Author: MarketScope Daily

Indian equity markets surged on Wednesday, with major indices climbing sharply as U.S. election updates pointed toward political clarity. Investors responded with renewed buying interest, pushing benchmark indices higher. At 2:57 pm IST, the Nifty 50 is at 24,470, and the Bank Nifty is at 52,275. Market Performance Overview Both the BSE and NSE benchmarks recorded substantial gains. The Nifty rose by over 1.1% to touch 24,538, while the Sensex touched 80,570 in intra-day trading. Export-focused sectors such as IT and pharmaceuticals stood out, fueled by optimism about favorable U.S. trade policies potentially benefitting Indian exports. The Nifty IT index…

Swiggy’s IPO opened with a relatively slow response from investors on its first day of subscription. As of 12:18 PM on Wednesday, November 6, the IPO had received bids for 1,10,51,578 shares out of the total 16,01,09,703 shares available, leading to a subscription rate of only 0.07 times. This slow uptake could raise questions about market sentiment toward the company. Note – The information presented in this article is based on publicly available data and sources as of the date of publication. While every effort has been made to ensure the accuracy and reliability of the information provided, MarketScope Daily…

This week, Hindustan Zinc Limited (HZL) shares may attract attention as the central government initiates a 2.5% stake sale via an Offer for Sale (OFS). HZL, a major mining industry player under Vedanta Ltd, produces key materials like zinc, lead, and silver. As of Wednesday, November 6, Hindustan Zinc Ltd. (HZL) opened with a significant gap down, currently trading around Rs 517.10 at 10:04 am IST. OFS Details and Pricing The government has set a floor price of Rs 505 per share, approximately 10% below HZL’s recent market price, potentially appealing to investors looking for a discounted entry. The OFS…

As the U.S. presidential election approaches, crypto markets are on edge, with the race between Donald Trump and Kamala Harris poised to impact cryptocurrency valuations. Historically, political shifts, policy changes, and economic strategies have influenced the global crypto landscape, and this election is no exception. Note for Indian Readers – The cryptocurrency landscape is continually evolving, and regulations regarding digital assets in India may vary. It is advisable to stay informed about the latest guidelines from the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (SEBI) before making investment decisions. Election Week Market Dynamics On…

Tube Investment of India Ltd. experienced a notable decline in its stock value, dropping approximately 5.62% during Tuesday’s trading session following the release of its second-quarter financial results, which revealed a 14% decrease in net profit. In the September 2024 quarter, the company’s consolidated net profit fell to Rs 299.17 crore, down from Rs 346.19 crore in the same period last year. This decrease can be attributed to an 18% rise in total expenses, which increased to Rs 4,569.19 crore compared to Rs 3,868.46 crore in the previous year. During the session, Tube Investment shares reached an intraday low of…

Indian stock market indices Sensex and Nifty 50 are anticipated to open lower on Tuesday, November 5, influenced by mixed global cues and market uncertainty surrounding the upcoming U.S. Presidential Elections. Based on available data, Gift Nifty trends suggest a potentially weak start, with the index trading around 24,080. Monday saw significant declines, with Sensex dropping 941.88 points to 78,782.24 and Nifty 50 falling 309 points to 23,995.35. Nifty’s formation of a long bearish candle signals possible downside risks. If selling pressure persists, immediate support will be near 23,700, and more significant support will be near 23,200. Resistance for Nifty…

As global markets brace for the potential implications of the U.S. presidential election and the Federal Reserve’s upcoming interest rate decision, gold prices remained stable on Monday. Amidst an atmosphere of caution, gold continues to attract attention as a traditional safe-haven asset, influenced by factors such as currency fluctuations and international economic conditions. Disclaimer – The information presented in this article is based on publicly available data and reflects the views of the authors as of the date of publication. It is intended for informational purposes only and should not be construed as financial advice. Market conditions can change rapidly,…

Swiggy is preparing for its initial public offering (IPO) on the Indian stock exchange. Backed by SoftBank, Swiggy is expected to attract global institutional interest as it opens its IPO. Swiggy’s IPO, opening on Wednesday, November 6, and closing on Friday, November 8, has a set price band of Rs 371 to Rs 390 per share. Disclaimer – The information in this article is for informational purposes only and is based on publicly available data. It does not constitute financial advice or a recommendation to buy or sell securities. MarketScope Daily does not guarantee the accuracy or completeness of the…

Several major Nifty stocks, including Bharti Airtel, Tech Mahindra, Larsen & Toubro, and ICICI Bank, saw earnings per share (EPS) adjustments following their Q2 results. Bharti Airtel, for example, recorded a notable year-over-year increase in net profit, which reflected an improvement in average revenue per user due to recent tariff adjustments. The telecom sector, in particular, demonstrated positive revenue trends as companies continue to focus on strategic pricing and market expansion. Disclaimer -MarketScope Daily does not endorse or promote any specific stocks, funds, or financial instruments mentioned herein. Readers are encouraged to conduct their own research and consult with a…