Latest Stock Market News

From a technical perspective, the support zone of 15,700-15,750 is getting important by each passing day. After the initial test of this support zone, Nifty has defended this level for two days in a row as of now. It is also important to note that this level is also an important pattern support in the form of a double bottom for the markets.

“It could be a good time to have a mix of things, to have a more flexible approach in looking at market capitalisation and it is very important to know what kind of stocks you are buying rather than focussing on a single market capitalisation. If you are a longer term investor, it makes more sense to have a more balanced approach rather than only going towards a largecap portfolio.”

The depegged stablecoin of Terra foundation, named UST, death spiralled below $0.15 from $1, wiping out more than $30 billion from the investors wealth and its sister token LUNA took the entire hammering.

Of the total IPO amount, the company will issue Rs 1,004 crore worth of shares to investors. It will utilize it to part-finance the acquisition of a plant in Goa and repayment of loans. Besides, its promoters and the Government of India will be selling Rs 498 crore worth of stocks via offer for sale.

Independent Analyst Manish Shah said the lows of the last three days are almost equal at 15,750 and the pattern in play is a tweezers bottom. It suggests Nifty50 is not ready to slip below the support at 15,750, Shah said.

Escalation in geopolitical tensions due to the war between Russia and Ukraine, hikes in interest rates by the US Fed along with its hawkish guidance, volatile crude prices, and surging inflation globally, among other causes, prompted investors to turn risk-averse during the quarter under review, the report noted.

A report said the company’s CEO Ajay Srinivasan was apparently sent packing recently due to a whistleblower allegation of insider trading and frontrunning at Aditya Birla Sun Life AMC, which is the mutual fund arm and is also listed on exchanges.

“If you take a 6 to 12 month view and are very focussed on near term performance, I would say shift to quality largecaps as that would be where you will conserve capital a lot more. But if you take a three to five year view, I am pretty sure that there are a lot of midcap and small cap stocks which will correct quite a bit in this downturn and which will come to levels which would be very attractive.”

“I would say LIC listing is definitely good for the markets. LIC’s product mix is a bit different from other insurers because LIC is into non-linked products and one cannot really compare them. It is not an apple to apple comparison and cannot really extrapolate this listing and the ruboff it will have on other insurance companies.”

Market veteran Hiren Ved, whose experience on Dalal Street spans over 30 years, says he learnt early on to never regret any investment decision and instead learn and move on. Ved, who is tracking market swings from as young as 18 years of age, says he used to visit the stock market after his college classes, and soon got into the habit of attending annual shareholder meetings.