Latest Stock Market News

The BSE MidCap index stocks reached new 52-week highs, reflecting robust market performance and investor optimism. Alkem Laboratories, Aurobindo Pharma, Lupin, and others emerged as the frontrunners, making significant strides in their respective industries.

Institutional and non-institutional investors led the bidding as both categories were subscribed 21 and 31 times, respectively. Meanwhile, the part reserved for retail investors was subscribed 8.3 times so far on Day 3.

A total of 2,090,346 shares changed hands on the counter till 02:10PM (IST).

In this informative article, we delve into the world of stock market indicators, focusing on the Relative Strength Index (RSI). We discuss the significance of RSI in assessing stock movement and identify ten stocks that have recently witnessed a decline in their RSI. As an essential tool for potential investors, we analyze the RSI data of these stocks to provide valuable insights for decision-making.

"Investors who are looking for short-term gains may book profits at this level. However, aggressive investors who believe in the long-term prospects of the company may hold the stock with a stop loss at around the issue price," said Anubhuti Mishra, Equity Research Analyst at Swastika Investmart.

​This means the average traded quantity of the stock for 5 days along with its cumulative open interest has increased whereas the price has decreased. Here are 6 such stocks displaying this trend:​

A bulk of the investment (Rs 11,514 crore) went into financial services, which have been a favourite of all big boys of Dalal Street amid solid credit growth. However, the pace of inflow in financial stocks slowed down compared to June when FIIs invested over 19,000 crore in the sector. Capital goods continued to be in the list of top FII favourites as foreign investors spent Rs 5,633 crore in the sector.

OHB jumped 33% after the German space company announced a voluntary public tender offer by US investment company KKR for its outstanding shares.

Total sales stood at just over 400 billion riyals (about $106 billion), down from 562 billion riyals ($150 billion in the second quarter of 2022. Aramco is one of the biggest companies in the world, and Saudi Arabia is looking to oil revenues to fund ambitious plans to overhaul its economy. The company reported a profit of over $160 billion in 2022, the largest ever recorded by a publicly traded firm.

The total number of shares available for subscription stood at 14,650,957, and the share bids received around this time stood at 17,847,340, according to information available on the BSE.