Brokerages remain bullish on a set of stocks across sectors, with strong upside potential seen in Tata Consumer Products, Hexaware Technologies, Welspun Corp, Navin Fluorine International and Urban Company.
The retail portion was subscribed 2.42 times, while the qualified institutional buyers (QIBs) category recorded 1.32 times subscription. The non-institutional investors (NIIs) segment saw stronger demand, with the issue subscribed 5.68 times.
The IPO, which was open for subscription between August 18 and August 20, received a blockbuster response from investors, with the issue subscribed 105.81 times overall.
Today is the last opportunity for investors to buy the shares so that they are credited to their accounts by Wednesday, making them eligible for the stock split.
On August 24, four Nifty500 stocks that gained 4% were identified using the RSI Trending Up scan, based on data from StockEdge.com. An uptrend signal is generated when the RSI value crosses above 50 from below, indicating strengthening price momentum and potential upward movement in the stocks.
As long as the stock is priced above the 200-day SMA on the daily timeframe, it is generally considered to be in an overall uptrend.
Brent crude futures were up 6 cents, or 0.1%, at $92.16 a barrel, while U.S. West Texas Intermediate crude was up 15 cents at $85.12. Both contracts fell more than 2% on Monday, with U.S. crude touching a one-week low as investors took profits following a rally over the previous two weeks.
On Tuesday, the U.S. dollar showed weakness against key currencies as investors reacted to new sanctions on Iran and attempts to reduce Treasury yields. The euro and pound both saw minor increases, approaching their recent highs. Additionally, Bitcoin enjoyed a notable weekly surge, bolstering its upward trajectory. Market watchers are eager for insights from Federal Reserve Chair Warsh's upcoming address regarding potential policy shifts.
MF Performance
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