Latest Stock Market News

The key technical indicators are in favor of the bulls on the long-term as well as the short-term timeframe charts. The stock will explore uncharted territory after a wide range breakout which could take it towards Rs1,900-2000, zone. In case of any decline, the stock may find support around Rs 1640-1660 levels being the band of averages.

We have hit new highs. There was some nervousness before it actually hit a new high. I think the primary reason was the ‘monsoon’. Now with the advent and decent spread, markets seem to have shaken that worry.

There are certain sectors that have just experienced an inflexion point after a long period of headwinds where growth may continue going forward.

Investors expect stocks to move increasingly out of sync as shown by the Cboe 3-Month Implied Correlation Index, which measures the 3-month expected average correlation across the top 50 value-weighted S&P 500 stocks. The Index touched a record low of 17.59 on Wednesday.

The dollar will not give up those recent gains anytime soon, according to the June 30-July 5 poll of 80 FX strategists despite some major central banks, like the European Central Bank and Bank of England, set to keep raising rates for longer.

Golden Cross is an important technical indicator of bullishness. It occurs when the short-term moving average crosses over the major long-term moving average on the upside.

Almost $350 billion was raised from green bond sales and loan arrangements in the first half of this year, compared with less than $235 billion of oil, gas and coal-related financing, according to data compiled by Bloomberg. The ratio was roughly $300 billion green versus $315 billion fossil fuels in the same period last year.

Foreign portfolio investors were net buyers for the sixth straight day at Rs 1,603 crore. DIIs sold shares worth Rs 439 crore on Wednesday.

“One has to see how Eicher reacts, whether it cuts down prices and tries to compete with them. That is what the market is worried about. Obviously, the volumes are going to get impacted. That is the way the market is cutting at the moment.”

Adani Wilmar has delivered strong double-digit volume growth at 25% for the first quarter ended June. However, sales declined 15%, mainly due to sharp drop in edible oil prices.