Latest Stock Market News

The stock quoted a 52-week high of Rs 4032.0 and a 52-week low of Rs 3060.0.

​We should expect rural growth to improve from the current level. Large part of it will be seen in the second half of the year and that will drive the overall volume growth for the consumer good companies and it will help also earning growth to be better.

I think you have to be selective here and probably differentiate between life and non-life insurers. If you see the June data, there are some green shoots. Even LIC has had 30% APE growth. APE is your annualized premium equivalent because a lot of policies are also sold as single premium or where the premiums are upfronted. HDFC Life reported a decent set of numbers.

The IT sector is showing signs of bottoming out from a flat to very low earnings momentum. Maybe the stocks will pick up some bit and go to the high single-digit range. Over the next two quarters, the sector should come out of the low growth phenomenon and healthcare is likely to show a decent growth matrix over a year or so, says Vinit Sambre.

Andrew Holland, CEO of Avendus Capital Public Markets Alternate Strategies, anticipates a pre-Budget rally in IT, banking, FMCG, and power sectors, aided by post-election gains, rural spending, and renewables. Key areas include consumer stocks, affordable housing finance, and power financers like PFC and REC. Power cables and the beverage sector also appear promising with increasing power orders.

Sensex and Nifty ended flat. Tata Motors rose 0.93%, gaining 182%, supported by averages and EPS, and in accumulation phase. Avoid Adani Wilmar despite its 1.92% rise. PC Jewellers jumped 10%, rebounding off the 50-day average and hitting strong RSI levels. Target for Tata Motors is 1170. Recommendations for these stocks vary.

The NSE 500 index sees 86% of stocks trading above the 200-DMA, indicating a strong bullish trend. Analysts suggest potential minor corrections but no significant reversal expected soon. Fifth bull run in Nifty 500 continues.

Oil prices declined as Hurricane Beryl impacted U.S. refinaries, lowering Brent futures to $85.75. Gaza ceasefire hopes eased supply concerns. Texas faced significant damage; Kazakhstan to compensate for OPEC+ excess. China’s imports fell, India’s fuel consumption rose. Analysts, including Gelber and Ritterbusch, noted de-risking. U.S. and UK elections may influence outcomes.

The SEC will redraft swing pricing rules for open-end funds, originally met with objections. The 2022 proposal aimed to address market stresses, like during the coronavirus pandemic. Requirements included a seven-day liquidity standard. Chair Gary Gensler consulted banking regulators. BlackRock, Vanguard, and Fidelity previously saw a similar rule scrapped for money market funds, as it jeopardized investments.

Hurricane Beryl minimally impacted Texas oil production, lowering prices. Brent fell to $85.71, WTI to $82.28. Texas, producing 40% of U.S. oil, saw Corpus Christi Ship Channel reopen and Port of Houston resuming operations. Gulf Coast refineries reported minimal impact. A potential Middle East ceasefire in Gaza, with U.S. officials in Egypt for talks, influenced the market.