Home Business Stock Market LIVE: Broader indices trade firm; Adani shares rally up to 3% | News on Markets

Stock Market LIVE: Broader indices trade firm; Adani shares rally up to 3% | News on Markets

0
Stock Market LIVE: Broader indices trade firm; Adani shares rally up to 3% | News on Markets

10:46 AM

VIEW: Market may take new direction from April


Market is likely to continue in the consolidation mode for a couple of days more and then take a new directional trend starting April. The undertone of the market continues to be bullish supported by strong economic fundamentals.


 


A significant structural trend in the market is the sustained flows into equity mutual funds which are gathering momentum. This will ensure resilience of the market with dips getting bought.


 


Midcaps have again become the segment of activity, particularly by retail investors. This is because there is no institutional selling pressure in midcaps unlike in largecaps where institutions including FIIs have large holdings.

 

Financials are likely to lead the rally along with capital goods and automobiles in early April. Credit growth in the economy is impressive at around 20% and this will help boost banks’ profitability. Q4 results of banks will be good.

Views by V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

10:30 AM

China’s industrial profits rise 10% showing signs of stabilising economy

China’s industrial firms posted higher profits in the opening months of the year, official data showed on Wednesday, reinforcing signs that an economic recovery was gaining traction despite persistent sluggishness in the property sector. Read

10:16 AM

S&P Global downgrades outlooks on 5 regional US banks to ‘negative’


S&P Global downgraded its outlooks on five regional U.S. banks to “negative” from “stable” due to their commercial real estate (CRE) exposures, the ratings agency said on Tuesday.

 


It downgraded First Commonwealth Financial, M&T Bank , Synovus Financial, Trustmark and Valley National Bancorp. Read
Banks credit growth

9:55 AM

Aster DM, CDSL dip up to 7% after 10% equity changes hands via block deals


Shares of Aster DM Healthcare and Central Depository Services (India) (CDSL) slipped up to 7 per cent on the bourses in an otherwise firm market after huge block deals executed on these counters.

 

Shares of CDSL were down 7 per cent at Rs 1,675 on the National Stock Exchange (NSE) in intra-day trade after over 10 per cent equity of the company changed hands. Around 10.7 million equity shares representing 10.23 per cent of total equity of CDSL changed hands on the NSE till 09:17 am; the exchange data shows. Read

Stock broker, broker, trader, market, markets, stock markets, stock, market crash, market fall, loss

9:47 AM

Sanofi gains over 2% on inking distribution pact with Cipla for CNS products

Both companies announced on Tuesday an exclusive partnership to boost access to Sanofi’s Central Nervous System (CNS) medications across India.

Cipla will leverage its extensive network to distribute Sanofi’s CNS portfolio, including Frisium, a leading anti-epileptic drug. Sanofi will retain ownership, import, and manufacture of the CNS products.

9:44 AM

APL Apollo Tubes slips on acquiring 54% in KML

It completed the acquisition of 53.57 per cent share capital and voting rights in KML on March 26, 2024, making it a subsidiary.

9:42 AM

CDSL plunges 5% on likely exit by Standard Chartered via block deal


Standard Chartered Bank-corporate banking was likely to sell entire 7.18 per cent stake in CDSL for $151 million through a block deal, reported CNBC-TV18. 

9:35 AM

RIL jumps 2% as Goldman Sachs raises target price on stock

Reliance Industries has a potential upside of as much as 54 per cent, according to brokerage firm Goldman Sachs’ bull case scenario estimates for financial year 2026.

Based on the bull case estimate, Goldman Sachs expects the share price to reach Rs 4,495 by financial year 2026, reported CNBC-TV18.