Latest Stock Market News

The rupee gained 10 paise against the US dollar to trade at 82.30 in early trading Friday on the back of weak dollar and improved sentiment in Asian currencies. The dollar index also fell by 0.08% to 103.47 against a basket of major currencies, and Brent crude futures rose by 0.65% to $74.76 per barrel. Strong data from the US and Eurozone supported risk-on sentiment and positive macroeconomic data in India also helped the local unit. Manufacturing activity in India rose to a 31-month high in May.

Top brokerage firms have given their recommendations on Grasim Industries, Bajaj Finance, MCX, and Hindustan Zinc. Morgan Stanley has given an overweight rating to Grasim Industries, achieving a target price of Rs 1910. Jefferies has recommended a buy rating for Bajaj Finance with a target price of Rs 8310, while Morgan Stanley has retained its underweight rating on MCX with a target price of Rs 1125. Motilal Oswal has kept a neutral rating on Hindustan Zinc with a target price of Rs 300.

​So, I think we have seen a good rally in paints stocks from the bottom, the results were decent and input price there is subdued but for those who are already invested I think they should be holdings, new buyers should not be buying this sector at this stage.

Muthoot Finance, incorporated in the year 1997, is a Large Cap company (having a market cap of Rs 45317.48 Crore) operating in NBFC sector.

A total of 2,837 shares changed hands on the counter till 10:46AM (IST).

I would say that there is a balance here. In our discussions with fund managers, we find two more popular trades, particularly for people dealing money with India. I think there is a bigger population of fund managers who are far more micro and stock specific. And on the other hand, there is also a section of fund managers who want to avoid being tactical at all.

The stock quoted a 52-week high price of Rs 5360.65 and a 52-week low of Rs 3834.0.

​Obviously, given the way most commodities have stabilised and also fallen so drastically, you will see many of the consumer names also do well. And as far as I think you were talking about the auto sales numbers, I think they have been pretty decent. So I think most of the frontline auto companies look pretty well placed. So I guess that should be one of the outperforming sectors.

Commodity prices for most manufacturing companies are easing, they are closing in on their long-term sustainable margin profile, and from this stage onwards growth at the top level will significantly drive earnings in the future.

​In the NSE list of stocks, with a market cap of Rs 10,000 crore and above, 4 stocks crossed their previous 5-year high value at the close on June 1