Latest Stock Market News

We expect equity returns to be modest as earnings growth will get eaten away by moderation in valuations. 2H2023 will be driven by how earnings are panning out. Rising interest rates remain a challenge.

A 5-year swing high represents the highest price a stock has reached within a five-year timeframe.

India VIX was down by 2.33% from 10.93 to 10.68 levels on Friday. Volatility is hovering near its lower band which is supporting the bulls at record-high levels. On the weekly options front, the maximum Call OI is placed at 19600 and then towards 19700 strikes while the maximum Put OI is placed at 19500 and then towards 19400 strikes.

Some of the prominent stocks that have given multibagger returns include Tanla Platforms, Suzlon Energy, Texmaco Railsystems, JBM Auto, Jindal Saw, Mazagon Dock Shipbuilders, Inox Wind Energy, Force Motors, and Aurionpro Solutions.

The stock market will be shut for the rest of the day if a typhoon signal 8 is still in place by noon. The storm has not caused any major damage, although the Observatory has warned of possible flooding in some areas.

​And therefore, that is why you are starting to see numbers in terms of the deal wins remaining largely intact. Near term, of course, even in the next quarter, we will possibly have to contend with muted growth outlook. And it is possible maybe towards the second half of the year, the expectation at this point in time is that we will start seeing possibly some improvement in terms of the revenue momentum.

Shares of HDFC Bank, LTIMindtree, and Tata Elxsi will be in focus today as the companies will announce their first quarter results.

In auto, I am betting on Minda Corporation. I am liking it for the next one to two-year point of view. It is a solid EV play as well. The price is around 290 to 300 right now. So for auto, Minda can be a good play.

Going ahead, stock specific action will continue with first quarter earnings underway. All eyes will be on HDFC Bank, which will report its results today, a first after the merger. Banking stocks will be in focus as major private lenders including ICICI Bank, YES Bank, Kotak Bank will announce their earnings later in the week.

Driving the rally: A big drop in inflation last month. Consumer prices rose 3% in June from a year earlier, compared with 4% in May, the Labor Department reported on July 12. That was the smallest increase in more than 24 months and well below the 9.1% surge seen just a year ago.