Latest Stock Market News

For more such web stories click on the ET icon below

Mixed Q4 earnings season so far with IT companies disappointing, but strong results from financial and banking sector helped markets. Investors will track corporate earnings and global trends to gauge market direction. This week, Adani Enterprises, Titan Company, HDFC, TVS Motor, Hero MotoCorp, Tata Steel, and several other companies will announce their results. Notable companies announcing include Tata Steel, Titan Company, HDFC, Adani Enterprises, TVS Motor, Hero MotoCorp, Britannia Industries, and Marico.

​The top 6 Indian IT companies earned a total profit of Rs 26,809 crore in the March quarter of 2023

N Jayakumar’s portfolio won’t be mirroring the Nifty and there has to be stock selection. “Given the amount of coverage in the market, maybe a year, year-and-a-half down the line, we have to see if FIIs’ tactical play on moving from Indian markets to China, gets reversed.” Jayakumar also cautions against extrapolating the exaggerated move seen in April in midcaps and smallcaps.

“Our conviction on Divi’s is more from a stock-specific perspective rather than from a category oriented perspective. Divi’s is a firm where half of its business is not API related. It is a contract manufacturing of patented molecules largely etc. And as a result of this part of the business, there tends to be a lot of volatility from quarter to quarter in reported results.”

The outcome of the US Fed meeting, Q4 earnings season, Adani-Hindenburg saga investigations by Sebi and the Supreme Court-appointed expert committee, RIL’s financial services business demerger, global markets, FII flows, INR-USD equation, auto sales and crude oil rates will influence the equity market this week. The US Federal Reserve meeting on May 3 and European Central Bank meeting on May 4 will likely lead to a 25bps hike in interest rates. Domestic giants Tata Steel, HDFC, Titan, and TVS Motors are amongst the prominent companies due to release earnings.

Silver prices have surged to a near one-year high on the back of increased demand optimism and a weak US dollar. Silver’s boost comes from industrial demand, particularly from China, where consumption and industrial production have picked up after scrapping COVID restrictions. In addition to traditional uses such as jewelry, coins, and photography, new areas of demand have arisen for silver, such as renewable energy and electric vehicle batteries. The balance between demand and supply will be a significant driver for prices, with global silver demand outpacing supply.

The portfolio is 96% leased with a diversified tenant base of over 1,000 national and international brands like Apple. Zara, H&M, Uniqlo, Sephora, Superdry, Lifestyle, Shoppers Stop, Starbucks, McDonalds among others across around 3,000 stores.

"I’m happy to share that the asset quality remains high. On the retail side, the Gross NPA is 1.65% and the net NPA is at 0.55%, against the guidance of Gross NPA of 2.0% and NNPA of less than 1%. If we exclude the infrastructure financing book, which is anyway in run-down mode, the Gross NPA and Net NPA would be 1.84% and 0.46% at the overall bank level," said IDFC First Bank MD and CEO V Vaidyanathan.

The Indian stock market gained for the fifth consecutive day as the Nifty rose by 2.5%, posting a weekly gain of 4.06% as the VIX tested its pre-pandemic lows. However, the low level of the VIX makes the markets vulnerable to sharp profit-taking bouts. Nifty has bounced off its 200-DAY moving average, which provides strong support. Additionally, 100-Week moving average at 17214 also acts as strong support. One must be cautious while chasing the up moves and trail stop losses of the long players.