Stock Market Today: In spite of mixed developments in other Asian markets following a brief but strong session on Wall Street before the Fourth of July vacation, Indian equity benchmarks Nifty and Sensex are set to open Tuesday’s session on a muted note, according to GIFT Nifty futures. The Nifty 50, the Sensex, and the Nifty Bank all reached intraday trading records on Monday, touching or crossing the 19,300, 65,300, and 45,350 marks for the first time ever.
Stock Market Today: Oil steady as markets weigh supply cuts
Tuesday’s oil price stability was due to markets balancing supply issues brought on by cuts for August by major exporters Saudi Arabia and Russia with economic data that suggested poor petroleum demand.
By 00:33 GMT, Brent crude futures were up 22 cents, or 0.3%, at $74.87 per barrel. American West Texas Intermediate crude was up 27 cents or 0.3 percent at $70.06. Tuesday will be a trading holiday in the United States due to the nation’s Independence Day holiday. The benchmark prices for oil had decreased by around 1% in the previous session.
Stocks in focus
HMA Agro Industries
With the listing of its equity shares on both the NSE and BSE exchanges, HMA Agro Industries, an exporter of frozen meat, will make its stock market debut on Tuesday, July 4. The offer price for the shares was set within the range of 555-585, and trading would start at 10 AM after the listing. At the upper band of the offer, the allocation was made. According to NSE data, the 60,54,054 shares that were up for sale in the IPO, which had a value of 480 crore, were subscribed 1.62 times, with 97,93,625 shares receiving the most interest.
Bajaj Finance
In the April through June quarter of the current fiscal year, Bajaj Finance’s loan book increased 34% to 9.9 MM from 7.2 MM during the same period last year. In its business report for the first quarter of fiscal 2023–24, the major NBFC noted that, as of June 30th, 2023, its client franchise was at 72.98 MM, up from 60.30 MM in the corresponding time in the previous year. According to a regulatory statement made by Bajaj Finance to the public exchanges on July 3, the business saw its highest-ever quarterly gain in its customer franchise, up 3.84 MM in Q1 FY24.
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