Latest Stock Market News

Many analysts are cautious about high valuations amid looming demand slowdown but say there are enough stock picking opportunities in the broader market as several pockets have not participated in the rally.

The S&P 500 has gained an average of 1.6% during December, the highest average of any month and more than double the 0.7% gain of all months, according to data from investment research firm CFRA. September, meanwhile, is the worst month of average for stocks, with a 0.7% average decline.

In addition, Sebi has extended the deadline to January 27 for the implementation of the framework on validation of instructions for pay-in of securities from client demat account to trading member pool account against obligations received from the clearing corporations.

The Dow Jones Industrial Average rose 19.0 points, or 0.06%, at the open to 34213.04

In August, the general insurance firm filed draft papers seeking approval from the Securities and Exchange Board of India (SEBI) to go public. The capital markets regulator had sent a written back to the investment bankers handling the IPO for certain clarifications in October and is awaiting a response.

"Stock brokers shall deploy adequate monitoring mechanisms within their networks and systems to get timely alerts on current utilisation of capacity going beyond the permissible limit of 70 per cent of its installed capacity," Sebi said.

As reflected by the fear gauge index India VIX, volatility has been cooling off for the last nine weeks and supporting the bulls to hold at higher zones. The momentum indicator has reached the falling trendline on the daily timeframe.

"The board has approved the buyback of fully paid up equity shares having a face value of Re 1 each of the company at a price not exceeding Rs 200 per equity share and not exceeding Rs 98 crore payable in cash via open market route," IEX said.

With the September 2022 quarter result season over, both domestic and global brokerage firms have initiated coverages on a handful of stocks across the sectors including IT, housing finance, plastic pipes, QSR, manufacturing and infra.

"We expect the Nifty to be positively biased. FIIs have started the series with 77% longs in index. Every time Bank Nifty leads the rally, it has more strength. We expect the same, at least in the first fortnight of December. So, the indices might be in 18,100-18,800 and 42,000-44,500 might range for the indices and 18,100 and above the bias is positive for the December series."