Market enthusiasts and investors, here’s your daily dose of the latest market news today live updates!
In the commodity market, oil prices snapped their weekly streak and settled 1% lower due to ceasefire talks in the Middle East. Brent crude futures closed at $86.54 a barrel after reaching their highest level since April. On the other hand, WTI crude oil prices were up 2%.
Moving on to the stock market, Nvidia’s stock received a rare downgrade from New Street Research analyst Pierre Ferragu. Despite posting a remarkable 154% return this year, valuation concerns prompted the downgrade from a ‘buy’ to a ‘neutral’ rating.
In the IPO space, Bansal Wire IPO’s grey market premium jumped to ₹70, indicating strong subscription status. Emcure Pharma IPO also saw steady demand with shares trading at a premium of ₹331 in the grey market.
For stock market enthusiasts, Radhika Gupta of Edelweiss Mutual Fund shared insights on factors that impact returns in your stock portfolio. Additionally, a weekend wrap-up highlighted the top market movers and news of the week.
In the commodity market, gold and silver prices saw fluctuations, with gold prices climbing to a six-week high on rising optimism for a US Fed rate cut.
SEBI’s surprise inspections of top mutual fund executives and their digital devices made headlines, while Sumeet Bagadia recommended buying SBI, Marico, and ONGC stocks on Monday.
Chinese and Indian stocks are being favored over Japan in Asia’s second half, with equities in these countries expected to outperform. Sovereign funds are also flocking to India with billion-dollar investments, despite caution from FIIs and PEs.
Stay tuned for more real-time updates on your favorite companies and sectors on Mint’s market blog!
