Posts in category Business Standard
Zydus Life, ICICI Bank: Stocks to buy in current market set-up (24-01-2024)
On the broader market outlook, Vinay Rajani technical & derivative analyst of HDFC Securities says the Nifty has confirmed a bearish trend reversal, and could see further downside in coming days.
Bank Nifty, Financial Services Indices: Plan to enter near support areas (24-01-2024)
According to Ravi Nathani, an independent technical analyst, anticipated support
levels on charts for Bank Nifty are identified around 44,600, 43,500, and 42,900.
Medi Assist Healthcare shares surge 11%; Nova Agritech IPO subscribed 9.7x (23-01-2024)
The initial public offering (IPO) of Nova Agritech garnered nearly 10 times subscription on Tuesday, the opening day of the issue. Most of the bids on the first day came from individual investors
Promoters can offer shares to staff via stock exchange mechanism: Sebi (23-01-2024)
In a move aimed at ensuring ease of compliance and lower costs, Sebi on Tuesday said promoters of companies can give shares to their employees under the Offer For Sale (OFS) through the stock exchange mechanism.
At present, shares under OFS are offered to the staff outside the stock exchange mechanism.
Based on the feedback received from stakeholders, Sebi noted it is observed that the said procedure is time-consuming, and involves additional costs and multiple activities.
Against this backdrop, the Securities and Exchange Board of India (Sebi) has decided on a new system that will be in addition to the existing one with respect to OFS for companies' employees.
Under the new system, OFS to employees would be on T+1 day along with the retail category under a new category 'Employee'.
"In order to enhance efficiency, ease of compliance and reduce cost, based on deliberations in the Secondary Market Advisory Committee of Sebi and discussions with stock exchanges and clearing corporati
Rs 8 trillion D-Street wipeout as markets shed 1.5%; Zee stock falls 30% (23-01-2024)
Selloff led by banks, oil and gas stocks, FMCG, and metals
Zee Entertainment tanks 30% to worst single-day fall after Sony deal fails (23-01-2024)
After the deal with Sony was terminated, nearly half a dozen brokerages downgraded Zee's stock while lowering the earnings multiple assigned to the cash-strapped company
Bank of Japan meeting gives yen a jolt, euro dips amid global volatility (23-01-2024)
After that excitement, however, the yen last traded flat on the day at 148.0 per dollar, having been as weak as 148.6 and as strong as 146.9
Investors’ wealth erodes by Rs 8.50 trillion as stock markets tumble (23-01-2024)
Equity investors became poorer by Rs 8.50 lakh crore on Tuesday as markets came under a bear attack, with the benchmark Sensex falling almost 1,053.10 points.
Equity benchmark index Sensex tumbled 1,053 points to close below the 71,000 level on Tuesday, dragged down by index heavyweights HDFC Bank, Reliance Industries and SBI amid mixed global cues.
Following the decline in the benchmark index, the market capitalisation of BSE-listed companies eroded by Rs 8,50,820.81 crore to Rs 3,65,97,915.97 crore.
The market capitalisation of BSE-listed companies stood at Rs 3,74,48,736.78 crore on January 20.
Domestic equities opened on a positive note but soon drifted into red witnessing a huge sell-off amid profit booking, said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.
Global sentiments turned cautious after a Fitch Group statement that South Asian economies would be most affected, amid rising hostilities in the Red Sea due to Houthi attacks and India'
Benchmark 10-yr bond yields steady at 7.1% as traders await fresh cues (23-01-2024)
India's benchmark 10-year yield ended at 7.1751%, following its previous close at 7.1790%. India's bond markets were shut on Monday and will be closed on Friday
Rupee falls 9 paise to close at 83.16 against dollar on weak sentiment (23-01-2024)
The rupee depreciated 9 paise to 83.16 (provisional) against the US dollar, as elevated crude oil prices and weak domestic equities weighed on investor sentiments.
Forex traders said foreign fund outflows also put pressure on the rupee. However, a weak US Dollar overseas cushioned the downside.
At the interbank foreign exchange market, the local unit opened at 83.11 and finally settled at 83.16 (provisional) against the dollar, down by 9 paise from its previous close.
During the day, it witnessed an intraday high of 83.06 and a low of 83.17 against the American currency.
On Friday, the rupee settled at 83.07 against the US dollar.
"We expect the rupee to trade with a slight negative bias on weak domestic markets and selling pressure from foreign investors.
"Any further increase in crude oil prices may also weigh on the rupee. However, positive global markets and a weak Dollar may support the rupee at lower levels. Traders may remain cautious ahead of Richmond manufacturing index