Market enthusiasts and investors, here’s your daily dose of the latest market news live updates!
In the commodity market, oil prices snapped their weekly streak and settled 1% lower due to ceasefire talks in the Middle East. Brent crude futures closed at $86.54 a barrel after reaching their highest level since April. On the other hand, WTI crude oil prices were up by 2%.
Moving on to the stock market, Nvidia’s stock received a rare downgrade from New Street Research analyst Pierre Ferragu. Despite a 154% surge in the chipmaker’s shares this year, valuation concerns prompted the downgrade from a ‘buy’ to a ‘neutral’ rating.
In the IPO space, Bansal Wire IPO’s grey market premium jumped to ₹70, indicating strong subscription status. Emcure Pharma IPO also saw a steady grey market premium of ₹331, with investors eagerly awaiting the allotment and listing dates.
For those interested in stock portfolios, Radhika Gupta of Edelweiss shared insights on factors that impact returns, providing valuable information for investors. Additionally, a weekend wrap-up highlighted the top market movers and news of the week, offering a comprehensive recap for readers.
In the commodity market, gold and silver prices fluctuated, with 10 gm of 24-carat gold priced at Rs. 74,964 in Delhi and 1 kg of silver at Rs. 90,800 in the same city.
SEBI’s surprise inspections and scrutiny of top mutual fund executives’ digital devices have raised eyebrows in the market, with leading mutual funds under the regulator’s radar. Sumeet Bagadia recommended buying SBI, Marico, and ONGC stocks on Monday, while Yes Bank’s share price surged 11% on strong Q1 results buzz.
Looking ahead, Chinese and Indian stocks are favored over Japan in Asia’s second half, with equities in these countries expected to outperform. In the commodity market, gold prices climbed to a six-week high on rising optimism for a US Fed rate cut, with the focus now on the US dollar rate.
Lastly, sovereign funds are flocking to India with billion-dollar investments, while FIIs and PEs remain cautious in backing domestic companies. Stay tuned for more real-time updates on your favorite companies and market trends with Mint’s live blog!
