Latest Stock Market News

BHEL, REC, HPCL, Ceat, and BPCL, among others, have set August 9 as the record date for dividend eligibility. Today is the last day to purchase shares to qualify for these dividends.

Three Nifty500 stocks closed over 3% above the VWAP, suggesting a potential bullish trend. This indicates the closing price exceeded the volume-weighted average, signaling positive market sentiment.

​So, the sense one gets here is you cannot write off the industrials or the capital goods or the power just on the back of higher valuations. Yes, there will be some cool offs which we saw the last two-three days a lot of these companies corrected.

Gold prices saw a slight increase on Thursday, supported by the anticipation of a U.S. interest rate cut and persistent Middle East tensions. Spot gold rose 0.3% to $2,387.37 per ounce. Investors are awaiting jobless claims data and Federal Reserve statements for further direction on monetary policy decisions.

Dipan Mehta, Director at Elixir Equities, advised investors to maintain a cautious stance amid potential market corrections. He noted that significant investment opportunities arise during downtrends. Mehta remains skeptical about Jio Financial Services and suggested focusing on established NBFC players. He also expressed caution regarding the automobile sector despite upcoming new model launches.

The initial quarter earnings season began with 225 companies, including LIC, Eicher Motors, RVNL, and SAIL, reporting their financial performance. Eicher Motors was expected to achieve a significant profit range, while LIC was projected to see a notable increase in its annual premium equivalent and value of new business on a yearly basis.

On Thursday, eleven stocks, including Aditya Birla Capital and ABFRL, faced an F&O trade ban due to surpassing open interest limits. Meanwhile, Chambal Fertilizers & Chemicals and Granules India were removed from the ban. In a volatile market, Nifty50 and Sensex closed over 1% higher, ending at 24,297.50 and 79,468 respectively.

The golden cross occurs when the short-term moving average crosses above the major long-term moving average.

The 200-day DMA is used as a key indicator by traders for determining the overall trend in a particular stock.