Market Bizzz

Grasim Industries, incorporated in the year 1947, is a Large Cap company (having a market cap of Rs 117559.76 Crore) operating in Diversified sector.

Indian stock markets surged to a six-month high with Sensex rising 400 points and Nifty crossing the 18,700 mark as it reacted positively to macro data and strong global trends. The FMCG sector rose 1.38%, while consumer durables climbed 1.8%. Real estate, too, showed a jump of 2.94%. Stocks such as MRF and Olectra Greentech were among those in focus. Experts at SSJ Finance & Securities recommend buying at the current level and dips of INR 97,000 for MRF and Olectra Greentech, with resistance around INR 940 and selling at INR 201 for ZEE.

Apple’s shares hit an all-time high of $183.79, their first in more than a year. The stock has surged by over 41% in 2023, compared to the Nasdaq 100 Index’s gains of 35%. The company’s balance-sheet strength, dependable revenue streams, capital-return program, recent performance, and industry-expanding plans have bolstered investor confidence. Apple, with its roadmap and incredible business model, is one of the few stocks that investors remain optimistic about owning even though it may fluctuate, said Wayne Kaufman, chief market analyst at Phoenix Financial Services.

Asian shares opened higher on Tuesday, boosted by gains in US equity markets and expectations of a Federal Reserve interest rate pause following a Fed policy meeting this week. The central bank’s approach towards inflation, as indicated by the Consumer and Producer Price Index data due out over the next two days, will be closely watched by investors. Japan’s Nikkei surged 1.59%, while broadest bourse gauge MSCI Asia-Pacific index was up 0.3% in early trading. China’s Central Bank cut its seven-day reverse repo rate by 10 bps from 2.00% to 1.90% to bolster the country’s economy.

The PE (private equity) landscape recorded 84 deals, raising $3. 9 billion in May this year. The startup sector continued to dominate deal activity, accounting for 55% of total PE deal volumes.