Indian frontline indices ended in the red on Friday, recording their second successive losses amid selling pressure in auto, bank, and FMCG stocks. The BSE Sensex fell by 588.90 points, or 0.74%, to 79,212.53, while the Nifty declined 207.35 points, or 0.86%, to end the day at 24,039.35.Commenting on the day’s action, Rupak De, Senior … Read more
The combined market valuation of eight of the 10 most valued domestic firms eroded by Rs 2 lakh crore last week, with Reliance Industries taking the biggest hit in line with a bearish trend in the broader stock market. Equity benchmark indices Sensex and Nifty extended their downward trend to the eighth day in a … Read more
The combined market valuation of all the top-10 most valued firms plunged Rs 4,95,061 crore last week, in line with a bearish trend in equities, where Tata Consultancy Services and Reliance Industries faced the sharpest erosion. Last week, the BSE benchmark tanked 4,091.53 points or 4.98 per cent. “The Indian equity market recorded its steepest … Read more
A long bear candle was formed on Nifty’s daily chart, which indicates a continuation of steep downside momentum. The positive chart pattern like higher tops and bottoms on the daily chart seems to have been negated by Nifty moving below the last higher bottom of 24,753 levels in today’s session. The underlying trend of Nifty … Read more
Shares of speciality chemical company GRM Overseas have offered massive returns to investors in the last 10 years. The shares have risen 10433% over the decade. Accordingly, if an investor had invested Rs 10,000 in the stock 10 years ago and stayed put, the investment would have swelled to Rs 10 lakh, according to an … Read more
Shares of foodtech firm Zomato would be in focus on Monday following narrowing of its loss in March quarter. Sumeet Bagadia, Executive Director, Choice Broking, says the stock has shown support around Rs 58-55 while resistance is around Rs 75-80. “Short-term prospects in this stock might be appealing to risk-taking investors,” Bagadia says. Edited excerpts:Nifty … Read more