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Canara Bank Share Price Today Live Updates: Canara Bank Jumps 5% Post Stock Split; up 8% in Last Three Sessions.

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Canara Bank Live Share Price: A total of 7,39,996 retail investors owned 6 per cent stake in the bank while 337 HNIs including Rekha Rakesh Jhunjhuwala (1.45 per cent stake) owned a combined 4.65 per cent stake in the PSU lender.

119.50 INR+6.20 (5.47%)today

Open116.25
High119.55
Low116.00
Mkt cap21.70KCr
P/E ratio1.42
Div yield13.47%
52-wk high126.58
52-wk low58.27

Canara Bank Share Price Today Live Updates: Canara Bank’s stock opened at ₹557.4 and closed at ₹549.15 on the last trading day. The high for the day was ₹568.95, and the low was ₹554. The market capitalization stood at ₹102,725.13 crore. The 52-week high and low were ₹632.65 and ₹291.3, respectively. The BSE volume for the day was 487,986 shares traded.

Canara Bank Share Price Live Updates: Consensus analysts rating is Buy

Canara Bank Share Price Live Updates: The analyst recommendation trend is shown below with the current rating as Buy.

  • The median price target is ₹506.0, 325.93% higher than current market price.
  • The lowest target price among analyst estimates is ₹360.0
  • The highest target price among analyst estimates is ₹670.0
RatingsCurrent1 Week Ago1 Month Ago3 Months Ago
Strong Buy6665
Buy3445
Hold1222
Sell2221
Strong Sell2000

TASVA, the Designer Wedding Wear Brand for Men, by Aditya Birla Fashion & Retail Ltd and ace Designer Tarun Tahiliani, Unveils its First Mall Store in Mumbai

Canara Bank Share Price Today Live: Hourly Price Movement Update

Canara Bank Share Price Today Live: Canara Bank’s stock price reached a peak of 118.85 and a low of 118.15 in the previous trading hour. During that time, the stock price surpassed the hourly resistance of 118.58 (Resistance level 1), suggesting a positive upward trend.
The hourly support and resistance levels to watch out in the next hour are mentioned below.

Resistance LevelsPriceSupport LevelsPrice
Resistance 1119.02Support 1118.32
Resistance 2119.28Support 2117.88
Resistance 3119.72Support 3117.62

Canara Bank Share Price Live Updates: Simple Moving Average

DaysSimple Moving Average
5 Days111.11
10 Days117.33
20 Days118.44
50 Days116.90
100 Days107.50
300 Days90.39

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Canara Bank Share Price Live Updates: Canara Bank trading at ₹118.65, up 4.77% from yesterday’s ₹113.25

Canara Bank Share Price Live Updates: Canara Bank share price is at ₹118.65 and has crossed the key daily support price level of ₹543.87. This indicates that stock is experiencing significant selling pressure and the price can decline further.

Earlier this year on April 19, 2024 the public sector lender had set Wednesday, 15th May 2024 as the record date for determining entitlement of equity shareholders for the purpose of split of existing equity shares of the bank. The stock split arrangement was such that 1 equity share having face value of Rs. 10 each, will be subdivided into 5 equity shares having face value of Rs. 2 each.

A stock split makes the shares more affordable for retail investors, and the move is likely to increase trading activity on the counter. This could be particularly beneficial for smaller investors who may have been previously deterred by the higher share price.

Moreover, the stock split has the potential to broaden the bank’s retail investor base. Prior to the split, a significant portion of the bank’s ownership was held by a relatively small number of High Net Worth Individuals (HNIs), including notable investors like Rekha Rakesh Jhunjhunwala. 

It’s important to note that a stock split differs from a bonus share issue. In a stock split, existing shares are divided into multiple shares with smaller face values, while in a bonus share issue, additional shares are distributed to existing shareholders based on their current holdings. Therefore, while a stock split increases the number of shares outstanding, it does not directly impact the share capital of the company.

