Market Bizzz

Gold prices declined on Friday, heading for a weekly loss as a robust U.S. jobs report diminished expectations for a December Federal Reserve rate cut. Traders now see a lower probability of a cut, impacting gold’s appeal as a non-yielding asset. The strengthening dollar further pressured bullion prices.

Excelsoft Technologies’ Rs 500-crore IPO is seeing strong investor interest, with retail and non-institutional segments oversubscribed on Day 1. The grey market premium suggests a potential listing gain. The company, a global learning and assessment SaaS provider, is raising funds for expansion. Despite robust financials, the IPO is considered aggressively priced, leading to a neutral outlook for modest listing gains.

Lenovo reported a 5% decline in its second-quarter profit, even as revenue rose to $20.5 billion, slightly above market expectations. Net profit came in at $340 million, missing analyst estimates.

Barclays strategists have boosted their S&P 500 year-end 2026 target to 7,400, anticipating an 11.4% rise driven by megacap tech strength and a supportive monetary and fiscal outlook. They foresee faster tech earnings growth, though acknowledge potential headwinds for other sectors due to inflation and unemployment.

Groww shares faced unusual settlement problems after a strong rally. Over 30 lakh shares went into auction due to short sellers unable to deliver. A short squeeze intensified the price rise. While the auction settled deliveries, investors now watch for fundamental trading as extreme pressures ease. Valuations are a key concern for the future.

Gallard Steel’s Rs 37.5-crore IPO opens Wednesday, aiming to fund manufacturing expansion and debt reduction. Priced between Rs 142-150, the issue has a modest 7% grey market premium. The Pithampur-based firm, serving railways and defence, reported strong revenue and profit growth. Anchor investors have already subscribed.

We have collated a list of recommendations from top brokerage firms from ETNow and other sources.

Workmates Core2Cloud Solution is preparing for its debut on the BSE SME platform on November 18. Grey market indicators suggest a strong listing, with a premium of around 43% over the issue price. The IPO saw extraordinary demand, subscribed 141.38 times overall. This reflects investor confidence in cloud and digital transformation themes.

Fujiyama Power Systems IPO allotment status will be available on November 18. Shares will list on NSE and BSE on November 20. The IPO saw strong institutional demand but modest retail interest. Grey market indicators suggest a flat debut. Investors can check their allotment status on the registrar’s website or stock exchange sites.