Latest Stock Market News

The stock quoted a 52-week high price of Rs 419.55 and a 52-week low of Rs 206.1.

Baroda BNP Paribas Mutual Fund has said the recent tax amendments by the government on debt mutual funds could shift investor interest temporarily towards PMS and alternative investment funds. In an interview, Prashant Pimple, chief investment officer - fixed income at the asset management company, however, said that passive funds may see muted flows. Despite this, it is believed open-ended mutual fund schemes such as short-term income fund, corporate bond or gilt funds could see flows from investors.

The Nifty50 index is expected to consolidate or experience a turn lower this week, but downside momentum would need to conquer 17885 for it to materialize, according to Anand James, Chief Market Strategist at Geojit Financial Services. The favoured view is that there are prospects for the continuation of the uptrend with a focus on 18600, but the expert also warns of a fair potential for consolidation, once in the 18110-18300 band.

The Indian market is expected to show mixed cues on Tuesday, following global markets. Although the BSE index rose over 400 points last week and the India VIX fell by 4.14%, options data suggest a broader trading range between 17,500 and 18,500 zones and an immediate trading range between 17,800 and 18,300 zones. Various experts have recommended stocks for traders with a short-term horizon, including Bharti Airtel, which is expected to trend upwards, and DLF, which has seen a breakout from a consolidation range.

"India outperformed the rest of Asia and the developed markets in April with a smart rally mainly assisted by sudden change of strategy by the FIIs who have turned big buyers in the market in the last two trading days," V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said.

Reclaimed record high with surge in volumes. Pattern indicates prevailing trend to continue.

The Nifty IT index was trading 1.15 per cent up at 28027.2.

The Relative Strength Index of the stock stood at 70.13 on Tuesday.

The Dow Jones Industrial Average and tech-heavy Nasdaq Composite Index both slipped by 0.1 percent, while the broad-based S&P 500 dipped by less than 0.1 percent. "The collapse of First Republic saw JPMorgan step up to the plate and squash the biggest market risk on the table," said Edward Moya of the OANDA trading platform in a note.

"They (the CCIL) have completed the work on the new platform. The request from the market was that it should be an anonymous platform similar to the NDS-OM or the CROMS as trading on those platforms is a seamless exercise," a source said.