Latest Stock Market News

United Spirits shares are close to an all-time high of Rs 1,682.45 due to consistent uptrend since November. Analysts recommend careful trading, suggesting profit booking and avoiding new long positions due to high Relative Strength Index. Traders are advised to buy on dips if the stock holds above Rs 1,450, focusing on support areas around Rs 1,550-1,600.

Hotel and airline stocks plunged up to 6.4% as India confirmed three Human Metapneumovirus (HMPV) cases. The news revived COVID-era fears, triggering sharp declines in hospitality and aviation shares, with notable drops in The Indian Hotels Company and Interglobe Aviation.

Exim Bank plans to raise $500 million via 10-year bonds, with initial pricing at 130 basis points above the US Treasury yield. Analysts expect tightening to 108 basis points. This issuance will benchmark future Indian NBFC dollar fundraising efforts.

Oil prices dipped on Monday amid a strong U.S. dollar ahead of key economic data by the U.S. Federal Reserve and U.S. payrolls later in the week.

Indian benchmarks Sensex and Nifty50 fell over 1% after opening higher, led by declines in banks and consumer stocks amid weak quarterly updates. Four midcap Nifty 200 stocks hit 52-week lows.

ITC shares traded ex-demerger after splitting its hotel business into ITC Hotels, unlocking shareholder value. Analysts expect ITC Hotels’ listing by February 2025, citing benefits like operational focus, higher dividends, improved growth metrics, and strategic investor alignment for both entities.

ICICI Securities predicts gold may reach Rs 85,000/10g and silver Rs 1,10,000/kg in 2025, driven by trade war concerns, central bank gold buying, and industrial silver demand for green technologies. Silver is expected to outperform gold amid market deficits.

The Indian rupee declined to its lifetime low on Monday, hurt by a persistent bearish outlook on the South Asian currency that has been troubled by a broadly stronger dollar and tepid capital flows following a slowdown in economic growth.

The Nifty IT index closed 0.12 per cent at 43674.85.