Canara Bank recorded a 18.33 per cent year-on-year growth to Rs 3,757 crore in January-March quarter of fiscal year 2023-24 (Q4FY24). The bank’s net interest income (NII), increased by 11.18 per cent to Rs 9,580 crore during the fourth quarter of FY24. The bank registered NII of Rs 8,617 crore in the same period of the previous year.
At 11:17 AM; the stock of the company was trading 4.55 per cent higher at Rs 118.40 per share. By comparison the S&P BSE Sensex was down mariginally by 0.04 per cent.

Also Read cannes-2024-live-updates

Pre-Market: May 14 Focus will be on Gift Nifty, Q4 Earnings, and Inflation Statistics.

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Here is all the information you require prior to the market opening on Tuesday, May 14: Gift Nifty points to a robust beginning; Zomato shares will react to Q4 Earnings; Keep an eye out for these pivotal Bank Nifty and Nifty levels.

Pre-market stock update for May 14, Tuesday:Aided by the sharp intraday rally yesterday, the NSE Nifty 50 managed to survive above the 100-DMA (Daily Moving Average) for the third straight trading session. 

The market may look to build-up on the gains, amid supportive cues from Asian peers. The focus, however, will be on the inflation data in India and the US, followed by the US Fed chief Jerome Powell speech.

Retail inflation in India eased to 4.83 per cent in April, even as food prices continued to surge. The data was release on Monday, post market hours. 

Akhil Mittal, Senior Fund Manager-Fixed Income, Tata Asset Management said the CPI numbers were in line with expectations, and hence may not have any material impact on policy / markets.

At 07:00 AM, Gift Nifty futures quoted at 22,239, suggesting a mildly positive start on the Nifty 50.

Among individual stocks Zomato will be in focus after the company posted its fourth straight quarterly net profit. 

That apart, shares of Archean Chemical, AIA Engineering, Andhra Paper, Apar Industries, Apollo Tyres, Aurionpro Solutions, Bajaj Electricals, BASF  India, Bharti Airtel, Bharti Hexacom, BLS International, Butterfly Gandhimathi, Colgate Palmolive, Devyani International, Edelweiss Financial Services, Ganesh Housing Corporation, HP Adhesives, Ideaforge Technology, Jubilant Ingrevia, Kirloskar Brothers, Man Infraconstruction, Mirco Electronics, Oberoi Realty, OnMobile Global, Patanjali Foods, PVR  Inox, Radico Khaitan, Shree Cement, Siemens, Thyrocare Technologies and Zydus Wellness will be in focus as these companies announce Q4 results today.

Trading strategy for Tuesday, May 14 – Should you be a buyer or seller today? Here’s what market experts recommend:

Osho Krishan, Sr. Analyst – Technical & Derivative Research at Angel One recommends to remain cautious amidst the rise in volatility, which may be deceptive and could trap traders on either side. He adds that traders should refrain from aggressive overnight bets, and maintain exclusivity with stock selection.

On the level-specific front, Osho expects support for the Nifty around 22,000 – 21,900, followed by the sacrosanct support of the 89-DEMA around 21,800 zone. At the higher end, 22,200-22,300 is likely to act as intermediate resistance, and a sustainable surpass could only trigger a fresh round of longs in the system.

What are Shares and Types of Shares?

Analysing the F&O data, Ashwin Ramani, Derivatives & Technical Analyst of SAMCO Securities, reveals that both the 21,800 & 21,900 Strikes saw strong put writing. The Nifty has formed a hammer pattern on the daily chart, which is considered to be a bullish reversal signal. If call writers (Bears) exit from the 22,000 Strike, then Nifty is likely to move higher.

Echoing similar terms, Om Mehra, Technical Analyst of SAMCO Securities, said the Nifty has formed a hammer candlestick pattern at the support of its rising trendline on the daily chart, signaling a potential reversal. 

The Nifty may trade within a broader range of 21,950 to 22,250 in the coming sessions. While the Nifty closed above its 100-day Moving Average (DMA), but needs to close above the crucial level of 22,300, to confirm a bullish stance to continue, Om Mehra added.

Bank Nifty halted its eight-session losing streak, showing resilience as it formed a morning star pattern on the hourly chart and rebound from lower levels, closing the session at 47,754. Currently, Bank Nifty is positioned near a crucial rising trendline. The daily Relative Strength Index (RSI) stands at 46 levels. Immediate resistance remains at 48,000; if crossed, we expect a rally till 48,250-48,300, the analyst concluded in the note.

