Latest Stock Market News

Wall Street indexes declined as investors awaited potential hawkish remarks from Federal Reserve Chair Jerome Powell at the Jackson Hole symposium. Concerns about interest rate cuts and Walmart s disappointing quarterly results also weighed on sentiment. Traders have reduced bets on a September rate cut. Consumer staples led sector declines, with Walmart shares tumbling.

Gold prices remained stable as investors awaited Jerome Powell s speech at the Jackson Hole symposium. The U.S. dollar s strength impacted gold s appeal to overseas buyers. Fed officials seemed hesitant about a rate cut. The market anticipated clarity on potential rate cuts. Jobless claims rose, indicating labor market softness. Vladimir Putin demanded concessions from Ukraine.

The U.S. dollar is holding steady, anticipating Federal Reserve Chair Jerome Powell s speech, which could influence near-term interest rates. Despite earlier hopes for rate cuts fueled by a weak jobs report, cautious comments from policymakers have tempered expectations. Market pricing indicates a 75% chance of a rate cut in September.

Oil prices experienced minimal fluctuations on Friday, poised to end a two-week losing streak as hopes for a swift resolution between Russia and Ukraine diminished. The ongoing conflict, marked by recent attacks and stalled peace talks, has increased risk premiums. Prices were further bolstered by a significant drawdown in U.S. crude stockpiles, signaling robust demand.

A 5-year swing high represents the highest price a stock has reached within a five-year timeframe.

Anondita Medicare s IPO, valued at ₹69.5 crore, opened on Friday, offering 47.93 lakh equity shares with a price band of ₹137-₹145. The IPO, set to list on NSE SME around September 1, has a strong GMP of 40%.

GST rate reductions are likely to boost FMCG sector. Tax rebates, interest rate cuts, and favorable monsoon are also expected to help. Bikaji, Emami, Nestle, and Dabur may benefit from GST cuts. Bikaji could see double-digit volume growth. ITC and Godfrey are experiencing good volume growth. Rural demand is expected to grow faster than urban demand.

The allotment for Shreeji Shipping Global s Rs 411 crore IPO will be finalised today. The IPO was oversubscribed significantly. Investors can check their allotment status online. Refunds for unallotted shares will be initiated soon. Successful bidders will have shares credited to their accounts. The company plans to use IPO funds for expansion and debt repayment.

Classic Electrodes, a welding consumables manufacturer based in Kolkata, is launching its IPO on August 22, aiming to raise ₹41.51 crore through a fresh issue of shares. The company intends to use the IPO proceeds for purchasing new machinery, repaying debt, and meeting working capital needs. Ahead of the IPO, Classic Electrodes raised ₹11.69 crore from anchor investors.