The market news today is buzzing with updates on various fronts. From commodity news to stock market updates, there is a lot to catch up on.
Starting with the commodity market, oil prices have reported their best weekly gains since April, with Brent crude futures up 4% at $82 per barrel. This surge is attributed to a robust demand outlook for 2024. On the other hand, gold prices are on track to hit their first weekly gain in four weeks, driven by renewed hopes of a US Fed rate cut.
In the stock market, Godavari Biorefineries has filed a Draft Red Herring Prospectus (DRHP) with SEBI to raise ₹325 crore via a fresh issue. Meanwhile, Hyundai Motor India is gearing up for its IPO, with investment banks Kotak Mahindra Capital and Morgan Stanley on board as advisors.
In other news, Moody’s has predicted that the Sensex could hit 82,000 in the next 12 months, citing macro stability as a key factor. However, Morgan Stanley has downgraded chemical stocks like Tata Chemicals, Aarti Industries, and SRF due to ongoing challenges in the sector.
For investors looking for stock recommendations, Sumeet Bagadia of Choice Broking has recommended buying Bajaj Finserv, Reliance Industries, and Tata Steel for the next trading session.
Overall, the market seems to be buzzing with activity and opportunities. Stay tuned to Mint’s market blog for real-time updates on all things Dalal Street and global markets.
