MARKET OVERVIEW :
Share Market Watch on June 18, 2024
Nifty 50 inches towards 23,550, led by ICICI, HDFC Bank, M&M.
Hyundai Motor India plans mega IPO:
Indian benchmark indices Nifty 50 and Sensex opened today’s trade session at fresh record highs and continue to trade in the green.
Stock Market LIVE Updates | Nifty 50 opened at 23,570.80, while Sensex opened at 77,235.31. In the week gone by, Nifty 50 gained in four of five trading sessions. IIFL Finance, Hindustan Aeronautics, Zomato, HFCL, Zydus Life, SBI, LIC, TCS, Biocon, ONGC, Oil India, Wipro, Adani Enterprises, RVNL, are among the stocks in focus today.
Stock Market LIVE Updates | Top Stocks To watch:
Here are a couple of stock recommendations by technical analyst.
– For Persistent Systems at a target of Rs 3,950 with a stop loss of Rs 3,800
–For Piramal Enterprises at a target of Rs 960 with a stop loss of Rs 899
Stock Market LIVE Updates | IIFL Finance Shares Rise 9% After Management Commentary On RBI Issues, Gold Loans
Shares of IIFL Finance Ltd. were trading with gains of up to 9% on Tuesday, June 18. This was after the company said that they have addressed all that they could from the Reserve Bank of India’s (RBI) observation perspective.
Despite today’s gain, IIFL Finance shares are down 27% from their 52-week high of ₹683.78. So far this year, shares of IIFL Finance have declined 15%, underperforming a 8% rise in the benchmark Nifty 50 index.
Stock Market LIVE Updates | HDFC Bank May Take Bank Nifty To 60,000 Within A Year, Says One Analyst
Nifty Bank, the index of India’s 12 biggest banking stocks, recently scaled 50,000 after doubling in the last six years. It may add another 10,000 before 2024 ends, according to Gautam Shah, Founder and Chief Strategist at Goldilocks Premium Research, a technical research firm.
It took Nifty Bank over two and a half years to go from 40,000 to 50,000, a 25% rise. If Shah is right, the next 10,000, which would be a 20% gain, could come in much faster.
Hyundai Motor India plans mega IPO:
(SEBI) for its Initial Public Offering (IPO). This is expected to be the largest in the
Hyundai Motor’s Indian business filed draft papers on Saturday for what could be one of India’s biggest initial public offerings (IPOs), which the South Korean automaker said was aimed at increasing its brand image and providing liquidity in the country.
Reports suggest that the company aims to raise between $2.5 billion and $3 billion, approximately ₹25,000 crore at the higher end of the estimate. If successful, this IPO will surpass the current record held by Life Insurance Corporation (LIC) of India, which raised around $2.45 billion. Here are some of India’s largest IPOs: