Latest Stock Market News

The Dow Jones Industrial Average fell 65.4 points, or 0.19%, at the open to 34,727.38.

BofA felt that despite markets correcting since the October 2021 peak, the prevailing 1-year forward Nifty valuations at 19.2 times look elevated given global geopolitical, monetary tightening and elevated inflation backdrop.

The company reported a profit of Rs 52 crore, down 31% year-on-year, despite a 22% jump in revenues to Rs 808 crore.

The MPC minutes reflect the urgency to rein in consumer prices, but there are some hints that the rate-setters at Mint Street are not considering going all guns blazing when it comes to raising interest rates.

Adani Group flagship Adani Ports SEZ on Friday said it has agreed to acquire a 100 per cent stake in Ocean Sparkle Limited, which is a leading third party marine services provider, for Rs 1,530 crore. It is engaged in the business of port operations and marine services.

The creditors voted on Thursday in a National Company Law Tribunal (NCLT) mandated process to seek shareholders’ and creditors’ approval for a deal that has been lingering for 20-months amid opposition from Amazon. The struck down of the Reliance transaction by the creditors has now make it imminent for Future Group to go into bankruptcy, experts said.

Meanwhile, the upcoming announcement of the IPO of LIC may also suck some liquidity out of the market and put some near-term pressure on the secondary markets.

According to a sustainability think tank called Thinkthrough Consulting, the Bitcoin network consumed 131.80 TWh (terawatt-hours) of power in 2020 in order to execute the algorithms that power its mining operations. For context, that is the equivalent to the power consumed by the entire country of Argentina.

Normally, a formation of Doji after a reasonable decline or upmove signal impending reversal after the confirmation, said Nagaraj Shetti, technical research analyst of HDFC Securities.

“Traditionally motor has been the biggest segment but this year, for the first time, health constitutes about 33% of the market and motor roughly about 30-31% of the market. We are reasonably back to normal frequency in terms of claims and we are seeing some amount of inflation. So, we have taken some single digit price increases in the motor segment for the private cars. We are optimistic about the motor segment looking ahead.”