Latest Stock Market News

The cost of hedging Indian stocks has surged ahead of the general election’s outcome next week. The NSE India Volatility Index rose 88% in May, the most since March 2020, reaching a two-year high of 24.17% on Thursday.

​It is welcoming move what IRDA has done because it now means that one within three hours in a normal case the insurance company has to authorize the entire documentation and the claim approval has to go through, not only that they are also emphasising that there should be a 100% claim and any claim rejection by the insurance company would internally need internal explanations and approvals.

Rupee appreciated 5 paise to 83.24 against US dollar in early trade on Friday due to robust sentiment in domestic equity markets and downward trend in crude oil prices overseas.

Gold and silver futures open mixed on MCX ahead of US data. MCX Gold shows potential downside with support at Rs 71,700. Neha Qureshi recommends selling MCX gold at Rs 72,200 and silver at Rs 94,000.

TBI Corn IPO, which aims to raise Rs 45 crore, will remain open till June 3. Global maize production increase encourages trade worldwide. Offer structure: 50% for QIB, 35% for retail, 15% for NII investors.

The Nifty Bank index was trading 0.23 per cent up at 48795.6.

A total of 5,003 shares changed hands on the counter till 10:10AM (IST).

The overall market has about 90 million vehicles, which is around pre-COVID levels. However, when broken down by region, Europe and America are still 10-15% below pre-COVID levels, while India and China have ramped up beyond pre-COVID levels.

So, this year is going to be a very crucial year, turnaround in Netherlands, last year was a loss, this year will be a profit at least at an EBITDA level and the UK second half we hope to move from a loss making facility to at least a balanced facility.

A lot of the recent action is due to what we are seeing in global markets as well. So, I am not sure how much of it is solely related to the upcoming elections. However, there is some short-term risk if we close below, say, 22,550, where we are right now.