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JP Morgan may include G-Secs in the global bond index as early as next week: Morgan Stanley
Even though the government is yet to make up its mind on the inclusion of G-Secs (government securities) in global bond indices, Wall Street brokerage Morgan Stanley expects index major JP Morgan to make an announcement in this regard as early as next week. For many reasons, including the COVID pandemic, finance minister Nirmala Sitharaman told an industry gathering on…
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Gold Prices Fall As Dollar, Bond Yields Climb
Gold prices fell on Wednesday, as the U.S. dollar and Treasury yields jumped after upbeat economic data bolstered expectations that the Federal Reserve will continue hiking interest rates aggressively. Spot gold was down 0.5% at $1,692.99 per ounce as of 0330 GMT, having earlier fallen to a one-week trough. U.S. gold futures fell 0.6% to $1,703.30. “ISM services reading reminded…
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Expensive valuations? Half of Nifty50 stocks trade at discount to historical averages
Expensive valuations? The Nifty50 might have risen 10 percent in the last six months, but half its constituents are still quoting at valuations below long-term averages. They included Dr. Reddy’s Labs, among others. Many of these stocks are a ‘buy’, with analyst price targets, as per Trendline, suggesting 10 percent to 33 percent potential upsides. In the case of ONGC,…
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Pidilite Ind shares down 0.68% as Nifty gains
Shares of Pidilite Ind traded 0.68 percent down in Tuesday’s trade at 01:29PM (IST). Around 7,044 shares changed hands on the counter. The counter opened at Rs 2840.15 and touched an intraday high and low of Rs 2855.0 and Rs 2799.2, respectively, in the session so far. The stock of Pidilite Industries Ltd. quoted a 52-week high of Rs 2894.65…
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Piramal Ent. shares down 0.45% as Sensex rises
Shares of Piramal Ent. fell 0.45 percent to Rs 1015.05 in Tuesday’s session as of 12:23PM (IST) even as the equity benchmark Sensex traded 96.72 points higher at 59342.7. Earlier in the day, the stock witnessed a gap upstart to the session. The stock quoted a 52-week high price of Rs 3013.0 and a 52-week low of Rs 999.0 on…
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Crude Dips As OPEC Output Cut Symbolic At Best, A Day After Surging Over 3%
Oil dips on a symbolic OPEC+ output cut Oil prices slipped early on Tuesday, paring the previous session’s 3 per cent gain, as an OPEC deal to cut output by 100,000 barrels per day in October was seen as a largely symbolic move to stem the market’s recent slide. Brent crude futures fell 33 cents, or 0.3…
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Tech View: Nifty50 forms a bullish candle; it’s a buy on dips market, say analysts
The Nifty50 on Monday ended higher after two days of fall. The index formed a bullish candle on the daily chart and stayed in a broader range. Analysts said the index faces resistance at 17,780-800 a breach of which can attract buying. They see immediate support at 17,500. It’s a buy-on dips market, they said. Nagaraj Shetti, Technical Research Analyst…
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Stock market update: Sugar stocks up as market falls
Sugar stocks were trading higher on Tuesday. Shree Renuka Sugars(up 6.05%), Sakthi Sugars(up 6.00%), Kothars Sugar & Chemicals(up 5.18%), Ugar Sugar Works(up 4.92%), & Industries(up 4.39%), Dharani Sugars & Chemicals(up 3.69%), AVADHSUGAR(up 3.46%), Dwarikesh Sugar Industries(up 3.22%), Rana Sugars(up 2.96%) and Ponni Sugars(Erode)(up 2.92%) were among the top gainers. BAJAJHIND(down 2.56%) and EID Parry(down 0.30%) were among the top losers.…
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Concord Enviro Systems Gets SEBI Nod To Raise Funds Via Public Offering
Concord Enviro Systems, an environmental engineering solutions firm, has received Sebi’s go-ahead to raise funds through an initial public offering (IPO). The proposed IPO comprises fresh issuance of equity shares worth Rs 175 crore and an offer-for-sale (OFS) of 35,69,180 shares by promoters and an investor, according to the draft red herring prospectus (DRHP). Those selling shares in the OFS…
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Pharma Ingredients Maker Blue Jet Healthcare Files Public Offering Papers
Pharmaceutical ingredients maker Blue Jet Healthcare has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO). The IPO is completely an offer-for-sale (OFS) of up to 21,683,178 equity shares by the promoters—Akshay Bansarilal Arora and Shiven Akshay Arora—, according to the draft red herring prospectus (DRHP). The Mumbai-based Blue Jet Healthcare, is…
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