Latest Stock Market News

This rally has all the characteristics of an anti-consensus rally. It has come in the face of an adverse policy backdrop globally and soft growth outlook in the developed markets.

Bajaj Finance received a buy rating from BofA Securities, with a target price of Rs 8700. The firm recorded strong growth in core asset under management and is on track to exceed its customer acquisition guidance. Avenue Supermarts was given an Equal-Weight rating by Morgan Stanley, with a target price of Rs 3786. Marico and Dabur India both received an overweight rating from Morgan Stanley, with target prices of Rs 611 and Rs 606 respectively. Morgan Stanley expects both companies to report improved year-on-year growth.

​And these few cases are very bad in terms of what has happened, but that is not a stroke of every company out there. There are incredibly well-managed companies that have changed, revolutionised the way we do many things, so I am for the start-ups.

​This indicates a bullish sentiment in the market, as the average traded and delivered quantity for 5 days along with the cumulative open interest, and the price for the stocks have increased.​

Senco Gold, a leading jewellery player in eastern India, has raised INR 121 crore in the anchor round ahead of its initial public offering (IPO). The company is offering shares in the price range of INR 301-317 and has received positive ratings from analysts. Senco Gold has an extensive retail network of 136 showrooms and specializes in the sale of gold and diamonds. The IPO consists of a mix of fresh issue and offer for sale (OFS) segments, with the proceeds being used for working capital and general corporate purposes.

From the Sensex pack, Bajaj Finance and Bajaj Finserv were the top gainers, rising 7.3% and 4.6%, respectively. Titan, L&T, Asian Paints, Wipro, TCS, IndusInd Bank and Asian Paints also clocked gains in opening deals. On the other hand, Bharti Airtel, NTPC, Axis Bank, Tata Steel, and Kotak Bank traded with cuts.

Nasdaq has resubmitted an application to the U.S. Securities and Exchange Commission (SEC) to list a bitcoin exchange-traded fund (ETF) offered by BlackRock. In the filing, it was stated that Coinbase will provide market surveillance for the proposed ETF. This move follows concerns raised by the SEC about the initial filings, which it deemed unclear and incomplete. The digital asset space is striving to recover after a turbulent 2022 that saw various crypto ventures fail. The SEC recently sued Coinbase for not registering as an exchange. The SEC has previously rejected multiple spot bitcoin ETF applications.

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.

Indian benchmark indices, Sensex and Nifty, started the week strong, with Sensex crossing 65,000 for the first time and Nifty reaching a record high of 19,322. RIL rose 2.4%, BSE gained 9.77%, and Bandhan Bank fell 2.8%. Technical and derivatives analyst Riches Vanara recommends buying RIL for targets of 2750 and 2850, BSE for levels of 695 and 725, and selling Bandhan Bank for targets of 225 and 215.

Tube Investments arm TI Clean Mobility has entered into an agreement with Anand Jayachandran for pursuing electric small commercial vehicle business through a subsidiary to be incorporated by TI Clean Mobility.