Latest Stock Market News

The Reserve Bank of India is increasingly shifting its forex intervention to the forwards market to keep from injecting rupee liquidity, according to traders and economists, including Madhavi Arora of Emkay Global Financial Services Ltd. The monetary authority is also signaling a taper to its outright bond purchases, or even do away with them totally, from next quarter, some of them said.

Reliance Jio’s decent rural show was driven by strong rural consumer appetite for its cheaper offers on its 4G feature phone, JioPhone, that its older rivals couldn’t immediately match, said analysts.

Tejas Networks said it has bagged an optical network expansion deal from Bharti Airtel, propelling its shares to hit the 5% upper circuit to close at ₹414.80 on the BSE on Thursday.

BNP Paribas Arbitrage Fund today sold 475,000 shares of Home First Finance at Rs. 575.2 apiece through a bulk deal on the National Stock Exchange.

As of June this year, the value of FII investment was only $592 billion, which means that as the market rallied frenetically, their holding value jumped by $38 billion even though their net incremental investment was almost nil between this period.

The company plans to strengthen its presence in Bangalore and enter the Hyderabad market with an initial investment of Rs 1500 crore. These two markets will contribute 35 per cent, while Chennai will contribute 65 per cent of its total revenue.

Upon delisting of its ADS program, the company will concentrate all trading of its equity shares on BSE Ltd and the National Stock Exchange of India Ltd in India (NSE), the filing said.

For the bears that were counting on the Evergrande crisis to blow up and initiated short positions in Nifty50 and Nifty Bank’s September contracts, the overnight developments were bad news. Today, those short positions were covered hurriedly, causing a mild short squeeze in banking stocks.

Pattern analysis showed after a minor violation of the basing point near the 17 350-17,400 zone, Nifty has rebounded on its way to a fresh high.

The Dow Jones Industrial Average rose 37.98 points, or 0.11 per cent, at the open to 34,296.30.