Latest Stock Market News

The Nasdaq 100 is heading for its best H1 ever, with a surge of 36% so far this year. But Wall Street is concerned that the rally may be derailed by the Federal Reserve tightening its policy. Despite recession fears and bank failures, investors have remained optimistic as the US economy shows resilience and the earnings outlook improves. However, analysts warn that the rally in tech stocks appears overblown due to rich valuations and only a few high-flying companies such as Apple, Microsoft and Nvidia. Historically, a strong first-half for the stock market has been a good omen for the rest of the year.

In its filing to the exchanges on Monday ahead of market opening hours, the lender said that the proposal to delist ICICI Securities will be in accordance with Sebi (Delisting) regulations.

Equity benchmarks ended the last week with a bearish trend in global equities and concerns over rate hikes by central banks, causing the 30-share BSE Sensex to fall 259 points to settle at 62,979, while Nifty was also down 105 points at 18,665. IndusInd Bank rose by 2.88%, and Hindalco was down 3% while APL Apollo Tubes’ shares declined 3.45%. Investors could consider short-term selling pressure if IndusInd Bank’s stock price dips below Rs.1,250; Hindalco has to overcome its 200-DMA at Rs.430 to gain significant strength, while on BPCL a resistance area of Rs.370-380 needs to be overcome.

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.

Multiple attempts to push beyond the record peak, turned to be futile, with the rejection trades thereof ended up with sharp falls on the last two days of the week. The 200+ points fall from the top has forced a close, slightly below the 20 day moving average, which is the first time since late March, during which the 2000 point rally has been in play.

​For Tata Largecap fund, an overweight exposure to financial services and capital goods contributed to the outperformance, says Chandraprakash Padiyar, senior fund manager - equity at the fund house.

One can expect markets to consolidate for some time here, which can mean interim corrections of 5-7% on Nifty. However, we remain overall quite bullish with a 12-month plus perspective. We believe the next decade is of India.

GoFirst’s creditors have approved a business plan for revival of the airline. As part of the business plan, Go First’s RP has sought Rs 425 crore of interim finance. The airline, which filed for insolvency last month, told the regulator that it requires Rs 400 crore to resume flying

Well, I think it is great news that these block deals are happening and I am not too perturbed about exits which are taking place because clearly I think the stock is going into stronger hands for one.

SBI has actually broken down. It should not have traded below 563 and it has traded below it. And it was pretty obvious to me that the move from the March lows was only a corrective move.