US Stock Reports, Quotes and News
As SME IPOs gain traction among investors, regulators are moving to formalise the market with stricter controls. The NSE recently imposed a cap on SME issue listing prices at 90%, independent of grey market trends. This impacted Nephro Care, which despite a 300% pre-listing GMP, debuted at only a 90% premium due to the exchange\’s price cap.
Gold and silver surged, with MCX gold August futures at Rs 72,455/10g and silver September futures at Rs 92,171/kg. Key influences were a weak US Dollar Index, Independence Day, job reports, geo-political tensions, dovish Fed comments, and international profit-taking. Volatility expected; Jain suggests buying gold on dips around Rs 72,100, sets support/resistance levels.
Indian market likely to witness consolidation on Friday following subdued global cues. Nifty future shows slight gains, with key levels and options data suggesting a narrow trading range.
France\’s CAC 40 outperformed its European peers, rising 0.7% after a volatile week of elections, where leaders of the left-wing New Popular Front are currently discussing potential candidates for prime minister.
Bulls are in full control of the market at the current juncture and are using every intraday correction to create long positions. The price action has sustained well above the moving averages in the last few days, which is an indication of steadiness. Support for Nifty is now seen at 24,350 and 24,150-200 levels. On the higher side, the immediate resistance zone is at 24,500-550 levels and the next resistance zone is at 24,750-800 levels.
The two-day event, scheduled for 20th and 22nd July starting at 11 am, will teach traders how to maximize profits and minimize risks using options. Led by Saketh R, Founder of QuickAlpha and a full-time options trader, the session will cover the basics of options trading and the best use cases for F&O for individuals.
The Dow has underperformed the S&P 500 and Nasdaq in 2024, rising only 6.4%. Tech and semiconductor stocks have led market gains, while value stocks within the Dow have struggled. Despite a weak start to the earnings season and bank stocks falling, Wall Street indices have still advanced.
Section 54F of the Income Tax Act offers an exemption on long-term capital gains earned from selling assets (excluding residential houses), if the sale proceeds are used to buy or build a new residential house.
Reserve Bank of India Deputy Governor Michael D Patra outlined India\’s potential to become the world\’s second-largest economy by 2031 and the largest by 2060, citing the country\’s inherent strengths. He addressed challenges such as labor productivity, infrastructure development, manufacturing sector contribution to GDP, and sustainable economic practices during a speech at the Lal Bahadur Shastri National Academy of Administration in Mussoorie.
Bhanshali holds 19 stocks besides Paytm, totaling over ₹5,980.4 crore. Notably, retail investors increased their stakes in the company by 1.30% in the April-June quarter, reaching 16.56%.
The conversion follows ATC calling on Vi yesterday to convert the remaining 1,600 OCDs – out of the 16,000 originally issued to it by the telco — into 160 million fully-paid equity shares.
Sandip Sabharwal predicts selloffs in overvalued defence, infrastructure, and capital goods stocks, contrasting low expectations in consumer and tech sectors. He highlights issues with AMCs\’ AUM hunger, limited defence stock options, valuation concerns, and India\’s lagging infrastructure growth. Trent\’s strong performance and insights on shipyard frenzy, durables, and the Alcobev sector are also discussed, emphasizing cash holding during results season.