Markets up over 3%, Chemcon Lists 72% higher, intraday jargon simplified, & more...
-Weekly Review-
Sensex: 38,697 ▲ 3.49%
Nifty: 11,417 ▲ 3.32%
Sensex and Nifty are up over 3% compared to last week. The week before this one, the markets were down around 4%.
Why were they down?
In last week’s digest, we wrote - nobody really knows. We can only make educated guesses.
Why is it up this week?
The same answer - nobody truly knows.
So do we never know the reason?
When talking about the markets, nothing is absolutely clear. But it can be sort of clear.
Things are never black or white. They’re different shades of grey. And the greys can be grey, or they can be very close to white or black.
In 2016, Brexit was announced. The implications of that were unclear. People were afraid the euro might suffer. The effects of that might spill over to the USA and eventually the world.
Within 2 days of announcing of the Brexit referendum results, the US index Dow Jones fell by almost 5%.
In a case like that, we can say with reasonable certainty that the markets fell because of the Brexit referendum results.
Are we 100% sure?
No, we can never be 100% sure. But we can be very close to 100% sure. Or somewhere in between.
Why have the markets behaved the way they have over the last 2 weeks?
This is one of those - very hard to say why - very grey.
---------------------
CAMS and Chemcon IPO List on the Markets.
The much sought after CAMS and Chemcom IPO finally listed on the markets on the 1st of October.
CAMS
The CAMS IPO was oversubscribed by over 47 times. Its issue price was Rs 1,230 per share.
At the end of the day, the stock was up 13.95% higher at Rs 1,401.6 per share.
Chemcom
The Chemcon Speciality IPO was oversubscribed by over 149 times. Its issue price was Rs 340 per share.
At the end of the day, the stock was up 72% higher at Rs 584.80 per share.
---------------------
US Trump Tests Positive
News came in that the president of the USA has tested positive along with his wife.
It could have some implications on the global markets. Especially in light of the upcoming US elections.
The current US president’s impact on the US-China relations has been a negative signal for the markets for quite some time now.
And the man standing against Donald Trump in the upcoming elections is Joe Biden whose ideology is much different from Trump’s.
Business and the markets like certainty. They do not like big quick changes.
So who becomes the next US president is an important piece of information that all businesses and companies want to know.
A sitting US president testing positive for SARS-CoV-2 could mean many things.
Will he not be able to fight the elections as strongly?
What happens if he falls drastically ill before the final elections?
Will that improve Joe Biden’s chances?
Or will a wave of sympathy help Trump come back to office?
Such uncertainty has been known to unsettle the markets - at least temporarily.
More News in Numbers
$4.4 Billion: Investment amount received by Reliance Retail so far.
293,100 Cars: That is the number of cars sold in September 2020. This is much higher than the number of cars sold in September 2019 (234,100).
22.48% Up PVR stocks are up 22.48% since Sept 24 - on news that multiplexes will be allowed to operate from Oct 15 at 50% capacity. Shares of Inox Leisure were also up 15% over the same time.
Markets this week
Sensex: 38,697.05 ▲3.49%
Nifty: 11,416.95 ▲3.32%
🥇 Gold: Rs 50,420 ▲1.53%
🥈 Silver: Rs 60,533 ▲2.55%
Down Jones: 27,682.81 ▲2.00%
Nasdaq: 11,075.02 ▲1.47%
All percentages above are weekly ups/downs.
HAPPY INVESTING!
See you tomorrow!
Post a Comment
Post a Comment