Jyoti Global Plast's IPO is set to open. The IPO combines fresh shares and an offer-for-sale. Early sentiment shows a premium in the grey market. The company raised funds from anchor investors. Jyoti Global Plast specializes in plastic molding. They supply to various sectors. The company has shown growth in profit and revenue.
The dollar experienced volatility following a disappointing U.S. jobs report and President Trump's controversial actions, including the dismissal of a labor official. These events fueled speculation of imminent Federal Reserve rate cuts, impacting Treasury yields and currency valuations. While the dollar recovered slightly against the yen, markets anticipate a more dovish stance from the Fed in the coming months.
The Reserve Bank of India (RBI) reduced the repo rate by 100 basis points between February and June 2025, bringing it down to 5.5%. Banks responded with a 58 bps drop in the weighted average lending rate (WALR) on fresh loans in June, reaching 8.62%.
Amidst escalating trade tensions initiated by the US, European corporations are strategically diversifying their banking relationships, shifting away from Wall Street giants. This shift has proven beneficial for leading European banks, which are actively securing additional business.
Amidst Nifty's fifth consecutive week of losses, traders are eyeing stock-specific opportunities. Kaynes Technology and Jindal Stainless show bullish potential, while Jio Financial Services is expected to test higher levels. Conversely, Indraprastha Gas and Dr. Reddy's Laboratories face bearish sentiment. Exide Industries and Federal Bank are also anticipated to underperform in the near term, according to analysts.
A $5 billion dollar-rupee swap from late January is set to reverse on Monday, potentially removing 43,000 crore from the banking system if the RBI delivers dollars fully. This operation, part of a series to ease liquidity, coincides with existing surplus liquidity and an upcoming CRR cut.
Nifty has been on a five-week decline, facing resistance around 24,800-25,000, and may continue to experience pressure. Analysts suggest healthcare, cement, and FMCG sectors could show strength, while advising caution on IT and metal stocks. A break below 24,500 could trigger further selling, with potential support levels around 24,000-23,800.
Foreign portfolio investors (FPI) significantly increased their investments in the Indian primary market in July, reaching $1.7 billion, driven by a surge in IPO activity. However, FPIs became net sellers in the secondary market due to global uncertainties, resulting in a net outflow when considering both primary and secondary markets.
About 3,200 workers at Boeing facilities in St. Louis; St. Charles, Missouri; and Mascoutah, Illinois, voted to reject a modified four-year labor agreement with Boeing, the International Association of Machinists and Aerospace Workers union said Sunday.
