Latest Stock Market News

Three Nifty500 stocks appeared on the "White Marubozu" bullish scanner. This candlestick pattern shows strong buying pressure, with no upper shadow and a small lower shadow.

Gold October futures opened flat at Rs 69,302 per 10 grams, seeing a minor dip while silver September futures increased marginally. Ongoing volatility is expected due to geopolitical tensions and fluctuations in the dollar index, prompting cautious trading.

A total of 15,171 shares changed hands on the counter till 10:05AM (IST)

Goldman sees Airtel’s growth sharply accelerating on the back of last month’s headline tariff hike and estimates the Sunil MIttal-led telco’s India business sustaining around 20% EBITDA growth for the foreseeable future.

On Tuesday, Bharti Airtel, Eicher Motors, and NTPC declared August 7 as the record date for dividend eligibility. Bharti Airtel announced a dividend of Rs 8 per share, Eicher Motors Rs 51, and NTPC Rs 3.25. Yesterday was the final day to buy shares to qualify for these dividends.

The Indian rupee’s status shifted from emerging Asia’s best-performing currency to one of the worst this quarter, driven by stock outflows and high dollar demand. Analysts forecast further depreciation, especially if the Reserve Bank of India turns dovish. Despite RBI’s stabilizing efforts, the currency is anticipated to weaken gradually amidst ongoing market pressures.

Indian benchmark indices plummeted almost 3% on Monday amid global market shocks and concerns over a US economy slowdown. RIL, Bharti Airtel, Vedanta, Tata Power, and other major companies were highlighted due to recent news and quarterly results. RIL’s AGM is on August 29, while ONGC and Airtel disclosed contrasting profit performances.

The index rose by 3,360.39 points to reach 34,818.81 approximately an hour after trading commenced. This increase followed significant declines on Wall Street that were notable, though not as severe as the sharp drop experienced in Tokyo on Monday.

The Cboe Volatility Index had its largest intraday jump on Monday and closed at its highest level since October 2020 due to U.S. recession fears and global market sell-offs. The S&P 500 witnessed substantial declines, causing investors to scramble for hedging strategies, leading to the surge in the volatility index.