Sylvan Plyboard IPO Fully Subscribed on Day 1: Latest Market News and Updates for June 24, 2024 – Check GMP, Subscription Status, and Key Details of SME IPO

0
56

Market Wrap-Up: Latest Updates on Nifty 50, Sensex Movements, and More!

The stock market is abuzz with activity today, with various updates and developments shaping the trading landscape. Here are some of the key highlights from today’s market news:

1. **IPO News**: The Sylvan Plyboard IPO was fully subscribed on Day 1, with the price set at ₹55 per share. Investors can check the latest GMP and subscription status of this SME IPO.

2. **Stock Market Trends**: India’s long-dated bonds are attracting investors, with the country’s stable finances and currency making it a hot play among emerging markets.

3. **Capital Goods Sector**: Companies like L&T, ABB, and Siemens are seeing strong FPI interest, with net equity investments of $723 million in May. The sector is attracting key buyers despite overall net selling of equities.

4. **Market Analysis**: Experts are weighing in on the impact of the SEBI probe on Quant MF, with some anticipating a short-term outflow from the fund but no major risks to investors’ wealth.

5. **Stock Picks**: Analysts are bullish on stocks like PVR, INOX, and Kalyan Jewellers, expecting them to rise 8-17% in the next 3-4 weeks. Investors are advised to focus on fundamentally and technically sound stocks.

6. **Market Volatility**: Nifty 50 is expected to remain volatile with a bullish bias, with technical analyst Rupak De recommending stocks like RVNL, Granules India, and Suzlon Energy.

7. **Market Highs and Lows**: Several stocks hit their 52-week highs and lows today, including Zuari Industries, Seamec, and Future Supply Chain Solutions.

8. **Commodity Prices**: Gold and silver prices are fluctuating, with 10 gm of 24-carat gold priced at ₹74492.0 in Delhi and 1 kg of silver at ₹90850.0.

9. **Market Outlook**: The derivatives market is signaling a potential decline, with retail and HNI investors turning bearish while foreign investors are bullish.

10. **IPO Performance**: GP Eco Solutions IPO listed with a 299% premium at ₹375 per share, exceeding market expectations.

These are just a few of the updates shaping today’s market movements. Investors are advised to stay informed and keep track of real-time updates on their favorite companies through Mint’s market blog.