Latest Stock Market News

"The Indian Rupee opened stronger against the dollar this Thursday morning, tracking a further pullback in crude oil prices," said Sriram Iyer, Senior Research Analyst at Reliance Securities.

A total of 326,989 shares changed hands on the counter till 10:30AM (IST)

Bitcoin has fallen 0.39 per cent in the last 24 hours but was holding above the $20,000 level at $20,412.21, taking its one week slide to 8.8 per cent.

"All exporters will benefit from depreciation of the Indian rupee (INR). The two significant sectors are IT and pharma. IT and pharma contribute 15 percent and 5 percent respectively to Nifty’s earnings and, therefore, INR depreciation can be a tailwind for Nifty’s FY 23 earnings, too. Specialty chemicals, textiles, and certain segments of autos also stand to gain from INR depreciation."

“We have already initiated coverage in Eureka Forbes and Burger King and are looking to add them to the portfolio. Those are two stocks to look out for going forward. A lot of PSU stocks are also looking really attractive. Even Coal India, NTPC and ONGC can be added to your portfolio.”

Elecon Engineering Company Ltd., incorporated in the year 1960, is a Small Cap company (having a market cap of Rs 3025.47 Crore) operating in Engineering sector.

“Normally, the markets tend to bottom out around August-September and we see a good rally going into the year end in the mid-term years for the US markets and that should help us. What will really work out for us is to wait for July-August and let the central bank actions happen.”

The rupee Wednesday lost 0.4% and was the third-worst performing Asian currency after the Philippine peso and Thai Baht. On June 13, the local unit had hit 78.28/$, its erstwhile record low.

Shares of Banas Finance will turn ex-rights today. The company had announced a rights issue of 24 shares for every 25 shares held, offered at Rs 20 apiece.

Allsec Technologies will merge with technology-enabled staffing and outsourcing services firm Quess Corp in an all-stock deal.