Latest Market News Today Live Updates July 5, 2024: Nifty 50 records longest weekly winning streak of 2024, ends at record high; check top performers

• Indian benchmark indices continue bullish streak, fueled by potential rate cut by US Federal Reserve, FPI inflows, and rally in banking and IT stocks. Nifty 50 ends week with 1.30% gain, hitting new all-time high. Mid- and small-cap stocks also show strong performance.

Read the full story here

• According to data collected from the Bombay Stock Exchange (BSE) website, the Emcure Pharmaceuticals IPO issue was oversubscribed 67.74 times. Qualified institutional buyers (QIB), non-institutional investors (NII), and retail investors showed strong bids on the third day.

Read the full story here

• Anand Rathi recommends 2 ’emerging picks’ for July 2024, focusing on CONCOR and ideaForge Technology with a time horizon of 30-90 days.

Read the full story here

• Stock Market Today: Sun Pharma share price has risen almost 25% year to date. The news flow recently has remained around regulatory actions by the USFDA for Dadra nd Halol plant Should you Buy , Sell or Hold the stock?

Read the full story here

• Bansal Wire IPO subscription status shows overwhelming response from investors, with 59.57 times subscription. QIBs, NIIs, and retail investors actively participated. Price band set at ₹243-256 per share. Analysts bullish on long-term prospects, expecting decent listing gains of over 25%.

Read the full story here

• The race to build new mines for a clean-energy transition that’s expected to need lots of lithium has pushed global production out of lockstep with demand in the small but fast-growing market.

Read the full story here

• V-Mart acquired Limeroad in FY23 to push its omnichannel strategy, but has been cutting costs to reduce Limeroad’s losses of late.
• Limeroad’s Ebitda loss in FY24 stood at ₹71.6 crore and V-Mart expects the FY25 loss to be 40-50% of that.

Read the full story here

• Top Gainers and Losers Today : The Sensex lost 53.07 points, or -0.07, to settle at 80049.67, while the Nifty gained 21.7 points, or 0.09, to close at 24302.15.

Read the full story here

• Ganesh Green Bharat IPO subscriptions started on July 5 and will end on July 9, with a lot size of 600 shares and a price band of ₹181 to ₹190 per share. Retail investors must apply for a minimum of 600 shares, requiring a deposit of at least ₹1.14 lakh.

Read the full story here

• American investors who avoided a hit from the slumping yen have done much better.

Read the full story here

• Railway stocks surged today, with RVNL, IRCON International, leading the charge by up to 18%. RVNL hit a record high after securing agreements for various infrastructure projects domestically and internationally.

Read the full story here

• Stock market today: Sensex, Nifty 50 end flat dragged by HDFC Bank; mid, smallcaps outperform

Read the full story here

• Upcoming IPO: The NSE has approvede the DRHP filed by Positron Energy Limited

Read the full story here

• Shilpa Medicare share price surged 17% to a 52-week high after positive results from a clinical study of oxylanthanum carbonate by Unicyctive Therapeutics. Unicyctive signed a long-term supply agreement with Shilpa and committed to milestone payments and funding for new manufacturing facilities.

Read the full story here

• Bitcoin slumped over 8% to $53,523 on July 5, below chart support of $55,000, hitting a four-month low. Ether also dropped 9%, with smaller coins like Cardano and XRP down over 10%.

Read the full story here

• Budget 2024: The Indian stock market hits record highs with expectations of a well-balanced Union Budget focusing on fiscal consolidation, manufacturing, infrastructure, and rural sectors.

Read the full story here

• Stock Market Today: L&T, ABB, Bharat Electronics are 3 picks of Motilal Oswal in the capital goods sector ahead Q1 results. The Q1 results may see some impact of lok sabha elections on order flows, though strong execution of strong order book may support earnings.

Read the full story here

• Global brokerage firm Phillip Capital has initiated coverage on the stock with a ‘buy’ rating and set a target price of ₹704 per share.

Read the full story here

• HDFC Mutual Fund bought 45.50 lakh Restaurant Brands Asia shares, paying ₹110.46 apiece on Thursday

Read the full story here

• Effwa Infra IPO price band is set at ₹78 to ₹82 per share. At the upper-end of the price band, the company aims to raise ₹51.27 crore from the IPO which is a combination of fresh issue of 53.17 lakh equity shares worth ₹43.60 crore and an OFS of 9.36 lakh shares worth ₹7.68 crore.

Read the full story here

• Yes Bank shares hit an intraday high of ₹25.90 apiece on the BSE, gaining as much as 8.09% from previous close.

Read the full story here

• BGR Energy Systems announces plans to raise funds via a rights issue of equity shares. The board’s approval initiates the process, with a Rights Issue Committee established to oversee it.

Read the full story here

• Government initiatives aimed at grid upgrades and the incorporation of cutting-edge technology are pivotal factors propelling the power transformer industry.

Read the full story here

• Expert view: Vaibhav Porwal, the co-founder of Dezerv, believes it is time to book profits in mid and smallcaps due to their rich valuation. At the same time, he sees see value in largecaps.

