Latest Stock Market News

“One should look pure bottoms up and look at the size of the opportunity and within that opportunity, can play depending on the various valuation and quality ratios.”

Analysts see support for the index at 17,100 while they see resistance at 17,300 level.

The company may also consider raising Rs 131 crore by issuing equity shares through a preferential offer.

India is seeing a doubling of Omicron cases every four days and many experts are viewing it as the start of a third wave in the country. Despite reports saying the variant is milder, numbers of infections are expected to surge significantly. The 30-share pack Senex declined 90.99 points or 0.16 per cent to close at 57,806.49.

"I am extremely bullish on the economy as the Tsunami of retail investors gives me a lot of confidence that CY2022 is going to be the year of small and midcaps."

The partially convertible rupee settled at 74.7350 per US dollar on Wednesday as against 74.65 at the previous close. The Indian currency, which had opened at 74.6900 per US dollar, moved in a band of 74.6775-74.8425 against the greenback in the course of the day.

The Nifty Auto index closed 0.42 per cent up at 10829.55.

“The telecom industry has implemented long-awaited tariff hikes, which has the potential to improve industry ARPU levels (excluding BSNL) to around Rs 170 by end-FY23,” ICRA said in a media statement Wednesday.

A total of 280,015 shares changed hands on the counter till 02:05PM (IST)

The Relative Strength Index of the stock stood at 51.29 on Wednesday.