Latest Stock Market News

2021 has seemed eerily similar to 2000. There have been millions of ‘lucky people’ on the planet in the last couple of years. The pandemic rid millions of jobs. The stock market gave those millions the keys to the kingdom, by giving them full-time investing/trading jobs. We have reached 2022, in one piece, but with a planet full of highly confident 25-35-yearolds. Is this going to end well?

Axis Bank, SBI Cards, HDFC AMC, Deepak Nitrite, Shriram Transport Finance, Supreme Industry and Indian Energy Exchange are among the companies that will announce their December quarter results today.

Oil prices jumped on Monday as geopolitical tensions in Eastern Europe and the Middle East heightened concerns about an already tight supply outlook, while OPEC and its allies continued to struggle to raise their output.

The trading volumes remained light with many investors continuing to assess troubling economic conditions and a pronounced decline in equity markets. The global crypto market cap added over a per cent to $1.63 trillion. However, the total crypto market volume dropped about 36 per cent to $83.93 billion.

Ravindra Rao, CMT, EPAT, VP- Head Commodity Research at Kotak Securities said that gold trades higher supported by geopolitical tensions relating to Russia, increasing inflation concerns, rising virus cases, sell-off in equities and pick up in ETF buying.

A handful of analyst estimates suggest up to 39 per cent potential upside for the stock.

Provisions for the quarter plunged 82.1 per cent YoY to Rs 375 crore against Rs 2,089 crore in the year-ago quarter.

“It is going to be the export oriented sectors like IT, textiles and metals where earnings have held up and that is good news for the market,” says Chakri Lokapriya.

"FPIs again turning big sellers is a major headwind," said VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, who said investors have to move cautiously.

OVL had registered a major gas discovery in 2019 in its deep offshore block BM-SEAL-4, Brazil, located in the Sergipe Alagoas Basin, PTI reported. Brazil’s Petrobras is the operator of the block with 75 per cent Participating Interest (PI) while OVL has the remaining 25 per cent stake, PTI’s report said.