Latest Stock Market News

Gold prices surged to Rs 71,540 amid expectations of U.S. interest rate cuts next month, with positive U.S. retail sales data and geopolitical tensions providing additional support. October gold futures and silver futures on the MCX also saw gains.

Top brokerage firms have issued buy recommendations for several companies. Systematix Equities recommended Patanjali Foods citing growth potential. Motilal Oswal upgraded Glenmark Pharma. Jefferies maintained buy ratings on Voltas and Sunteck Realty after favorable operational results and encouraging future projections.

On August 16, StockEdge.com identified three NSE large-cap stocks with a bullish "White Marubozu" pattern, where the opening price is the lowest and closing the highest.

Top investors on Dalal Street including Ashish Kacholia and Rekha Jhunjhunwala saw substantial gains in 2024, with 14 of their stocks yielding multibagger returns. Notably, Advait Infratech provided a 215% return. Despite these successes, experts recommend cautious investment amid high valuations in certain market segments.

The IPO of Interarch Building Products opened today and will be available until August 21. The company raised Rs 179 crore from anchor investors. The IPO aims to raise Rs 600.29 crore at the upper price band, with a fresh issue of shares worth Rs 200 crore and an OFS of up to 44.47 lakh shares.

Neeraj Seth from BlackRock believes the US is experiencing a gradual economic slowdown, with expected rate cuts possibly benefiting selective Asian markets. He remains positive on India’s growth, highlighting strong corporate balance sheets and potential for future capex to drive earnings. He anticipates the RBI may start rate cuts by the end of the year.

The Sensex and Nifty saw substantial gains as US recession concerns eased, driving a global stocks rally. Pravesh Gour from Swastika Investmart recommended strategies for stocks like CDSL, Hindustan Zinc, and Paras Defence based on their recent performances and technical indicators. Specific resistance and support levels were also identified for these stocks.

Seventeen stocks, including Aarti Industries, ABFRL, and Bandhan Bank, were under F&O trade ban. This restriction is due to open interest exceeding 95% of market-wide position limits and is lifted when it drops below 80%. Despite high volatility, Nifty and Sensex ended Friday in green, boosted by positive U.S. economic data.