Latest Stock Market News

A total of 11,167 shares changed hands on the counter till 11:26AM (IST)

Further, it has witnessed significant directional move after breaching its mean+2 sigma levels in the past. The recent up move above Rs 860 is likely to extend the positive bias in the stock.

Bharat Forge stock price recently gave a breakout from a cup and handle pattern on the weekly scale and is sustaining above the same. It recorded a strong bullish candle last week which is a positive sign for the bulls

“Among private sector banks, we continue to be overweight on both ICICI Bank and HDFC Bank and among PSBs, SBI. In midcap, we have IDFC in our portfolio. We are also adding more weight to some of the defence bets. We are looking more at defence and defence auto ancillaries.”

“Following a 50 bps rate hike and hawkish message from the Fed on 14th, the ECB and BoE also hiked rates on 15th by 50 bps each and delivered, perhaps, a more hawkish message than the Fed. This synchronised rate hiking cycle has impacted sentiments leading to sharp cuts of more than 3% in Nasdaq, CAC and DAX,” V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said.

The open interest in metal stocks is close to multi-year lows. Hindalco and JSW Steel have one of the lowest OI.

A total of 2,269 shares changed hands on the counter till 10:10AM (IST).

The stock quoted a 52-week high price of Rs 142.25 and a 52-week low of Rs 78.7.

Besides, a number of board meetings are scheduled for today. Advani Hotels will meet to decide on an interim dividend. Also, Shree Securities will meet to consider stock split, while Murudeshwar Ceramics’ board will meet to mull issue of warrants.

The government received bids for 5,55,10,454 shares in the OFS from institutional investors against the offer size of 1,80,00,000 for the category, according to the data on the BSE website. This gave the government an opportunity to use the greenshoe option of 1,80,00,000 additional shares.