Stock Market News

Tanushree Jaiswal || Concerns about demand in China and other regions have led to a significant selloff in global copper prices, pushing the metal into a bear market with a 20% decline from the peak levels seen in May this year. Copper prices have dropped below $9,000 per tonne for the first time since early April. Over the past month, copper futures have fallen by up to 7%, reaching near four-month lows, with analysts predicting further declines, reducing net long positions on the London Metal Exchange (LME) by 60%. Check Copper Price Today

Tanushree Jaiswal || Oil prices fell on Friday, marking second consecutive weekly decline due to mixed economic data & stronger dollar. Brent crude dropped to $84.50 per barrel, & U.S. WTI fell to $82.10 per barrel. Decline was influenced by strong U.S. labor data, slower growth in China, & Japan's inflation, which impacted market sentiment. Despite decrease in U.S. stockpiles, rising global stocks led to bearish trends, with OPEC+ unlikely to change output cuts. Check MCX Crude Oil Rate Today Live Check MCX Crude Oil Mini Rat

Tanushree Jaiswal || Gold prices edged higher on Tuesday, supported by comments from Federal Reserve Chair Jerome Powell that strengthened the case for a September rate cut. Investors are also awaiting further U.S. economic data for additional guidance on monetary policy. Spot gold increased by 0.1% to $2,423.89 per ounce by 0140 GMT. On Monday, prices reached their highest level since May 20, when gold hit a record peak of $2,449.89. U.S. gold futures remained stable at $2,429.90. Check MCX Gold Rate Today Live "Powell continued to set

Tanushree Jaiswal || Gold prices declined on Friday, though they remained on track for a third consecutive weekly increase. This trend follows lower-than-expected U.S. inflation data, which has fueled optimism that the Federal Reserve may begin reducing interest rates in September. Spot gold dipped by 0.2% to $2,408.70 per ounce as of 0148 GMT, after a 2% surge on Thursday. Meanwhile, U.S. gold futures dropped 0.3% to $2,413.90. Check MCX Gold Rate Today Live Thursday's data revealed an unexpected decrease in U.S. consumer prices, with th

Tanushree Jaiswal || Foreign investors acquired over $1 billion in IT stocks in the latter half of July, influenced by robust June quarter earnings that met expectations, fostering optimism about a sector recovery. In contrast, they divested nearly $1 billion from financial services due to sluggish deposit growth reported by numerous lenders. Recently, the RBI governor voiced concerns over structural shifts in the financial sector, highlighting that faster credit growth compared to deposit growth might lead to structural liquidity issues wit

Tanushree Jaiswal || JPMorgan Chase & Co. will intensify its monitoring of liquidity for longer-term Indian debt included in its emerging market bond index following regulatory actions to exclude future issuances of these bonds from eligibility. If there are insufficient secondary market quotes or complaints from clients, the Wall Street bank may reconsider the inclusion of these notes in the index, according to a source familiar with the bank’s internal discussions. The source, who requested anonymity, indicated that the bank will also

Tanushree Jaiswal || Shares of Tata Motors dropped by over 4% to ₹1,095 per share on August 2, despite the company reporting stronger-than-expected results for the June quarter. This decline came after the management's comments suggested a weak global demand for the rest of the fiscal year. However, brokerages remained mostly positive about the automaker, noting that the CV segment and Jaguar Land Rover (JLR) exceeded market expectations. At 9:40 AM IST, Tata Motors share price dropped as much as 4.76% to reach an intraday low of ₹1,090.05 p

Tanushree Jaiswal || The hedge fund iShares MSCI India ETF. As per its 13 F filing, the hedge fund has a long position in the fund with a $17.4 million stake that constitutes around 1.9% of Kingdon's total portfolio. The hedge fund has total assets of $915.77 under management. Kingdon Capital Management, the hedge fund associated with Hindenburg Research and known for short selling Adani Group shares, has only one other India-related investment in its portfolio. Kingdon Capital is a US-based investment management company founded by hedge

