Latest Stock Market News

The S&P/ASX 200 index rose 0.25% to close at 7,425.2 after rising as much as 0.4% earlier, as financial stocks fell amid signs of higher inflation in the US financial markets. The benchmark ended 0.5% higher on Friday.

The Hang Seng index fell 1.5%, to 25,813.81, while the China Enterprises Index lost 1.6%, to 9,238.99 points.

The pan-European STOXX 600 index was up 0.4% after hitting a three-week low last week. Asian stocks, however, fell following news of fresh regulatory crackdown on Chinese firms.

On the National Commodity and Derivatives Exchange, coriander contracts for September eased by Rs 448, or 5.63 per cent, to Rs 7,506 per quintal in 2,440 lots.

“There are some stock picking opportunities within the large automobile and auto ancillary space and in the financials universe.”

“For Reliance to suddenly come out and say that the JioPhone Next is not being launched because of chip shortage, sounds very intriguing to me. The last Rs 200 move has been because of the excitement around that.”

The stock has delivered a whopping 2,700 per cent return since hitting its lifetime low in May last year. Such has been the demand for the scrip that in the past 37 sessions, the stock hit the 5 per cent upper circuit in all but one session. Consequently, it has nearly tripled in the past month.

"I see absolutely no reason why we will not be adding more regions. See, now the world is the audience for anyone. It is no longer a domestic-alone revenue game. You go picking up new orders across the world and move alongside your OEMs. Wherever they are present, you also are."

Brevan, more famous for its bets on macroeconomic trends, has been among the most high-profile of major funds moving into the fledgling world of crypto trading, known for its highly volatile markets and scope for outsize gains.

The stock traded at a P/E multiple of 31.9, while the price-to-book value ratio stood at 1.58.