Latest Market News Today Live Updates June 15, 2024: Oil reports best weekly gains since April on robust demand outlook for 2024; Brent up 4% at $82/bbl

• Brent crude futures last settled down 13 cents at $82.62 a barrel, while West Texas Intermediate (WTI) U.S. crude futures were down 17 cents at $78.54.

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• Godavari Biorefineries files IPO papers; eyes ₹325 crore via fresh issue

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• Hyundai Motor India IPO: Hyundai Motor Co has also picked investment banks Kotak Mahindra Capital and Morgan Stanley as its advisors for initial public offering of its arm Hyundai Motor India Limited on the domestic bourses

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• Moody’s said companies will perform better with earnings growth forecast through 2025-26, which remains 500 basis points higher than consensus. ‘Our 12-month forward BSE Sensex target is 82,000, implying 14 per cent upside.’

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• Morgan Stanley’s cautious outlook on chemical stocks persists due to ongoing challenges. Ratings downgrades were issued for Tata Chemicals, Aarti Industries, and SRF. Preference for commodity chemicals highlighted amidst market conditions.

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• Indian markets recover over 4% in June post-election drop, SAMCO sees limited Nifty upside due to high valuations. Positive outlook on Durables, Materials, FMCG, and Tech sectors. SMID picks include Jubilant FoodWorks, Honasa Consumer, Suprajit Engineering, Metropolis Healthcare, and Senco Gold.

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• Presenting a comprehensive recap of the week’s highlights, spanning from top news to stock market performance, here’s your market wrap for the week concluding on June 14, 2024.

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• Gold And Silver Prices Today:Gold And Silver Prices Today : 10 gm of 24 carat gold was at Rs.73735.0 in Delhi whereas 1 kg of silver was Rs.88010.0 in Delhi.

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• Buy or sell: For the next trading session on Tuesday, June 18, Sumeet Bagadia of Choice Broking has recommended these three stocks – Bajaj Finserv, Reliance Industries and Tata Steel.

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• Indian stock market closed on Monday, June 17 for Bakri Id, with normal trading resuming on June 18. There’s a total of 15 market holidays in 2024. Meanwhile, Sensex and Nifty 50 closed higher on Friday, June 14, led by auto and consumer durable sectors.

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• Taylor Swift’s Eras Tour in the U.K. is boosting consumer spending, potentially delaying a Bank of England interest rate cut. Analysts predict a cut in August, but Swift’s impact on inflation data could affect the timeline.

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• The increasing trend of containerization, lower cost of coastal transportation, and favourable policies will drive the cargo volumes to new records and both these companies are set to benefit big time.

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• The increasing trend of containerization, lower cost of coastal transportation, and favourable policies will drive the cargo volumes to new records and both these companies are set to benefit big time.

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• Gold Prices Today: Gold prices rose more than one per cent as lower rates tend to boost appeal for non-yielding bullion by making it a more attractive investment, compared with other assets such as Treasury bonds

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