Latest Stock Market News

Analysts largely expect IT stocks to sustain the current high PE multiples going ahead. They like stocks such as Infosys, HCL Tech and Tech Mahindra among the Tier I names.

Ten Chinese government agencies, including the central bank as well as banking, securities and foreign exchange regulators, said in a joint statement that they would work closely to maintain a "high-pressure" crackdown on speculative trading of cryptocurrencies.

In the international market, gold was trading higher at $1,754 per ounce and silver was flat at $22.68 per ounce.

Analysts said Nifty50 could see a pause in momentum in the coming days, following the recent spurt. They said the 18,300 level would act as a key resistance at highs and suggested booking partial profits in the 18,100-18,200 range.

“One needs 12-15 months of solid equity gains and then the needle starts to turn a bit into real estate. We are exactly at that point right now.”

“More players coming in would only help the existing incumbent players like us who have remained committed for the last 25 years and continued to build this business.”

India can benefit from the Evergrande crisis, as investors may look at India as an alternative to China for investments.

The Nifty Realty index closed 1.5 per cent up at 501.3.

Data collated by brokerage house Motilal Oswal showed India’s Nifty has gained 28 per cent year to date. In comparison, Russia’s MOEX and France CAC40 have added 23 per cent and 21 per cent, respectively.

Realty stocks, which are seeing structural tailwinds, continued to be in demand. Auto and IT names also saw buying. Metal and FMCG stocks were under selling pressure.