Market News
Stay updated with the latest market trends, earnings, and economic indicators.
Muthoot Fincorp FY26 Announces Rs 4,000-Crore IPO, 1:5 Stock Split
Alongside the IPO plan, the Muthoot board also approved a stock split, subdividing equity shares of face value Rs 10 into five shares of Rs 2 each, a move generally aimed at improving liquidity and retail participation.
Nifty faces bearish grip: Key levels to watch and top 3 stock picks for next week
Nifty faces bear control after a weekly slide. The IT sector is under pressure, and Kaynes stock has stumbled. Analysts highlight support at 23,500 for Nifty. Selective buying is advised in Marico, Arvind, and Triveni Turbine for the upcoming week. These stocks show potential for upside movement.
High costs pull India Inc's foreign borrowing down 51%
The rupee ended fiscal 2026 as the worst performer in Asia against the US losing close to 10% of its value in a year marked by record exits from Indian equities by overseas investors amid a global scramble for dollar-based assets. Opening the financial year at Rs 85.59 per dollar, the rupee ended at Rs 94.83. It has since weakened to an all-time Rs 95.96 per dollar.
Benchmarks snap 4-day losing streak; Nifty settles above 23,400
Domestic equity benchmarks Sensex and Nifty snapped a four-session losing streak to close higher on Wednesday, aided by value buying in beaten-down stocks. Market recovered from early volatility and profit booking to rebound sharply from intraday lows, with the Nifty settling above the 23,400 mark. Gains were led by metal, consumer durable and energy shares, while IT and auto stocks remained under pressure. However, overall sentiment stayed cautious amid elevated crude oil prices, persistent foreign institutional investor outflows, rupee weakness and lingering global inflation concerns. The Indian rupee also touched a fresh intraday record low of 95.80 against the US dollar.
Dollar index holds well above 98 mark as US CPI data spurs hawkish sentiment
The dollar index is stabilizing well above 98 mark following a sharp spike in the previous session after US data revealed hotter-than-expected US inflation that reduced expectations for Federal Reserve interest rate cuts. Data released by the Bureau of Labor Statistics on Tuesday showed that the US Consumer Price Index (CPI) climbed 3.8% on year in April, compared to 3.3% in March. This figure came in hotter than the expectation of 3.7% and registered the highest since May 2023. The greenback also gains on the back of uncertainty surrounding geopolitical tensions between US and Iran. The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is staying steady after two days of gains and trading around 98.26. Investors are now focused on the latest producer inflation report for further signals on how the Middle East war is affecting the US economy.
Crorepati investors splurge $1 billion to buy these 10 stocks. Should you follow the smart money?
Wealthy investors are making significant moves, pouring over $1 billion into ten select stocks. This concentrated buying occurs even as their overall portfolio value has decreased. Data shows these high-net-worth individuals are strategically picking specific retail and engineering companies. While some of these chosen stocks also saw price drops, the investors are doubling down on their bets.
Zerodha's Nikhil Kamath backs gold-based stablecoin over dollar-linked crypto; says UPI saved India from a bigger risk
Kamath proposes a gold-backed stablecoin for India to unlock value from idle gold, criticizing the push for dollar-linked digital assets. He lauds India's cautious regulatory stance on cryptocurrencies, suggesting that blockchain could help monetize the vast gold reserves held by households.
India's forex kitty drops by $7.79 billion to $690.693 billion: RBI
India's forex reserves dropped by USD 7.794 billion to USD 690.693 billion during the week ended May 1, the RBI said on Friday. In the previous reporting week ended April 24, the overall reserves had declined by USD 4.82 billion to USD 698.487 billion. The kitty had expanded to an all-time high of USD 728.494 billion during the week ended February 27 this year before the beginning of the Middle East conflict, which led to several weeks of a drop as the rupee came under pressure and the RBI had to intervene in the forex market through dollar sales. For the week ended May 1, foreign currency assets, a major component of the reserves, decreased by USD 2.797 billion to USD 551.825 billion, the central bank's data showed. Expressed in dollar terms, the foreign currency assets include effects of appreciation or depreciation of non-US units, such as the euro, pound, and yen, held in the foreign exchange reserves. Value of gold reserves decreased by USD 5.021 billion to USD 115.216 billio
BSE wants more participation and products, not just a bigger market share, says CEO
Sundararaman Ramamurthy believes India’s mutual fund penetration remains low relative to the country’s population, leaving significant room for growth as financial awareness and retail participation continue to rise.
Pace Digitek secures order worth Rs 702 cr from Damodar Valley Corporation
The contracts with a combined value of Rs 702 crore (including GST), comprise supply contract, EPC services contract and long-term operation & maintenance (O&M) contract. The scope includes design, engineering, manufacturing-linked supply, installation, testing, commissioning and 12-year comprehensive O&M, along with associated civil, structural and evacuation infrastructure works.
V-Mart Retail Q4 profit sinks 39% despite revenue, margin growth; declares dividend
The board V-Mart Retail has recommended a dividend of 10% for FY2025-26. The dividend works out to ₹1 per equity share of face value ₹10 each. Shares of V-Mart Retail Ltd ended at ₹673, up by ₹23.20, or 3.57%, on the BSE today, May 7.
DXY lingers under 98 mark amid increasing prospects of truce between US and Iran
The dollar index continues to linger under 98 mark for the second consecutive day as safe haven demand wanes amid improving prospects of a near term peace deal between US and Iran. Optimism surrounding a potential US-Iran agreement triggered a sharp drop in oil prices, easing inflation concerns, and reducing expectations for a prolonged hawkish Fed. Media reports indicate that the US submitted a one-page memorandum of understanding to Iran that would gradually reopen the Strait of Hormuz and ease the American blockade on Iranian ports. The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is remaining steady after posting nearly 0.5% losses in the previous day and trading around 97.98 during the Asian hours on Thursday.