Similarly, Neeraj Sharma, AVP Technical and Derivatives Research at Asit C. Mehta Investment Intermediates suggested that as per the hammer candlestick pattern, as long as the Nifty holds the support of 21,820, the relief rally will continue. The 21-DEMA is placed near 22,315, which will act as an immediate hurdle for the index. Thus, for the short term, we expect a pullback towards 22,300 levels. If the index sustains above 22,315, the pullback rally might test 22,500 levels.

Indegene Share Price Starts Strongly, Opening at ₹655 on NSE with a 45% Premium.

Global markets

Overnight, the US market ended little changed with the Dow Jones snapping its seven-day rally as investors awaited US inflation data and Fed chair Powell speech.

The yield on benchmark the US 10-year notes fell 1.6 basis points to 4.489 per cent. 

This morning in Asia, Nikkei and Taiwan gained over 0.5 per cent each. Kospi was flat. The Bank of Japan on Monday sent a hawkish signal to markets by cutting the amount of Japanese government bonds it offered to buy in a regular operation.

Nifty 50 and Sensex today: What we can expect from the Indian stock market on April 29th.

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Nifty 50 and Sensex today: The Indian standard index is out to a strong start, according to Gift Nifty’s trends. The Gift Nifty was trading at a premium of around 100 points over the previous closing of the Nifty futures, at 22,655.

The Monday opening of the Sensex and Nifty 50 Indian stock market indices is anticipated to be higher due to favorable indications from the global market.

The Indian benchmark index is out to a strong start, according to Gift Nifty’s trends. The Gift Nifty was trading at a premium of around 100 points over the previous closing of the Nifty futures, at 22,655.

The domestic equity indices closed more than half a percent down on Friday, ending a five-day winning streak.

The Nifty 50 closed 150.40 points, or 0.67%, lower at 22,419.95, while the Sensex dropped 609.28 points to conclude at 73,730.16.

On the daily chart, Nifty 50 developed a long negative candle on Friday right next to the long bull candle on Thursday.

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At the highs, this indicates the formation of a bearish dark cloud cover-type candle pattern. The fact that Nifty pulled back in the following session after decisively breaking over the critical downside gap barrier of April 15 around 22,500 levels on Thursday may not be a good sign for bulls, according to Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities.

On the weekly chart, a little, positive candle with a long upper shadow formed. The market appears to have established a lower high this week following a string of higher high patterns.

“The Nifty’s short-term trend appears to have turned negative following a sensible recovery from the lows. The 22,300 mark serves as immediate support, and any weakness below it could lead to further falls in the future, according to Shetti.

What to anticipate from Bank Nifty and Nifty 50 today is as follows:

Nifty 50 Prediction

On April 26, the Nifty 50 index had a severe U-turn to the downside, ending the day 150 points lower.

“Throughout the session, selling pressure on the Nifty persisted as the index was unable to hold above the critical threshold of 22,500. A heavy cloud cover pattern on the daily chart suggests a possible bearish reversal. The Nifty could extend its losses towards 22,000 below the immediate support level of 22,300, according to Rupak De, Senior Technical Analyst at LKP Securities.

On the other hand, he believes the level of 22,500 might act as a technical resistance for the Nifty.

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Bank Nifty Prediction

Bank Nifty Prediction

On the daily charts, the Bank Nifty index formed a bearish candlestick pattern as it fell 294 points to close at 48,201 on Friday.

“Despite selling pressure from higher levels, the Bank Nifty index held onto the critical 488,000 support level.” Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities, stated that “as long as it stays above this level, where significant open interest is concentrated on the put side, the bullish sentiment will persist.”

The immediate barrier is currently at 48,600, and Shah noted that a significant advance over this level may open the door for new all-time highs in the index.

Sensex is down 600 points, and Nifty begins below 21,850, with Wipro, Bajaj Auto, and Infosys in the spotlight.

