Weekend Wrap: From HPCL to Tube Investments, top market movers and news of week | Stock Market News

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According to recent data from the Association of Mutual Funds in India (AMFI), monthly contributions to mutual fund Systematic Investment Plans (SIPs) have surpassed ₹24,000 crore for the first time. This milestone highlights the growing popularity of SIPs among Indian investors, who are increasingly relying on this disciplined, periodic investment approach to build wealth and achieve financial goals over the long term.

On Friday, November 1, 2024, the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) will hold a special trading session known as ‘Muhurat Trading’ between 6 PM and 7 PM IST. Muhurat Trading is a unique, one-hour session held every year on the occasion of Diwali, marking the start of the Hindu New Year as per the traditional lunar calendar. This session is considered highly auspicious, with traders and investors viewing it as a way to invoke prosperity and good fortune for the year ahead. During Muhurat Trading, market participants come together to buy and trade stocks with positive sentiments, and it’s often a time when families, especially those involved in the stock market, partake in symbolic trading.

Waaree Energies experienced massive demand, with its IPO oversubscribed by 79.44 times. Similarly, Deepak Builders & Engineers saw an impressive response, with its IPO being oversubscribed by 41.54 times. This strong demand suggests confidence in the company’s growth potential and its presence in the construction and engineering sectors, which are central to India’s infrastructure expansion. Meanwhile, Godavari Biorefineries saw a more moderate but solid interest, with its IPO oversubscribed by 1.86 times

Zerodha Asset Management Company (AMC) has launched a new fund offer (NFO) for the Zerodha Gold ETF Fund of Funds (FoF). This fund of funds will invest in underlying Gold ETFs, which track the price of physical gold. The NFO closes on 08th November 2024.

Kuvera is a free direct mutual fund investing platform. Unless otherwise stated data sourced from BSE, NSE and kuvera.