Latest Stock Market News

The stock is trading above crucial short-term moving averages such as 5, 10, and 12 DMAs but below most of the long-term moving averages such as 100, and 200-DMAs.

Interest rate hikes have already begun, and we expect increased volatility as we head to a tighter liquidity situation. Looking at the reaction in financial markets across the world, especially Nasdaq and other asset classes like crypto, it is clear that easy liquidity played a significant role in bull markets in the past. When liquidity tightens, the reaction can be violent. Hence, we are cautious on markets in the short term.

“FMCG companies would face some challenges in the near term. Somewhere in the April to June quarter, the pressure on margin could remain on the higher side but that is where the premium valuations get corrected and good quality companies are available at comparatively cheaper valuations. So if the valuations go down significantly, then probably it is a case to buy.”

Bajaj Consumer Care Ltd., incorporated in the year 2006, is a Mid Cap company (having a market cap of Rs 2242.61 Crore) operating in FMCG sector.

“FMCG is one space where surprisingly the results were pretty decent and better than what people have expected. So, though valuations are still a little stretched, looking at how the margins were under pressure can improve once the input prices come down because most of these companies, even HUL, have taken some price increases. If there is any margin improvement, that will give them a good boost to profitability going ahead.”

The Dow Jones Industrial Average fell 653.67 points, or 1.99%, to 32,245.7, while the S&P 500 lost 132.1 points, or 3.20%, to 3,991.24, its lowest close since March 31, 2021.

For the immediate short term from hereon, it would be extremely crucial for the index to defend the 16,000-16,150 support zone to avoid any incremental weakness.

Sebi had carried out an investigation in the matter of Unpublished Price Sensitive information (UPSI) in the scrip of Infosys to ascertain if market norms, including the Prohibition of Insider Trading (PIT) regulations, were violated.

According to block deal data available with the BSE, Merrill Lynch sold 4,80,440 shares at an average price of Rs 714.65 apiece, taking the transaction size to Rs 34.33 crore.

The local gauge closed at 7.30% versus 7.47% Monday. When bond yields fall, prices rise.