The consumer price index (CPI) report for February will be released on March 12. Later in the week, investor attention will turn to the producer-focused index. The two releases are among the last major economic reports expected before Federal Reserve leaders convene for their March policy meeting.
Posts in category Business Standard
Selective buying pushes key indices up, broader market tanks (12-03-2024)
Domestic equity benchmarks closed slightly higher on Tuesday, led by gains in IT stocks. The Nifty 50 index surpassed the 22,300 mark. Selective buying in large-cap stocks lifted key indices into positive territory despite a volatile session. However, the broader market witnessed sharp corrections, with PSU banks, media and metal stocks declining. Bucking the trend, IT and private bank shares advanced. Investors now await upcoming inflation data in the US and India, hoping for further moderation that could pave the way for an interest rate cut.
Gulshan Polyols wins order from Excise Dept., Govt. of Madhya Pradesh (12-03-2024)
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Gopal Snacks IPO ends with 9x subscription (12-03-2024)
The offer received bids for 10.81 crore shares as against 1.19 crore shares on offer.
Indoco Remedies to purchase land for expansion purpose (12-03-2024)
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NSE SME IPO of Signoria Creation subscribed 35.76 times (12-03-2024)
The offer received bids for 5.10 crore shares as against 14.28 lakh shares on offer.
Jubilant Ingrevia partners with O2 Renewable (12-03-2024)
To power its manufacturing facilities from green energy
GBPUSD Slips Below $1.28 Mark On Soft UK Employment Data; All Eyes On US Inflation (12-03-2024)
UK pound eased on Tuesday following United Kingdom ONS reported softer-than-expected Employment data for the three months ending in January. The Unemployment Rate climbed to 3.9%, higher than expectations and the prior reading of 3.8%. UK employers laid off 21K workers against hiring of 72K job-seekers in three months ending in December. In February, the Claimant Count Change grew moderately by 16.8K from expectations of 20.3K. In January, individuals claiming jobless benefits were 3.1K, downwardly revised from 14.1K. Earnings including bonuses rose at a slower pace of 5.6%, against the consensus of 5.7% and the prior reading of 5.8%. The soft employment data and slower earnings could mean BOE could start reducing rates earlier than expected, Meanwhile, recovery in dollar index ahead of US inflation data is also adding pressure on the British pound alongside peers. Currently, GBPUSD is trading at $1.2797, down 0.08% on the day. On the NSE, GBPINR futures eased below 106 to be …
China Market falls 0.4% (12-03-2024)
At close of trade, the benchmark Shanghai Composite index declined 0.41%, or 12.52 points, to 3,055.94. The Shenzhen Composite Index, which tracks stocks on China’s second exchange, added 0.82%, or 14.39 points, to 1,770.57. The blue-chip CSI300 index fell 0.23%, or 8.28 points, to 3,597.49.
Nifty March futures trade at premium (12-03-2024)
NSE India VIX slipped 2.55% to 13.64.