Market Bizzz

A 5-year swing high represents the highest price a stock has reached within a five-year timeframe.

Mayuresh Joshi shares his outlook on sectors like Reliance’s retail businesses, real estate, and chemicals, highlighting potential recoveries and opportunities. He further suggests holding stocks like Oberoi, Godrej, and DLF in real estate, and recommends companies like D-Link, Praj Industries, and Karur in the banking sector for strong future performance.

Garuda Construction’s IPO debuts today with expected flat to negative listing; strong retail investor demand led to a 7.5x subscription. Despite a revenue and profit dip in FY24 due to election impacts, the company boasts a strong order book and superior return on net worth.

Indian investors are increasingly interested in Ethereum due to its historical gains and potential. They can buy Ethereum through platforms like Mudrex, P2P networks, and decentralized exchanges. It is important to consider factors such as fees, security, and regulations when purchasing. Long-term storage in hardware wallets is recommended for safety.

If I had to talk about the lower levels in both the indices, then I am expecting 49,000 to 50,000 in next one month on Bank Nifty and 24,000 on Nifty.

Promoters held 68.6 per cent stake in the company as of 30-Jun-2024, while FII and DII ownership stood at 7.28 per cent and 5.44 per cent, respectively.

Sebi clarified that reinsurance agreement between Bajaj Finserv’s unlisted entity BAGIC and Allianz SE qualifies as a related party transaction. Bajaj Finserv is required to seek shareholder approval and make disclosures under Sebi LODR regulations.

The Toronto Stock Exchange’s S&P/TSX composite index rose as much as 180.36 points, or 0.74%, in morning trade to touch an all-time high of 24,482.62. The index was set for its fifth consecutive weekly rise.

Snapping a three-day losing run, gold of 99.5 per cent purity bounced Rs 1,150 to Rs 78,100 per 10 grams. The yellow metal had finished at Rs 76,950 per 10 grams in the previous close.

Infosys, Wipro and HCL Technologies face high expectations amid investor concerns over a potential market correction. The 2025 financial year is seen as a recovery period for Indian IT firms after a slowdown in US client spending. All eyes will be on upcoming earnings reports and updates on significant projects, especially in AI.