Latest Stock Market News

Indian equity markets are experiencing a correction due to slowing earnings growth and global factors like rising US bond yields. The weak earnings season, particularly in cyclical sectors, is causing a decline in valuations. Investors are advised to be cautious and consider defensive sectors like IT and pharma, which may offer better opportunities in the medium term.

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.

Indian stock markets, particularly the Bank Nifty, are experiencing a significant downturn, with analysts predicting further declines. Rohit Srivastava of Strike Money Analytics suggests that selling pressure persists and highlights key support levels to watch. He attributes the weakness to a global trend of selling in non-US markets, potentially driven by a strengthening dollar impacting emerging market flows.

Motilal Oswal Financial Services recommends buying State Bank of India shares, projecting a target price of Rs 1,000. The bank reported strong recent quarterly earnings fueled by treasury income and steady growth. While margins slightly dipped, the bank anticipates maintaining them. Credit growth appears healthy, and asset quality has improved, leading to a decrease in bad loans.

However, we remain optimistic about the long-term outlook and believe that India is still in a bull market. We believe that India has entered a phase of multi-year capital expenditure cycle. Furthermore, the macroeconomic fundamentals are strong.

In terms of strategy, the Tata India Innovation Fund plans to select stocks that exhibit transformative changes driven by innovation. This includes identifying companies that stand out at the product, service, or business model levels

The momentum indicator MACD has gone into sell mode again on the daily charts and it continues to remain in the sell mode on the weekly charts.

Oil prices edged lower. Global production is expected to rise. Demand growth forecasts are weak. The US dollar strengthened. OPEC lowered its oil demand growth forecast. The EIA raised its global oil output forecast. Traders await further market data.

Get ready for a busy day in the Indian stock market. Over 1200 companies will reveal their financial performance for the July-September quarter. Keep an eye on major players like Hero MotoCorp and Grasim Industries. Analysts predict growth for both companies, driven by higher sales and improved profitability.