Posts in category Economic Times
Swiggy gets Sebi nod for $1.25-billion IPO (25-09-2024)
Swiggy has received market regulator approval for its $1.25-billion IPO, signaling strong interest in new-age investments amid India’s consumer boom. The Bengaluru-based company will raise ₹3,750 crore in fresh capital and offer up to ₹6,664 crore through an offer-for-sale. Major investors like Prosus and SoftBank are expected to sell part of their holdings.
GIFT Nifty signals a negative start for D-Street. Here’s the trading setup for today’s session (25-09-2024)
Domestic equities reached new highs with Sensex surpassing 85,000 and Nifty breaking 26,000. The rally was driven by positive domestic cues, healthy foreign investments, and the start of the US Fed’s rate cut cycle. Investors are now looking forward to US Consumer Confidence data for further market direction.
Gold stays near record high on MidEast risks, softer dollar (25-09-2024)
Gold prices remained steady near record highs on Wednesday, supported by a weaker dollar and heightened Middle East conflict. Investors are closely watching for new signals on U.S. interest rates. Spot gold held at $2,658.07 per ounce, while U.S. gold futures rose slightly to $2,682.60.
Oil prices steady as China stimulus hopes fade, U.S. crude stockpiles fall (25-09-2024)
Oil prices steadied on Wednesday after a rise on Tuesday due to China’s economic stimulus measures. Despite the initial boost, analysts believe more fiscal help is needed. Falling U.S. crude and fuel inventories supported the market, along with concerns over Middle East tensions and a hurricane’s changed course away from oil-producing areas.
S&P 500, Dow close at new highs as mining stocks rise on China stimulus boost (25-09-2024)
The S&P 500 and Dow closed at record highs on Tuesday, driven by a surge in mining stocks following China’s announcement of a major stimulus package. Despite weak U.S. consumer confidence data, sectors like metals and mining outperformed. Federal Reserve Governor Michelle Bowman warned that inflation remains above target, necessitating caution in rate cuts.
Stocks in news: EaseMyTrip, Exxaro Tiles, NBCC, PC Jewellers, Delta Corp, Tata Power (25-09-2024)
Equity markets closed nearly unchanged on Tuesday. Shares of EaseMyTrip, Exxaro Tiles, NBCC, PC Jewellers, Delta Corp, and Tata Power will be in focus due to various developments. Notable updates include promoter stake sales, block deals, Supreme Court petitions, stock splits, qualified institutional placements, demergers, and a fire incident at Tata Power’s Trombay plant.
Rahul Dravid, Karan Johar and other top celebrities grab a share of Swiggy’s pre-IPO pie (25-09-2024)
A number of celebrities from various fields are endorsing Swiggy by acquiring its pre-IPO shares. This includes sports stars, actors, and entrepreneurs. Swiggy’s innovative approach in food delivery and grocery services has attracted significant interest. The company’s upcoming IPO is anticipated to be highly lucrative for early investors.
D-Street bulls party as Sensex breaches 85K and Nifty tops 26K for the first time (25-09-2024)
India’s key stock indices reached all-time intraday highs, with the Nifty crossing 26,000 and the Sensex breaching 85,000. Despite a choppy session, the indices ended flat. Market sentiment was boosted by rate cuts from the US Federal Reserve and measures from China’s central bank to revive its economy.