Latest Stock Market News

Another expert, Deepak Jasani, Head of Retail Research at HDFC Securities, said the RBI would take a call on rates going forward based on variables like the interest rate movement in other economies, the inflation trajectory in India, and the updated monsoon forecast. He added that the central bank could hold rates for at least one more time

"Gold demand in the domestic market is likely to improve after recent correction in prices and ahead of Akshaya Tritiya which is considered as an auspicious occasion for buying gold," Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, said

Indian independent analyst Anand Tandon believes it is difficult for large IT companies to create a significant niche that will move the needle overall. While smaller niches, such as travel, may continue to report positive numbers, Tandon argues it is unlikely such niche firms can outlast an overall downswing in terms of valuations of the sector. Meanwhile, he sees a similarly challenging scenario for the auto ancillary space, with the world market "not exciting" and weak US order books causing Bharat Forge to suffer. Explaining he prefers to look at OEMs directly, Tandon recommends buying front-end auto companies.

Foreign portfolio investors (FPIs) increased their ownership in the company in the last quarter. The cumulative holding of category-I FPIs was 12.87% at the end of March quarter, up from 12.51% a quarter ago.Meanwhile, sequentially, insurance companies’ total holding in the March quarter dropped marginally. Insurance majors, including Life Insurance Corporation of India, cumulatively held 20.40% stake at the end of March quarter, against 20.44% a quarter ago

"One word that describes our economy and equity market for FY23 is ‘resilience’. We were able to face the tough situation with minimal damage. India’s robust macroeconomic position is a result of multi-year structural policy reforms that enabled growth and high government expenditure in the budget over the last few years," the MarketSmith India report said.

Strategists from BlackRock Investment Institute, the research arm of the world’s largest asset manager, recommend “breaking up traditional asset allocation buckets, moving away from broad allocations to public equities and bonds,” according to a Tuesday note.

On the launch of the fund, Ritwick Ghoshal, Managing Partner and CEO of Bay Capital, said, “We at Bay Capital, invest in franchises led by quality management teams that are market leaders, who have strong competitive advantages, possess deep, entrenched moats that can translate into consistent compounded earnings. We look for companies having high returns on capital and that generate cash flows over the long term.”

"Bitcoin (BTC) has dropped below $30,000 as a reaction to a new stablecoin bill being flouted in the US. It enjoys strong support at $28,600 which is likely to hold and give strength to refuel its current rally," Vikram Subburaj, CEO of Giottus Crypto Platform, said.

The Relative Strength Index of the stock stood at 31.75 on Tuesday.

Ethereum has over 550,000 validators. Millions of users with smaller holdings have deposited their ETH to staking pools. Post the upgrade, these holders can ‘unstake’ or withdraw the ETH and their rewards. The upgrade was successfully completed late Wednesday and staked ETH withdrawals began processing smoothly.