Tanushree Jaiswal || Brainbees Solutions (FirstCry) IPO - Day-1 Subscription at 0.11 times Brainbees Solutions (FirstCry) IPO will close on 8th Aug. Shares of Brainbees Solutions will likely be listed on 13 August on BSE, NSE platform. As of 6th August 2024, Brainbees Solutions (Firstcry) IPO received bids for 54,38,272 shares less than the 4,96,39,004 shares offered. It means Brainbees Solutions's IPO was subscribed 0.11 times by the end of day 1. Here are the subscription details for Brainbees Solutions (Firstcry) IPO as of Day 1 (6th A

Tanushree Jaiswal || Unicommerce eSolutions IPO - Day 1 Subscription at 2.48 times Unicommerce eSolutions IPO will close on 8 Aug. Shares of Unicommerce eSolutions will likely be listed on 13 August on BSE, NSE. As of 6th Aug 2024, Unicommerce eSolutions IPO received bids for 3,49,51,260 shares much more than the 1,40,84,681 shares offered. This means that Unicommerce eSolutions' IPO was oversubscribed 2.48 times by the end of day 1 Here are the subscription details for Unicommerce eSolutions IPO as of Day 1 (6th August 2024 at 6:49 pm):

Tanushree Jaiswal || About Firstcry IPO (Brainbees Solutions) The anchor allocation was made at the upper end of the price band of ₹465 per share. This includes the face value of ₹2 per share plus a share premium of ₹463 per share, taking the anchor allocation price to ₹465 per share. Let us focus on the anchor allotment portion ahead of the Brainbees Solutions (Firstcry) IPO, which saw the anchor bidding opening and closing on 5th August 2024. Read more about Firstcry IPO A brief on the Anchor Allocation of Brainbees Solutions (Firstc

Tanushree Jaiswal || On August 6, Rajputana Industries Limited's Initial Public Offering (IPO) made a significant entry on the NSE SME platform, opening at ₹72.20 per share, a 90% increase from the issue price of ₹38. Early trading saw the stock rise further to ₹75.80, almost doubling its initial value. Throughout the day, over 8.46 lakh shares were traded, amounting to a trade value of ₹6.25 crore, while the company's market valuation reached ₹168.39 crore. Prior to the IPO, Rajputana Industries secured ₹6.12 crore from anchor investors on

5paisa Research Team || Our analysts at 5paisa scan through the financial markets and select the few trending stocks which were in the news and in the limelight for the day. Here is the list of a few trending stocks with their latest News and Updates. Trending Stocks Today: 7-Aug-2024 1. State Bank of India Challa Sreenivasulu Setty has been appointed as the chairman of SBI for a three-year term, commencing on August 28, with approval from the Indian government. Furthermore, the bank has appointed Rana Ashutosh Kumar Singh as its man

Tanushree Jaiswal || India's gold industry, backed by the World Gold Council (WGC), has initiated the formation of a self-regulatory organization to enhance consumer trust and confidence, the WGC announced on Tuesday. The Indian Association for Gold Excellence and Standards (IAGES) has been newly established with the aim of fostering fair, transparent, and sustainable practices within the bullion sector. It will also focus on regulatory adherence, a code of conduct, and an audit framework, according to Sachin Jain, CEO of WGC's Indian opera

Tanushree Jaiswal || The Securities and Exchange Board of India (SEBI) has introduced new regulations for mutual funds, mandating asset management companies (AMCs) to establish an institutional mechanism to prevent violations like fraudulent transactions and front-running. According to a SEBI circular dated August 5, these regulations aim to identify and prevent front-running and fraudulent transactions in securities managed by AMCs. The responsibility for implementing these measures lies with the CEO, managing director, or equivalent offici

Tanushree Jaiswal || Asian stocks surged as bargain hunters stepped in after fears of a US economic downturn caused a significant regional benchmark drop, the worst single-day decline since 2008. The MSCI Asia Pacific Index soared by up to 3.9%, marking its best performance since November 2022, following a steep fall of over 6% on Monday. Japan spearheaded the recovery, with the yen weakening after significant gains against the dollar had previously driven the country's stocks into a bear market. In the previous two sessions, regional equ