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Nifty opened below 21,850, and Sensex was down 600 points: The following industries had a decrease in stock prices: real estate, healthcare, consumer durables, oil & gas, automotive, financial services, FMCG, IT, metal, pharma, PSU Bank, and private banks.

The domestic market opened lower in today’s business session. Nifty is below 21,850 and Sensex is at 71888. The Sensex slipped to 600 points, while the Nifty fell to 183 points.
However, midcap and smallcap stocks have seen weakness. BSE’s midcap index is trading up to 1.44 percent lower, while Nifty’s midcap 100 index is down 1.75 percent. BSE’s small cap index is trading down 1.32 percent.

Currently, BSE’s 30-share flagship
index Sensex is trading at 71888.34, down 600.65 points or 0.83%. While NSE’s 50-share flagship index Nifty is trading at 21812, down 183.80 points or 0.84%.
Auto, Financial Services, FMCG, IT, Metal, Pharma, PSU Bank, Private Bank, Realty, Healthcare, Consumer Durables and Oil & Gas stocks were
seen with declines of 0.62-2.14%.
Bank Nifty is trading at 46,686.05, down 0.81 percent.

Infosys Q4 Results Live Updates: Revenue is expected to drop while margin stays constant QoQ; FY25 forecast expected.

Among the leading stocks, BPCL, Bajaj Auto, Infosys, HDFC Life, L&T, LTI Mindtree, Axis Bank, Nestlé India, and TCS fell between 1.25-2.66 percent. While among the giants ONGC, ITC, Apollo Hospitals, Cipla, and Sun Pharma rose by 0.03-2.04 percent.
Midcap stocks Hind Petroleum, Canara Bank, CRISIL, SJVN, and AB Capital fell between 2.62 and 3.54 percent. While IGL, Oil India, Torrent Power, Nippon, and Dilhavery are up 0.14- 0.90 percent.
Among small-cap stocks, Sachendar Infra, Sun Pharma Advertise, Purvankara, Dredging Corp, and Ganesh Housing fell 4.38-5 percent. However, among the smallcap stocks Visuvis India, Tallbros Auto, Wari Renewables, Brannariaman, and Transforms rose by 3.89-5.79 percent.

Stock Market Highlights, April 10: Sensex gains 354 points, Nifty stays at 22,750; larger indices perform!

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Stock Market Closing Bell on April 10, 2024: Equity markets were rangebound with a positive bias on Wednesday as investors await fresh triggers for directional moves. The S&P BSE Sensex ended with gains of 354 points, or 0.47 percent, at 75,038 levels, while the Nifty50 closed at 22,754, up 111 points or 0.49 percent.

ITC, Kotak Bank, SBI, Tech M, Bharti Airtel, Asian Paints, JSW Steel, Infosys, and Reliance Industries were the top winners on the 30-stock index, rising between 1 percent and 2 percent.

Meanwhile, in the broader markets, outperformed the market with the BSE MidCap index and the BSE SmallCap index advancing 0.89 percent and 0.46 percent, respectively. 

Among sectors, the Nifty PSU Bank, FMCG, Media, and Metal indices gained in the range of 1.23 percent to 1.80 percent, while Pharma and Auto indices ended in the red.

Tech View:: ‘Decisive move above 22,750 in Nifty might induce a rally towards 23,000’

The Nifty mostly remained sideways today as investors preferred to wait ahead of the US CPI inflation data, which could potentially impact rate cuts by the Fed. The resistance zone is placed at 22,700-22,750, while support is at 22,600. A decisive move above 22,750 might induce a rally towards 23,000 in the short term. Since the market appears to be range-bound, buying on dips and selling on rallies might prove to be a good strategy with proper stop-loss measures.

Comment :: ‘Investors remain fixated on impending release of the FOMC minutes, US inflation data’

Indian markets sustained their upward momentum, buoyed by a robust performance in the broader market, albeit slightly lagging behind its Asian and European counterparts. Investor attention remains fixated on the impending release of the FOMC minutes and US inflation data later today. Following the release of strong US job data, market sentiments are inclined towards an anticipation of spike inflation, thereby reducing the likelihood of a near-term rate cut. Additionally, Fitch’s recent downgrade of China’s credit rating could potentially reverberate through the global economy, warranting a caution.

