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NSE SME platform today and the GMP trends are not inspiring. The shares have no premium in the grey market as was the case with many IPOs seen in the recent past.

The muted GMP is in line with the trend seen in IPOs in the recent past, where many companies are struggling to find enough premium in the grey market.

Mayuresh Joshi, Head Equity, Marketsmith India, says we are either very close to reaching a market low, or the market expects that earnings downgrades will mostly end as we enter Q4 or Q1. This has been a positive factor for the market in recent years. In the entire Nifty 500 index, only 15 stocks are currently trading above their 200-day moving average. Historically, during similar situations in 2008, 2014, or even during the COVID crash, the market typically finds its bottom in the following weeks, months, or days, depending on the timeframe. What should one make of this market? The market has been a bit range-bound in the last two to three trading sessions. How should one strategize for the future? What should the strategy be, given that a large part of correction is done for the SMIDs? Mayuresh Joshi: We have just recently published a few data points, which are sounding a little bit more optimistic as we speak. So, we have actually done three-four analyses. One, in terms of the bond yield and the Nifty earnings yield, this has largely contracted and this is coming up around 1.8, 1.9, in terms of the spread between the earnings yield and the bond yield.

Shanmuga Hospital will make its debut on the NSE SME platform on Thursday. Going by the GMP trends, the company's listing premium will likely be in the mid single digits. Compared with an IPO price of Rs 54, the GMP around Rs 3, which is a premium of 5% over the issue price.

Religare Enterprises Limited (REL) will be in focus after the Burman family gained a controlling interest in the company following the successful completion of the open offer. Their current shareholding stands at 83,201,819 equity shares, or 25.16% of the total shares. As a result of the Change of Control, the Burman family now assumes the role of Promoters of REL.

LK Mehta Polymers is carrying a marginal GMP ahead of the listing of its shares on BSE SME platform today. In the grey market, the premium is around 7% over the issue price, which was at Rs 71. The IPO — which received a healthy response from investors — proceeds will be used for meeting working capital requirements and general corporate purposes.

Walmart dampened investor risk appetite. A broad selloff pulled all three major U.S. stock indexes into negative territory, with the blue-chip Dow suffering the steepest loss. The S&P 500 snapped its two-day string of all-time closing highs.

Gold prices were little changed on Friday but remained on track for an eighth successive weekly gain, driven by concerns over U.S. President Donald Trump's tariff plans, which could spark trade wars and stoke inflation.

Stocks that were in focus include names like Just Dial, which rose 6.18% and Adani Enterprises, which declined 0.1% and JBM Auto, whose shares fell 6.2% on Thursday.

yen shot to a 2-1/2 month high on Friday on the back of a jump in Japanese inflation, while the dollar was set for a third weekly drop in a row as traders calculated the start of Donald Trump's second term has been mostly bluster on the tariff front. The yen broke through chart resistance at 150 per dollar overnight and it strengthened as far as 149.285 per dollar in the Asia morning after Japan recorded core inflation running at its fastest pace for 19 months in January.

Oil prices extended gains on Friday, headed for a weekly increase, as falling inventories of U.S. gasoline and distillate raised expectations of solid demand while concerns over supply disruptions in Russia lent support. Brent futures climbed 16 cents, or 0.2%, to $76.64 a barrel by 0123 GMT. U.S. West Texas Intermediate crude edged up 17 cents, or 0.2%, to $72.65.

Vedanta's proposed demerger plan of the unified business into separately listed verticals has received approval from its equity shareholders, and secured and unsecured creditors, the company said Thursday. This will allow the mining conglomerate to list its businesses — aluminum, oil & gas, power, steel — as separate units. At present, these businesses are subsumed within Vedanta, while Hindustan Zinc, which includes revenue streams from white metals zinc and silver, is listed separately. After the Merger, Vedanta will hold the Hindustan Zinc business.

This announcement for the VRR to be conducted at noon Friday comes on the day RBI received four times more bids under the bond purchase programme — or the open market operations (OMO) — the last among a host of liquidity infusion measures announced on January 27.

Asian stocks traded in narrow ranges after US shares fell from record highs as a disappointing forecast from the world’s largest retailer added to concern about the health of the economy. The yen strengthened past 150 per dollar. Australian shares edged higher while those in Japan ticked down due to the stronger local currency. Equity index futures pointed to initial gains in Hong Kong after a gauge of US-listed Chinese shares climbed as Alibaba Group Holding Ltd. announced its fastest pace of revenue growth in more than a year.

Analysts expect Nifty to consolidate near its current levels in the absence of any fresh triggers, as it can be seen holding above 22,800-22,900 levels since the past seven trading sessions supported by buying at lower levels.

Religare Enterprises, NTPC Green, Grindwell Norton, JM Financial, Tata Steel among others will be in focus due to various news developments. Religare Enterprises The Burman family has acquired a controlling stake in Religare Enterprises Limited (REL) after the completion of the open offer where it bought 83,201,819 equity shares representing 25.16%.

fraudulent intervention by any person, a senior Sebi official said on Thursday. «As a regulator we often come across cases of investors who have been conned by frauds in the market, who claim that they have invested their monies on behalf of the investor but those funds have just been siphoned off,» Sebi chief Madhabi Puri Buch said at the launch of unified investor apps by depositories NSDL and CDSL.

Indian equities worth ₹26,610 crore across 16 sectors between February 1 and 15 according to data from NSDL. Financial services continued to bear the brunt of unabated foreign selling as investors dumped shares of ₹5,344 crore in the first 15 days of February after selling around ₹25,000 crore in January. In 2024, they pulled out shares worth ₹58,280 crore from the sector.

The silver-to-gold ratio is currently at its all-time low of 0.01, said Sahil Kapoor, head of products & market strategist at DSP Mutual Fund. Its all-time high is 0.06.

Gold prices hit a fresh high of Rs 89,450 per 10 grams in the national capital on Thursday, advancing Rs 50 amid firm global trends, according to the All India Sarafa Association. The precious metal of 99.9 per cent purity had settled at Rs 89,400 per 10 grams on Wednesday. Gold of 99.5 per cent purity went up Rs 50 to establish a record of Rs 89,050 per 10 grams.