Latest Stock Market News

The Nifty Bank index closed 0.02 per cent up at 51152.75.

On August 29, four stocks from the Nifty200 pack appeared in the RSI Trending Up scan, according to the stockedge.com data.

Arnab Das from Invesco EMEA discusses the ongoing industrial revolution driven by AI, cautioning about current market hype. While AI promises to boost productivity and efficiency, market valuations may be exaggerated. Companies like Nvidia are central to this change, yet broader economic factors and technological adoption pace will shape future outcomes.

The SME IPO of Boss Packaging Solutions opened for subscription today and will close on September 3. The company seeks to raise about Rs 8.41 crore and list on the NSE SME platform. Investors should review 10 key details before subscribing. The shares had no grey market premium before the issue.

Rapid Multimodal Logistics, based in Chennai, made its debut on the BSE SME platform with a 22.6% premium, listing at Rs 103 against an issue price of Rs 84. The IPO, fully subscribed with fresh equity of 10.11 lakh shares, was overbooked 300 times at close. The company reported revenues of Rs 71.

Realty firm Prestige Estates Projects Ltd has launched a plan to raise up to Rs 5,000 crore through a Qualified Institutional Placement (QIP). The floor price for the equity shares has been set at Rs 1,755.09 per share. Recently, the company reported a 13% decline in net profit for the June quarter due to higher expenses.

A short buildup occurs when there is a rise in open interest and trading volumes, coupled with a decrease in the price of the underlying stock in the Futures and Options segment.

The Relative Strength Index of the stock stood at 63.08 on Friday.

Everybody views interest rate cuts very positively. However, I believe one needs to think a bit counterintuitively or with second-order thinking. The reason being that rate cuts and the magnitude of change in expectations can only occur with weakening economic data.