Latest Stock Market News

Revenue is expected to grow by 5.6%, the lowest in nine quarters under observation. Net profit may grow by 11% helped by select companies in the banking, finance, pharmaceuticals and telecom sectors.

Edelweiss Financial Services announced a public issue of Rs 200 crore secured redeemable non-convertible debentures offering up to 11% yield. The issue opens on October 7 and closes on October 18. Funds will be used for repayment of existing borrowings and general corporate purposes.

Hindenburg Research disclosed a short position in Roblox, claiming the gaming platform falsely inflated user metrics, including daily active users (DAUs), which may include bots or alternate accounts. Roblox shares fell 9.2% after the short seller accused the company of misleading investors and regulators.

Sebi has instructed Alternative Investment Funds to carry out due diligence on investors and investments to ensure compliance with laws and prevent illegal activities. This includes special checks for investments from countries bordering India and contributions over 50 percent. AIFs must report the status of existing investments by April 7, 2025.

The Sensex gained 585 points on Tuesday, closing at 81,635. 11 smallcap stocks hit their 52-week highs, suggesting strong performance and potential for future growth.

Gold prices dropped by Rs 400 to Rs 78,300 per 10 grams in the national capital due to fresh selling and a weak global market trend. Silver remained flat at Rs 94,000 per kg. Tensions in the Middle East and US interest rate expectations also contributed to market volatility.

The Indian rupee remained steady at 83.962 per US dollar on Tuesday due to likely Reserve Bank of India interventions, despite pressures from rising dollar index, oil prices, and local equity outflows. Risks of breaching the 84/$1 mark are high amid ongoing economic pressures.

The Indian markets rebounded on Tuesday, with the Sensex gaining nearly 600 points. Utilities, power, telecom, and industrials outperformed, while metal stocks declined. Dr Lal PathLabs and Ipca Laboratories hit record highs.

Akshay Bhagwat from JM Financial Services suggests taking buy positions in Reliance with targets of Rs 2,850 to Rs 2,900 and a strict stop loss below Rs 2,700. He also advises holding or buying Paytm, expecting short to medium-term upside to Rs 950 to Rs 1,000. Technical analysis for market indices and PSU stocks is also discussed.