Latest Stock Market News

There are different types of fixed-income instruments that are available in the market. Bonds and Public Provident Funds (PPF) are two such instruments that are quite popular among investors. While both avenues offer assured returns, they are quite different. Before starting with the investments, investors should understand the concept of bonds and the Public Provident Fund and see how they differ.

For more such web stories click on the ET icon below

The outlook for gold is weak due to the US debt ceiling crisis nearing resolution and the strong Dollar Index. Physical gold and silver buyers can take advantage of the expected correction in prices. Gold prices in Delhi are at around Rs 60,800 per 10 grams, while silver is priced at Rs 73,000 per kg. Traders can book profits in gold and silver futures, said Anuj Gupta, VP of Commodity and Currency Research at IIFL Securities. June Gold futures have support at Rs 58,800-Rs 59,400 and resistance at Rs 60,000-Rs 60,400, while support for Gold futures on COMEX is at $1920-$1890 and resistance at $1960-$1980.

Founder and CEO of Hedged, Rahul Ghose, predicts that both Nifty and Bank Nifty will exceed previous highs in June, especially with strong support from foreign institutional investors in the cash market. Ghose advises that corrections in the market should be seized as buying opportunities. Past their all-time highs, Ghose expects the rally to slow down, however, the extent and speed of the rally will depend on the magnitude of FII flows. Likely to continue on its upward journey, Ghose suggests entering long on Apollo Tyres this week.

​​Even though stock prices may have moderated, broad valuations have not valued the full trouble. Like the one-year forward valuations of large and midcaps continue to trade at a premium. India’s one-year forward consolidated P/E is at +18x, marginally above the long-term average of 17x. The Q4FY23 result is mixed, and the outlook suggests a downgrade in earnings for 2023.

Indian stock markets ended the last week of May with strong gains and have begun the June series on a positive note; the Nifty50 gained 1.63% for the week and crossed the resistance of 18,400 to close at 18,499.35. Investors are advised to remain cautious as we approach the June series expiry. Markets will take cues from Wall Street, which will remain closed on Memorial Day. The week will also bring several important domestic and global economic events for investors to track, along with the possible impact of movements in the US debt ceiling, crude oil prices, and government bond yields on market performance.

​VWAP or Volume Weighted Average Price is the average price of a stock, adjusted for its volume.​

The combined market valuation of seven of the top-ten most valued firms jumped Rs 1,51,140.39 crore last week, with Reliance Industries and Tata Consultancy Services emerging as the biggest gainers. While Reliance Industries, Tata Consultancy Services (TCS), Hindustan Unilever, ITC, Infosys, State Bank of India and Bharti Airtel made gains in their market valuation, HDFC Bank, ICICI Bank and HDFC faced erosion

“The 4% less monsoon rainfall than the long period average of 100% can be attributed to an expected El Nino event in the Pacific. At present, in the equatorial Pacific, neutral conditions are there. However, model forecasts are showing that and the temperature are also seen warming over that region. Most of the models are indicating that in the next 2-3 months it will reach El Nino conditions.”

Gold prices closed the week with a loss of 1.60% at $1945.74, with the US dollar index recording a weekly gain of about 1% to reach 104.23, and 10-year US yields at 3.79% on Friday. Mixed US data releases on 27 May were mostly positive for the dollar and negative for bonds and gold, with real personal spending showing strength at 0.50%. A debt ceiling deal between US policymakers remained possible ahead of the 6-9 June date, boosting macroeconomic sentiment and hitting gold.