Latest Stock Market News

The Nifty index stabilized within a 24,800 to 25,000 range over the last three days, forming a symmetrical triangle pattern. It concluded July with a 3% increase, driven by the Union Budget and FII buying. Analysts expect this momentum to persist, predicting targets above 25,000 and immediate support at 24,900.

From the Sensex pack, Maruti Suzuki, JSW Steel, Tata Motors, Power Grid, and Adani Ports were the top gainers, rising 1-3.5%, while M&M, Infosys, UltraTech Cement, and Sun Pharma opened in the red.

On Thursday, the Indian market was projected to rise due to global market trends. The US and Asian markets performed well. Analysts provided specific support and resistance levels for Nifty and Bank Nifty, alongside stock recommendations. Traders were advised to maintain long positions and take new ones on dips.

Bank of Baroda, incorporated in the year 1911, is a banking company (having a market cap of Rs 131481.88 Crore).

Trom Industries’ shares listed on the NSE SME platform with a 90% premium, debuting at Rs 218.5 compared to the issue price of Rs 115. The IPO, involving 27.27 lakh fresh equity shares, saw a robust response with over 400 times subscription. Proceeds will fund capital expenditures, working capital, and corporate purposes.

A total of 128,166 shares changed hands on the counter till 10:00AM (IST)

Brainbees Solution, known for its FirstCry brand, declared a price band of Rs 440-465 for its Rs 4,194 crore IPO, open from August 6-8. The IPO includes a fresh issue of Rs 1,666 crore and an offer for sale worth Rs 2,528 crore. Funds will support new stores, subsidiary investments, overseas expansion, and marketing.

Earnings season commenced with 88 companies announcing results. Key highlights included ITC, Sun Pharma, Tata Motors, Adani Enterprises, and Zomato reporting. ITC and Dabur anticipated revenue growth from cigarettes, hotels, and FMCG segments. Tata Motors projected strong profit growth. Zomato maintained robust performance from prior quarters, offering promising outlooks.

Oil prices surged in Asian markets following the assassination of Hamas and Hezbollah leaders, raising concerns of a broader Middle East conflict. Robust U.S. oil demand and declining stockpiles contributed to the price increase. A weaker dollar further supported oil demand from international investors.

The U.S. dollar fell on Thursday as the Federal Reserve suggested a possible interest rate cut in September. Meanwhile, the yen surged to its highest level since March after the Bank of Japan raised rates. Traders are now focused on upcoming inflation and jobs reports, expecting significant easing this year.