Latest Stock Market News

On January 2, gold and silver futures saw modest gains due to a softer US dollar and ongoing geopolitical tensions. Gold February futures rose to Rs 77,900/10 grams, while silver March futures increased to Rs 89,399/kg. Gold prices have risen by Rs 1,356/10 grams this week, and silver by Rs 500/kg, reflecting a weekly upward trend.

Top brokerages like Morgan Stanley and Jefferies have shared optimistic recommendations for Indian stocks. Morgan Stanley maintains a target of Rs 400 for Petronet LNG, expecting demand growth. Jefferies recommends ONGC with a 52% upside, citing limited earnings impact. Morgan Stanley also maintains an "Overweight" rating on Maruti Suzuki India, with a target price of Rs 14,124.

Yes Bank has announced that its loans and advances have grown by 12.6% year-on-year (YoY), reaching Rs 2,45,035 crore as of December 31, 2024, up from Rs 2,17,523 crore in the same period last year

Shares of REC Ltd and PFC surged 2.8% after Emkay Global initiated coverage with a BUY rating, citing sustained loan growth, stable margins, and improving asset quality. Emkay highlights the robust capex plans in the power sector, government reforms, and attractive valuations as key reasons for their optimistic stance on these PSU power financiers.

The Nifty50 Index saw a strong surge, closing at 24,188.65 after activity spiked in Financials, IT, and Auto stocks. The index rebounded from its 200-day EMA, signaling positive market sentiment. Analysts suggest a target range of 24,500–24,600. The Bull Call Spread strategy is recommended to capitalize on moderate upside, with key support at 23,700.

Sandip Sabharwal analyzes mixed auto sales data and positive retail sales, particularly focussing on Avenue Supermarts’ growth. The valuation of D-Mart remains expensive but shows potential for revival. Contrarian opportunities in NBFCs are highlighted, and the impact of ITC Hotels’ demerger on Indian Hotels’ competitiveness is discussed.

A total of 39,001 shares changed hands on the counter till 10:52AM (IST).

On January 3, Wipro, Tech Mahindra, Hero MotoCorp, Alkem, and IndiGo experienced short buildup, with rising open interest and falling stock prices, signaling bearish sentiment in the Futures and Options segment.

The Nifty Auto index was trading 0.32 per cent at 23939.35.

Promoters held 0.0 per cent stake in the company as of 30-Sep-2024, while FII and DII ownership stood at 24.94 per cent and 3.57 per cent, respectively.