Weekend Wrap: From Hero MotoCorp to Solar Industries, top market movers and news of week

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 September 6, 2024.

Kuvera
Published7 Sep 2024, 10:02 AM IST
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From top news to market performance, here's the market wrap for the week ended September 6, 2024.
From top news to market performance, here’s the market wrap for the week ended September 6, 2024.

Top News

  • India's foreign exchange reserves rose to USD 683.99 billion for the week ending August 30, 2024. This increase reflects the country's financial position and its ability to manage external economic factors effectively. The rise in reserves adds to India's capacity to safeguard against currency volatility and other external shocks.
  • On the equity front, several companies made notable market entries during the week. Premier Energies had a strong listing performance, with its shares debuting at a premium of 120.22% over the issue price of 450 per share. The company's successful listing points to significant demand and confidence in its business prospects. 
  • Ecos (India) Mobility & Hospitality witnessed a premium listing of 16.77% above its issue price of 334 per share. These listings highlight the positive investor sentiment surrounding the companies.
  • ITI MF and Quant MF have launched the NFOs for ITI Focused Equity Growth Fund, and Quant BFSI Growth Fund. The NFOs close on June 12, and June 14 respectively.
  • Additionally, several initial public offerings (IPOs) garnered substantial interest from the market. Baazar Style Retail Limited's IPO was oversubscribed by 40.63 times, indicating a strong appetite among investors for the company’s stock. Gala Precision Engineering received significant investor interest, with its IPO being oversubscribed by 201.41 times. 
  • Shree Tirupati Balajee Agro Trading Company experienced an oversubscription rate of 18.34 times, demonstrating high demand for its shares. These oversubscriptions reflect positive investor sentiment and confidence in the growth potential of these companies.
  • In the mutual fund industry, leading asset management companies (AMCs) have introduced a range of new fund offerings (NFOs), providing investors with diversified investment opportunities. Bandhan AMC launched the Bandhan Nifty Midcap 150 Index Fund, targeting mid-cap investments. Kotak AMC introduced the Kotak Nifty India Tourism Index Fund, focusing on India's burgeoning tourism sector. UTI AMC launched two funds: the UTI Nifty200 Quality 30 Index Fund and the UTI Nifty Private Bank Index Fund, offering exposure to high-quality companies and private banks, respectively.
  • Invesco AMC launched the Invesco India Technology Fund, designed to capitalise on the growth potential of the technology sector. Franklin AMC introduced the Franklin India Medium to Long Duration Fund, offering investors exposure to medium to long-term debt instruments. Motilal AMC rolled out the Motilal Oswal Nifty 500 Momentum 50 Index Fund, which focuses on companies with strong momentum. HSBC AMC launched the HSBC India Export Opportunities Fund, aiming to provide investors with exposure to export-driven businesses in India.

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

 

 

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First Published:7 Sep 2024, 10:02 AM IST
Business NewsMarketsStock MarketsWeekend Wrap: From Hero MotoCorp to Solar Industries, top market movers and news of week

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