Latest Stock Market News

On October 03, the closing prices of four stocks dropped by more than 2.5% relative to the VWAP, and a shift below the VWAP suggests a potential bearish trend.

Gold and silver December futures showed minor gains at MCX, with gold at Rs 76,357 per 10 grams and silver at Rs 93,130/kg. Market movements were influenced by geopolitical tensions in the Middle East, rising crude prices, and upcoming U.S. job data. Analysts suggest buying on dips, with set support and resistance levels.

Indian government bond yields increased, with the 10-year yield reaching a three-week high. The rise was influenced by higher oil prices and U.S. yields due to Middle East tensions. The government plans to raise 390 billion rupees through a bond auction. Additional rate cuts by the Reserve Bank of India and the U.S. Federal Reserve are anticipated.

So, it is not one data point, several data points are pointing towards a slowing economy and as such, if it slows, then whether that leads to an uptick in the NPA levels also or not will be a critical element to watch in the results season this time.

Indian economy is set for a positive trajectory over the next 20 years due to favorable demographics. However, investors should remain vigilant against overpricing and external financial influences, particularly from China and global liquidity flows. Learning from past complacency, strategic timing and careful investment will be crucial for sustained growth.

Divyadhan Recycling Industries shares debut on NSE SME at Rs 84, a 31.25% premium over the issue price of Rs 64. The IPO was subscribed 41 times, with high interest from non-institutional investors. The company plans to use Rs 17.03 crore for plant and machinery, with some funds set aside for general corporate purposes.

Axis Securities has overweight call on Bharti Airtel with a target price of Rs 1,900. The current market price of Bharti Airtel is Rs 1,669.8.

Axis Securities is optimistic about nine large-cap stocks across sectors like banking, financials, telecom, and IT, forecasting potential gains of up to 30%.

The stock traded at a P/E multiple of 10.31, while the price-to-book value ratio stood at 1.34.

A total of 2,008 shares changed hands on the counter till 11:00AM (IST).