Latest Stock Market News

​​The search-cum-selection committee panel was set up in February to choose a chairman-cum-managing director (CMD) at ONGC and is planning to seek out private sector executives as well.

Experts say that the fundamentals favour India despite the government’s unfriendly attitude towards cryptocurrencies. India will have the maximum number of Web 3.0 developers in the next 12–18 months, and in terms of markets, India was one of the fastest-growing crypto markets globally before the crypto tax announcement.

Analysts at brokerages such as CLSA, IIFL Securities and ICICI Securities downgraded stocks such as Tata Steel, JSW Steel and Jindal Steel.

Analysts said the levy of export duties on steel inputs and outputs as well as reduction of customs duty on inputs are a booster for the sector which has been facing input cost issues.

A Standard Chartered analysis shows that 45% of this fall was driven by valuation losses as the dollar gained globally, while 30% was driven by two sell/buy swap auctions of $10 billion conducted by the Reserve Bank of India in April, while the remaining 25% was driven by the actual balance of payment outflows due to rising import costs.

On Terra’s governance proposal portal, 80 per cent of eligible token holders that voted are pushing to rebuild the protocol, minus the algorithmic component.

The Securities and Exchange Board of India has released new norms for passively-managed debt funds. ETMutualFunds had reported last week that these norms are in the pipeline.

Investors don’t consciously calculate the difference in returns that their strategy (higher cash calls) generates but derive huge comfort and satisfaction when they are able to invest in market corrections. It ‘feels’ like that strategy would generate superior returns given that we are buying during a market correction, but an accurate assessment of opportunity cost is not done.

Another listing candidate, Venus Pipes and Tubes, is commanding a premium of Rs 35-40 or 10-12 per cent in the grey market over the issue price of Rs 326. It is signalling a mild listening pop.

Tuesday, again is likely to see a stable start provided there are no overnight negatives to deal with. The levels of 16,350 and 16,430 are expected to act as potential resistance points. The supports come in at 16,105 and 15,950 levels.