Latest Stock Market News

We are discovering numerous compelling opportunities for growth and margin expansion in FMCG, metals & mining, and pharmaceuticals. Additionally, our investments in power financing, railways, and capital goods are now attractively valued. The companies in our portfolio offer robust revenue visibility backed by a strong order book and are achieving impressive results driven by improved execution capabilities, says Mohit Khanna, Fund Manager at Purnartha.

Billionaire Gautam Adani’s conglomerate launched a dollar bond sale on Wednesday, following a delay last month due to investor concerns over pricing. Adani Green Energy Ltd., part of the group’s clean-energy business, is marketing a 20-year $600 million note with a yield of around 7.75%, higher than the initial 7% guidance for the postponed October deal.

India strategist Vikash Kumar Jain predicts a potential "Santa Claus rally" in the stock market, projecting a 5-7% rise over the next six to eight weeks. He believes negative factors are already priced in and cites historical December gains.

Despite a broad market sell-off since September, which has seen stocks fall by 15-50%, a select group of stocks with market caps above ₹5,000 crore, including Paradeep Phosphates, Mastek, and Neuland Laboratories, have bucked the trend, with potential for further gains of 10-37% according to analysts.

Public sector banks led a decline in bad loan provisions for the second consecutive quarter, with provisions falling 2.9% to ₹27,318.2 crore in the September quarter. This decline was driven by PSBs like Punjab National Bank and Central Bank of India, while private sector banks saw a 12.5% increase in provisioning.

Global markets reacted with anxiety as Putin threatened nuclear action following Ukrainian missile strikes deep inside Russia, facilitated by the US. European stocks and bond yields declined, while safe-haven assets like gold and the Swiss franc saw gains. The situation escalated after Biden lifted the ban on Ukraine using US long-range missiles against Russia.

Gaja Capital, a mid-market Indian private equity firm, is preparing for an initial public offering (IPO). The firm, known for its investments in companies like RBL Bank and Teamlease, aims to create a pool of permanent capital for new ventures. If successful, Gaja Capital would become the first standalone domestic private equity firm in India to go public.

The Multi Commodity Exchange of India (MCX) will be closed for morning trading on November 20, 2024, due to the Maharashtra Assembly Elections. However, the evening session will proceed as usual. Indian stock exchanges, NSE and BSE, will also remain closed. This closure is in line with the 16 trading holidays announced by MCX for 2024.

Indian stock exchanges closed on Monday for Maharashtra Assembly Election 2024, marking the 14th trading holiday this year. Benchmark indices Sensex and Nifty50 ended flat on Tuesday, with Nifty falling close to 10% from its September high. Foreign portfolio investors continued their selling spree in November.