Latest Stock Market News

Several prominent Indian stocks, including Wipro and Asian Paints, are currently facing strong sell recommendations from analysts. Data indicates bearish sentiment dominating IndusInd Bank and Dr. Reddy s Labs as well. Despite the caution, Tech Mahindra and Asian Paints receive some buy ratings, suggesting potential upside for investors willing to take the risk.

Urban Company s upcoming IPO contrasts with previous tech IPO disappointments like Swiggy and Paytm, showcasing stronger financials with a recent profit of Rs 240 crore. While analysts acknowledge the company s sound business model, concerns linger about its valuation of Rs 15,000 crore.

India s Securities Appellate Tribunal has instructed the Securities and Exchange Board of India (SEBI) to justify its refusal to disclose additional documents requested by Jane Street in an ongoing market manipulation case. The tribunal has also temporarily halted personal hearings with the trading firm until the next hearing on November 18. This pause delays a potential confirmatory order from SEBI.

The BRICS nations face scrutiny, with differing views on their strength. Standard Chartered s Steve Englander discusses BRICS unity amid US policy concerns. He views the US economy as a hedge fund, dependent on tech innovations. Englander highlights risks to the dollar from rising debt. He anticipates aggressive Fed rate cuts, citing a weak labor market.

Japan s Nikkei experienced a volatile session, initially surging past 44,000 on hopes of increased government spending following Prime Minister Ishiba s resignation. However, the index reversed course, closing lower due to a strengthening yen, which dampened exporter earnings. While auto tariff reductions with the U.S. offered some positive news, concerns arose over pharmaceuticals and semiconductors.

Abhay Agarwal, Founder of Piper Serica Advisors, said India is converting global tariff uncertainty into reform-driven growth. He sees four sectors—manufacturing, pharma innovation, consumer internet, and financials—as key drivers, with GST cuts boosting festive demand and small banks, NBFCs, and microfinance lenders emerging as beneficiaries.

Avic Chengdu shares slumped nearly 25% in five sessions, even as the firm remains China’s largest defence company by market value. The decline coincided with Beijing’s military parade, drawing global attention. Despite the fall, the stock remains up year-to-date, while broader defence indices and peers like Zhuzhou Hongda also weakened.

Market expert Neeraj Dewan highlights attractive opportunities for long-term investors across various sectors. He suggests Infosys buyback is appealing due to better valuations, while railway stocks like RailTel are poised for growth after consolidation. Dewan also notes solid entry points in the auto sector following corrections and favors capital market-linked stocks like BSE, NAM, and CAMS for long-term investment.

Securities and Exchange Board of India stated that the investigation and final order on Jane Street could be much wider. SEBI will not release documents not relied upon for the order. Jane Street appealed against SEBI, seeking document release to rebut market manipulation allegations. The hearing started on Tuesday.

Taurian MPS, a crushing and screening equipment manufacturer, launches its Rs 42 crore IPO today, aiming to list on the NSE SME platform on September 16. The IPO consists of a fresh issue of 24.87 lakh shares, with proceeds allocated for machinery, R&D, working capital, and general corporate purposes. While revenue surged, profit after tax slipped due to rising expenses.