Optimism around poll outcome, capex seen, attractive valuations seen as triggers
Posts in category Business Standard
Australia Market tumbles 1.3% as inflation spikes (29-05-2024)
At closing bell, the benchmark S&P/ASX200 index dropped 101.08 points, or 1.3%, to 7,665.63. The broader All Ordinaries index was down 99.18 points, or 1.23%, to 7,935.68.
Rupee falls 22 paise to close at 83.40 against US dollar on crude prices (29-05-2024)
The rupee settled 22 paise lower at 83.40 against the US dollar on Wednesday, tracking a negative trend in domestic equities, elevated crude oil prices, and foreign fund outflows.
Forex traders said dollar demand from importers and oil marketing companies (OMCs) also weighed on the rupee.
However, foreign inflows in the bond markets ahead of inclusion on India’s government bonds in global bond index cushioned the downside.
At the interbank foreign exchange market, the local unit opened at 83.22 and finally settled for the day at 83.40, down 22 paise from its previous close.
On Tuesday, the rupee pared initial gains to settle 5 paise lower at 83.18 against the US dollar.
“We expect the rupee to trade with a slight negative bias on month-end dollar demand from OMCs and importers to meet their obligations. Risk aversion in global markets and a strong US dollar may further pressurize the rupee,” said Anuj Choudhary, Research Analyst at Sharekhan by BNP Paribas.
However, fresh foreign
BJP failing to cross the halfway mark could trigger selloff, say brokerages (29-05-2024)
However, the most likely outcome is BJP crossing 300 seats, predict brokerages
FPIs may lose exemption benefits as Sebi issues updated SOPs for custodians (29-05-2024)
The SOP also provides certain examples of the structures followed by regulators in other jurisdictions like the United States and Australia
India to begin wheat imports after six years, to shore up reserves (29-05-2024)
As the new-season wheat harvest rolls in, the government is likely to wait until after June to scrap the import tax, in time for Russia’s harvest, the sources said
BlackRock’s $20 bn ETF is now world’s largest bitcoin fund: Report (29-05-2024)
The exchange-traded fund held $19.68 billion of token on Tuesday, overtaking Grayscale Bitcoin Trust’s $19.65 billion, report said, citing data compiled by Bloomberg
Board of Tata Steel approves infusion of funds in T Steel Holdings (29-05-2024)
At meeting held on 29 May 2024
Board of Jubilant Pharmova approves change in directorate (29-05-2024)
At meeting held on 29 May 2024
Karur Vysya Bank announces cessation of director (29-05-2024)
With effect from 25 May 2024