Latest Stock Market News

IEX is currently in a short-term downtrend, trading at Rs 198.97 after pulling back from higher levels. The stock has formed an inverted flag and pole pattern on the daily chart, indicating a potential breakdown and downside risk.

Lemon Tree Hotels announced a new property in Ayodhya, set to open in FY 2028, managed by Carnation Hotels. On Monday, shares closed at Rs 113.9, down 3.5%, while the Sensex fell 0.78%. Year-to-date, shares are down 4% but up 122% over three years.

After falling to a 14-month low in September, the oil prices have taken a u-turn amid growing tension between Israel and Middle East nations including Iran. On Monday, Brent oil prices shot-up to levels above $80 per barrel for the first time since August.

Gold prices have fallen by Rs 500/10 gram in the last one week, while silver prices have remained flat, gaining merely Rs 150/kg.

Indian equity indices S&P BSE Sensex and Nifty50 opened higher on Tuesday amid ongoing Middle East conflict, with the Sensex trading 145 points up and Nifty50 rising 24 points. Key market influences include upcoming RBI commentary and quarterly earnings. Early trading saw gains in M&M, SBI, HUL, and losses in Tata Steel and Ola Electric shares.

Several banks, including IndusInd Bank, AU Small Finance Bank, Karnataka Bank, and Ujjivan Small Finance Bank, have reported higher non-performing assets (NPAs) for Q1 FY25 compared to Q4FY24. Investors with banking stocks should closely monitor these figures as the Q1 results approach to understand potential impacts on their portfolios.

Sebi has approved the IPO of National Securities Depository Limited (NSDL). The offer for sale will include 57,260,001 shares, with major stakeholders like IDBI Bank, NSE, and SBI reducing their stakes. NSDL is the largest depository in India. The company’s shares will be listed on BSE. Several banks and financial institutions are key stakeholders in this IPO.

Mark Mobius, Chairman of Mobius Emerging Opportunities Fund, discusses his investment strategy. He recommends 90% of investment portfolios be in equities and 10% in gold. For global equity allocation, he suggests 20-30% each in India and Taiwan, and 10% each in China and Korea, with remaining investments in other emerging markets.

The Nifty Pharma index was trading 0.65 per cent up at 23127.3.