Latest Stock Market News

Indian LED lighting solutions manufacturer, IKIO Lighting, has set a price band of INR 270 to INR 285 for its initial public offering (IPO), which opens for subscription on June 6 and is available until June 8. The IPO comprises a fresh equity issue of up to INR 350 crore and an offer for sale of up to nine million shares. 50% of the offer has been reserved for qualified institutional buyers, 35% for retail investors, and 15% for non-institutional investors.

​So I think midcap and small cap stocks are likely to see the positive momentum. And in heavyweights selective counter from FMCG, auto, banks, defence would likely to see the positive setup. While index may stuck in a range where declines could be bought with support of 18400-18442 marks.

As of 31-Mar-2023, promoters held 38.14 per cent stake in the company, while FIIs held 19.43 per cent and domestic institutional investors had 8.32 per cent.

Cryptocurrency markets were lower on Thursday amid concerns over the US debt ceiling. Bitcoin fell 1.4% to $26,790, while Ethereum hovered above the $1,850 level. Analysts predict a choppy crypto market in the coming weeks if the decision on the debt ceiling bill remains unclear. The global cryptocurrency market cap fell 0.79% in the last 24 hours to around $1.13tn. The market cap for Bitcoin stood at approximately $519bn with a dominance of 46.05%, according to CoinMarketCap. Technical analysis suggests Bitcoin is showing a slightly bearish trend.

The Indian government’s offer for sale (OFS) of Coal India shares was fully subscribed in under four hours of trading on Thursday. The government received bids for 8.56 crore shares, against the 8.31 crore shares on offer for institutional investors. Retail investors may still invest in the OFS on Friday, with 10% of the offer reserved for them. Although the OFS has provided an opportunity for arbitrage, shares in Coal India lost almost 5% of their value on Thursday, falling to INR229.85 ($3.49).

We are a little bit concerned about what is happening globally. But net-net, if commodity prices continues to fall, India will see even further upside from here onward in the second half.

A total of 1,650 shares changed hands on the counter till 02:14PM (IST)

Tata Power, Nelco, Indian Hotels Company, Voltas, Tata Investment Corporation, Tata Chemicals, and Tata Steel will all trade ex-dividend this month. Nelco, with a market cap of Rs 1,413 crore, is set to trade ex-dividend on June 6 with a final dividend of Rs 2 per share. Tata Power has announced a final dividend of Rs 2 per share and will trade ex-dividend on June 7. Tata Steel will trade ex-dividend on June 22 with a final dividend of Rs 3.6 per share. Indian Hotels Company and Voltas will trade ex-dividend on June 9.

The reality is that money supply has gone down precipitously. It is an amazing and that means that inflation will be coming down. It is already happening. So, I believe the central banks are being maybe too cautious at this stage.

ETMarkets is hosting a day-long webinar on June 3 with leading women traders to help traders navigate the market charts and develop effective risk management techniques. The event features sessions on the identification of multibaggers, momentum-based trading, basics of technical analysis, risk management, and different trading strategies. The webinar aims to help participants build a solid foundation in technical analysis, identify market trends, optimize entry and exit points, and make well-informed decisions. Nothing complex but effective.