Latest Stock Market News

State-owned Bank of Maharashtra is planning to raise Rs 5,000 crore in equity this year as part of a two-year strategy to pare the government stake to 75% to conform to the market regulation.

Sectors like utilities, realty, PSU, energy and oil & gas saw buying action while selling was seen in capital goods and IT stocks.

The Nifty Realty index closed 1.34 per cent up at 1107.9.

The near-term trend of Nifty remains positive. Having sustained above the hurdle of 24,400 levels (1.618% Fibonacci extension), there is a higher possibility of further gradual up move in Nifty towards 24950 levels in the next one week. Immediate support is at 24,450, said Nagaraj Shetti of HDFC Securities.

It signals a shift in view on security from extreme bearishness to bullishness.

Rupee fell 4 paise to 83.55 against the US dollar due to strong American currency and high crude prices. Forex traders and RBI measures, including foreign fund inflows and high FX reserves, partially restrained the fall. Brent crude at $85.14, dollar index 104.21, weak US CPI data, inflows, and record-high FX reserves noted.

HDFC AMC Q1 Results: In the recent quarter, the consolidated profit after tax saw a notable increase of nearly 12% compared to the previous quarter. Additionally, revenue experienced a 12% sequential rise from Rs 695 crore reported in the same period last year. HDFC AMC also recorded revenue from other income amounting to Rs 173 crore.

Any engagement that continues on a national level with Russia, given how important an energy producer it is, will benefit Indian oil and gas companies and that is what some of the market seems to be factoring in that optimism going forward for the next 12 to 18 months, says Probal Sen.

Also, from a populist versus fiscal prudence, I would say that fiscal prudence will take the precedence but some populist measures which will be there which should augur well for the economy from a rural side, lower end of consumption strata. So, those are the things which we are expecting from this Budget.

The public offers of Northern Arc Capital and Shree Tirupati Balajee Agro Trading were approved by the capital markets regulator Sebi, according to the filings.