Latest Stock Market News

A total of 12,695 shares changed hands on the counter till 11:02AM (IST)

“The insurance space has actually been an underperformer for the last one, one-and-half-years and following the Budget announcement also, there has been a sort of a correction. The valuations of the top-notch companies such as HDFC Life and SBI Life, etc, have become very lucrative. I would say that it may still lag in terms of outperformance but I would say that from a longer term standpoint these companies look good.”

“Very high inflation temporarily allows jobs to be adjusted. People do not feel they are getting a nominal wage cut but they get a real wage cut and therefore we can have adjustment in the labour market without job cuts. Psychologically, it is easy to process. We had a small scare because of the US jobs number a couple of weeks ago. I do not think that scare will pan out.”

Axis Bank key Products/Revenue Segments include Interest & Discount on Advances & Bills, Income From Investment, Interest and Interest On Balances with RBI and Other Inter-Bank Funds for the year ending 31-Mar-2022.

“Whenever FIIs or even domestic investors invest, it would not be just because China is doing well, do not invest in India. It will be an independent decision in my opinion. As far as allocation decisions of some of the regional funds are concerned, it may play some role but the big issue is not around that.

Support 61.82% fibonacci retracement level andformed a Bullish outside bar suggesting upside.

From the Sensex pack, ITC, HUL, L&T, Bajaj Finance and TCS were the top losers, falling about 0.5-1.5%. Infosys, Titan, Wipro, Asian Paints and Power Grid also opened with losses. However, Reliance, Tata Steel, Bharti Airtel and M&M opened with gains.

The companies include Tata Steel, JSW Steel, Hindalco Industries and Jindal Steel & Power. However, the companies are hopeful of a turnaround in the ongoing financial quarter.

Wall Street had an upbeat start to the year, lifted by renewed interest in volatile growth stocks battered in 2022 as the Fed raised rates aggressively to bring steep prices under control.

The consumer price index increased 0.5% last month, the Labor Department said on Tuesday, in line with expectations. In the 12 months through January, the CPI increased 6.4% which was the smallest gain since October 2021 and followed a 6.5% rise in December.