Latest Stock Market News

On the technical placement of the yellow metal, Neha Qureshi, Senior Technical & Derivative Analyst at Anand Rathi Commodities & Currencies said that gold on the 4-hour timeframe showed a descending triangle pattern and if it breaks below Rs 59,266, it could further drop to Rs 58,850.

The company is also implementing efforts for bed additions to boost growth momentum over the next three to five years, said the note. It continues to evaluate the inorganic opportunities as well.

Inflation will take centre-stage during the 3-day panel discussion in the backdrop of the recent surge in vegetable prices, particularly tomatoes. Since June, prices of tomatoes have increased by more than 5 times.

Adani Ports reported a consolidated net profit of Rs 2,115 crore for the quarter ended June 2023, which is higher by 83% compared with Rs 1,158 crore in the same quarter last year. Revenue from operations jumped 24% year-on-year (YoY) to Rs 6,248 crore in the June quarter. The same stood at Rs 5,058 crore in the same quarter last year.

​So that is what is keeping the commodity prices a little bit depressed. On the macroeconomic side, in the second half of this year, we are going to have to see if the Chinese economy can pick back up.

"The next few quarters may certainly be very good for pharma companies. But these are no longer the secular growth stories which we have pursued back in the 2000 or 2010 era, when companies like Sun Pharma, Lupin, Dr. Reddy, Cipla were easily growing at 20% plus," says Dipan Mehta.

A possible stake sale of its 44% holding in Adani Wilmar will help Adani Group free up capital for its core businesses, Bloomberg reported last night saying that Wilmar, the Singapore-headquartered food conglomerate co-founded by billionaire Kuok Khoon Hong in 1991, could decide to retain its stake in the business.

On the technical charts, the RSI of the stock stood at 56.27.

​ This is a bearish indicator that shows the futures OI has increased while the price has decreased. ​

The U.S. dollar index - which measures the currency against the euro, yen and four other counterparts - was little changed at 102.50 in the Asian morning, following a 0.47% rise in the previous session.