Gift Nifty Trades Flat| Why Gold Price is Rising | SME IPOs Opening this Week | Top Buzzing Stocks Today

Mon, 17 Jul Pre-Open

   Previous Close   

   10:30 am   

   Closing   

On Friday, Indian share markets inched higher, extending gains from the previous day on hopes that the US Federal Reserve would pause rate hikes.

A faster-than-expected slowdown in US inflation reinforced bets that the Fed could end its rate hikes soon after July 2023.

Both the benchmark indices logged gains for a third straight week.

At the closing bell, the BSE Sensex stood higher by 502 points (up 0.8%).

Meanwhile, the NSE Nifty closed higher by 151 points (up 0.8%).

TCS, Tech Mahindra and Infosys were among the top gainers.

M&M and Power Grid, on the other hand, were among the top losers.

The BSE MidCap index advanced 1% while the BSE SmallCap index ended higher by 1.2%.

Sectoral indices ended on a mixed note with stocks in the IT sector, metal sector and realty sector witnessing most of the buying.

While consumer durable stocks and power stocks witnessed selling.

Shares of MRF, Bajaj Holdings and Coforge hit their respective 52-week highs.

PG Electroplast share price was in focus on Friday after the company said it will manufacture LED televisions.

Meanwhile, Monte Carlo Fashions share price surged 4% after the company declared Q1 results.

Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...

The rupee was trading at 82.16 against the US$.

Gold prices for the latest contract on MCX were trading down by 0.1% at Rs 59,228 per 10 grams at the of Indian market closing hours on Friday.

At 7:40 AM today, the Gift Nifty was trading 8 points higher at 19,627 levels.

Indian share markets are headed for a muted opening today following the trend on trend on Gift Nifty.-

Speaking of stock markets, Tanushree Banerjee co-head of research at Equitymaster talks about why she sees L&T in Sensex 2030, in her latest video.

Tune into the below video for more.

Top buzzing stocks today

Monte Carlo Fashions share price will be in focus today.

The company reported a substantial 20% growth in revenue for the quarter ending June 2023.

During the first quarter of the financial year 2023-24, Monte Carlo expanded its reach by opening 11 new exclusive brand outlets (EBOs).

These new stores include five in the northern region, two in the central region, two in the eastern region, one in the southern region, and one in the western region. With these additions, the total number of EBOs now stands at approximately 366, spread across 21 states and 4 union territories.

Granules India will also be a top buzzing stock.

The US Food & Drug Administration (US FDA) has approved Granules India's abbreviated new drug application (ANDA) for Acetaminophen and Ibuprofen tablets, 250 mg/125 mg (OTC).

It is bioequivalent to the reference listed drug (RLD), Advil Dual Action with Acetaminophen tablets, 250mg/125 mg (OTC), of GlaxoSmithKline Consumer Healthcare Holdings.

This product will be launched through Granules Consumer Health (GCH) division.

Asarfi Hospital IPO opens today

The initial public offering (IPO) of Asarfi Hospital, the multi-specialty healthcare facilities provider, will open for subscription today. The SME IPO will conclude on 19 July 2023.

Asarfi Hospital IPO comprises entirely a fresh issue of 51.8 lakh equity shares, aggregating up to Rs 269.4 million (m). The company has fixed the price band for the issue at Rs 51-52 per share.

The lot size for the IPO is 2,000 shares and the minimum investment amount required for retail investors is Rs 104,000.

The company will finalise the IPO share allotment on 24 July 24 and initiate refunds on 25 July. The credit of shares to the demat accounts will take place on 26 July.

Asarfi Hospital shares are expected to list on 27 July at BSE SME, a platform for small and medium enterprises.

Hem Securities is the book running lead manager to the public issue while cameo corporate services is the IPO registrar.

In the Asarfi Hospital IPO, 50% of the shares are reserved for Qualified Institutional Buyers (QIB), 15% for Non-Institutional Investors and remaining 35% for retail investors.

Asarfi Hospital is a 250 bedded multi-specialty hospital with 23 departments. It has 70 doctors and 242 nursing staff and 481 other staff. Its top revenue generating specialties are cardiology, neurosciences, general medicine, paediatrics & obstetrics.

The hospital has been serving people for over 15 years in Dhanbad in the eastern state of Jharkhand

Why gold price is rising in 2023

Despite the challenges posed by monetary tightening, the strengthening of the dollar index, and persistent core inflation, gold prices have risen 8% in 2023 so far.

Experts find the outlook for this precious metal promising, primarily due to the easing of inflationary pressures which may result in the end of monetary tightening.

As per MCX data, gold prices have moved from Rs 54,656 per 10 grams on 31 December 2022, to Rs 59,106 per 10 grams on Friday, rising about 8%. Equity benchmark the Sensex, too, is up 8% for the same period.

Rate hikes, the dollar's rise and the resilient US market have been the two major factors that have kept gold prices capped this year. On the other hand, inflation, economic uncertainty and geopolitical concerns support gold prices.

Experts believe that due to macro uncertainty and with central banks also increasing their gold reserves, it is important for market participants to diversify their allocation and invest in gold.

Forecasts for El Nino raise concerns on the global growth and inflation front. El Nino might lead to a rise in food inflation during the second half of 2023.

As of now, analysts and economists are expecting a mild recession in the US. Cooling inflation also gives the Fed the ability to cut rates when the economy slows. Fed might be done with hiking by July or September FOMC meetings, amid visible disinflationary trends.

Though the expectations of rate cuts in 2023 are fading, gold prices might stay buoyed for a six-month perspective as a Fed pivot might lead to a multi-year decline in the dollar index and treasury yields.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary

Top Gainers TodayTop Gainers over 1-WeekTop Gainers over 1-MonthTop Gainers over 1-YearTop Gainers over 3-YrsTop Gainers over 5-YrsTop Losers TodayTop Losers over 1-WeekTop Losers over 1-MonthTop Losers over 1-YearTop Losers over 3-YrsTop Losers over 5-YrsOnly BuyersOnly SellersMost Active StocksMost Popular Stocks52 Week High Stocks52 Week Low Stocks

INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

10 results 25 results 50 results 100 results All results

Indian Share Market Update: Top Gainers and Losers