Latest Stock Market News

Ather IPO: The EV maker expects a spurt of 80% in value from previous funding. Zerodha cofounder Nikhil Kamath, an investor in the company, is set for 150% gains on his stake. Ather is expected to file its updated draft red herring prospectus (DRHP) later this month or the first week of February.

Shares of HCL Tech, Angel One and Delta Corp will be in focus as the companies will announce their third quarter results later today.

A decisive slide below the said support could open the next downside of around 23,260 and lower in the short term. Immediate resistance is at 23,700, said Nagaraj Shetti.

The impact of the jobs report on U.S. rate cut prospects also raised the stakes for consumer price figures on Wednesday where any rise in the core greater than the forecast 0.2% would threaten to close the door on easing altogether.

Oil prices have reached their highest level in over three months due to new U.S. sanctions on Russian oil producers. The sanctions could severely impact Russian oil exports, forcing China and India to source more oil from different regions. This move is expected to raise global oil prices and shipping costs in the coming months.

Equity indices faced losses for the third consecutive session due to economic growth concerns. Notable stock movements included KPIT Tech falling 4.8%, IndusInd Bank 4.2%, and Just Dial 3.8%. Analysts suggest monitoring support and resistance levels for potential reversals or further declines.

Indobell Insulation shares will debut on exchanges. The grey market premium suggests an 85% premium over the issue price. Indobell manufactures insulation products for various industries. It provides tailored solutions and export services. The company generates significant revenue from customized products and is exploring more clients for future growth opportunities.