Latest Stock Market News

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.

Short covering signals a shift from extreme bearishness to bullishness.

Reliance Infrastructure Ltd on Wednesday said its consolidated net loss narrowed to Rs 69.47 crore in the June 2024 quarter. It had clocked a net loss of Rs 494.83 crore in the year-ago period, the company said in an exchange filing.

The market recently broke below the crucial support of the ascending trend line, and the significant gap down on August 5th remains unfilled, indicating a negative outlook. A decisive drop below 23,900 could lead to a short-term downward correction. The immediate resistance is at 24,250-24,300 levels, according to Nagaraj Shetti of HDFC Securities.

Reliance Power on Wednesday said its consolidate loss narrowed to Rs 97.85 crore during the June 2024 quarter, on account of improved income. It had reported a loss of Rs 296.31 crore in the April-June period of the preceding 2023-24 financial year, the company said in a regulatory filing.

Starbucks Corp. investors have never rewarded the stock more than they have today on the news that the coffee chain giant hired Chipotle Mexican Grill Inc.’s Chief Executive Officer Brian Niccol as its new leader.