Tag: markets News

The BSE Metal Index surged 10% in August on expectations of rising demand in domestic markets and China relief measures. However, some analysts are cautious about the outlook for metal prices, citing the possibility of a recessionary environment in developed countries and a weakened Chinese economy.

Over 90% of stocks in Nifty 500, MidCap 100, and SmallCap 100 are trading above their 200-day moving average (DMA), indicating that the market is nearing an overbought zone. Analysts warn of a potential correction in the near term, but say that the long-term outlook for the market remains positive. Investors should take a cautious approach and look for buying opportunities during any corrections.

Zaggle Prepaid Ocean Services, a FinTech-SaaS company, is set to launch its IPO on September 14. The price band is Rs 156-164 per share, with a total issue size of Rs 402.45 crore. The company will use the proceeds to acquire and retain customers, develop technology and products, repay debt, and for general corporate purposes.