Latest Stock Market News

“This year, we would see the normalising of liquidity and interest rates which will have a downward effect on equity valuations. On the other hand, we are seeing the corporate profit cycle is rising and the earnings upgrade cycle is also continuing.”

In the international market, gold was trading marginally lower at $1,817 per ounce and silver was flat at $22.94 per ounce.

At the interbank foreign exchange market, the local currency opened at 74.36 against the American currency and witnessed an intra-day low of 74.60 during the session.

The Nifty Pharma index closed 1.19 per cent down at 13697.6.

Prabhudas Lilladher sees rationalisation of the tax and duty structure such as 18 per cent GST on all the auto components to minimise spurious and counterfeit products in aftermarket

“Q3 results are going to be out soon and I cannot pre-empt that but the overall trend for the business is very healthy and we are very excited about FY23 ahead of us,” says Nitish Mittersain.

The 30-share pack Sensex declined 554.05 points or 0.90 per cent to close at 60,754.86. Its broader peer NSE Nifty fell 195.05 points or 1.07 per cent to 18,113.05.

The Kotak Pre-IPO Opportunities Fund has already made investments worth Rs 653 crore in five deals and has another Rs 405 crore worth deals in various stages of evaluation and execution.

The company had posted a PAT of Rs 267 crore in the corresponding quarter of the preceding fiscal, ICICI Securities said in a statement.

A fall below the 18,100-080 range may trigger further weakness, analysts warned.