Latest Stock Market News

We enter a “decisive” week; going by the technical setup on the charts, markets may look at initiating a definite directional bias this week and whatever trend it catches on may stay on at least for the short term.

Sundar has settled a case with markets regulator Sebi by returning the advisory fee and disgorging over Rs 6 crore. The case related to PR Sundar and Mangayarkarasi Sundar, promoters of Mansun Consulting, offering investment advice without the necessary registration from the market regulator.

​For some 6 counters from the largecap basket, the closing price of stock has gone above last month’s high. This is a bullish indicator as it indicates the stock is moving upward and has crossed the last month’s high.​

​VWAP is an important metric as it offers pricing insight into both the trend as well as value of a stock. ​

Shares of National Aluminium Co (Nalco) surged by over 5% as its Q4 revenues and profits beat market estimates. The Indian government-run firm is hopeful of profitability looking up in the current fiscal even though prices of aluminium may remain subdued due to tepid economic expansion globally.

Star Health Insurance was the top loser and the stock fell 8.8% over the week. Overall 12 block deals were executed worth Rs 668 crore, according to a Nuvama report. Over 1.21 crore shares changed hands at an average price of Rs 551, this report said.

Gold prices are heading for their third weekly decline after experiencing a surge in early May, soaring to a 33-month high of $2,085.4 per troy ounce. Hawkish comments from Fed officials, strong economic data from the US, and positive talks on the US debt ceiling have all boosted the dollar index and US benchmark treasury yields, forcing down bullion commodities.

In global markets most of the central bankers are veering towards stopping the rate hikes and therefore the interest rate peaks are somewhere closer which should signal that the markets are now well and truly set on a fundamental course. Results will dictate the move ahead.

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​For some 6 counters from the largecap basket, the closing price of stock has gone above last month’s high. This is a bullish indicator as it indicates the stock is moving upward and has crossed the last month’s high.​