Avi Ansh Textile’s shares are set to debut on the NSE SME platform today, with a marginal grey market premium hinting at a 3% listing gain. The company, known for its Pooja Gold cotton yarn, has shown consistent revenue growth and operates in India’s expanding textile sector, supported by favorable policies and incentives.
Posts in category Economic Times
Disclosures by Sebi members not said to face checks for violations (27-09-2024)
Disclosure requirements for board members at India’s capital market regulator are under scrutiny following allegations against chairperson Madhabi Puri Buch. The current system requires members to disclose holdings but lacks thorough verification, raising concerns about potential conflicts of interest. Calls for revamping rules to mandate trading plans and approvals have emerged.
US polls to test optimism in stocks, says Goldman Sachs (27-09-2024)
The US presidential election may impact investor optimism in the stock market, despite a recent recovery. Goldman Sachs strategists highlight concerns over policy uncertainty, especially regarding corporate tax reform. Additionally, doubts about the benefits of high spending on artificial intelligence could affect stocks. International diversification might offer more advantages towards year-end.
Silver surges to highest since 2012 as precious metals rally (27-09-2024)
Silver reached its highest level since 2012, while gold hit a new record as expectations for further Federal Reserve interest-rate cuts boosted precious metals. Silver climbed to $32.71 an ounce, extending this year’s gain to 37%. Gold hit a record of $2,685.58 an ounce before paring gains to trade at $2,664.85.
$900 mn inflows! Trent, BEL, Canara Bank to enter Nifty50 today (27-09-2024)
Trent, Bharat Electronics, and Canara Bank are set to benefit from the Nifty indices rebalancing on Friday. Divi’s Laboratories and LTIMindtree will exit the Nifty 50 index, likely facing selling pressure. The National Stock Exchange will also rebalance other indices like Nifty Bank and Nifty Next 50 based on semi-annual reviews.
D-Street at record high: Bullish F&O rollovers suggest momentum likely to continue (27-09-2024)
Traders have carried forward bullish futures bets to the October derivatives series as India’s stock benchmarks, NSE’s Nifty and BSE’s Sensex, hit record highs. Analysts suggest the momentum is likely to continue, with Nifty potentially reaching 26,500-26,600 levels. The Volatility Index dropped, indicating reduced market risk.
PB Fintech shares on a wild swing on plans of healthcare foray (27-09-2024)
PB Fintech stock experienced a significant drop of up to 10% before recovering to close at ₹1,694.95 on the BSE, down 1.6% from the previous day. The volatility followed reports that the company is considering launching a chain of hospitals. Investors were concerned about the high operational costs and competition in the healthcare sector.
GIFT Nifty signals a muted start for D-Street. Here’s the trading setup for today’s session (27-09-2024)
Domestic equities continue to hit fresh highs, driven by positive global and domestic cues. Nifty closed at a record high for the fifth consecutive session. Analysts expect bullish momentum to persist, with significant data from US Q2 GDP & PCE numbers to watch. Oil prices fell due to anticipated increased supplies.
Gold holds steady with spotlight on key US inflation data (27-09-2024)
Gold prices remained steady after reaching a record high, driven by expectations of another U.S. interest rate cut and safe-haven demand. Investors are now awaiting key inflation data for further direction. Meanwhile, silver prices dipped slightly after hitting a 12-year peak, and platinum and palladium showed minor fluctuations.