Currency check:: Rupee gains 12 paise vs US dollar, ends at 83.19/$

Broader markets :: MidCap index adds nearly 1%

Sectoral trends :: Nifty PSU Bank, Media rally up to 1.8%

Sensex Heatmap:: ITC, SBI, and Airtel end as top gainers on the 30-stock index

Closing Bell:: Nifty holds 22,750

Closing Bell:: Sensex ends 354 pts higher ahead of US CPI data

Vodafone Idea stock may more than half amid subscriber churn: CLSA

“Beyond the planned capital expenditure and 5G rollout, Vi faces a financial crunch in FY26CL. Annual spectrum and AGR payments of $4 billion per annum will fall due unless the government converts debt principal to equity at the end of the moratorium,” CLSA said in its latest report.

Tata Motors-owned JLR India sales rise 81% at 4,436 units in FY24

Retail sales of SUVs, Range Rover, and Defender continued to grow with year-on-year increases of 160% and 120% respectively.

JLR

Vodafone Idea to launch FPO next week seeks to raise Rs 18,000-20,000 cr

Vodafone Idea (Vi) is preparing to launch a follow-on public offer (FPO) to raise Rs 18,000-20,000 crore by the middle of next week, reported Moneycontrol, citing sources.

Vodafone Idea

Q4 Preview: TCS to lead IT pack; may see upper single-digit rise in profit

Large-cap IT major TCS is expected to register a single-digit growth in revenue and profit for the January-March quarter (Q4FY24) as compared to the same quarter in the year-ago period due to large deal ramp-ups and operational efficiencies, said analysts.

Beware of deep fake of CEO recommending stocks, says National Stock Exchange

India’s National Stock Exchange (NSE) on Wednesday cautioned investors against deepfake videos of its chief executive giving stock recommendations. 

RInfra tanks 20% as SC asks co to refund Rs 8,000 cr to Delhi Airport Metro

Shares of Reliance Infrastructure (R-Infra) tanked 20 percent to Rs 227.40, freezing at the lower circuit on the BSE on Wednesday at 01:28 PM, amid heavy volumes after the Supreme Court (SC) set aside the Rs 8,000-crore arbitral award in favor of the company’s metro arm, Delhi Airport Metro Express Private Limited (DAMEPL).

Summer cheer for beer firm United Breweries as margins remain stable

United Breweries, India’s largest beer manufacturer, is expected to gain business as summer brings heat waves. The company will be a major beneficiary from April to July, the period that contributes 40-45 percent of its annual beer volumes. The T20 Cricket World Cup in June and the ongoing Indian Premier League will help volumes and should offset the negative impact of elections on sales. 

Rotation into large-caps could continue ahead of elections: Ritu Arora

Indian markets have rebounded sharply from their lows in mid-March with the Sensex crossing the 75,000 mark for the first time this week. RITU ARORA, chief executive officer and chief investment officer for Asia at Allianz Investment Management, tells Puneet Wadhwa in an email interview that the Indian markets will witness periodic corrections and provide better entry opportunities over the next year. 

Kolte Patil zooms 10% as Motilal Oswal gives a ‘Buy’ rating, 34% upside eyed

Shares of the company soared as much as 10.05 percent to hit an intraday high of Rs 569.05 per share after Motilal Oswal initiated coverage on the real estate developer.

SC sets aside Rs 8,000 cr arbitral award to Anil Ambani’s Reliance Infra

In a significant relief to the Delhi Metro Rail Corporation (DMRC), the Supreme Court on Wednesday set aside the Rs 8,000 crore arbitral award in favor of Anil Ambani-owned Reliance Infrastructure’s metro arm, Delhi Airport Metro Express Private Limited (DAMEPL).

KSB rallies 5% as board to consider stock split; stock up 98% in 1 year

The company’s board is scheduled to meet on April 26 to consider the proposal for sub-division/split of equity shares and also announce the March quarter results.

Global check:: Hang Seng surges 1.8% in mixed trade in Asia

chart

Will India be the world’s next growth driver as its economic growth speeds up?

