Latest Stock Market News

The US presidential election may impact investor optimism in the stock market, despite a recent recovery. Goldman Sachs strategists highlight concerns over policy uncertainty, especially regarding corporate tax reform. Additionally, doubts about the benefits of high spending on artificial intelligence could affect stocks. International diversification might offer more advantages towards year-end.

Phoenix Overseas is set to debut on the NSE SME platform with a grey market premium indicating a likely listing premium of 23%. The IPO saw strong demand, being oversubscribed over 100 times. The company trades and exports agricultural products and manufactures fashion accessories, reporting revenues of Rs 90.63 crore for the year ending March 2024.

​And in terms of domestic, I think the next one-year story is the recovery in the rural demand, that is coming through very strongly. We know the capex. We know the public infrastructure build-out, the impact of that. You are seeing 20% better taxes year on year. All those benefits of the infrastructure build-out are coming through.

BikeWo GreenTech shares are set to debut on the NSE SME platform today, trading at a grey market premium of Rs 7. The company plans to use the IPO proceeds for electric two-wheeler sales, setting up dealership stores, debt repayment, and general corporate purposes. BikeWo recently diversified into the electric vehicle market.

Stocks in news: Markets saw a nearly 1% rise on the monthly expiry day, driven by favorable cues. Key stocks in focus include Biocon, SJVN, Adani Green, Union Bank, and Nuvama Wealth due to various developments such as agreements, joint ventures, property sales, and potential equity sales.

The S&P 500 reached a record high, with the Dow and Nasdaq also rising. Micron Technology shares surged due to strong demand for memory chips. Positive U.S. economic data eased concerns about aggressive rate cuts by the Federal Reserve. Chinese stimulus plans boosted metal prices, while energy stocks fell.

“We had a very detailed consultation on that and if as a part of that you feel that there needs to be relaxation in terms of how to do distribution of those kind of passive funds. We are open to any kind of suggestions so that we can facilitate growth of these funds across the country,” Buch said at an industry event.