Stock market this week: Top gainers and losers that drove the market momentum
Retail inflation in India dropped to2.10% in June, the lowest level in over six years. This unexpected decline in inflation, driven by falling food and energy prices, has increased expectations that the Reserve Bank of India (RBI) could consider an early interest rate cut. A potential rate cut would reduce borrowing costs for consumers and businesses, stimulate demand across sectors such as housing, automobiles, and MSMEs, and support the broader economy. This shift could also enhance credit growth and liquidity in the financial system, making it a highly positive signal for the markets.
Anthem Biosciences IPO oversubscribed ~64 times
The IPO of Anthem Biosciences, a biotech and CRDMO company, garnered massive investor interest, being oversubscribed by 63.86 times. The Qualified Institutional Buyers (QIBs) led the way with 182× subscription, followed by strong support from High Net-Worth Individuals (42×) and retail investors (5.6×). The overwhelming demand reflects investor confidence in India’s biotech potential and adds to the momentum in the country’s booming IPO market.
The bidding for the public issue opened on Monday, July 14, and closed on Wednesday, July 16. Anthem Biosciences IPO allotment date was July 17, and the IPO listing date is July 21. Anthem Biosciences shares will be listed on BSE and NSE.
New Fund Offers (NFOs) from Capitalmind and Groww AMCs
Two asset management companies—Capitalmind AMC and Groww AMC—launched fresh investment products this week. Capitalmind introduced its Flexi Cap Growth Direct Plan, focusing on a diversified equity strategy, while Groww launched aBSE Power ETF Fund of Fund, targeting India’s growing power and infrastructure sectors. These NFOs offer investors new avenues to participate in India’s economic growth through professionally managed equity exposure.
Kuvera is a free direct mutual fund investing platform. Unless otherwise stated data sourced from BSE, NSE and kuvera.
