects occupancy in India to rise to 75% by FY27. ITCH’s debt-free balance sheet and strategic expansion plans support long-term growth, despite short-term challenges in greenfield projects.

Short covering leads to a decline in open interest, potentially pushing the stock price higher.

crypto assets: Key altcoins had a mixed start this year, with Ethereum underperforming, dropping nearly 20%. Bitcoin dominance remains strong above 61%. However, based on market cycles and seasonality, a reversal is expected soon. Once Bitcoin crosses the $100,000 mark again, it could reignite momentum in the altcoin market, driving broader crypto gains.