Latest Stock Market News

The Nifty Pharma index closed 0.25 per cent up at 12982.4.

The festival season which starts in mid-August and runs long till early March and when matched with the history of how consumption has progressed over the years, we believe that this year is going to be no different. We are highly positive on consumption stock ideas and Borosil ltd. is one of them. The company commands a 60% market share in microwaveable and heat-resistant glassware products over the last few years. The robust capex plans and upcoming demerger make Borosil our Diwali pick."

​​​Among Sensex stocks, Wipro, UltraTech Cement, M&M, ICICI Bank and Maruti were the top gainers, rising over 1 per cent. Bharti Aitel, L&T, HCLTech, Tata Steel and Asian Paints also opened higher.

Despite the overnight decline in the dollar index and the risk-on sentiment, Asian currencies were mostly either flat or lower. The measured response of US bonds to the fall in US bonds likely impacted demand for Asian currencies.

Craftsman Automation Ltd. key Products/Revenue Segments include Engineering, Sale of services and Other Operating Revenue for the year ending 31-Mar-2021.

Though, minting a quick buck on Dalal street is not an easy feat for all. Analysts believe select stocks are ready for a breakout and can deliver strong returns on a positional basis.

“We believe the negatives because of the recession in Europe and the US are going to weigh down the IT pack. We believe that the valuations of this entire pack are far away from their average multiples. So we expect a softening not only in price but also a time correction to play out.”

On the technical charts, the 200-day moving average of the stock stood at Rs 5147.48.

The rally in these boring sectors was because of the revival in the capex cycle. After a long time, there has been capacity expansion in these sectors. The earnings visibility has improved. As all the macro factors are coming together, these sectors are going to benefit because of the uptick in the overall economic activity,” equity strategist Kranthi Bathini of Wealth Mills Securities told ETMarkets.

“Investments are rather for diversification and not only for absolute returns. China gives a good opportunity to diversify our investment outside India. From a distance, India as well as China seem to have a similar story while China may have been a decade ahead of India but the demographic opportunities are equal. I think it is a good way to diversify another potential superpower over the next 10 years.”