Latest Stock Market News

REC topped the list, the stock price gained 7.35% and open interest saw an increase of 5.41%. NMDC stock price gained 4.64% and open interest saw an increase of 1.35%.

The SME IPO of Accent Microcell was subscribed by a whopping 362 times at close with the total bids surpassing the Rs 18,000 crore mark, which is a first for any SME company.

Mudrex, a Y-Combinator-backed crypto platform, has recently announced its registration as a recognized entity with the Financial Intelligence Unit (FIU).

The Relative Strength Index of the stock stood at 63.22 on Wednesday.

The IPO committee of the company at its meeting held on December 12, 2023, in consultation with the book running lead managers to the offer, has finalized allocation of 68,06,961 equity shares, to anchor investors at an anchor investor allocation price of Rs 790 per equity share.

The Price-to-Earnings ratio or PE ratio is one of the most popular valuation metrics used in the markets to analyse a stock and its valuation trajectory.

The stock traded at a P/E multiple of 55.86, while the price-to-book value ratio stood at 5.77.

“The chemical industry seems to have bottomed out and if there is going to be progress on the China front in other avenues of destocking being over, this industry on the back of being a laggard in the last six months can come out to be an outperformer. Both SRF and Aarti are in our portfolio and we are extremely bullish on them in the slightly longer term”.

A significant uptick in futures open interest signifies a substantial growth in the number of active, unexpired futures contracts in a specific security.

The Federal Open Market Committee is poised to keep rates in a range of 5.25% to 5.5% at its two-day policy meeting ending Wednesday, a 22-year high first reached in July. The rate decision and an accompanying statement will be released at 2 p.m. in Washington. Chair Jerome Powell will hold a press conference 30 minutes later.