Latest Stock Market News

“There is valuation risk in the market even though markets are down around 2,000 points in terms of Nifty. No one actually knew that crude is going to $120. We are still going to see some margin squeeze and growth could get impacted going forward. I would think that this is the time to be cautious and we cannot say that just because price action of 2,000 points has happened in the Nifty. We could still see some further downside over the next few weeks.”

“I am getting more into spaces where there is a good amount of visibility of earnings which are not impacted by domestic demand or rising input prices and there are only a few of those businesses. That is where one may hide for the next few months or so. It is too simplistic to say just buy at every correction. If the crisis lasts longer, it will test everybody’s patience and we are not even talking about the relentless selling which is coming from FIIs.“

Mahindra & Mahindra Ltd., incorporated in the year 1945, is a Large Cap company (having a market cap of Rs 94737.49 Crore) operating in Auto sector.

Gold futures on MCX were trading higher by 0.48 per cent or Rs 251 at Rs 52,021 per 10 grams. Silver futures were trading up 0.45 per cent or Rs 306 at Rs 68,210 per kg.

"The more Nifty consolidates around 16,400-16,500 and fails to sustain at higher levels, it increases the probability of triggering one more round of sell-off to test 16,200 or may even slide below that as well," said Sameet Chavan of Angel One.

​​In the coming days, debt securities could well be back in demand with yield-hungry investors seeking new deployment opportunities after the geopolitical tension recedes.

The interim dividend declared by the company works out to 73 per cent of the paid-up share capital of Rs 183.28 crore.

The issue price has been fixed at Rs 225 per fully paid-up equity share, including a premium of Rs 220 per share, it added.

In another transaction, SCI Growth Investments II sold 2,469,853 shares of Stove Kraft at Rs 645.35 per share, out of which 930,232 shares were bought by Bengal Finance, 310,078 by Nippon India Mutual Fund and 697,674 shares by PGIM India Mutual Fund, data published by BSE showed.

Friday is likely to see the levels of 16565 and 16650 acting as resistance points. The supports come in at 16,450 and 16,400 levels. A bearish engulfing candle has appeared on the chart. Since this candle has emerged following a downtrend and near pattern support, it may mark a temporary reversal point for the markets. However, this will need confirmation going ahead from here.