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Major cryptocurrencies including Bitcoin and Ethereum faced declines as investors booked profits following recent highs. Bitcoin traded at $62,264, down 2.1%, while Ethereum fell 2.5%. Market sentiment remains cautious with upcoming U.S. CPI and PPI data expected to increase volatility, and Bitcoin facing resistance at $64,000.

Hyundai Motor India is set to launch its IPO next week, with shares priced between 1,865 to 1,960 rupees each, aiming for a valuation of up to $19 billion. The $3 billion offering opens for institutional investors on Oct. 14 and for retail investors from Oct. 15-17. Trading is scheduled to commence in Mumbai on Oct. 22.

The stock traded at a P/E multiple of 87.26, while the price-to-book value ratio stood at 18.24.

Sobha shares fell by nearly 4% due to a 32% YoY decline in Q2 FY25 sales, totaling Rs 1,178.5 crore compared to Rs 1,723.8 crore in Q2 FY24. Bangalore and Kerala regions posted significant growth. Despite the dip, the stock has delivered over 150% returns in the past year.

Promoters held 51.5 per cent stake in the company as of 30-Jun-2024, while FII and DII ownership stood at 7.79 per cent and 2.38 per cent, respectively.

But we have done well even despite interest rates not being down. So, I do not think it matters so much. Actually, our markets are used to high interest rates. So, it is very different from the US market which has got used to very low interest rates.

Deven Choksey is optimistic about investing in the metal sector due to stable energy prices and rising consumption. He also sees opportunities in some NBFCs and corporate banks with large assets. He believes the economic environment will benefit both sectors, with potential lower energy and lending costs contributing to growth.

​I do not think re-rating will happen, but at least they can give you the earnings returns. If I look at the overall PE of the mid and smallcap, obviously they look expensive, but there are pockets which look reasonably good.

The stock quoted a 52-week high price of Rs 2843.0 and a 52-week low of Rs 1803.8.

Hyundai Motor plans to sell 142 million shares in its Indian unit through an initial public offering, retaining an 82.5% stake afterward. The sale aims to raise approximately $3 billion, valuing Hyundai Motor India at around $20 billion. This marks the first carmaker IPO in India since 2003.