Latest Stock Market News

​The S&P BSE Sensex topped 63,000 while the Nifty50 also hit 18,700 levels on Wednesday.

In the financials basket, HDFC Bank, ICICI Bank, SBI, HDFC, Bajaj Finance, Kotak Mahindra Bank and Axis Bank are also on the list. However, while evaluating banks and other lenders, price-to-book value (P/B) is more appropriate than PE as banks earn income based on their balance sheet size.

“Fed chief Powell’s observation that “it makes sense to moderate the pace of rate hikes” has come as a shot in the arm for the bulls to take the ongoing rally forward. The dip in the dollar index to 105.5 and the US 10-year bond yield declining sharply to 3.63 % are hugely favourable for the continuation of FII inflows,” V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said.

"We continue to own large private sector banks like ICICI Bank, HDFC Bank, Axis Bank, and also Federal Bank. We are also optimistic about the CRAMS business for the next few years and have exposure to Divi’s Laboratories and Laurus Labs. The other pharmaceutical business we like is Sun Pharma for its US specialty business and market leadership in the domestic formulations business. Some of our other holdings in largecaps are in the IT sector – Infosys and HCL Tech."

Nelco in partnership with Canada’s Telesat have done a trial but the company has not mentioned in its application as to how it will offer services through the partnership.

The state-owned refiner and oil marketing company is also working in alternative energy areas to provide renewable energy solutions such as 2G ethanol from agri waste, fuel cell technology for automobiles, biodiesel production from solar power, and energy storage devices.

The finance ministry noted that this is being done in view of the changing needs of the insurance sector, and the comptehensive review of the legislative framewotk goveming the sector has been done in consultation with IRDA and the industry. "

The regulator said the initial margin payable by the client to the stock broker should be in the form of cash, cash equivalent or equity ETFs.

The Singapore-based global investment company owned 2.86% in Zomato via another investment arm Macritchie Investments at the end of September 2022, data showed. Alibaba group, invested through two of its investment arms, will hold 9.91% stake in the company post the block deal.

Through this connectivity, global investors who are clients of SGX will be able to trade in Indian derivatives market remotely without having to set up a shop in India. Currently, only a few trades are being executed through the route.