Read the full story here

• A majority of FPI inflows, nearly 65% of the total for the month, were concentrated in the financial services and telecommunications sectors. During the second half of June, FPIs injected ₹8,162 crore into the financial services sector, with total inflows for the month reaching ₹9,170 crore.

Read the full story here

• The Indian stock market’s bullish momentum faces potential risks like global economic uncertainties, macroeconomic factors, political risks, and regulatory actions.

Read the full story here

• Silver prices hit 3-week high on the MCX today, driven by soft US economic data hinting at Federal Reserve rate cuts. Markets expect a rate cut in September. Inflation easing, job market slump, and cooling economy support the case for a rate cut.

Read the full story here

• Budget proposals might influence market flows, especially if capital gains tax is tweaked
• If valuations remain high, FIIs may limit participation

Read the full story here

• RVNL share price today opened with an upside gap and climbed to a new peak of ₹455 on the NSE

Read the full story here

• Ahluwalia Contracts (India) shares surged 18% to a new high of ₹1,542 apiece after the company secured a ₹572 crore construction order from the Airports Authority of India.

Read the full story here

• Multibagger stock: Ircon International share price rose by 5.5% after its joint venture secured a ₹751 crore order. The company reported a 15.1% increase in profit after taxes for the quarter ending in March 2024. Its total order book stood at ₹27,208 crore.

Read the full story here

• Following shares hit their 52 week low today – Mep Infrastructure Developers, Praxis Home Retail, Future Supply Chain Solutions, FILATEX FASHIONS

Read the full story here

• Following shares hit their 52 week high today – Bharat Electronics, Divis Laboratories, Siemens, Trent, ICICI Bank

Read the full story here

• HUDCO share price has given multibagger returns of more than 165% year-to-date (YTD) and over 468% in the past one year period. The stock is up over 538% in three years.

Read the full story here

• Let’s explore which Tata Group stock, between Tata Motors and Tata Steel, presents superior long-term investment prospects.

Read the full story here

• Bonus shares 2024: After price adjustment, Remedium Lifecare share price today opened upside and touched an intraday high of ₹20.94 apiece, logging an intraday rise of 20% on Friday

Read the full story here

• Mahindra Lifespace Developers’ shares surged 6% to ₹647 following the announcement of real estate deals worth ₹2050 crore. The deals include a redevelopment project in Mumbai and land acquisition in Bengaluru, strengthening the company’s presence in dynamic real estate markets.

Read the full story here

• Gold And Silver Prices Today:Gold And Silver Prices Today : 10 gm of 24 carat gold was at Rs.73629.0 in Delhi whereas 1 kg of silver was Rs.90200.0 in Delhi.

Read the full story here

• Stock in focus: Rajesh Palviya has recommended to buy, hold, and accumulate Laurus Labs Ltd, Lupin Ltd, and Rites Ltd today.

Read the full story here

• Nephro Care shares were listed at ₹171 apiece on the NSE SME, a premium of 90% to the IPO price of ₹90 per share.

Read the full story here

• Emcure Pharmaceuticals IPO aims to utilise funds to reduce long-term debt and focus on important therapeutic fields like gynaecology. The IPO is fairly valued, and investors are advised to subscribe for long-term benefits.

Read the full story here

• Bansal Wire IPO GMP: Shares of the company are available at a premium of ₹65 in the grey market today, say market observers

Read the full story here

• Stock Market Today: Raymonds share price rises up to 7% during opening trades on Friday as the company announced vertical demerger of its Real Estate Business

Read the full story here

• HDFC Bank share price fell as advances declined 0.8% quarter-on-quarter (QoQ) to ₹24.87 lakh crore at the end of June 2024 as compared to ₹25.1 lakh crore at the end of March 2024.

Read the full story here

• Two mainboard IPOs, Bansal Wire Industries and Emcure Pharmaceuticals, valued at ₹745 crore and ₹800 crore respectively, witnessed high subscriptions on the second bidding day. Experts suggest better allotment chances in the pharma company due to its larger size and established business model.

Read the full story here

• Stocks to buy or sell: Sumeet Bagadia has recommended buying thse five breakout stocks today — MBL Infra, Astrazeneca Pharma, Ge Power, Galaxy Surfactants, and NELCO

Read the full story here

• Bitcoin price hit an all-time high of $73,798 in March, buoyed by strong demand for inaugural US Bitcoin exchange-traded funds. However, the inflows in the token ETF have since ebbed, weighing on the Bitcoin prices.

Read the full story here

• Stocks to buy today: Experts have recommended buying these five buy-or-sell stocks: Bharat Dynamics, Aurobindo Pharma, Exide Industries, Bank of Baroda, and HCL Technologies

Read the full story here

• JPMorgan’s Marko Kolanovic had a knack for making aggressive calls, but now the analyst is out after missing a roaring bull market.

Read the full story here

• The trends on Gift Nifty also indicate a muted start for the Indian benchmark index. The Gift Nifty was trading around 24,265 level, a discount of nearly 12 points from the Nifty futures’ previous close.

Read the full story here