Tanushree Jaiswal || On August 6, the Indian equity markets saw a notable rebound, following a global market meltdown the previous day. This drop was triggered by concerns over a potential US recession and the unwinding of the yen carry trade, spurred by an interest rate hike from the Bank of Japan. Both the Sensex and the Nifty had plummeted nearly three percent but were trading positively by around 11 am, though they had trimmed some early gains. Dhiraj Relli, Managing Director and CEO of HDFC Securities, commented on the situation, statin

Tanushree Jaiswal || A significant number of market analysts may be uneasy about the current stock market valuations; however, this hasn't stopped retail investors and mutual funds from investing substantial sums in stocks this year. Data from NSE indicates that retail investors have invested over ₹1 lakh crore in stocks so far this calendar year. Additionally, mutual funds have exceeded ₹2 lakh crore in investments in Indian equities this year, based on NSDL data. Besides retail and mutual fund investments, insurance companies have poure

Tanushree Jaiswal || Since Finance Minister Nirmala Sitharaman presented the interim budget on February 1, 2024, equity mutual funds have seen impressive returns, reaching up to 47%. Approximately 474 equity mutual funds were active during this period. Leading the pack, the HDFC Defence Fund delivered a remarkable 47.04% return, followed by Bandhan Infra with 35.59%, LIC MF Infra at 34.61%, and Motilal Oswal Midcap at 31.54%. The top three performers belonged to the sectoral/thematic mutual fund category, with about five funds achieving r

Tanushree Jaiswal || In the first half of 2024, Mutual Funds acquired HDFC Bank shares worth over ₹42,000 crore, even as foreign investors slightly reduced their holdings in India's largest bank by Market Capitalization. In June alone, mutual funds purchased 4.09 crore shares of HDFC Bank, valued at ₹6,887 crore. This marked the sixth consecutive month of substantial buying, with previous monthly acquisitions as follows: May - ₹7,600 crore, April - ₹1,886 crore, March - ₹4,600 crore, February - ₹8,432 crore, and January - ₹12,884 crore. A

Tanushree Jaiswal || Lupin Q1 Results Highlights Mumbai-based Lupin reported a 77.2% year-on-year increase in profit after tax (PAT) for the first quarter of the financial year FY25, ending June 30, reaching ₹801 crore. The company's operational revenue rose by 16.2% year-on-year to ₹5,514.3 crore. This PAT growth was driven by new product launches and strong performances in key regions. Sequentially, Lupin saw a 122.9% increase in PAT, with a 12.6% rise in revenue. The Ebitda (earnings before interest, tax, depreciation, and amortization

Tanushree Jaiswal || Vedanta Ltd reported a 36.5% increase in consolidated net profit, amounting to ₹3,606 crore for the quarter ending June 30, 2024. Their revenue from operations grew by 5.6%, reaching ₹35,239 crore. Additionally, the first quarter's EBITDA experienced a 47% rise compared to the previous year. Vedanta Q1 Results Highlights On August 6, Vedanta Ltd, owned by billionaire Anil Agarwal, announced a 36.5% rise in consolidated net profit, reaching ₹3,606 crore for the quarter ending June 30, 2024, compared to ₹2,640 crore dur

Tanushree Jaiswal || TVS Motor Company Ltd. posted a net profit of ₹577 crore for the April-June quarter. The company's revenue for the period grew by 16% compared to the previous year, totaling ₹8,376 crore. The EBITDA margin increased by 50 basis points to 11.5%, matching analyst expectations. TVS Motor Q1 Results Highlights TVS Motor Company Ltd., a manufacturer of two and three-wheeler vehicles, reported a net profit of ₹577 crore for the April-June quarter, aligning with the CNBC-TV18 poll estimate of ₹574 crore. The company’s rev