With China’s growth slowing, India could become the new engine of global economic growth, but it will take strategic investments, increased labor participation, and more to achieve its ambitions.

Explained: Silver prices may touch Rs 1 lakh, should you invest?

Motilal Oswal has cited several factors driving silver prices, including strong demand from the industrial sector (electronics, solar) and its role as a safe-haven asset during economic uncertainties. 

Motilal Oswal trims price target on TaMo, sees 4% downside, Here’s why

MOFSL said the revised price highlights expectations of stabilizing growth shortly due to moderate volume growth in domestic passenger and commercial vehicle industries.

Vistara’s loss may not be IndiGo’s gain; oil remains an overhang: Analysts

Surging oil prices, according to analysts, could hit the airline if the government decides to hike the prices of aviation turbine fuel (ATF). 

Fitch downgrades China’s outlook to negative on economic growth risks

China’s factory output and retail sales topped forecasts in January-February, joining better-than-expected exports and consumer inflation indicators, providing an early boost to Beijing’s hopes. 

Gold can rise 5% to Rs 75,000; Silver by 2.5% to Rs 85,000, charts suggest

Commodities such as Gold and Silver have rallied sharply in the last two weeks amid a rise in geopolitical crisis and hopes of interest rate cuts in the US.

Gold futures in the international market rallied from $2,170 per ounce to $2,384 per ounce – up 9.9 percent in the last three weeks. Meanwhile, Silver futures outperformed with a gain of 16 percent during the same period. 

Vedanta soars 8%, hits 23-month high on heavy volumes; zooms 45% in 4 weeks

The company is favorably positioned to capitalize on the commodity upcycle, thanks to its diversified exposure. Moreover, its ongoing efforts to enhance capacity and profitability across various segments bode well for prospects, as per reports.

ALERT:: Kolte Patil zooms over 7% as MOFSL initiates coverage

>> With the scale-up in operations, we expect post-tax OCF to double to INR8b by FY26. Further, the net cash position as of Dec’23 also provides comfort and ample headroom to capitalize on future growth opportunities. We initiate coverage on the stock with a BUY rating and a TP of INR700, implying a 34% upside.

ALERT:: Gensol Engineering reports an order book of Rs 1,783 crore at the start of FY25

PB Fintech surges 7%, hits 2-year high on pact with ICICI Lombard

Stocks of PB Fintech are trading at their highest level since November 2021. It had hit a record high of Rs 1,470 on November 17, 2021. At 09:21 am, the stock was trading 5 percent higher at Rs 1,369.85, as compared to the 0.33 percent rise in the S&P BSE Sensex. On the other hand, shares of ICICI Lombard General Insurance Company were quoting 1 percent higher at Rs 1,713 on the BSE.

Weak demand environment to delay recovery in quick-service restaurants

While competition is intense, growth has seen non-vegetarian options starting to outpace vegetarian. KFC, for example, has an 85 percent contribution from non-vegetarians. Popeyes, with a launch in South India, is creating a new category in fried chicken.

Comment :: Here’s what could keep markets resilient

Robust economic growth, decent corporate earnings, macroeconomic stability, expectations of political stability after elections, sustained capital flows, and retail investor enthusiasm will keep the market resilient despite rich valuations.

A significant recent healthy trend in the market is the outperformance of the fundamentally strong large caps over the mid and small caps. This trend is making the market healthier and, therefore, has the potential to continue. Largecap banking stocks are likely to be the leaders if the rally sustains.

The US CPI data to be published today is significant since that will determine the quantum of rate cuts by the Fed this year. The fact that US inflation has come down by two-thirds is significant and positive from the market perspective, but the trajectory of inflation, going forward, will largely influence the direction of stock markets, globally.

Paisalo Digital gains over 3.5% on a 32% YoY rise in AUM

>> The company reported that its Assets Under Management (AUM) saw a 32 percent growth, reaching Rs 4,622 crore by the end of the March FY24 quarter.

