Latest Stock Market News

​ According to Motilal Oswal, investing in a diversified or sector fund will depend on your investment goals, risk tolerance, and market outlook.

Piper Serica is happy to add to its position in smallcap banks like Catholic Syrian and South Indian Bank as they see these banks as structural stories for the next four to five years. The solid credit demand environment from both retail and corporate customers is expected to have a positive impact on the banks which still remain undervalued compared to their larger peers.

The Nifty Pharma index closed 1.17 per cent up at 12601.55.

We have a more bearish view on the domestic outlook than the RBI governor, we have it at 5.3% for FY24. Now much of this is underpinned on the fact that this is a really, really challenging year for the global environment because we tend to forget this but interest rates have gone up quite sharply in the US, in Europe, in a number of developed markets.

ETMarkets.com has identified six stocks that demonstrate favorable financial indicators and have attracted attention from institutional investors like FIIs and MFs. These stocks have consistently achieved a sales growth rate exceeding 10% in each of the last four quarters of FY23.

Zee-Sony merger can deliver a 55-60% upside on valuation over the near to medium term, according to Karan Taurani, senior vice-president at Elara Securities. An immediate 10-15% rise could come on the basis of National Company Law Tribunal approval, with a further uplift expected due to synergies and business strategy execution.

On the technical charts, the RSI of the stock stood at 48.57.

Cryptocurrency markets experienced a slight increase in trading on Friday due to positive weekly unemployment data in the US. Bitcoin rose by 0.93%, reaching $26,450, and Ethereum was above $1,800. Other top crypto tokens, such as Litecoin, Polygon, and XRP, were also trading higher. The total volume in DeFi was around 1.73 billion. Investors are awaiting a clear resolution on the US debt ceiling conversations before making further decisions, according to a CoinSwitch Ventures executive. The global cryptocurrency market cap was trading at $1.11 trillion, a rise of 0.70% in the last 24 hours.

Gold futures have witnessed negative returns in May due to an increase in the value of the Dollar Index (DXY) against a basket of six major currencies. The safe-haven appeal of gold may be affected in the near term due to the expected resolution of the US debt ceiling and strong economic indicators in the US. Gold was trading at $1,948.10 per troy ounce, up by $4.40 or 0.23%, while silver futures were trading at $23.04, higher by $0.130 or 0.570%. Despite consolidating in a lower range, gold has gained 8.18% so far this year.

The Competition Commission of India (CCI) has approved the acquisition of additional Series E compulsorily convertible preference shares of Acko Technology & Services by Multiples Private Equity Fund III and CPP Investment Board Pvt Holdings (4). Acko is engaged in providing technology and outsourced services while also providing all-round damage protection plans for electronic devices such as mobile phones and facilitating the sale and purchase of new and used vehicles through its platform. The target (through its affiliates) is also involved in the provision of non-life insurance services in India. The companies involved belong to the Multiples and Canada Pension Plan Investment Board groups.