Wipro board to consider bonus issue of shares along with Q2 results
Wipro’s Board plans to consider issuing bonus shares to investors during its October 16-17 meeting while revealing September 2024 quarter results. This move aims to boost stock liquidity and affordability. The bonus shares will be fully paid and retain the same rights as existing shares.
Odds of a swift downside in Nifty appear low. Anand James explains why
Nifty Bank and Nifty weeklies cater to different types of traders. While Nifty is a broad market benchmark, Nifty Bank is a sectoral index and has the least number of constituents and a lower lot size making it the most volatile of the two
Block deals worth over Rs 16,400 crore this week. DMart, HDFC Bank among stocks with major action
Nifty ended with a weak-on-weak decline of 0.20%. Over three dozen companies from large, mid, and smallcap segments witnessed significant block deals worth Rs 16,445 crore. HDFC Bank led with 12 block counts totaling Rs 1,821 crore.
Gold may slide lower if Middle East tension remains contained. Buy on dips
Spot gold fell for six days before rebounding on October 10 and 11, supported by hotter-than-expected US inflation data and deteriorating job market and consumer sentiments.
IPO Calendar: Hyundai India and 2 other issues set to light up primary market next week
Hyundai India’s IPO is the biggest upcoming IPO, aiming to raise over Rs 27,000 crore. Two other SME IPOs and three listings are also scheduled. Garuda Construction IPO received 7.55 times subscription. The IPO pipeline for the second half looks promising with 26 companies proposing to raise Rs 72,000 crore.
FPIs net sell domestic equities worth Rs 58,711 crore in October so far on ‘Sell India, Buy China’ trend
FPIs have been net sellers of Indian equities at Rs 58,711 crore so far in October, wiping out a substantial portion of the overall inflows in 2024 in just 8 sessions. The total investments by them now stand at Rs 41,899 crore versus Rs 1,00,245 crore at the end of September.
Concurrent Gainers: 5 stocks that gained for 5 days in a row
The Sensex declined 0.38% in the past five trading sessions, but five stocks with a market cap over Rs 2000 crore consistently increased in price.
Sebi Clarifies on Debt Sale Approval Norms Post Mkt Queries
The Securities and Exchange Board of India (Sebi) has clarified that recent amendments to debt sale approvals do not necessitate board approvals for each bond issuance but require the board to be informed prior to opening the issue, addressing operational concerns from market players.
Hyundai India IPO could trigger a sector-wide positive re-rating for auto stocks
Hyundai Motor India’s upcoming IPO, valued at ₹27,870 crore, is set to be the largest public offering in the sector and is expected to attract substantial global interest and foreign capital. Analysts believe this could lead to a sector-wide re-rating for the auto industry.
Tech View: Nifty forms high wave type candle on weekly chart. Here’s how to trade next week
Nifty formed a small negative candle, indicating continued narrow range movement. The underlying trend remains choppy. Support at 24,920 and 24,750. Resistance at 25,000-050 and 25,250-275. Bears are in control, using pullback rallies to create short positions.