Latest Stock Market News

​It is worries about a recession. They are somewhat well-founded, a little bit overdone, but nevertheless an expectation of Federal Reserve reducing interest rates in response to those somewhat well-founded worries may be a little bit premature.

SBI showed healthy loan growth and stable asset quality with the lowest retail slippages among large banks. Its loan-to-deposit ratio is 69%, below the sector average. Core NIM improved by 6 basis points QoQ. Nuvama has a positive outlook, and fresh equity from SBI could address stock concerns.

On August 2, six Nifty500 stocks showed a White Marubozu pattern, signaling strong buying pressure and potential bullish trends.

The stock quoted a 52-week high of Rs 9191.1 and a 52-week low of Rs 6406.6.

During the June quarter, retail investors increased their holdings in PSU stocks while mutual funds and FIIs reduced theirs. Stocks like Bharat Electronics Ltd, HAL, and RITES saw higher retail ownership. Analysts noted potential overvaluation in some sectors but highlighted the overall reasonable valuation of PSUs, driven by strong earnings growth and government reforms.

Our view remains bullish on gold. In the $2,480–$2,500 zone, Comex gold faces immediate resistance. If the price crosses this level, it will move into uncharted territory. For silver, we believe the price is likely to consolidate in a broader range of $27 to $32 with a moderate positive bias.