Latest Stock Market News

Reliance Power, Tata Teleservices, and Equitas Small Finance Bank were among the BSE smallcap stocks that saw increased delivery percentages and trading volumes, indicating growing investor interest. Reliance Power experienced a delivery percentage of 23.3%, Tata Teleservices recorded a delivery percentage of 50%, and Equitas Small Finance Bank saw a delivery percentage of 74.5%. Olectra Greentech and Tanla Platforms also saw rising delivery percentages. This surge in delivery percentage suggests a higher level of investor conviction and long-term buying interest in these companies, reflecting increased investor confidence and signalling a favourable sentiment towards them.

Andrew Holland expects earnings to improve in the second half of the year for the Indian market, boosted by decreased input prices for raw materials, metals, and oil, along with increased government and private spending for the capital expenditure. He is optimistic about the banking sector and believes the banking index will take the lead in pushing the financial sector higher in India. While he does not recommend buying NBFCs, he sees potential in the premiumisation of beverage consumption and is keen on investing in the electronics industry.

Mid and small-cap indices hit new 52-week high on the back of low inflation and lower raw material prices triggered by a decline in crude oil prices. The Nifty Midcap100 index surged 0.71%, while the Nifty smallcap100 index rose 0.78%. Since April, the Nifty Midcap100 gained 12.5%, while Smallcap100 advanced 20%, attributed to better domestic macroeconomic outlook and improving profitability. However, valuations in most cases have gone to unrealistic levels, and consumption demand remains sluggish. According to Kotak Institutional Equities, BFSI stocks now offer a decent reward-risk balance on the CMP-FV equation.

The central government will sell 92.44 lakh shares of Coal India, representing 0.15 per cent of the total equity share of the company, to its eligible employees via Offer For Sale route, the state-owned company informed stock exchanges on Monday.

Promoters held 0.0 per cent stake in the company as of 31-Mar-2023, while FII and DII ownership stood at 15.21 per cent and 4.59 per cent, respectively.

The National Stock Exchange has the potential to become a multibagger stock, boasting a near-monopoly status, 35% plus CAGR in revenues and clean promoters at the helm, says Prabhudas Lilladher. The exchange’s PE ratio stands at 22, versus 50 times for MCX and 37 times for BSE Limited. While the initial public offering remains elusive, the public issue could be launched next year. However, options trading could pose a risk, with close to INR51,000 crore in government revenue generated by the sector. Delayed IPO and a pending Supreme Court case against the NSE are also risks.

I do not have confirmed breakup but many of the Indian mutual funds have participated and there are also some FII who have participated.

The stock quoted a 52-week high of Rs 1063.45 and a 52-week low of Rs 737.6.

IT services company Wipro, IT consulting firm TCS, and IT services provider Infosys are among the stocks on the Nifty50 that are nearing their 52-week lows, according to data from Trendlyne. Zee Entertainment Enterprises, a media and entertainment company, and engineering firm Voltas are also close to their lows. Despite concerns among some investors, this presents opportunities for others looking to invest in undervalued assets in the market. These companies have strong market presences and diversified portfolios, making them attractive investments for those seeking long-term growth potential.

Bitcoin, Ethereum and Binance Coin were traded with cuts, while XRP, Dogecoin and Shiba Inu traded with gains. Bitcoin fell 0.43% to $26,431 and its volume decreased by 1.91% to $9.3 billion in the last 24 hours. The global cryptocurrency market cap was trading around $1.07 trillion, falling 0.35% in the last 24 hours. Despite the rate hike pause by the US Fed, which failed to cheer the market, the market cap of Bitcoin remained at around $512 billion. Major market oscillators point toward a Neutral sentiment, according to experts.