Latest Stock Market News

With the inflation data in the US pointing towards a possible rate hike, any commentary to that effect will see a reaction from the markets.

ICICI Bank reported a 31-basis-point increase in NIM to 4.31% in the September quarter from a year earlier. NIM is the difference between the yield a bank earns on loans and the interest it pays on deposits, and is considered a key matrix to judge bank profitability. One basis point is 0.01 percentage point.

Benchmark index Nifty50 closed positive for the sixth consecutive session and continued with its higher-high and higher-low formation.

In the last few years, any reference to an increase in interest rates in the US led to a short-term rout in stock markets of many countries including India, and thus the acceptance of the above phrase on Fed sneezing.

In coming days, 500 points of range-bound sessions cannot be ruled out, we feel trader can go for short Strangle where profit will be made within the range of 17,250 to 17,850. However, one needs to be careful on both sides also, as the strategy will start making losses if Nifty moves above or below the given range.

TCPL reported consolidated revenue and EBITDA growth of 10.9% and 5% YoY, respectively. However, recurring PAT declined 20.5% YoY. Constant currency growth was 10%. The gross and EBITDA margin of the company declined 101bps and 73bps. While standalone revenues, EBITDA and PAT were up 7.2%, 25.1% and 20.9% YoY, respectively.

We at Sharekhan Technical Research, have come up with the Muhurat Trading Picks report. It’s a basket of 6 solid trading ideas, which is a mix of long & short trading recommendations. On the long side, we are recommending Nestle India & Eicher Motors from the large-cap space whereas Aegis logistics & Deepak Fertilizers are our midcap picks.

Most recently, with firm demand for wheat and wheat products ahead of the festive season, wheat prices gained by 5 per cent from month-to-date and 2 per cent from the last week. Domestic supplies remain tight due to lower production this year coupled with strong

The relentless flows from these investors alongside domestic institutions has been nothing less than a saviour for the Indian market.​“Retail investors have always been considered as conservative in a volatile and uncertain environment,” said Vivek Goel, co-founder and joint MD at Tailwind Financial Services. Experts believe that this investor community is here to stay and cushion the downside for Indian equities in the near to medium term.

The brokerage believes that digital initiatives and business transformation are key positives to look forward to and Bajaj Finance is currently progressing well with sequential improvement visible across metrics. AUM growth in the company has sustained with demand pick-up across key products and is expected to remain buoyant over the medium term.