Latest Stock Market News

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.

The euro has tumbled to one-year lows against the dollar, fueled by fears of U.S. tariffs hurting the eurozone economy. While some analysts believe the euro could reach parity with the dollar, others see potential for a rebound, citing factors like faster ECB rate cuts and a potential boost to the German economy.

Four companies, including Manappuram Finance, are approaching their ex-dividend date on November 18th. Investors have until today to purchase shares and qualify for dividend payouts. CFF Fluid Control, Emami Ltd, and Sundaram Fasteners also announced their respective interim dividends.

Eicher Motors recorded a standalone net profit of Rs 1010 crore in the second quarter of 2024. Revenue rose to Rs 4,205 crore. Royal Enfield sold 2.25 lakh motorcycles. The company launched two electric motorcycle models under the brand Flying Flea. VECV, the commercial vehicle arm, achieved its highest-ever Q2 performance.