Latest Stock Market News

The partially convertible rupee opened at 77.3660/$1 as against the record closing low of 77.4650/$1 on Monday. Yield on the 10-year benchmark bond was last at 7.37 per cent as against 7.46 per cent at previous close. Bond prices and yields move inversely.

The company’s share price climbed to a high of Rs 824.40 as against Rs 757.20 at previous close on the BSE.

While crypto enthusiasts view Bitcoin as a hedge against inflation, an influx of more traditional investors tend to view it as a riskier asset, particularly to its fall in tandem to the tech-heavy Nasdaq, leading to correlations between the two.

“Valuations are quite reasonable for financials and ‘value’ stocks,” Kotak Institutional Equities said.

The stock has been making higher highs and higher lows on the weekly charts which is a positive sign for bulls. It has rallied more than 40 per cent so far in 2022, data showed.

Polycab India Ltd., incorporated in the year 1996, is a Mid Cap company (having a market cap of Rs 36159.99 Crore) operating in Consumer Durables sector.

On the technical charts, the 200-day moving average of the stock stood at Rs 736.33.

The 30-share BSE Sensex was down 26.41 points at 54444.26

Gold futures on MCX were up 0.01 per cent or Rs 7 at Rs 50,966 per 10 grams. However, silver futures were trading higher by 0.41 per cent or Rs 253 at Rs 61,750 per kg.

The multiplex chain is planning to open 125 new screens across India in the current financial year as it kick-starts an ambitious growth plan after the Covid-19 disruption.