Latest Stock Market News

Equity markets ended the last week on a flattish note and investors will likely take cues from US Fed policy outcome and the macro data to be released later during the week. Here are five technical picks from analysts that can rally up to 11% in the short term.

Breakdown on daily and weekly frame and closed below its 50 DEMA.

A total of 662,127 shares changed hands on the counter till time (IST).

The Turkish lira slipped to a new record low against the dollar early on Monday, touching a level of 23.77 as investors waited for indications on policy moves after the appointment of a new central bank governor expected to raise rates.

As of 31-Mar-2023, promoters held 0.0 per cent stake in the company, while FIIs held 15.21 per cent and domestic institutional investors had 4.59 per cent.

In the NSE list of stocks with a market cap of over Rs 1000 crore, 10 stocks crossed their previous 5-year high values at the close on June 9.

We have been managing an AUM of 400cr across two long-only equity schemes and we have recently executed the pre-closure of our maiden fund around 5 months before the scheduled maturity of the fund and returned 100% of that scheme’s capital to the investors. We currently have one scheme live with an AUM of close to 290cr.

The swing lower from oversold levels is similar to the one seen in late May, except for two facts: Firstly, this time, the turn is from a higher level, and closer to record peak. Secondly MACD histogram has registered a sizable dip below zero line.

We expect earnings trajectory to improve in the coming quarters led by improved margins driven by moderating cost inflation. In our opinion, market returns are likely to be in line with corporate earnings growth.

It has been a joy ride for equities and investors in the last couple of months. We have seen excellent performances by both the stocks and the market indices.