Latest Stock Market News

A breakout above the wedge pattern on the weekly charts also adds to the conviction that the short-term trend is on the upside, and the stock could retest its 52-week high above Rs 60.70 recorded on 15 November 2021. Short-term traders can look to buy the stock now or on dips towards Rs 50 for a possible target of Rs 65 in the next 1-3 months, suggest experts.

KPIT Technologies Ltd., incorporated in the year 2018, is a Small Cap company (having a market cap of Rs 14759.90 Crore) operating in IT Software sector.

Promoters held 63.99 per cent stake in the company as of 31-Mar-2022, while FII and DII ownership stood at 15.83 per cent and 1.79 per cent, respectively.

BofA Securities noted that the key change in the FOMC statement relative to June was the first sentence: "Recent indicators of spending and production have softened. "By contrast the first sentence of the June statement noted that economic activity had picked up.

A total of 11,206 shares changed hands on the counter till 12:23PM (IST).

The company’s board has approved the sub-division of equity shares in 1:5 ratio, which means each share of Bajaj Finserv having a face value of Rs 5 will split into five shares with a face value of Re 1 each.

The Nifty Pharma index closed 2.33 per cent up at 12628.95.

Ethereum, Polkadot and Polygon rallied between 15-17 per cent each. Cardano, Solana and Bitcoin also posted double-digit rises. The global cryptocurrency market cap was at the $1.06 trillion mark. The total trading volume, meanwhile, jumped more than 40 per cent, close to $88.43 billion.

After being burned on his call for transitory inflation, Fed Chair Powell will likely continue to try to avoid giving any hints on when they could pause, said Edward Moya, Senior Market Analyst, The Americas OANDA. Moya said Powell would not rule out a 75-basis point rate increase for the next meeting, but he did say that it will likely be appropriate to slow rate increases at some point.

"Even after the 75 bps consecutive rate hike by the Fed and indication that "another unusually large increase would be appropriate in the next meeting" the US markets staged a smart bounce back with S&P 500 and Nasdaq rising by 2.62% and 4.06% respectively,” Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said.