>> In the same period, disbursements rose by 38 percent to Rs 3,588 crore

Shyam Metalics advances 3% as it plans Rs 750-cr capex

>> The metals manufacturing firm will set up a new facility for the production of stainless steel hot rolled coils (HRC) at its existing plant in Sambalpur, Odisha with an investment of Rs 650 to Rs 750 crore

Protean eGov Technologies zooms about 3% as Co to likely launch QIP

>> Reports say the QIP offering is set to include a base issue size of Rs 170 crore along with a green shoe option of Rs 75 crore

Godrej Properties flat after Gurugram unit of RERA denies project extension

>>  The Real Estate Regulatory Authority in Gurugram has denied the extension application for the Godrej Air Phase 4 project, a group housing project being developed by Godrej Properties in Sector 85, Gurugram. 

Lupin gains over 1% on launching first generic version of Oracea

>> The pharma major announced the launch of the first generic version of Oracea (doxycycline capsules 40 mg) in the US. 

Paytm falls 3% as PPBL MD & CEO resigns

>> Surinder Chawla, MD and CEO of Paytm Payments Bank has resigned ‘on account of personal reasons’

Broader markets:: SmallCap index trades flat

Sectoral trends:: Private banks see a slight downtick

Sensex Heatmap:: 26 of 30 index stocks rise led by Tata Steel, RIL

Opening Bell:: Nifty tests 22,700


Opening Bell:: Sensex up less than 200 pts

Pre-Open Session:: Nifty holds 22,700

Pre-Open Session:: Sensex gains over 250 pts

Betting big: Mutual funds own a larger slice of small and midcap stocks

Retail investors now own a larger share of smallcap companies than they did a year ago, thanks to their conviction in mutual fund (MF) schemes focused on this segment.

Data from Capitaline shows that MFs’ average holding in the National Stock Exchange Nifty Smallcap 250 Index stood at 9 percent at the end of the October-December quarter of 2023-24 (FY24), up from 7.76 percent in the same quarter of 2022-23.

Mutual funds’ growing heft

Gold price climbs Rs 10 to reach Rs 71,740, silver slips to Rs 84,400

The price of 24-carat gold registered a slight uptick of Rs 10 in early trade on Wednesday, with ten grams of the precious metal trading at Rs 71,740, according to the GoodReturns website. The price of silver, on the other hand, went down by Rs 100, with one kilogram of the precious metal selling at Rs 84,400.

The price of 22-carat gold rose Rs 10 with the yellow metal selling at Rs 65,760.

gold investment gold trade

ICICI Bank, Eicher Motors can zoom up to 6-7% says HDFC Securities

Buy Eicher Motors(CMP-4,250): | Target Rs. 4,550 | Stop-loss Rs 4,050

By surpassing the previous swing high of 4,200, the Stock has registered a fresh all-time at 4,303. The primary trend of the stock is bullish, as it has been forming higher tops and higher bottoms on the weekly charts. The auto sector has been outperforming for the last couple of weeks. 

Nifty Private Bank nearing correction: Here’s what the charts indicate

Nifty Bank Index

The Nifty Bank Index is currently trading at 48,730.55, exhibiting a bullish short-term trend on the charts. However, in the near term, the index is anticipated to encounter resistance levels, potentially leading to profit booking as the rally progresses. 

Stocks to Watch today: Paytm, Maruti, ICICI Lombard, Lupin, PolicyBazaar

Here are the stocks that are expected to be on investors’ radar this Wednesday.

Maruti: The auto major on Tuesday said it has added a new assembly line at its plant in Manesar, Haryana, which has increased the company’s total manufacturing capacity from 2.25 million units to 2.35 million units.

Paytm: Surinder Chawla, MD and CEO of Paytm Payments Bank has resigned ‘on account of personal reasons’, the company said in a regulatory filing yesterday. The resignation would be effective from June 26. 

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Rupee depreciates 2 paise

Brent crude at $89.56 per bbl

Gift Nifty futures suggest a positive start

At 07:15 AM, the Gift Nifty futures were quoting 80 points higher than Nifty 50 futures at 22,815.

Also Read: The message-writing part of Google Messages has been modified!

Asian markets trading lower on Wednesday morning

US indices end flattish

Good morning readers! Catch all the market live updates here

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