Latest Stock Market News

Seven NSE midcap stocks showed upward momentum on November 7, with RSI trending above 50, signaling strengthening price momentum and potential buying opportunities, according to stockedge.com data.

The Nifty Realty index was trading 0.53 per cent at 991.25.

The Relative Strength Index of the stock stood at 60.09 on Friday.

Foreign investors pulled out Rs 26,139 crore from Indian bank stocks in October. This was part of a larger withdrawal from Indian markets. FIIs also sold oil and gas, FMCG, and auto stocks. Analysts cite several factors, including US growth and sluggish Indian corporate earnings. However, domestic investors are showing interest in the financial sector.

JB Pharma reported a 16% YoY increase in Q2FY25 net profit to Rs 175 crore, driven by 22% growth in domestic business. Revenues rose 13% to Rs 1,001 crore, while EBITDA grew 13%, maintaining margins at 28.4%.

Neelam Linens has launched its SME IPO to raise Rs 13 crore, offering shares at Rs 20-24 apiece. The Maharashtra-based soft home furnishing company aims to utilize the proceeds for capital expenditure, debt repayment, and general corporate purposes. The IPO opened on November 8 and will close on November 12, with a potential listing date of November 15.

In a recent interview, Mark Mobius, of Mobius EM Opportunities Fund, discussed his investment approach in the Indian market. He highlighted his preference for midcap IT companies and revealed his continued interest in Vodafone Idea. Mobius emphasized his focus on value factors like return on capital and earnings growth, rather than market capitalization.

LIC reduced its stake in key stocks, including Voltas, Lupin, Hero MotoCorp, and Tata Power, lowering its overall share in NSE-listed companies to 7.34% by September 2024.

On November 7, four Nifty500 stocks, including CE Info Systems and KEI Industries, crossed above their 200-day moving averages, signaling potential uptrends, according to StockEdge data.