Market News Today: Updates on Nifty 50, Sensex, IPOs, and Stock Recommendations – July 2, 2024

In today’s market wrap-up, investors are keeping a close eye on the latest movements of the Nifty 50 and Sensex. The top gainers and losers are being closely monitored, along with the performance of Asian and US markets. Sectors that are leading the charge or declining are also under scrutiny.

One of the key highlights of today’s market news is the upcoming IPO of Ganesh Green Bharat, which is set to kick off for subscription on July 5. The price band for the IPO has been set at ₹181-190 per share, with retail investors needing to apply for a minimum of 600 shares costing ₹1.14 lakh. The company is engaged in solar PV modules production and has completed projects under government schemes.

In other news, Nomura has turned bullish on the Indian IT sector, upgrading companies like Infosys, TCS, HCL Tech, and Wipro. The positive outlook is driven by revenue growth bottoming out, with top picks in the sector being highlighted.

Additionally, multibagger stocks like Godawari Power & Ispat, EPL, and MIC Electronics have been making significant gains in the market, showcasing impressive returns over the past months and years.

Investors are also eagerly awaiting the listing of Vraj Iron and Steel IPO tomorrow, with strong subscription status hinting at a solid listing. Ambey Laboratories IPO is also set to open on July 4, with the price band fixed at ₹65-68 per share.

Overall, the market is ripe for consolidation, with experts like Rahul Ghose of Hedged.in suggesting that certain stocks may perform well in FY25. The Union Budget 2024 is also a key focus for investors, with expectations for control over fiscal deficit and policy decisions that focus on the long term.

Stay tuned to Mint’s market blog for real-time updates on these and other market developments.