Latest Stock Market News

Addressing the question on the hotel industry, we find that it has been reaching new highs in terms of occupancy rates. Previously, 65 percent was considered standard for the hotel industry. However, for the first time, we are seeing 70 percent occupancy rates in hotels, marking a new record after a very long time. This bodes very well for tourism.

Above all, if you see the number of direct participants in markets is also increasing. So, somewhere these three steps which are taken, one is transaction tax, if you see its financial impact from the budget perspective or deficit perspective is very limited.

The Nifty Pharma index closed 0.74 per cent up at 20908.5.

The S&P 500 and Nasdaq reached multi-week lows after disappointing earnings from Alphabet and Tesla. Investor confidence in megacap stocks was shaken, causing significant declines in both indices. The S&P 500 saw its worst performance since December 2022, while the Nasdaq had its biggest drop since October 2022. The Dow also posted a notable decrease.

Companies like Adani Energy, Ashok Leyland, Canara Bank, Chalet Hotels, Cyient, Glenmark Life, Laurus Labs, L&T Foods, Mahindra Holidays, PNB Housing Finance, Venus Pipes, Vivanta Industries among others will also declare their results

Shares of Kalyan Jewellers were the top gainer at 6.2%. PC Jeweller, RBZ Jeweller and Vaibhav Global rose between 1.7% and 5%. Titan inched 0.1% higher. TBZ fell 1.8% and Senco Gold fell 1.7%.

Stocks in Japan and South Korea both fell over 2%, with chipmaker SK Hynix Inc. tumbling even with solid earnings. In the US, the S&P 500 slumped 2.3%, its worst showing since December 2022 and one that ended the best stretch without a 2% drop since the start of the global financial crisis.

The Reserve Bank of India mandated banks and payment operators to keep a trail of domestic fund transfers to curb money laundering and frauds. Banks must record beneficiary details and validate transactions with additional authentication. This rule aims to enhance KYC compliance and tackle mule accounts, which have surged recently due to advancements in banking services.