The Indian rupee pared its early gains to close lower by 1 paisa at 83.53 (provisional) against the US currency on Monday, snapping its six-day gaining streak due to a strengthening dollar in overseas markets and an uptick in crude oil prices. A decline in India’s Services PMI also affected the investor sentiment while gains in domestic equity markets capped losses in the local unit. However positive equities capped downside in the local unit. Indian shares ended Monday’s session higher, helping key benchmark indexes Sensex and Nifty close at fresh record high levels for a third day running. The benchmark S&P/BSE Sensex touched a fresh record high of 84,980.53 before closing at 84,928.61, up 384.30 points, or 0.45 percent, from its previous close. The broader NSE Nifty index reached a record high of 25,956 before ending the day up 148.10 points, or 0.57 percent, at 25,939.05 – extending its winning streak for a fourth consecutive session. Earlier in the day, the rupee opened at ..
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Benchmarks rise for 3rd day, Nifty ends above 25,900; M&M jumps 3.3% (23-09-2024)
The domestic equity benchmarks continued their winning streak on Monday, closing with decent gains for the third consecutive day. The benchmark Nifty index settled above the 25,900 level, buoyed by a combination of factors including the recent Federal Reserve rate cut, and expectations of a change in stance by the Reserve Bank of India. Several sectors contributed to the market’s rise, with PSU banks, realty, and energy shares witnessing strong demand. However, IT, private banks, and healthcare stocks faced some pressure.
Manba Finance IPO subscribed 23.67 times (23-09-2024)
The offer received bids for 20.82 crore shares as against 87.99 lakh shares on offer.
NTPC Green Energy’s Rs 10,000 cr IPO likely in November first week (23-09-2024)
NTPC Green Energy, a subsidiary of state-owned power giant NTPC, is likely to bring its initial public offering (IPO) to raise Rs 10,000 crore in first week of November, a source said.
Last week, NTPC Green Energy had filed preliminary papers with capital markets regulator Sebi to raise Rs 10,000 crore through IPO.
The highly placed source said the IPO is expected to be launched in first week of November this year.
The company has planned roadshows in India (Mumbai) as well as abroad, especially in Singapore, the source informed.
The initial share-sale is entirely a fresh issuance of equity shares with no offer-for-sale (OFS) component, according to the draft red herring prospectus (DRHP).
The company said proceeds of the issue to the tune of Rs 7,500 crore will be used to repay or prepay part or all of its subsidiary NTPC Renewable Energy Ltd’s (NREL) outstanding loans, while a portion will be utilised for general corporate purposes.
The filing comes at a time when the country’s
Australian markets down after seven straight positive sessions (23-09-2024)
The benchmark S&P/ASX200 dropped 0.69 percent to 8,152.90 while the broader All Ordinaries index settled 0.63 percent lower at 8,384.20.
Chinese markets edge higher after PBoC cuts key rate (23-09-2024)
The dollar held steady in Asian trade while gold reached a new record high ahead of key U.S. economic data, speeches from Federal Reserve officials and central bank meetings in Australia, Sweden and Switzerland due this week.
PSP Projects wins work order of Rs 554.92 cr (23-09-2024)
1. Construction of Gold Stone Hotel and Commercial Towers at Bangalore, Karnataka worth Rs 389.29 crore (excl. GST) in Institutional Category. The projects are to be completed within a period of 22 months and 16 months respectively.
Nifty September futures trade at discount (23-09-2024)
NSE India VIX surged 7.77% to 13.79.
Quick Wrap: Nifty PSU Bank Index records a surge of 3.41% (23-09-2024)
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Indices rally for 3rd day; Sensex, Nifty hits new life high; VIX spurts 7.77% (23-09-2024)
As per provisional closing data, the S&P BSE Sensex advanced 384.30 points or 0.45% to 84,928.61. The Nifty 50 index rose 148.10 points or 0.57% to 25,939.05.