Latest Stock Market News

Glottis IPO GMP: Glottis’ Rs 307 crore IPO has entered its second day of bidding, closing Day 1 at 42% subscription with bids for 84.72 lakh shares against 2.01 crore on offer. Grey market trading shows a 5.4% premium, down from 9% on Day 1. Priced at Rs 120–129, the IPO will remain open until October 1, comprising a Rs 160 crore fresh issue and Rs 147 crore OFS.

Nifty 50 index undergoes a reshuffle today. IndiGo and Max Health join the index. Hero MotoCorp and IndusInd Bank exit the 50-share index. This change is expected to trigger over one billion dollars in passive fund flows. IndiGo may attract 545 million dollars. Max Healthcare could see 372 million dollars pour in. Outflows are projected for exiting stocks.

Man Industries shares: SEBI barred Man Industries and three top executives, including Chairman Ramesh Mansukhani, from the securities market for two years over alleged fund diversion, likely triggering selling pressure on September 30.

Shares of Larsen & Toubro (L&T) will be in focus on September 30 after the company secured a $700 million Sustainability-Linked Trade Facility (SLTF) from Standard Chartered. This follows L&T’s issuance of India’s first listed sustainability-linked bond earlier this year, reinforcing its leadership in sustainable finance and commitment to ESG goals, including carbon neutrality by 2040 and water neutrality by 2035.

InterGlobe Aviation (IndiGo) and Max Healthcare will join the Nifty 50 on September 30, replacing IndusInd Bank and Hero MotoCorp, as part of NSE’s semi-annual index reshuffle.

Indian benchmark indices opened higher on Tuesday, September 30. Metal, pharma, and IT stocks led the gains. Realty stocks faced selling pressure. Investors now await the RBI MPC meeting outcome scheduled for tomorrow. The market remained bearish due to US tariffs and FII selling. Nifty approached a critical support zone, with caution advised for traders.

Five debt-free penny stocks have delivered exceptional returns, soaring up to 200% in the past year, attracting significant investor interest. Kashyap Tele-Medicines, Oxford Industries, DJS Stock and Shares, Rajasthan Petro, and Svam Software are among these top performers, showcasing strong gains despite market conditions.

The Indian stock market remains in a narrow range. Largecap companies are driving current performance. This cycle favors specific stock picking over broad rallies. Pharma, IT, and FMCG sectors show potential. Rural demand is reviving for FMCG. IT valuations are at multi-year lows. Pharma offers a secure investment. Largecap outperformance may continue into 2025. Investors should focus on earnings stability.

Five Nifty stocks outperformed the index in the latest quarter. Maruti Suzuki, Eternal, Eicher Motors, Hero MotoCorp, and JSW Steel delivered double-digit returns. Maruti Suzuki returned 31 percent. Eicher Motors returned 27.32 percent. Experts forecast further upside for these stocks. Maruti Suzuki may gain 16 percent. Hero MotoCorp could see 15 percent. This trend continues.

Domestic gold prices on the MCX surged to an all-time high on Tuesday, with December futures reaching Rs 1,17,351 per 10 grams. Silver held steady near Rs 1,43,900 per kg. Globally, gold breached $3,850 per ounce as investors sought safe-haven assets amid US government shutdown fears, expectations of rate cuts, and rising geopolitical tensions, driving bullish momentum in precious metals.