Latest Stock Market News

The Dow Jones Industrial Average rose 555.64 points, or 1.65%, at the open to 34,546.65

“We all measure and calibrate the IT companies on a constant currency basis but I would still think that one should buy IT from a longer term perspective and to be ready that in the next two quarters they may not go anywhere or even give some downside. I would be a gradual buyer in IT from current levels.”

The consolidation of Housing Development Finance Corporation and unit HDFC Bank will create a more than $200 billion financial services behemoth, and the parent will be able to tap the bank’s deposits to grow, rather than pile on more debt

Valuation of Sensex is the highest among the emerging market peers, all of whom are trading at 0.9-1.7 times their 1-year forward price-to-book value, the brokerage said in a note

The Nifty Pharma index was trading 0.29 per cent down at 12721.4.

India VIX was down by 3.28% to 12.88 levels from 13.31. Volatility dropped to its multi-month low and has been hovering at lower levels from the last two months.Option data suggests a trading range in between 18,300 and 19,000 zones, while an immediate trading range in between 18,400 and 18,750 zones.

“When the low PE neglected stocks start showing growth for one-two quarters, the market bids them up very aggressively and that is what we are seeing. Chase the growth. If you get growth, value and neglect, that is where the largest money will get made but on the compounding side.”

The latest outflow could be attributed to profit booking amidst the rally in the markets and gold demand in the households for the prevailing wedding season," Priti Rathi Gupta, Founder of LXME, said.While the fund inflow in October was mainly on account of festive season demand as investors might have chosen to buy physical gold.

For more such web stories click on the ET icon below

At present, the top five discount brokers account for 59.1% of overall NSE active clients, up from 58.9% in October 2022. Zerodha remained the top broker with a 24 bp rise in market share to 18.3%; however, it reported a 0.5% MoM decline in its client count to 66 lakh.