Latest Stock Market News

Bitcoin (BTC) plunged to multi-month lows on Monday, falling over 14% in 24 hours amid US recession fears and disappointing economic data. This drop reduced Bitcoin’s market value by around $220 billion and led to a 15.9% decline in the global crypto market cap, now at $1.81 trillion.

Promoters held 0.0 per cent stake in the company as of 30-Jun-2024, while FII and DII ownership stood at 12.61 per cent and 6.72 per cent, respectively.

A total of 14,746 shares changed hands on the counter till 02:05PM (IST)

The U.S. saw an unexpected rise in unemployment last month, causing market drops and renewed recession worries. Established recession indicators like the Sahm Rule and inverted yield curve were questioned due to post-pandemic conditions. Federal Reserve Chair Powell emphasized the uniqueness of the current economic situation, highlighting complications in forecasting.

​From a longer-term perspective in a sense like can it be a deep correction for Indian markets? I would not think so. Because the economic linkages of the Indian markets from a liquidity standpoint of view at this point in time are very low, unlike 2008 crisis, where we had lots of leverage coming from international markets and any impact would have impact back home

The drops followed a U.S. jobs report Friday that indicated that employers had slowed hiring significantly in July, with unemployment rising to its highest level in nearly three years. This deepened fears that the economy was cooling and that the Federal Reserve may have waited too long on cutting interest rates.

Trading on Monday saw Tata Motors and ONGC shares fall by 5%, causing the Nifty 50 index to drop by 3%. Shares of Hindalco, Mahindra & Mahindra, and Tata Steel also declined. Britannia, Sun Pharma, and a few other stocks managed gains. The market was influenced by global economic concerns and potential US recession indicators.

A long buildup happens when open interest and trading volumes rise along with the stock price, signaling a bullish market trend. On Monday, five stocks saw new long positions.

The stock traded at a P/E multiple of 11.67, while the price-to-book value ratio stood at 1.18.