Market News
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Why did the stock market fall today? Sensex snaps 4-day winning streak, Nifty slips below 24,400
The Sensex fell 104 points to close at 78,181, while the Nifty 50 declined 32 points to end at 24,399, slipping below the 24,400 mark. The Nifty Bank lost 91 points to settle at 58,201, while the Nifty Midcap Index underperformed, ending 186 points lower at 62,285 after falling more than 300 points from the day's high.
Market's worst phase is over; focus on picking the right stocks, says Quant Mutual Fund's Sandeep Tandon
Sandeep Tandon believes the next few months will reward investors who pick strong companies rather than simply betting on the broader market, with infrastructure, power and select energy stocks among his top bets.
SBI Mutual Fund IPO Review: A Complete DRHP Analysis - Groww
SBI Mutual Fund IPO Review: A Complete DRHP AnalysisGroww
Key factors why Emkay has cut its exposure to large private and PSU banks down to 'zero'
Emkay believes that largecap bank valuations are still above the fair-value zone, despite the multi-year de-rating that the sector has gone through. Therefore, it remains cautious on the space, as the market continues to extrapolate past some of the hyper growth, despite the structural downward shift in growth.
Vatika Hotels refinance Rs 550 crore debt with Kotak
Vatika Hotels has refinanced Rs 550 crore debt with Kotak Mahindra Bank. This move marks the exit of India Special Assets Fund III from the company. The hotel owner experienced financial stress during the Covid-19 pandemic. Vatika Hotels' debt has significantly declined after restructuring and equity infusion. The company now holds a BBB investment-grade rating, reflecting improved financial health.
INR appreciates on improved market sentiment
The Indian rupee appreciated 15 paise to 95.28 against the US dollar in early trade on Tuesday on improved market sentiment after reports that Saudi Arabia has slashed August crude oil prices for Asia amid easing of geopolitical tensions in the Middle East. Lower Middle East risk premium and higher traffic from the Strait of Hormuz kept the oil prices lower. At the interbank foreign exchange market the rupee opened at 95.33 and later touched 95.28 against the American currency, registering a gain of 15 paise from its previous close. Yesterday, rupee depreciated 20 paise to close at 95.43 against the US dollar, as a strengthening greenback weighed on emerging market currencies. Meanwhile, local markets are extending gains amid strong quarterly updates from banking heavyweights like HDFC Bank, favorable monsoon progress, and steady foreign institutional buying. The BSE Sensex was trading at 78,374.76, up by 89.69 points (0.11%), while the NSE Nifty 50 was up 38.90 points (0.16%) at ..
This railway PSU stock surged 8% after bagging a multi-million dollar order; Details here
Shares of RITES are trading 8.1 higher on Tuesday at ₹233.76 after the order win announcement. The stock is the top gainer on the Nifty 500 index today. The stock had made a record high of ₹413.08 on February 27, 2024, from which it has declined over 40%.
Sensex Today | Stock Market LIVE Updates: GIFT Nifty hints at a positive start as index aims 24,500
Sensex Today | Stock Market LIVE Updates: The Nifty is now 50 points away from the May 7 high of 24,482, which will be the first level to track, followed by 24,500. After a two-day break, the Nifty Bank resumed its upmove, but 58,500 remains a barrier. The index remains in the broad 57,500 - 58,500 range.
Kotak AMC, executives seek settlement in Essel Group debt dispute
The case dates back to the 2019 Essel liquidity crisis, when a sharp fall in Zee Entertainment's share price triggered margin calls on pledged shares securing debt held by six Kotak fixed maturity plans (FMPs). The case relates to Kotak Mutual Fund's six close-ended debt schemes (FMPs), which had invested in zero coupon non-convertible debentures (NCDs) issued by Konti Infrapower & Multiventures and Edison Utility Works, part of the Essel Group, the promoter group of Zee Entertainment Enterprises.
Kotak AMC, executives seek settlement in Essel Group debt dispute
The case dates back to the 2019 Essel liquidity crisis, when a sharp fall in Zee Entertainment's share price triggered margin calls on pledged shares securing debt held by six Kotak fixed maturity plans (FMPs). The case relates to Kotak Mutual Fund's six close-ended debt schemes (FMPs), which had invested in zero coupon non-convertible debentures (NCDs) issued by Konti Infrapower & Multiventures and Edison Utility Works, part of the Essel Group, the promoter group of Zee Entertainment Enterprises.
Sensex, Nifty end at highest levels in 10 weeks on HDFC Bank, oil boost
Indian equity benchmarks rose to their highest closing levels in about 10 weeks, supported by HDFC Bank, easing crude oil prices and continued foreign portfolio investor inflows
Nifty closes above 24,400 as rally extends to fourth straight session
Benchmark indices extended gains for a fourth straight session on Monday, supported by broad-based buying. Encouraging Q1 business updates, easing crude oil prices, improving monsoon progress and receding geopolitical concerns lifted sentiment. The Nifty closed above the 24,400 mark. Auto, consumer durables, oil & gas and metal stocks led the gains, while IT and PSU bank shares ended lower. Broader market also remained firm, reflecting sustained buying interest.