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A total of 175,400 shares changed hands on the counter till 11:57AM (IST)

FMCG and pharma stocks have surged up to 23% over the last month, proving their defensive strength, while the Nifty50 has declined amid high volatility and a 27% rise in the India VIX. The Nifty FMCG and Pharma indices have gained 8% and 7.7%, respectively, versus a 0.11% drop in the broader Nifty.

Ahead of listing, the company’s shares had a GMP of Rs 14 in the unlisted market. The IPO, featuring a fresh equity issue of Rs 617.69 crore and an OFS of up to 1.42 crore shares, saw strong investor demand with a 13.78 times subscription. Proceeds will fund equipment purchases, debt repayment, and general corporate needs.

Mutual funds offloaded shares in 12 defence stocks amid concerns over high valuations, with retail investors stepping in to buy. Foreign institutional investors also increased their holdings in many of these stocks. Experts advised a careful stock-specific approach as high valuations may limit near-term gains despite strong order books and government focus on indigenization.

Dhariwalcorp shares listed on the NSE SME platform with a 41.5% premium, reaching Rs 150 from an issue price of Rs 106. The IPO, largely welcomed by investors, was oversubscribed by 100 times. The company trades waxes and industrial chemicals, serving various industries domestically and internationally with a diverse range of quality products.

Foreign institutional investors decreased their shareholding in NSE-listed companies to 17.38% in Q1 FY25 from 17.72% a year earlier. The highest FII holdings as of June 30, 2024, were seen in companies like 360 One Wam, Samhi Hotels, Delhivery, CarTrade Tech, and Paytm, reflecting key investment choices.

A total of 33,860 shares changed hands on the counter till 10:09AM (IST).

Gold October futures opened flat at Rs 68,860 per 10 gram, while silver September futures traded at Rs 79,019/kg. The week saw significant price volatility due to global market fluctuations and US recession concerns.

The stock quoted a 52-week high price of Rs 10080.15 and a 52-week low of Rs 6634.6.

According to the stockedge.com data, 8 stocks from the Nifty50 pack reflected in the RSI Trending Up scan. It is an uptrend signal if the RSI value has crossed above 50 from below.