Latest Stock Market News

Stocks in news: The domestic market edged higher for the second week, moving closer to record highs. Key shares like Trent, BEL, and LTIMindtree attracted attention due to index changes. Transport Corporation announced its first equity buyback. Ambuja Cements experienced significant block deals. Ashoka Buildcon won an MMRDA project. Several other companies also highlighted important developments.

After a periodic scare, the global markets have adopted an upward momentum, showcasing signs of recovery from previous lows. However, while other markets (equity for example) show resilience based on the expectation of a Federal rate cut, the crypto market is yet to register a prolonged upward boom.

In a meeting held on August 24, 2024, the company’s board approved the buyback of up to 13,33,333 equity shares at Rs 1,200 per share on a proportionate basis through the tender offer route, according to an exchange filing.

The combined market valuation of nine of the top 10 most valued firms jumped by Rs 95,522.81 crore last week, with Reliance Industries, TCS and HUL emerging as the biggest gainers. Rising for the fourth straight session, the 30-share BSE Sensex ended 33.02 points or 0.04 per cent higher at 81,086.21 on Friday.

Investors must tread carefully, ensuring that they strike the right balance between the tactical applications of AI and a thorough understanding of its wider business implications

The record date, determined by a company, identifies shareholders entitled to benefits like buybacks, bonus issues, or stock splits. Shares must be in the demat account on this date to qualify.

Recent economic data from the US, China, and Europe fell short of expectations, heightening concerns about a sluggish global economy and its impact on oil demand. However, potential supply disruptions from the Middle East due to ongoing conflicts, along with OPEC+ production policies, helped limit the losses in oil prices.