Latest Stock Market News

Indian indices Sensex and Nifty rose over 1% on Wednesday, driven by gains in banking and IT stocks. Market capitalisation increased by Rs 4.53 lakh crore, reaching Rs 444.12 lakh crore. Infosys, HDFC Bank, ICICI Bank, and Reliance Industries were major contributors to this upward movement.

VRL Logistics Ltd., incorporated in the year 1983, is a Small Cap company (having a market cap of Rs 4689.19 Crore) operating in Logistics sector.

FIIs sold financial and power stocks worth Rs 11,444 crore in July, redirecting funds to IT, metals, auto, healthcare, and capital goods. Financial services experienced significant sell-offs due to various challenges. Conversely, IT companies reported positive growth, resulting in FIIs increasing their investments in the sector.

On August 6, four Nifty500 stocks appeared in the RSI Trending Up scan, indicating a bullish trend. If RSI crosses above 50 and the stock gains over 4%, it signals potential upward movement.

The stock quoted a 52-week high of Rs 2025.0 and a 52-week low of Rs 1043.55.

Pawan Parakh from Geojit Financial Services noted that ongoing geopolitical tensions could have prolonged effects. He advised investors to focus on defensive stocks or companies with high earnings certainty, given the high valuations and market volatility. Parakh highlighted pharma as a key sector due to structural tailwinds and suggested caution in agrochemicals due to uncertainties in China.

On Tuesday, Sensex fell by 166 points and Nifty closed below 24,000 amidst market volatility. Stocks like Airtel, Marico, and KPR Mill showed varied performances. Analyst Viral Chheda provided strategic recommendations, suggesting waiting for dips before making new entries, with specific entry and stop-loss levels to maximize long-term gains. The analysis includes future performance forecasts.

As the first quarter earnings season progressed, 158 companies, such as Pidilite, Godrej Consumer, NHPC, BSE, and ABFRL, announced their results. Godrej Consumer was projected to show a 46% increase in net profit but a slight dip in revenue. Kotak Securities highlighted growth in domestic volume and various categories.

RITES declared a dividend payment of Rs 2.5 per share, fixing August 8 as the record date to determine eligible shareholders. Shares needed to be owned by today to qualify. Ecoplast Ltd and Selmatic India also set August 8 as the record date for their final dividends of Rs 3 and Rs 1.10 per share, respectively.