Author: MarketScope Daily

The Indian stock market continued its decline today, marking the sixth consecutive session of losses. Despite the downtrend, major stocks like Reliance Industries and HDFC Bank offered some support, preventing the indices from facing sharper declines. The Nifty 50 index closed down by 0.11% at 23,532, and the S&P BSE Sensex fell by 110 points (0.14%) to settle at 77,580. Both indices saw losses of approximately 2.5% for the week, concluding a challenging week for investors. Early in the trading session, a rally in banking and auto stocks had lifted indices by around 0.50%, though these gains were tempered by…

Amid escalating geopolitical tensions in the Middle East, investors closely monitor potential market impacts, especially on global oil prices and economic stability. WTI crude oil is currently trading at $67.97 as of 07:33 am GMT. The ongoing conflict between Iran and Israel has intensified concerns over regional stability, potentially leading to broader crises that could affect global oil supplies. While oil prices have remained relatively stable for now, the progression of the conflict may result in higher prices, which could complicate central banks’ plans for rate cuts worldwide. This could create inflationary pressures, particularly in economies that are reliant on…

November 14 – MarketScope Daily Eicher Motors Ltd., a major player in the mid-weight motorcycle segment, saw its share price rise by nearly 8% on Thursday morning to Rs 4,940 per share, following a Q2 earnings report that outperformed many analysts’ expectations. As of 11:50 am IST, Eicher Motors is trading at Rs 1,438.80, up by 7.63% on the NSE. The company’s growth was driven primarily by strong sales in its higher-capacity motorcycles, which cater to premium market segments. This solid quarterly performance has prompted favorable assessments from several brokerage firms, although some caution remains due to rising competition in…

November 13, 2024 Gold prices saw a modest rebound on Wednesday, edging up 0.6% to $2,614.00 per ounce as investors responded to a recent price drop, marking the lowest level for the metal in nearly two months. This movement follows a substantial dip on Tuesday, largely driven by a strengthened U.S. dollar and rising inflation concerns. Gold’s current fluctuations underscore its sensitivity to broader economic factors, such as Federal Reserve policy and global inflation dynamics. Dollar Adjusts Amid Economic Uncertainty In early trading, the U.S. dollar index (.DXY) declined by 0.1%, pulling back from recent six-month highs against major currencies.…

NTPC Green Energy Ltd., the renewable energy division of India’s largest power producer NTPC Ltd., is set to launch its IPO on November 19, available to investors through November 22. This IPO marks a good step for both NTPC Green and India’s renewable energy sector, allowing investors to participate in the nation’s clean energy journey. The proceeds will further NTPC Green Energy’s role in advancing India’s renewable goals while securing capital for future growth. IPO Details: Price Band, Grey Market Premium, and Listing Speculation The IPO price band is set between Rs 102 and Rs 108 per share, with a…

November 13, 2024, MarketScope Daily In Wednesday’s trading, shares of FSN E-Commerce Ventures (Nykaa) rose by 6%, reaching an intraday high of Rs 187.85 on the BSE. As of 11:06 am IST, Nykaa is trading at Rs 176.35 on the BSE, down 0.73%, marking a decline after its 6% rise earlier in the morning. This price surge came despite a generally weaker market, where the BSE Sensex declined by 0.18% to 78,531.2 around mid-morning. Although Nykaa’s second-quarter earnings exceeded expectations, analysts hold mixed views on the company’s future, noting both growth potential and rising cost concerns. Nykaa’s Q2 Earnings Nykaa’s…

November 12, 2024, MarketScope Daily Bitcoin’s value surged to an all-time high approaching $90,000 on Tuesday, spurred by growing enthusiasm around President-elect Donald Trump’s stated support for positioning the U.S. as a global cryptocurrency hub. Bitcoin briefly reached $89,982, marking a 30% increase from last week’s price, as the market evaluated the potential impact of his pro-crypto platform. At 2:14 PM GMT, Bitcoin is trading at $86,045, reflecting a slight pullback from the recent peak of nearly $90,000. This significant rally has captivated attention among investors and industry insiders alike, generating notable activity across the broader crypto and tech sectors.…

UPL Ltd. experienced a strong 7% uptick in share price on Tuesday morning following its Q2 financial results, which highlighted volume-driven growth amid ongoing margin pressures. As of 12:19 pm IST, UPL is trading at Rs 538.60, showing an uptick of approximately 4.5% on NSE. In early BSE trading, UPL shares opened at Rs 520.05, above the previous close of Rs 515.10. The price continued to gain, reaching an intraday high of Rs 552.70, reflecting a rise of over 7%. The Q2 report indicated robust volume growth despite price declines in certain regions and product segments. Q2 Performance Highlights UPL’s…

Tuesday, November 12 – Shares of Triveni Turbine Ltd. surged by 11.2% on Tuesday, reaching Rs 695 per share, following the company’s exceptional second-quarter results for the fiscal year 2024-25. As of 10:41 am IST, Triveni Turbine’s stock is trading at Rs 682.2, marking a 9.10% increase in early trading. With strong growth across revenues, profits, and orders, Triveni’s Q2 performance has positioned it favorably within the power-generating equipment sector. Investors have responded positively, lifting the stock and ending its three-day decline. Q2 Financial Highlights Triveni Turbine achieved its highest-ever quarterly revenue and EBITDA, signaling strong operational performance: This growth…

With Swiggy’s IPO allotment finalized today, investors are preparing for the company’s listing on November 13, set against a backdrop of mixed market sentiment. While the IPO saw strong interest with a 3.59 times subscription rate, Swiggy’s grey market premium (GMP) remains low, signaling cautious market expectations for the debut. Swiggy IPO Subscription and Price Band Running from November 6 to November 8, Swiggy’s IPO generated significant interest, receiving bids for 57.53 crore shares compared to the 16.01 crore shares on offer, translating to a 3.59 times subscription rate. The IPO price was set between Rs 371 and Rs 390…