Sensex Today | Stock Market LIVE Updates | Sensex and Nifty opened little changed on Tuesday, with traders anticipating profit-taking as benchmark indexes remain close to record highs. Meanwhile, the global rally fueled by hopes of a U.S. rate cut has come to a halt.
Sensex Today | Stock Market LIVE Updates | There are both headwinds and tailwinds for the market now. Headwinds are coming from the escalation of the geopolitical tensions in the Middle East and Ukraine. Brent crude has shot up above $ 81. The strongest tail wind comes from the expected rate cuts by the Fed which will spill over to other central banks including the RBI. The Indian economy now needs monetary stimulus through rate cuts and this is likely in the next policy meeting, said Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
Cryptocurrency Prices: Bitcoin falls below $63,000; Dogecoin, Chainlink drop up to 4%
Major cryptocurrencies fell on Tuesday due to profit-taking, affecting Bitcoin (BTC), Ethereum (ETH), and Solana. The global cryptocurrency market cap dropped by 1.8%, bringing it to approximately $2.2 trillion over the past 24 hours.
As of 12:45 pm IST, Bitcoin was down 1.4%, trading at $62,862, while Ethereum decreased by 2% to $2,686.
Stock Market LIVE Updates | Kela-Singhania Stock Jumps 45% Since April
Shilpa Medicare, a stock owned by Madhusudhan Kela and Sunil Singhania, has surged 45% since its allocation to these investors four months ago during a qualified institutional placement (QIP).
Singhania acquired 6 lakh shares through the Abakkus Diversified Alpha Fund-2, while Kela's joint venture fund, Cohesion MK Best Ideas Sub-Trust, received over 8.79 lakh shares.
Cohesion MK Best Ideas Sub-Trust is a partnership between Cohesion Investments and Madhusudan Kela.
Stock Market LIVE Updates | Ecos Mobility and Hospitality IPO to open tomorrow
IPO of Ecos Mobility and Hospitality is set to open for subscription on August 28-August 30.
The allocation for anchor investors will be finalized later today.
Ahead of IPO, the company's shares are trading with a GMP of Rs 150, suggesting a 45% premium over the issue price.
The IPO, which consists solely of an offer for sale (OFS) of 1.8 crore shares, is priced between Rs 318 and Rs 334 per share.
As this IPO is an OFS, all proceeds will be directed to the selling shareholders.
European stock markets open higher
European stock markets opened higher on Tuesday, with traders focusing on the possibility of a U.S. interest rate cut. London's FTSE 100 index, which had been closed on Monday due to a holiday, increased by nearly 0.5 percent in early trading, reaching 8,364.84 points. Meanwhile, the Paris CAC 40 advanced 0.3 percent to 7,610.98 points, and the Frankfurt DAX edged up 0.1 percent to 18,638.70 points.
Stock Market LIVE Updates | Japan's Nikkei rebounds as softer yen trumps tech losses
Japan's Nikkei share average bounced back on Tuesday, buoyed by a halt in the yen's rise, which supported export-related stocks and offset earlier losses from declines in technology shares.
The Nikkei ended the day up 0.5% at 38,288.62, while the broader Topix climbed 0.7% to 2,680.8.
Stock Market LIVE Updates | Mid-day Market Update
- Nifty50 inches towards fresh lifetime high
- Broader market indices- Small & midcaps outperform
- India VIX eases over 1%
Source:Â indiatimes
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