Latest Stock Market News

A Sebi study reveals that 54% of IPO shares are sold within a week of listing by non-anchor investors. The study shows that 63.3% of shares are sold by non-institutional investors, with a higher exit rate for positive listing gains.

The Nifty IT index closed 0.44 per cent up at 42975.6.

Short covering occurs when traders repurchase shares they had previously sold short, typically in response to a change in market sentiment or new information. This action often leads to a reduction in open interest and can cause the stock price to rise. On Monday, five stocks experienced short covering during the trading session.

The stock quoted a 52-week high of Rs 7974.25 and a 52-week low of Rs 3248.0.

Benchmark index Nifty50 reached an all-time high for the fourth straight session, driven by gains in IT and financial stocks, while also marking its 13th session of the rally. Key stocks like Bajaj Finserv and HCL Tech rose notably. Nifty FMCG and Nifty IT sectors saw gains, although midcap and smallcap indices dropped by around 0.3%.

In an ETMarkets live stream with Delta Exchange, Saketh Ramakrishna explained the Iron Condor strategy for managing risk in volatile cryptocurrency markets. This non-directional strategy profits from low volatility and was illustrated with a real-world case study showing its practical application and benefits.

Gold prices declined by Rs 250 to Rs 74,100 per 10 grams in the national capital on Monday due to tepid demand from local jewellers and retailers. The precious metal of 99.9 per cent purity had closed at Rs 74,350 per 10 grams in the previous session on Friday.

Shree Tirupati Balajee Agro Trading’s IPO opens on September 5 with a price band of Rs 78-83, closing on September 9. The offer includes a fresh issue of 1.47 crore shares and an OFS of 56.9 lakh shares, aiming to raise nearly Rs 170 crore. Proceeds will fund debt repayment, subsidiary investments, and working capital needs.

Nilesh Shah, MD of Kotak AMC, points to India as a promising investment option amidst global instability. He advises investing in long-duration assets and gold, staying neutral on equities with a tilt towards large caps, and expects near-term volatility but long-term growth. Shah warns of moderated returns and the importance of sound asset allocation.