Indian mutual funds aggressively bought equities last month amidst a market correction. They invested heavily in HDFC Bank and BSE, acting as a stabilising force against foreign investor selling. Funds also booked profits in Tata Motors. Banking stocks remain a dominant sector for mutual funds, with HDFC Bank, ICICI Bank, and SBI featuring prominently.
Groww shares hit a new 52-week high. BofA Securities initiated coverage with a Buy rating. The brokerage sees strong growth potential for Groww. It expects revenue to grow at a 30% CAGR. Profitability is also projected to rise significantly. Groww leads the market with the most active clients. This positive outlook is boosting investor confidence in the retail brokerage platform.
Hindustan Copper shares surged on Wednesday as global copper prices hit a six-week high amid easing Middle East tensions and hopes of renewed US-Iran talks. Strong demand outlook, supply concerns, and expectations of long-term electrification trends further boosted sentiment across industrial metals, with broader gains also seen in nickel, zinc, and tin.
Gold and silver prices opened higher on MCX as easing crude oil prices and renewed hopes of U.S.-Iran talks supported sentiment. While global gold prices remained steady near recent highs, analysts expect volatility due to currency and oil movements. Traders are advised to adopt a buy-on-dips strategy amid evolving geopolitical developments.
LIC shares surged over 5% on Wednesday after the insurer announced its first-ever 1:1 bonus issue, allowing shareholders to receive one additional share for each held. The move, backed by capitalisation of reserves, is subject to approvals and marks a key milestone since listing in 2022. The company said the bonus shares will be credited within 2 months of board approval, on or before June 12, 2026.
The Indian rupee strengthened by 20 paise to 93.15 against the US dollar in early trade, supported by positive domestic equities and easing global pressures.
Nine stocks signaled bearish momentum by slipping below their 200-day moving averages, indicating potential weakness and downside risk in the near term.
LG Electronics India shares are in focus as a six-month lock-in period ends today, freeing over 44 crore shares for trade. The stock, which listed at a premium in October 2024, has seen volatility since its debut. Analysts maintain a positive outlook, citing market leadership and growth plans.
Oil prices fell for a second day on hopes that renewed U.S.-Iran talks could ease Middle East supply disruptions after the Strait of Hormuz closure. Optimism grew after Donald Trump signaled negotiations may resume soon, raising expectations of a resolution that could restore crude flows.
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