Latest Stock Market News

The spot prices of gold have remained below Rs 51,000 mark for three straight sessions, whereas silver continues to settle below Rs 63,000 in the same period.

Barring the dollar-pegged USD Coin, all major crypto tokens were bleeding sharply. Avalanche plunged 15 per cent, followed by a drop of 12 per cent each in Solana and Cardano. Dogecoin, Shiba Inu and Ethereum plunged 7 per cent each.

The BSE market capitalisation slipped Rs 4.8 lakh crore to Rs 254.83 lakh crore from Rs 259.64 lakh crore a day ago. About 2,320 stocks on the bourse were down, 447 up and 76 were unchanged.

Revenue from operations, however, rose to Rs 6,585 crore during the period under review, as against Rs 6,132 crore a year ago, TVS Motor Company said in a regulatory filing.

The air conditioning and engineering services company reported a 23.46 per cent decline in its consolidated net profit to Rs 182.71 crore in the fourth quarter ended March 2022, compared to Rs 238.72 crore in the same quarter previous year.

The partially convertible rupee opened at 76.54/$1 as against 76.26/$1 at the previous close. The Indian currency, which was last at 76.71/$1, moved in a band of 76.51-76.80/$1 so far in the day. The yield on India’s 10-year benchmark government bond was last trading 4 basis points higher at 7.44 per cent. Bond prices fall when yields rise.

Ceat’s stock fell to a low of Rs 1,027.50 as against its previous close of Rs 1,090.25 on the BSE.

“There will be strong opportunities over the next two weeks because once the rapid fall starts, then it culminates also very fast and there could be a phase where markets remain low for sometime. That is the time when value investors can get in and buy stocks at good valuations.”

As evidenced by the surge in short-term bond yields on Thursday, the volatility in the gilt market is far from over.

On Friday, the market capitalization of Zomato dwindled down to Rs 45,381.69 crore, its lowest since listing. This is Rs 87,732.69 crore lesser than its peak cap of Rs 1,33,144.38 crore in November when the stock had scaled an all-time high of Rs 169.10. Compared to its issue price of Rs 76, the counter has tanked about 25 per cent. It has wiped off over half its value in the year 2022 so far.