Latest Stock Market News

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.

The Reserve Bank of India advised major banks to stop increasing their positions against the rupee, which had reached record lows. RBI officials contacted the banks to prevent the rupee from breaching the 84/$ level. The central bank also intervened by selling $1.5 billion in the non-deliverable forward market.

On the options front, the maximum Call Open Interest (OI) is at the 25,000 and 26,000 strike prices, while the maximum Put OI is at the 24,000 and 23,500 strike prices. Call writing is observed at the 25,000 and 24,200 strike prices, while Put writing is seen at the 23,700 and 23,500 strike prices. Option data suggests a broader trading range between 23,500 and 24,500, with an immediate range between 23,800 and 24,300.

Tuesday saw Indian markets close marginally lower amid volatility and mixed signals. Companies like Pidilite, Godrej Consumer, and NHPC announced their first-quarter results. Noteworthy financial updates were reported by PB Fintech, Tata Power, and others. In a significant move, Challa Sreenivasulu Setty was appointed as the chairman of SBI.