Latest Stock Market News

Ajay Bagga advised investors to stay on the sidelines due to high market volatility, primarily affecting equity and FX markets. Despite strong oversubscription in IPOs driven by liquidity, he cautioned that valuations are elevated. He highlighted opportunities in hospitals and EMS sectors but emphasized the need for regular, cautious investments.

While investors such as Radhakishan Damani and Akash Bhanshali enjoyed substantial gains, others, including the Jhunjhunwala family, faced declines.

A shift below the VWAP suggests a potential bearish trend, according to StockEdge.com’s technical scan data.

Ajay Singh, the promoter of SpiceJet, is set to reduce his shareholding in the beleaguered airline by over 10% to raise approximately ₹3,000 crore. Despite the dilution, Singh will remain the largest shareholder, with his stake expected to fall to 30-35%. The airline aims to issue new shares to investors to bolster its capital base. SpiceJet, grappling with financial challenges and operational issues, hopes that the infusion of funds will help stabilize its operations and attract investors amid a robust demand for air travel in India.

Asian markets surged following US inflation data suggesting the Federal Reserve might ease monetary policy in September. Japan and South Korea saw notable gains. The US producer price index increased less than expected, enhancing Fed rate cut expectations. Investors are also eyeing US consumer price index data for further signs of easing inflation pressures.

Recent market signals suggest a rising probability of a U.S. recession, with models from Goldman Sachs and JPMorgan reflecting higher risks. Despite warnings from bond markets, overall economic indicators like job growth and small-business optimism paint a mixed picture. Recession odds have increased, but not all economists agree on its imminence.

Top IT stocks such as TCS, Infosys, and Wipro lost 3-6% in August after initial excitement due to market volatility and US demand uncertainty. Despite solid June quarter results and new deals, slow project ramp-ups and cautious client budgets contributed to the decline. Improved profitability is expected due to falling employee attrition rates.

Oil prices increased on Wednesday as U.S. crude and gasoline inventories fell, reflecting higher demand. Brent crude reached $80.99 per barrel, while U.S. West Texas Intermediate climbed to $78.73. API data highlighted shrinking stocks. The situation was further influenced by potential conflicts in the Middle East, which could disrupt global oil supplies.

U.S. stock indexes climbed to nearly two-week highs on Tuesday, driven by softer producer price data for July which bolstered expectations of a Federal Reserve interest-rate cut. Investors anticipated upcoming consumer-price and retail sales data to confirm these rate cut bets. Technology and consumer discretionary sectors saw major gains while energy shares declined.