Latest Stock Market News

Telecom company Vodafone Idea (Vi) has said that itrs board will meet on Thursday to consider issuing equity shares or convertible securities on a preferential basis to its vendors.

The SIP stoppage ratio, which indicates how many SIPs were closed for every new account, reached a record 0.88 in May 2024 compared with the long term average of 0.51 according to the data from the Association of Mutual Funds in India (AMFI).

Nifty is currently placed at the hurdle of 23,400-23,500 levels, This is weighing high for the market to sustain the new all-time highs which creates a possibility of dip in the market. Immediate support is at 23,050.

Ola Electric has received approval from Sebi for the first EV startup IPO in India. Founder Bhavish Aggarwal has informed employees about the nod. The company is eyeing a $7-8 billion valuation through the public offering.

OPEC on Tuesday stuck to its forecast for relatively strong growth in global oil demand in 2024, despite lower than expected use in the first quarter, saying travel and tourism would support consumption in the second half of the year.

As many as 24 of these stocks have seen their share prices surge by over 50% in the current calendar year.

Indian markets witnessing an equity boom with investors realizing profits of Rs 50,000 crore over four years and holding unrealized profits of Rs 1 lakh crore on an AUM of Rs 4.5 lakh crore.

Trent and BEL are expected to enter Nifty in the September rebalancing of NSE indices, as per JM Financial estimates, which are based average free float market capitalisation.

The Nifty Bank could recover losses on Tuesday, breaching the 49,700 mark. If it succeeds to settle above 50,000, there might be chances of a short covering move in the index. AU Small Finance Bank, SBI, PNB and Federal Bank saw buying action while some selling was seen in Axis Bank, ICICI Bank, Bank of Baroda and Kotak Mahindra Bank.

I think there is possibility of earnings upgrade across the sector which includes upstream companies, downstream companies, and to an extent some of the gas entities. So, we are quite positive on the whole sector to begin with.