Posts in category Business Standard
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
Sensex sinks 1,400 pts from day’s high, hits 1-mth low of 70600: Here’s why (23-01-2024)
Nifty Realty, Oil & Gas indices declined up to 3 per cent, while Pharma index held 2 per cent gains. IT was the other gainer as investors rolled positions into defensive bets in the two segments
Medi Assist Health sees decent debut, lists at 11% premium over issue price (23-01-2024)
Post listing, the stock moved 24 per cent higher to Rs 518 on NSE. It hit a high of Rs 509.60 on the BSE in intra-day trade
Persistent Systems zooms 10% on strong Q3 results; okays 1:2 stock split (23-01-2024)
In past 6 months, the stock price of Persistent Systems has zoomed nearly 80 per cent. In comparison, the S&P BSE Sensex was up 8 per cent during the same period.
Zee plummets 30% as Sony calls off merger; CLSA downgrades stock to ‘sell’ (23-01-2024)
With Zee-Sony merger being terminated, we believe Zee's price-to-earnings (PE) will slump back to 12x levels, seen prior to the Sony merger announcement, CLSA said
In a first, India overtakes Hong Kong as world’s fourth-largest stock mkt (23-01-2024)
The combined value of shares listed on Indian exchanges reached $4.33 trillion as of Monday's close, versus $4.29 trillion for Hong Kong, according to data compiled by Bloomberg