Latest Stock Market News

The Relative Strength Index of the stock stood at 66.91 on Thursday.

A total of 17,844 shares changed hands on the counter till 11:16AM (IST)

Ethereum, Polkadot and Polygon rallied between 15-17 per cent each. Cardano, Solana and Bitcoin also posted double-digit rises. The global cryptocurrency market cap was at the $1.06 trillion mark. The total trading volume, meanwhile, jumped more than 40 per cent, close to $88.43 billion.

"If someone wants to enter the markets, they should consider at least a 5-year horizon. Then if we consider the long-term averages of GDP growth and Nifty growth in our country. The GDP average for 21 years was over 12%, and Nifty growth for the same period was around 14%. Investors can expect a similar range of compounding or a little more than that in the range of 20% but they must be patient. An investor must enter the markets with a long-term mindset and ignore the noise."

Mold-Tek Packaging Ltd., incorporated in the year 1997, is a Small Cap company (having a market cap of Rs 2636.40 Crore) operating in Plastics sector.

Short-term traders who missed out on the rally can look at buying the stock now or on dips for a possible target of Rs 4,000 and above possibly in the next six months, suggest experts. The Relative Strength Index (RSI) is nearing the overbought category but there is room for some more upside before the pullback can happen.

A total of 118,437 shares changed hands on the counter till 10:10AM (IST)

Stocks that were in focus include names like L&T which closed with gains of nearly 3 per cent post Q1 results, Shoppers Stop which rallied over 7 per cent, and Tata Motors which ended with muted gains ahead of results.

"The Indian rupee (INR) actually stands out when we compare the performance of all the other major currencies in the world against the US$. There is some pressure on the INR, which may slip further to potentially 82 levels also if the US Fed continues to hike the rate. However, this will not be a major worry for us at this point as the rest of it is well in control."

“The key positive this time around has been that most of the companies have mentioned that the worst of the margins were reported by them in the first quarter and from second quarter onwards, they expect recovery in margins and this is a very positive sign because this means that the earnings downgrade cycle which was a fear in the market is close to its end.”