Latest Stock Market News

Power Finance Corporation has filed a draft shelf prospectus offering Rs 10,000 crore ($1.34bn) in non-convertible debentures (NCD). The NCDs will be issued in one or more tranches, with at least 75% of the proceeds put towards lending, financing, refinancing or general payment purposes. The rest is earmarked for general corporate purposes.

Data showing that inflation has scooled further in June lift investor hopes that the Federal Reserve is nearing the end of its monetary tightening cycle

Governor Shaktikanta Das discussed issues relating to strengthening credit underwriting standards, monitoring of large exposures, implementation of External Benchmark Linked Rate (EBLR) guidelines, bolstering IT security and IT governance, improving recovery from writtenoff accounts, and timely and accurate sharing of information with credit information companies.

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Sectorally, buying was seen in realty, healthcare, and oil & gas stocks, while selling was seen in IT, telecom, utilities, and consumer durable. Stocks that were in focus include names like Elgi Equipments, which was up 7%, J.B Chemicals & Pharmaceuticals, which gained over 6% to hit a fresh 52-week high, and Delta Corp, which fell more than 23% on Wednesday.

The dollar index slipped to a fresh two-month low of 101.33 on Wednesday, while U.S. yields extended their declines ahead of data that is expected to show that both headline and core U.S. consumer price index rose 0.3% month-on-month in June, per a Reuters poll

Positive chart patterns like higher tops and bottoms were intact on the daily chart and present weakness could be in line with new higher bottom formation at the highs, analysts said. On a move below 19,300, the market is likely to find another important support of 19,100-19,000 levels. Fresh buying interest could only emerge on a decisive move above 19500 levels, said Nagaraj Shetti of HDFC Securities

Reliance Industries, a conglomerate with diverse interests ranging from petrochemicals to telecommunications, achieved a 52-week high of Rs 2,802.20.IndiGo, a prominent player in the aviation industry, reached a 52-week high of Rs 2,743.55

Patanjali Ayurved will offload about 2.53 crore equity shares under the OFS, which represents 7% stake, and in the case of oversubscription, the promoter is planning to sell additional 2%.

Several BSE MidCap stocks hit new 52-week highs on July 12, indicating their growth potential and market resilience. Among them are 3M India, a diversified technology company; BHEL, an engineering and manufacturing enterprise; CG Power & Industrial Solutions, offering end-to-end electrical solutions