Latest Stock Market News

The 25,000 level is significant given the events and volatility of recent months and weeks. The markets are currently in a euphoric phase, and it’s beneficial to ride the momentum while it lasts. However, some global factors suggest a need for caution, making level-based trading crucial, says Sahaj Agarwal.

Nagaraj Shetti of HDFC Securities highlighted that healthcare, infra, and oil and gas sectors appeared strong, with no signs of reversals. He anticipated a healthy correction in Nifty, followed by a bounce back. The article also mentioned the positive performance of upcoming IPOs and mid and smallcap segments.

FPIs purchased a significant amount of domestic shares in July 2024, amounting to Rs 32,365 crore. This buying trend continued from June, where they also invested heavily. However, there was a period of net selling in April and May, where they offloaded shares. The year began with a negative trend in January, but February and March saw them return as net buyers, making significant investments in the market.

JK Tyre & Industries recorded a 37% rise in net profit to Rs 211 crore for the first quarter of FY25, compared to Rs 154 crore in the same period last year. Despite a slight drop in total income, the company mitigated this with strong export growth and contributions from its subsidiaries.

Eveready Industries India saw an 18.1% increase in Q1 net profit, reaching Rs 29.36 crore, while revenue declined by 3.9% to Rs 349.37 crore. The company attributed the revenue dip to multiple factors, including a high base effect and a slowdown in some products, but highlighted gains from premiumisation and innovation.

Vinit Bolinjkar highlights the power sector as a strong performer, driven by global expansion and robust fundamentals. He also discusses macroeconomic concerns, such as rising interest rates in Japan and the potential slowdown in China, and their implications for the Indian market.

The fundraising plan was announced by SBI along with its April-June quarter earnings where the lender reported a standalone net profit of Rs 17,035 crore, up by 0.9% over Rs 16,884.29 crore reported in the year-ago period. The interest earned during the reported quarter stood at Rs 1,11,526 crore, which was higher by 16% versus Rs 95,975 crore reported in the corresponding quarter of the last financial year.

The past week saw significant volatility in the markets, marking a new lifetime high before facing corrective pressures. Despite maintaining upward momentum and surpassing the 25,000 mark, the markets ultimately succumbed to corrective pressures, closing with a net weekly loss of 117.15 points (-0.47%). Technically, the markets remain vulnerable to profit-taking from higher levels and are significantly deviated from their mean, indicating potential for a corrective move. Volatility spiked with the INDIA VIX rising by 16.92%.

Investors in the 2016-17 SGB Series I scheme have seen their investment grow by an impressive 122% (Rs 3,819) over the initial issue price of Rs 3,119 per gram. This excludes an additional 2.5% interest income provided by the government. The bonds, issued on August 5, 2016, mature eight years after their issue date.

Zerodha Asset Management Company and its founder, Nithin Kamath, were penalized by the Ministry of Corporate Affairs for delaying the appointment of their Chief Financial Officer. The fines amounted to Rs 5 lakh for the company and Rs 4.08 lakh for Kamath. Zerodha has filed an appeal, asserting the delay was not deliberate.