Posts in category Business Standard
INR Edges Higher As Nifty Touches Fresh All-Time High (12-06-2024)
The Indian rupee appreciated 3 paise to close at 83.56 (provisional) against the US dollar on Wednesday, on positive domestic market, wherein benchmark sensitive index Nifty touched a fresh all-time high. The benchmark 30-share BSE Sensex hit high of 77,050 before closing up 149.98 points, or 0.20 percent, at 76,606.57. The broader NSE Nifty index hit a fresh record high at 23,442 before settling at 23,322.95, up 58.10 points, or 0.25 percent, from its previous close. A slight pull back in dollar strength ahead of crucial set of data also supported the local unit although elevated crude oil prices weighed on the local unit and restricted the upmove. Meanwhile, investors await the release of U.S. inflation data as well as the Federal Reserve's rate decision later in the day for additional clues on the Fed's rate trajectory. On the domestic front, industrial output and inflation data are due out later in the day.
INR Edges Higher Amid Positive Equities (12-06-2024)
The Indian rupee appreciated 3 paise to close at 83.56 (provisional) against the US dollar on Wednesday, on positive domestic market, wherein benchmark sensitive index Nifty touched a fresh all-time high. The benchmark 30-share BSE Sensex hit high of 77,050 before closing up 149.98 points, or 0.20 percent, at 76,606.57. The broader NSE Nifty index hit a fresh record high at 23,442 before settling at 23,322.95, up 58.10 points, or 0.25 percent, from its previous close. A slight pull back in dollar strength ahead of crucial set of data also supported the local unit although elevated crude oil prices weighed on the local unit and restricted the upmove. Meanwhile, investors await the release of U.S. inflation data as well as the Federal Reserve's rate decision later in the day for additional clues on the Fed's rate trajectory. On the domestic front, industrial output and inflation data are due out later in the day.
Groww’s active client base tops 10 mn; becomes 1st broker co to attain feat (12-06-2024)
Zerodha Broking, which is the country's most profitable brokerage, has UCCs of 7.51 million, cornering an 18 per cent market share
Singapore Exchange Market closes marginally down (12-06-2024)
At closing bell, the Straits Times Index (STI) index was down 1.77 points, or 0.05% to 3,307.44 after trading between 3,303.52 and 3,323.21s. Across the broader market, decliners outpaced advancers with 309 to 247, with 1.23 billion securities worth S$1.02 billion changed hands.
Nifty June futures trade at premium (12-06-2024)
The NSE's India VIX slipped 2.55% to 14.39.
Euro Finds Support As Dollar Pulls Back Slightly Ahead Of US CPI, FOMC (12-06-2024)
Euro is steadying against the dollar on Wednesday after having stumbled to near a six week low due to political uncertainty in the Eurozone. Eurozone saw political instability after French President Emmanuel Macrons decision to call for a snap election after suffering a defeat by Jordan Bardella-led far-right National Rally. Besides, dollar staying cautiously lower ahead of a pair of data from US is supporting the single common currency. EURUSD pair is quoting at $1.0758, up 0.10% on the day. All eyes are glued to upcoming US inflation and FOMC outcome that is likely to provide fresh cues on timing of Federal Reserve (Fed) rate cuts.
Dee Development Engineers eyes Rs 418 crore via IPO; to open on Jun 19 (12-06-2024)
Piping solutions provider Dee Development Engineers Ltd on Wednesday said it is looking to raise Rs 418 crore through its initial share sale, which will open for public subscription on June 19.
The issue, with a price band of Rs 193-203 apiece, will conclude on June 21. The bidding for anchor investors will open for a day on June 18.
The initial share sale comprises fresh issuance of equity shares worth Rs 325 crore and an offer for sale of 45.82 lakh equity shares valued at Rs 93 crore by promoter and CMD Krishan Lalit Bansal at the upper end of the price band. This takes the IPO size to Rs 418 crore.
Currently, Bansal owns a 74.74 per cent stake in the company.
Of Rs 325 crore proceeds, Rs 175 crore will be used for payment of debt, Rs 75 crore for funding the working capital requirements, and the remaining 75 crore will be used for general corporate purposes, the company's CFO Sameer Agarwal told PTI in an interaction.
Half of the issue size has been reserved for qualified ...
Hong Kong Hang Seng tumbles 1.3% (12-06-2024)
At closing bell, the benchmark Hang Seng Index stumbled 238.50 points, or 1.31%, to 17,937.84. The Hang Seng China Enterprises Index dropped 92.70 points, or 1.44%, to 6,359.36.
China Stocks gain 0.31% on mild inflation data (12-06-2024)
However, market gains capped after reports that the Biden administration is considering further restrictions on China's access to chip technology used for artificial intelligence.
Quick Wrap: Nifty Media Index gains 1.89% (12-06-2024)
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