Market Bizzz

As long as the stock is priced above the 200-day SMA on the daily time frame, it is generally considered to be an overall uptrend.

Stocks that were in focus include names like Tata Technologies, which closed flat, Apollo Tyres, which jumped 3.14%, and Vodafone Idea, whose shares fell 0.76% on Thursday.

Data overnight showed U.S. producer prices increased more than expected in April, indicating that inflation remained stubbornly high early in the second quarter.

A large wildfire was approaching Fort McMurray, the hub for Canada’s oil sands industry with production of around 3.3 million barrels per day, or two-thirds of the country’s total output, and thousands in suburbs were told to evacuate.

As long as the stock is priced above the 200-day SMA on the daily time frame, it is generally considered to be an overall uptrend.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) stood at Rs 75.30 crore as compared to Rs 22.29 crore a year ago.

In May, Foreign Portfolio Investors (FIIs) sold Indian equities worth Rs 17,083 crore, continuing their net selling trend. However, Domestic Institutional Investors (DIIs) countered this by purchasing equities worth Rs 19,410 crore, highlighting divergent institutional activity.

Next week, US CPI data will be released, which will be crucial for gold. In case of hotter-than-expected inflation data, gold will fall. The bullion rally has coincided with a rally in risk assets and bonds.

The company’s consolidated revenues during the quarter under review also rose to Rs 1,726.25 crore from Rs 1,550.27 crore in the year-ago period. The company’s total expenses declined during the quarter to Rs 784.66 crore from Rs 853.22 crore in the year-ago period.