Latest Stock Market News

Despite a volatile week for Indian equity markets, benchmark indices finished positively with smallcap stocks delivering double-digit gains. Jai Balaji Industries reaped the most significant returns with a 34% spike in its shares, with a further two stocks from the same segment posting gains of 27%. The S&P Auto index achieved the highest percentage gain during the week with 4.33%, followed by the Nifty Bank and S&P BSE Healthcare indexes, with returns of 3.81% and 3.54% respectively. Experts forecast further gains and a positive impact on the equity markets from strong economic data.

Policyholders of life insurance policies can opt for surrendering their policy before maturity, which will pay them a surrender value, constituting a part of the sum assured. The guaranteed and special surrender values apply only if all premiums are paid for at least two years. Single premium policies acquire the surrender value immediately, but ULIP plans require five years of lock-in period for payout. Upon surrendering the policy, all associated rights, interests, and benefits, including protection cover, cease to exist. Policyholders should weigh the pros and cons and consider alternative options, such as taking a policy loan before making decisions.

The Bombay Stock Exchange and the National Stock Exchange have removed three Adani group firms from the ASM or additional surveillance framework: Adani Transmission, Adani Green Energy, and Adani Total Gas. The ASM framework is intended to enhance market integrity and protect the interests of investors.

Ageas Federal Life Insurance CEO Vighnesh Shahane believes that the sports lessons he learned are more valuable than his MBA. Shahane played professional cricket for three years and said he learned more about teamwork, making quick decisions, informality, passion, and humility from being part of a team sport than he did in a classroom or boardroom.

The complete transition from LIBOR is a significant event in the global financial markets which requires continued attention from all stakeholders to mitigate operational risks and ensure an orderly transition, RBI said Friday.

Analysts said the Reserve Bank of India had taken the opportunity to build up its reserves amid weakness in the US dollar, which had eased pressure on emerging market currencies such as the rupee. The central bank intervenes in the foreign exchange market to rein in excessive volatility in the exchange rate.

French-based investment company Societe Generale has acquired a stake worth INR33.83 crore ($4.5m) in Indian diversified gaming and sports media firm Nazara Technologies through bulk deals. Societe Generale picked up around 5.93 lakh shares, equivalent to 0.89% stake, at a weighted average price of INR570 and joined investors including Rakesh Jhunjhunwala family, which owns nearly 10%, and Manish Agarwal, who has about 1.43% in the gaming company. However, Nazara Tech shares fell 1.48% to INR560.70 on Friday, down 8.64% YoY.

Tata Motors Group, the Mumbai-based multinational automotive manufacturing company, announced a net profit of INR 5420 crore ($721.5m) for Q4 2022, a rise of INR 6435 crore ($858.7m) YoY, driven by a strong operational performance at Jaguar Land Rover and its India business. Net revenue also rose to INR 1,05,932 crore, a YoY increase of 35%. The company has also outlined a capex of INR 38,000 crore, which includes INR 8000 crore for India business, for FY24.

​On May 10, three Adani Group companies --- Adani Enterprises, Adani Green, and Adani Transmission --- informed the bourses about the board meeting to consider the fundraising proposal.

Global crypto transactions are expected to reach $43 billion in 2023. With the rise in popularity, there has also been an increase in cybercrime and fraud in the crypto industry. Investors are advised to do their due diligence and research platform security and regulatory compliance before investing. They should also use strong passwords and enable two-factor authentication to protect their accounts from unauthorized access.