Market Wrap-Up: Nifty 50 and Sensex Reach New Highs, Top Gainers and Losers, Global Market Trends, and More!

In today’s market wrap-up, Power Finance Corporation (PFC) and Rural Electrification Corporation (REC) stocks surged over 4% as Bernstein initiated coverage with an ‘outperform’ rating, setting record target prices. PFC was up 5.6% at ₹530, while REC rose 4.5% to ₹564. Analysts project further upside for both stocks, with target prices of ₹653 and ₹620, respectively.

Meanwhile, Niva Bupa IPO is under scrutiny as investors weigh the competition and growth prospects. Risks from existing competition and potential entry of LIC into health insurance are well-known, but the growing coverage under the Ayushman Bharat scheme poses a bigger risk for the health insurance sector.

WhiteOak Capital listed three reasons to invest in the banking and financial services sector, citing long-term wealth creation, historical outperformance, and recent underperformance as key factors.

In the IPO space, Bansal Wire IPO opened for subscription with a price band of ₹243 to ₹256 per share. The company has already raised over ₹223 crore from anchor investors ahead of the IPO opening.

Market experts are highlighting key trends to watch out for in the second half of 2024, including policy implications, earnings, government reforms, and global influences.

Zomato stock hit a fresh record high, posting gains in 14 of the last 15 months, with analysts upgrading ratings as the company outpaces its competitors in growth metrics.

Overall, the market is abuzz with activity, with stocks hitting new highs and IPOs generating investor interest. Stay tuned for more updates on the market trends and top gainers and losers.