Insider Secrets: Unveiling the Sizzling Stock Market Surge & High-Stakes IPO Buzz!

In Wednesday’s market activity, the Sensex and Nifty, two key equity benchmarks, closed the day positively despite mixed global cues ahead of the release of US inflation data. Investor sentiment received a boost from better-than-expected domestic retail inflation figures for August. The S&P BSE Sensex surged by 246 points, closing at 67,467 points, while the Nifty50 settled at 20,070 points, marking an increase of 77 points.

The US Labor Department reported a 3.7 percent rise in the consumer price index for August compared to the previous year. When excluding the volatile food and energy sectors, often referred to as “core inflation,” prices increased by 4.3 percent. This is a decline from the 4.7 percent recorded in July and represents the smallest increase in nearly two years, as reported by CNBC TV18. It’s noteworthy that this figure remains significantly above the Federal Reserve’s 2 percent inflation target.

Reports attribute the August inflation uptick to the recent surge in petrol prices. Both Saudi Arabia and Russia are actively working to boost oil prices, aiming for the $100 per barrel threshold. Consequently, Brent crude has already reached a 10-month high, trading at approximately $92.50.

Financial markets responded cautiously to the inflation data, as evidenced by the minimal movement in the yield on the two-year Treasury, which is sensitive to interest rates, remaining nearly unchanged. Additionally, the S&P 500 stock index experienced a slight decline of 0.2 percent, according to a report from FT.

In other news, the European Central Bank (ECB) is poised to announce its decision from the monetary policy meeting scheduled for Thursday, September 14. This follows the ECB’s previous move to raise interest rates by a quarter-point in its July meeting, marking the highest level in 23 years. The ECB has indicated its willingness to take further action as needed to combat rising inflation amid a challenging economic environment, suggesting the possibility of another interest rate hike in its ongoing efforts to address global inflationary pressures.

IPO Update:

Zaggle Prepaid Ocean Services is launching its IPO on September 14, with a subscription window open until September 18. The IPO is priced between Rs 156 to Rs 164 per share, with a lot size of 90 shares and multiples thereof. The IPO comprises a fresh issue worth Rs 392 crore and an offer for sale (OFS) of Rs 171.38 crore, resulting in a total issue size of Rs 563.38 crores. The funds raised will be allocated for various purposes, including customer acquisition, product development, corporate expenses, and loan repayment.

Samhi Hotels’ IPO, valued at Rs 1,370.10 crores, is also set to open for subscription on September 14 and will remain open until September 18.

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