Latest Stock Market News

Several stocks in the S&P BSE SmallCap index, including Amara Raja Batteries, Action Construction Equipment, and CEAT, reached new 52-week highs today, indicating their growth potential in the market. The Anup Engineering, Bombay Burmah Trading, Bombay Dyeing, Capacite Infraprojects, CARE Ratings, and CCL Products, reflecting their resilience and strength in the industry. These achievements were sourced from BSE at 1:50 pm and are subject to change with real-time updates.

The Board of Hindustan Zinc will meet on July 8 to approve an interim dividend for the financial year 2023-24, causing shares to rally 8%. The record date for eligibility will be July 15 and the company is expected to trade ex-dividend on or a day before this date. Hindustan Zinc has one of the highest dividend yields, around 30%, having paid four dividends in the previous year.

The buyback will be executed through a tender offer route on a proportionate basis, using the mechanism for the acquisition of shares through the stock exchange. The company will buy back about 45,93 lakh equity shares, representing 3.39% of the total equity as on March 2023.

Sun Pharma Advanced Research Company, Aegis Logistics, and Godfrey Phillips India were among the top performers on July 5, 2023, as their stock prices surpassed the 200-day Simple Moving Average (SMA) mark. Sun Pharma Advanced Research, a pharmaceutical research company, closed at Rs 218.65; Aegis Logistics at Rs 353.05; and Godfrey Phillips.

The stock quoted a 52-week high of Rs 4010.0 and a 52-week low of Rs 2616.4.

After the release of the FOMC minutes, Bitcoin saw a decline in its value. However, positive remarks from the CEO of BlackRock prevented further losses, and the cryptocurrency remained stable, Edul Patel, Co-founder and CEO at Mudrex, said.

Indian shares saw mixed performance as auto and consumer stocks gained, while high-weightage financials recorded a slide. The Nifty index ended slightly higher at 19,398.50, while the S&P BSE Sensex .

Tata Group is reportedly considering buying back a stake in its content distribution platform from Temasek Holdings as it assesses whether to postpone an IPO planned for the entertainment platform. Discussions with the Singaporean state investor, which currently holds about 20% of the network, could allow it to exit the investment.

"Investor sentiment as measured by our proprietary India Bull-Bear Index has swung from an extreme-bearish reading of 8.2% in mid-March 2023 (Contra BUY time) to an extreme bullish 95.9% reading," CLSA said in its latest strategy report on Thursday.

The Relative Strength Index of the stock stood at 52.14 on Thursday.