Latest Stock Market News

Indian markets are likely to continue their rally thanks to benign liquidity, stronger-than-expected results so far in the current quarter, and diminishing pressures on pricing. Underperforming sectors such as pharmaceuticals as well as capital goods, consumer durables and defence companies offer good opportunities. Stocks of safe bets, like ITC, Britannia and HUL, are doing well due to favourable valuations and strengthening ownership in a scenario of intense uncertainty before the election.

The Indian rupee closed at 82.75 per US dollar, down 7 paise, as the greenback gained strength in the overseas market and on weak domestic equities. The market is worried about the debt-ceiling impasse, putting pressure on the Indian currency. Despite FII inflows and a steady rebound in crude oil prices, traders are expected to remain cautious ahead of the US GDP and pending home sales data. The USD/INR spot is expected to trade between 82.30 and 83.30, according to Sharekhan by BNP Paribas’ Research Analyst, Anuj Choudhary.

The blue-chip Nifty50 index closed 0.20% higher at 18,321.15, while the benchmark S&P BSE Sensex rose 0.16% to 61,872.62.

Broadly the market has been in a consolidation over the last 20 months. With earnings climbing higher than valuation premium getting washed off, equity markets now appear more evenly poised than before.

Low-cost, high-return mutual fund schemes are ideal for investors looking to minimize expenses and maximize their returns. The following five mutual funds have low expense ratios and significant returns, including the Quant Small Cap Fund, Quant Infrastructure Fund, Nippon India Small Cap Fund, HSBC Small Cap Fund, and Tata Small Cap Fund. The expense ratios range from 0.26% to 0.86%, and the trailing returns range from 5.12% to 66.25%, depending on the timeframe considered. All funds have a minimum investment requirement of Rs 5,000 and a minimum SIP investment of Rs 500 to Rs 1,000.

The Nifty Pharma index closed 0.12 per cent up at 12455.5.

Gold price plunged Rs 430 to Rs 60,250 per 10 gram in the national capital on Thursday amid weak global trends, according to HDFC Securities. The precious metal had ended at Rs 60,680 per 10 gram in the previous trade.

On a sequential basis, net profit declined 37% from Rs 124 crore reported in the December quarter.

The equal weighted index funds, I think, have been around for the last couple of years and business cycle funds have also been there.

Market breadth was inclined in favour of the bulls. About 1,877 stocks gained, 1,616 declined, and 118 remained unchanged on the BSE.