Latest Stock Market News

Investors are optimistic about the stock market as several stocks show increased delivery percentages and strong trading volumes. NHPC, Union Bank of India, Vedanta, Lupin, Devyani International, Indian Bank, and ACC have all experienced rising delivery percentages compared to the previous day and month, along with robust trading volumes. This reflects growing investor enthusiasm and confidence in these stocks and suggests positive sentiment towards their future prospects.

​While the Sensex scaled the 64,000 mark, the Nifty surpassed 19,000 for the first time

The Indian market soared to a new all-time high, with the S&P BSE Sensex surpassing 64,000 and the Nifty50 reaching 19,011. Sectors such as capital goods, power, healthcare, auto, and oil & gas witnessed buying activity. Stocks like Tata Motors, BLS International, and JBM Auto gained significantly, hitting fresh 52-week highs. Analysts suggest that while Tata Motors may have experienced a base breakout, better opportunities may be found elsewhere due to the absence of significant earnings growth triggers.

Amara Raja Batteries, Eureka Forbes, and Infibeam Avenues have shown Doji and Near Doji patterns, indicating market indecision. Amara Raja Batteries may experience a trend reversal, while investors examining Eureka Forbes should consider financials and market conditions. Infibeam Avenues has potential for a Near Doji pattern. Monitoring stock prices and market sentiment can provide insights into future performance.

The Nifty has reached a fresh lifetime high above the 19,000 level, forming a long bull candle on the daily chart. The positive chart pattern indicates a higher top formation, but the higher top reversal has not been confirmed. The support levels are at 18,888 and 18,777, while resistance levels are at 19,200 and 19,250. Volatility is holding below 11, supporting bullish sentiment. Option data suggests a trading range between 18,600 and 19,300. Traders are advised to stay upbeat and focus on beaten-down sectors.

The Nifty Pharma index closed 1.46 per cent up at 13622.75.

The funds will be raised subject to receiving all the statutory approvals, the company said in an exchange filing​​.

Benchmark indices BSE Sensex and Nifty 50 reached new lifetime highs, resulting in positive market sentiments. Nearly 40 Nifty 500 stocks reached their 52-week highs. However, there are some stocks trading at significant discounts from their 52-week highs. These include Balaji Amines, Bank of India, Brightcom Group, Campus Activewear, Central Bank of India, City Union Bank, Crompton Greaves Consumer Electricals Ltd., Deepak Fertilisers & Petrochemicals Corporation Ltd., Delhivery, and EID Parry (India). Investors should evaluate the financials and growth prospects of these stocks.

Despite Nifty crossing the 19,000 mark for the first time with $10 billion in foreign institutional investor inflows, global brokerage firm CLSA remains cautious on Indian equities. According to CLSA, the reasons for their cautious stance include rich valuations, margin erosion, overly optimistic earnings growth expectations, the Reserve Bank of India lagging behind other emerging market central banks in policy easing, and overbought conditions in the market. CLSA believes that other emerging markets such as Brazil, Mexico, and Indonesia are better positioned for policy easing.

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