Tanushree Jaiswal || Oil and Natural Gas Corporation (ONGC) reported a 42.8% drop in consolidated net profit, amounting to ₹10,236 crore in the first quarter of the financial year 2024-25. Sequentially, ONGC's consolidated net profit decreased by 11%. ONGC Q1 Results Highlights Oil and Natural Gas Corporation (ONGC) reported a 42.8% drop in consolidated net profit, amounting to ₹10,236 crore in the first quarter of the financial year 2024-25, compared to ₹17,893 crore in the same period the previous year. Sequentially, ONGC's consolida

Tanushree Jaiswal || The Indian rupee is expected to reach a record low at the opening on Wednesday, ahead of significant U.S. inflation data and new interest rate projections from Federal Reserve officials. Non-deliverable forwards suggest the rupee will start trading at 83.58-83.60 to the U.S. dollar, down from 83.5650 in the previous session and surpassing the all-time low of 83.5750 set in April. On Tuesday, the rupee fell below the long-standing support level of 83.50-83.55. The rupee has faced challenging days recently. Weighed down by

Tanushree Jaiswal || The Foreign Exchange Derivatives market in India is undergoing a substantial disruption on April 5, due to the implementation of newly announced regulations by the Reserve Bank of India (RBI). It is anticipated that the implementation of these regulations, which mandate an underlying foreign-exchange exposure for currency derivatives trading on stock exchanges, will significantly affect the market, specifically affecting retail traders and speculators, who make up a substantial proportion of the participants. To comply w

Tanushree Jaiswal || In a rather low-profile move, the RBI has decided to officially withdraw the ₹2,000 notes from the currency circulation. This will be effective from 30th September 2023. Between March 23, 2023 and September 30, 2023, the RBI will offer a special window for the people holding these ₹2,000 currency notes to either exchange their notes or deposit these notes into the bank account. Banks will offer this window only up to September end and after that the ₹2,000 note cannot be either exchanged or even deposited in any of the comm

5paisa Research Team || The Indian rupee is going through its worst crisis yet. On Tuesday, it sunk to its lowest yet, going below the psychologically crucial mark of 80 to the US dollar. The rupee went as low as 80.05 to the dollar, before it was helped back up by some intervention from the country’s central bank. The Reserve Bank of India pumped some US dollars into the currency markets to steady the currency slightly after it went down for the seventh consecutive trading session. Is the Indian rupee the only one that has been falling

Tanushree Jaiswal || The attractiveness of buybacks from information technology (IT) companies is expected to diminish following the Budget 2023-24 announcement, which states that income from share buybacks will now be taxed as dividends for the recipient investor. Analysts anticipate this change will make buybacks less appealing due to increased compliance burdens and potentially higher taxes. Under the current system, companies are charged an additional income tax for buybacks. However, starting October 1, 2024, the income from share buyba

Tanushree Jaiswal || The Union Budget for 2024-25, unveiled today, marks the inaugural budget of the new coalition government, meeting high expectations from both industry stakeholders and the general public. The budget's central theme aligns with the ambitions of a youthful nation—focusing on employment, skills development, MSMEs, and the middle class. As the world's fastest-growing large economy, the budget needed to not only reinforce fiscal stability but also set the stage for sustained economic growth, a delicate balance the finance mi

Tanushree Jaiswal || The Union Budget for the fiscal year 2025 places a strong emphasis on the financial sector's vital role in fostering economic growth. This is achieved through several strategic announcements designed to enhance credit flow to key sectors and optimize outcomes in three critical areas: credit expansion, financial inclusion, and stressed assets resolution. The DFM Troika: Digital, Financial Inclusion, and MSME Support Measures Digital Initiatives First, the budget underscores technology initiatives in agriculture, par

Tanushree Jaiswal || Union Finance Minister Nirmala Sitharaman took center stage on July 23, 2024, as she presented the Union Budget for 2024-25, marking her seventh consecutive Budget presentation. The stock market's reaction was heavily influenced by the Budget proposals across various sectors. Earlier in the day, the Indian stock market erased its initial gains due to caution ahead of the Budget announcement. Although the NSE Nifty 50 and S&P, BSE Sensex opened about 0.3% higher, they were trading flat at 24,516.65 points and 80,553.9