Latest Stock Market News

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Six stocks, including Punjab National Bank, Delta Corp, L&T Finance Holdings, Bharat Heavy Electricals, Hindustan Copper and Hindustan Aeronautics Limited, are under the futures and options ban for trading on June 22, 2023. However, the stocks will be available for trading in the cash market. F&O contracts enter the ban period when open interest exceeds 95% of market-wide position limits and are only reversed if open interest falls below 80%. S&P BSE Sensex and Nifty50 ended positively on June 21, with Nifty expected to reach the milestone of 19,000 and beyond in near future.

The Indian market is expected to consolidate amid mixed global cues, as India VIX increased by 1.44%, while smaller ranges are being seen on the volatility front. The weekly maximum call OI is at 19,000 and the maximum put OI is at 18,800, suggesting a shift in the broader trading range between 18,600 to 19,000 and an immediate trading range of 18,700 to 18,950.

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The 200-day daily moving average (DMA) is used as a key indicator by traders for determining the overall trend in a particular stock.

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​So, as such also there is so much liquidity chasing stocks. These stocks had some value after the correction they had seen and that is what you have seen. I do not see any reason for these to come off sharply. From here, they should kind of be market performers.

Oil prices were steady in early trading despite a warning of possible interest rate hikes by the US Federal Reserve, which could dampen oil demand. Brent futures were down 0.1% at $77.04 a barrel and US West Texas Intermediate crude futures had slipped 0.1% to $72.48 per barrel at 0015 GMT. However, prices spiked $1 a barrel in the previous session due to expectations of a drop in biofuel blending due to global crop shortfalls driving up prices for corn and soybeans. US crude oil inventories reportedly fell about 1.2 million barrels last week.

Flip side of rally: Valuations stretched

Updated at : 2023-06-22 08:25:01

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Domestic factors like falling inflation, robust tax collection and a stable rupee have supported the rally over the last two months, brokers and analysts said.

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Indian tech unicorns such as Paytm, Zomato, and PB Fintech have rebounded from a global selloff last year and have gained between 28% to 69% this year, adding over $4.7 billion in market value. These companies have focused more on profitability, leading them to exit businesses that showed little promise and cut costs. Even though the global concerns remain, the sector has regained interest as pandemic-safe investments due to its potential in emerging technologies such as artificial intelligence. Despite their gains this year, some shares still trade below their IPO price.

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At the meeting, lenders evaluated three offers - a one-time settlement from the promoter company Reliance Power, and two separate offers from CFM Asset Reconstruction Company (ARC) and government-promoted National Asset Reconstruction Company (NARCL), the people said.

Zee settles case with Sebi, pays Rs 7 lakh

Updated at : 2023-06-22 07:25:01

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The regulator had conducted an examination in the shares of ZEE for period between January 1, 2019 to December 26, 2019 to ascertain any possible violation of its insider trading and takeover rules.

Trade Preference: Plan to standardise format

Updated at : 2023-06-22 07:25:01

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At present, clients have to give separate authorisation in case they want to trade on different stock exchange for the same segment or on different segment.

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