Latest Market News Today Live Updates July 18, 2024: Oil stabilize as signs of economic

• By 11:41 a.m. EDT (1541 GMT), Brent futures had edged up by 1 cent to $85.09 a barrel, while U.S. West Texas Intermediate (WTI) crude increased by 6 cents to $82.91. Both benchmarks had recorded gains in the previous session.

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• The company informed the stock exchanges that it has allocated 1,61,10,000 equity shares at ₹95 per share to anchor investors on Thursday, July 18, 2024.

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• The WazirX hacker is reportedly selling the stolen tokens, which include $100 million worth of shiba inu and $52 million in ethereum.

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• Chandan Taparia has recommended three stocks to buy tomorrow, July 18. According to him, these stocks – Marico, ICICI Bank, TCS – are technically placed to see a decent upmove.

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• The Dow Jones fell 0.10%, the S&P 500 was higher 0.36%, the Nasdaq gained 0.68%

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• The brokerage highlights several favorable factors, including a normal monsoon and stable global commodity prices, which are expected to curb inflation and bolster rural demand. Additionally, there is anticipation of interest rate reductions later this year.

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• Industry experts emphasise the need for divestment of government stakes in banks, tax parity for mutual funds, measures to promote digitalisation, and support for green financing in the upcoming Union Budget.

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• The alternative investment arm of Motilal Oswal Financial Services, Motilal Oswal Alternates has closed two transactions from its sixth real estate fund, India Realty Excellence Fund VI, with a cumulative investment of ₹190 crore.

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• Prizor Viztech IPO sees massive demand, with NII and QIB portions subscribed 280 and 94.54 times. Allotment status can be checked through the registrar, Bigshare Services Pvt. Ltd.

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• Sanstar IPO, among India’s top manufacturers of plant-based specialty products, opens for subscription on Friday, July 19. The company aims to raise ₹510.15 crore through a new issuance and offer-for-sale.

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• Aelea Commodities IPO, valued at ₹51 crore, closed with overwhelming demand. The company plans to use the net proceeds for setting up a new manufacturing unit, purchasing machinery, and for general corporate purposes. Allotment status can be checked online.

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• Stock Pick: IRB Infrastructure having gained169% in a year has given Multibagger returns to investors. It remains momentum pick of HDFC Securities. Check for 5 key technical reasons why HDFC Securities expects more than 13% gains for the stock

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• Nifty IT index hit 40,000 milestone today, gaining 2.10%. Five index constituents reached new 52-week highs. Factors include strong financial performances, optimism on Federal Reserve rate cut.

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• Top Gainers and Losers Today : The Sensex gained 626.91 points, or 0.78, to settle at 80716.55, while the Nifty gained 187.85 points, or 0.76, to close at 24613.0.

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• Management claimed the weak performance in Q1 was due to subdued demand and not the threat of competition from Grasim Industries’s Birla Opus. But that didn’t prevent a slew of brokerages from downgrading their earnings forecasts.

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• Multibagger SME IPO was launched at ₹165 in September 2023 and it listed on NSE at ₹330

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• Jhaveri Credits and Capital has shown exceptional growth, with its stock price surging by 18642% in four years, solidifying its position as a lucrative penny stock investment.

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