Latest Stock Market News

Nifty broke out above the 18,800 level and is close to surpassing the peak of 18,887 levels, accompanied by a long positive candle with minor upper shadow on the daily charts. The MACD showed a bullish crossover with a resistance level of 19,000 predicted to be on the horizon. Although the RSI and Nifty can keep the index strong, the moving averages are below the current index value, which reinforces a bullish outlook. Finally, the writers of call options at the 18,800 strike were seen closing their positions, signaling positive sentiment.

The bullish harami cross is a technical analysis candlestick pattern that can indicate a potential reversal in a downtrend and provide valuable insights for investors seeking to make informed decisions. This pattern features a large bearish candle followed by a small bullish candle completely engulfed by the previous bearish candle, signifying a shift in momentum. Stocks such as eClerx Services Ltd., Sharda Cropchem Ltd., Go Fashion (India) Ltd., Sonata Software Ltd., Zomato Ltd., EPL Ltd., Sona BLW Precision Forgings Ltd., Shriram Finance Ltd., and Balrampur Chini Mills Ltd. have all shown the bullish harami cross pattern, signaling potential opportunities for investors.

ETMarkets has identified eight stocks that have bullish MACD (Moving Average Convergence Divergence) crossovers, indicating potential upward trends. ICICI Lombard General Insurance, Indian Railway Catering & Tourism, Bajaj Finserv, Cholamandalam Investment & Finance Company, Housing Development Finance Corporation, Tube Investments of India, Hindustan Zinc, and Oil and Natural Gas Corporation could be worth considering for investment due to their strong market position and potential for growth in their respective sectors.

Dow Jones Industrial Average rose 55.96 points, or 0.16%, at the open to 34,464.02

The move sees it lower its holdings in the firm from 23.82% in March to 17.60% now. Domestic investors BNP Paribas Arbitrage and Franklin Templeton MF have ended up with a 1.63% and 0.84% stake respectively, while foreign investor Nomura has bought an 0.83% stake.

The first tranche of the Sovereign Gold Bond Scheme 2023-24 will be open for subscription from June 19-23, 2023, at an issue price of INR 5,926 per gram. The government has decided to offer INR 50 discount per gram from the issue price to investors who apply online and make payments through digital mode. The bonds will be sold through banks, designated post offices, and recognised stock exchanges. The scheme was launched in November 2015 to reduce demand for physical gold and increase financial savings. Bonds are denominated in multiples of gram(s) of gold with a basic unit of 1 gram.

The kind of phenomena and the change you are talking about, I mean, you said around 35 and below, so we are talking about millennials over here. Also, one thing, is this a very urban phenomena because in tier II and tier III towns, I mean, even if women are working but then they are still apprehensive about talking about their finances and the main decision maker is still a male in the family.

Indian benchmark equity indices closed at new highs on Friday, following positive cues from global markets and boosted investor sentiments. The Sensex and Nifty gained 0.74% and 0.74%, respectively. US data suggesting a less hawkish stance from the Federal Reserve also contributed to a surge in optimism among investors

The Nifty Realty index closed 0.21 per cent down at 517.1.

Vijay Kedia, has sold his shares in Canara Bank, Federal Bank and BOB to invest in midcap illiquid stocks. He also disclosed his investment in airline stocks, particularly IndiGo, which he believes is a sunrise industry despite the unpredictable cost of oil. Kedia remains invested in Vaibhav Global despite a 70% fall from its highs, citing his investment approach of chasing the story behind a stock rather than focusing on money. He also highlighted the emergence of infrastructure companies as a new sunrise industry.