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MUMBAI: On Thursday, the benchmark Sensex for Indian equities fell 290 points to close below the 58,000 level following a sell-off in sectors related to banking, finance, and IT amid a sluggish trend in European equities.Meanwhile, intense selling pressure in Reliance Industries, an index heavyweight, increased the pressure, according to brokers.The 30-share BSE Sensex dropped…
Because it was in line with expectations on the street, the US Federal Reserve’s modest rate increase should have improved market sentiment. However, the U.S. Treasury Secretary’s comments on insurance over depositors at bankrupt banks —- dampened the mood, and the Fed’s rate rise booster was unable to keep bulls on stocks. Indian markets suffered…
The board of Indraprastha Gas Ltd. (IGL), a distributor of natural gas, authorised the declaration of the second interim dividend of 10 rupees per share for the fiscal year 2022–2023 on Thursday (FY23). In the afternoon dealings on the BSE, shares of IGL were trading slightly higher after hitting an intraday low of $439 per…
The Federal Reserve increased interest rates by a quarter of a percentage point on Wednesday, but it also signalled that it was about to halt further rises in borrowing costs due to recent market volatility brought on by the failure of two US banks.With new estimates showing 10 of 18 Fed members still expect rates…
Investors were uneasy even before central banks around the world were able to control inflationary pressures due to a possible spread of the US and European banking crisis. In fact, a systemic credit risk is currently the top tail risk for the markets, according to the BofA March Global Fund Manager Survey. As a result,…
As the government announced an offer for sale (OFS) to sell a 3.5% stake in Hindustan Aeronautics Ltd. at a floor price of Rs. 2,450 per share, shares of HAL fell more than 5% to Rs. 2,475 per share on the BSE. The government announced on Wednesday that it intends to sell up to 3.5%…
Future and option (F&O) traders on the stock market will need to exercise extra caution starting in the following fiscal year because the NSE has decided to end the “Do Not Exercise” (DNE) option for them as of March 30, 2023. Since the stock market will be closed on March 30 to observe Ramnavmi across…
MUMBAI: After a two-day surge, equity indexes fell in the opening trading on Thursday, going along with a sluggish trend in the world markets.The pressure was increased further by a negative trend in index heavyweights Reliance Industries and IT counters.After a shaky start, the 30-share BSE Sensex dropped 341 points to 57,873.59. The NSE Nifty…
India will use an offer for sale to sell up to a 3.5% stake in its aerospace and defence company, Hindustan Aeronautics (HAL) (OFS). The sale will start on March 23 and go through March 24. The 3.5% stake sale was made up of a base offer of 1.75% and an option of 1.75%. Through…
Two Adani Group companies, the flagship Adani Enterprises (AEL) and Adani Ports, experienced a sudden increase in trader interest at the start of November, which caused the stock prices to rise sharply before dropping in February after the publication of a report by US short-seller Hindenburg Research. This ultimately resulted in the cancellation of AEL’s…
