Latest Stock Market News

Sabharwal sees market correction due to weight, not elections. Global markets flourish, India shifts investments to China. Sabharwal says: "My base case is continuity and to that extent we would be more near 12% to 15% cash and waiting to buy into stocks and sectors which we think would offer outperformance potential over the next one year."

Sumit Bhatnagar says: "Power, defense and capex are structural themes that are expected to play out over the next decade. While the space has seen significant re-rating and a significant portion of returns are priced in, I believe these themes still appear attractive from a medium to long term perspective."

Indian indices fell due to auto and IT stocks amid Lok Sabha elections. Sensex and Nifty down, India VIX surged. Top laggards include Tata Motors. Sun Pharma and HUL gained.

Anand Janes ssays SBI and Nifty PSU Bank Index are showing recovery signs, while the VIX rise could affect post-election Nifty mofvement. Paytm is hinting at possible upside. STLTECH and MARICO broke trend channels, indicating potential price increases. James further says that we are going to see a pullback in PSU bank stocks in the near term.

“Options data suggests a broader trading range in between 21500 to 22500 zones while an immediate range between 21800 to 22300 levels,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.

A total of 25,371 shares changed hands on the counter till 10:04AM (IST).

Veritaas Advertising SME IPO opens to raise Rs 8.5 crore, offering shares at Rs 109-114. Proceeds to fund capital expenditure, lead managed by Horizon Management.

59 companies, including Zomato and Varun Beverages, to reveal Q4 results for March 2024. Jindal Steel, Tube Investments, AB Capital also share earnings. Zomato expects 75% y-o-y revenue growth, 48% q-o-q net profit rise.

When the closing price falls below the VWAP, it signifies that the closing price is lower than the average price at which it was traded throughout the day, with the average being weighted by trading volume.