Weekend Wrap: From Petronet LNG to Siemens, top market movers and news of week

Stock market: Presenting a comprehensive recap of the week's highlights, spanning from top news to market performance, here's your market wrap for the week concluding on October 4, 2024.

Kuvera
Published5 Oct 2024, 10:58 AM IST
Stock Market: From top news to market performance, here's the market wrap for the week ended October 4, 2024.
Stock Market: From top news to market performance, here’s the market wrap for the week ended October 4, 2024.(Abhijit Bhatlekar/Mint)

Top News

India's foreign exchange reserves saw a significant boost, increasing by USD 12.588 billion to reach an all-time high of USD 704.885 billion as of the week ending September 27, 2024.

This growth in reserves can be attributed to several factors, including rising foreign investments, positive trends in exports, and possibly interventions by the Reserve Bank of India (RBI) to stabilise the currency market. The surge indicates robust external economic health, which helps in reducing vulnerabilities to international financial uncertainties.

A higher reserve also means that India is in a stronger position to pay for its imports and manage short-term debt obligations. In uncertain global times, such reserves give India a cushion against potential external risks, such as fluctuating oil prices or geopolitical tensions.

Moreover, Manba Finance made a strong debut on the stock market, listing at a 25% premium over its issue price of 120 per share.

Similarly, KRN Heat Exchanger and Refrigeration enjoyed an exceptional start, listing at a premium of 114% over its issue price of 470. This substantial premium reflects optimism surrounding the company's market position and future prospects.

Northern Arc Capital, a financial services company focused on providing debt to under-served sectors, listed at a 15% premium over its issue price of 188. The moderate premium suggests confidence in the company's role in bridging credit gaps in the Indian market, although not as exuberant as the premiums seen with the other two companies.

Also Read | These AMCs roll out new fund offers on tech theme; should you invest?

Furthermore, Aditya Birla Sun Life AMC, ICICI AMC, and Axis AMC have each launched new fund offerings (NFOs) that cater to different segments of the investment market.

Aditya Birla Sun Life AMC introduced the ABSL CRISIL IBX AAA NBFC HFC Index Fund. This fund focuses on high-quality, AAA-rated non-banking financial companies (NBFCs) and housing finance companies (HFCs), offering a safer investment option in the debt market.

ICICI AMC launched the ICICI Prudential Nifty200 Value 30 Index Fund, which tracks the performance of 30 value stocks from the Nifty 200 index. This fund is designed for investors seeking exposure to value-driven companies with strong fundamentals.

Axis AMC unveiled the Axis Nifty500 Value 50 Index Fund, which invests in 50 value stocks from the Nifty 500 index. This fund aims to offer diversified exposure to undervalued stocks across various sectors.

Index Returns
Best Performers
Worst Performers
Bought and Sold
Most Watchlisted

Kuvera is a free direct mutual fund investing platform. Unless otherwise stated data sourced from BSE, NSE and kuvera.

Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.

MoreLess
First Published:5 Oct 2024, 10:58 AM IST
Business NewsMarketsStock MarketsWeekend Wrap: From Petronet LNG to Siemens, top market movers and news of week

Most Active Stocks

Tata Steel share price

149.70
07:18 PM | 1 NOV 2024
1.05 (0.71%)

Indian Oil Corporation share price

145.00
07:19 PM | 1 NOV 2024
2.3 (1.61%)

Tata Power share price

445.20
07:19 PM | 1 NOV 2024
5.15 (1.17%)

Bandhan Bank share price

183.65
07:10 PM | 1 NOV 2024
1.4 (0.77%)
More Active Stocks

Market Snapshot

  • Top Gainers
  • Top Losers
  • 52 Week High

Rainbow Childrens Medicare share price

1,545.00
06:59 PM | 1 NOV 2024
-67.25 (-4.17%)

ICICI Securities share price

833.45
06:59 PM | 1 NOV 2024
-32.85 (-3.79%)

Vijaya Diagnostic Centre share price

966.70
06:59 PM | 1 NOV 2024
-30.35 (-3.04%)

Narayana Hrudayalaya share price

1,235.60
06:59 PM | 1 NOV 2024
-36.75 (-2.89%)
More from Top Losers

Brigade Enterprises share price

1,244.80
07:19 PM | 1 NOV 2024
71.75 (6.12%)

PCBL share price

432.15
07:17 PM | 1 NOV 2024
21.35 (5.2%)

Piramal Pharma share price

281.85
07:17 PM | 1 NOV 2024
13.45 (5.01%)

Jubilant Pharmova share price

1,273.00
06:59 PM | 1 NOV 2024
60.65 (5%)
More from Top Gainers

Recommended For You

    More Recommendations

    Gold Prices

    • 24K
    • 22K
    Bangalore
    80,565.000.00
    Chennai
    80,571.000.00
    Delhi
    80,723.000.00
    Kolkata
    80,575.000.00

    Fuel Price

    • Petrol
    • Diesel
    Bangalore
    102.92/L0.00
    Chennai
    101.23/L0.00
    Kolkata
    104.95/L0.00
    New Delhi
    94.77/L0.00

    Popular in Markets

      HomeMarketsPremiumInstant LoanMint Shorts