Latest Stock Market News

Ola Electric experienced a 32% increase in revenue for the first quarter of FY25, amounting to ₹1,644 crore, while net losses expanded to ₹347 crore. The automotive division saw a 34% boost in total income. The company plans to introduce electric motorcycles on August 15, with deliveries expected in the last quarter of the fiscal year.

Oil prices saw a modest rise Thursday on optimism that potential U.S. interest rate cuts could stimulate economic activity and fuel demand. However, gains were limited by concerns over sluggish global demand. The increase followed a decline on Wednesday when U.S. crude inventories unexpectedly rose, and worries about a wider Middle East conflict eased.

Margin trading in Japan saw a sharp decline amid a steep drop in the Nikkei index, which experienced its biggest fall in nearly 40 years. The total value of shares bought on margin fell by 907 billion yen, indicating that retail investors were forced to sell their stocks due to margin calls, impacting market activity.

In a market insight, Siddhartha Khemka highlighted robust domestic liquidity and strong interest in quality IPOs. He noted pharma, FMCG, and automotive as promising sectors. Khemka also pointed out Gravita India and Signature Global for their growth potential. Additionally, he expressed optimism for new-age tech stocks like Zomato and Policybazaar.

European stocks climbed on Wednesday, driven by gains in travel, leisure, and financial sectors. The STOXX 600 index rose by 0.5%, encouraged by signs of slowing U.S. inflation and potential Federal Reserve rate cuts. Key performers included Flutter, UBS, and Straumann, while Thyssenkrupp and Carlsberg faced declines.

If volatility in global markets remains, we might see a narrative against mid-cap stocks. But if one looks from another fundamental point view, if the low rate regime comes sooner than it is beneficial for mid-caps. The bottomline of the mid-cap companies have a strong correlation with interest rates and there is a higher probability that interest rates will move in a southward direction, sooner these companies will benefit. In the last few weeks, more sectors which were lying low for some time after election results are returning to action. ET screener powered by Refinitiv’s Stock Report Plus lists down quality stocks with high upside potential over the next 12 months, having an average recommendation rating of “buy” or "strong buy". This predefined screener is only available to ET Prime users.

Foreign currency assets worth $19 billion were added to the stock of reserves in the month of July in one month since certain Indian government bonds were included in the JP Morgan bond index.

Wall Street indices showed mixed results on Wednesday. Alphabet fell 3.6% following reports of a possible breakup by the U.S. Department of Justice, affecting the Nasdaq. Moderating inflation kept hopes alive for a Federal Reserve rate cut in September. The S&P 500 and Nasdaq mostly gained, boosted by tech stock rebounds and lower inflation rates.

Mazagon Dock Shipbuilders reported a 121.45% jump in net profit for the quarter ending June to Rs 696.10 crore, helped by sharply lower costs.

Sometimes stocks owned for a longer period are sold either to book profit or to exit it in anticipation of impending bearishness.