Latest Stock Market News

Shares of defense companies were up on Tuesday, with Premier Explosives leading the rally due to its robust order book and healthy pipeline. Other defense companies that saw gains were Bharat Dynamics, Zen Technologies, and Mazagon Dock Shipbuilders.

The IPO of Netweb comprises a fresh issue of equity shares up to Rs 206 crore and an offer-for-sale (OFS) of up to 8.5 million equity shares by promoter and selling shareholders. The price band for the issue will be announced soon.

On July 11, 2023, several Indian stocks demonstrated noteworthy growth by crossing their 200 Simple Moving Average (SMA), a valuable indicator that confirms long-term trends and identifies support and resistance levels. Pokarna, Indostar Capital Finance, Aegis Logistics, Rupa & Company, TCPL Packaging

Several BSE MidCap stocks, including ABB India, Bharat Electronics, Polycab India, and Muthoot Finance, reached new 52-week highs, demonstrating strong market momentum. Power Finance Corporation, CG Power and Industrial Solutions, Samvardhana Motherson International, and REC also recorded notable achievements in share price performance.

Nifty stays range-bound for sixth straight session. Eight of the 13 major sectoral indices logged gains, with auto and fast moving consumer goods (FMCG) indices adding over 1.2% each after several brokerages, including HSBC, Citi and Jefferies, reiterated their bullish outlook on earnings growth in the sectors.

​​As both these risks are receding and as you are seeing that the earnings are stabilizing, they are not accelerating yet but as they are stabilizing and in India, earnings are still growing, correct?

​​So the next quarter which is the July, August, September is where you could see some impact of inflation. But is it sufficient enough for RBI to hike interest rates? Well, the answer still seems to be in the negative. We are in for an extended pause.

The Nifty Auto index closed 1.39 per cent up at 15617.45.

The Relative Strength Index of the stock stood at 45.48 on Tuesday.

Several BSE SmallCap stocks reached new 52-week highs on July 11, including Apollo Tyres, Bombay Burmah Trading Corp, Kalyan Jewellers, IIFL Finance, Manappuram Finance, KIMS Hospitals, CCL Products, Chalet Hotels, and Mazagon Dock Shipbuilders. The companies cover a diverse range of industries, from jewellery and hospitality