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上海龙凤419

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上海龙凤419

US stocks: Goldman profit beat, easing rate-hike bets drive Wall Street higher

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U.S. stock indexes rose on Monday after Goldman Sachs beat profit expectations, extending last week’s positive momentum amid easing bets of a super-sized interest-rate hike by the Federal Reserve. The Dow rose over 200 points in early trading, picking up from Friday when U.S. economic data showed stronger-than-expected retail sales, an uptick in consumer sentiment and lower inflation expectations. The S&P 500 banks index added 0.9% on Monday, with Bank of America Corp reversing earlier declines to rise 1.3%, even as it posted a nearly 34% drop in second-quarter profit. “You’re getting the feeling that perhaps all the bad news …

上海龙凤419

Hindustan Zinc share price soars 6% on interim dividend announcement; should you buy, sell or hold?

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Hindustan Zinc share price surged 6 per cent to Rs 288 apiece on BSE on Thursday after the company board approved interim dividend for FY23. The company said that the dividend payout of Rs 21 per share i.e. 1050% on face value of Rs 2 apiece would lead to an outflow of Rs 8,873 crore. The record date for payment of the dividend would be 21 July and the dividend would be paid within the stipulated timeline, the company said. Technical analysts said, there is a 50-DMA at 279 in Hindustan Zinc stock. “So it would be important to see …

上海龙凤419

Gold expected to remain under pressure for now, avoid bottom fishing till US Fed meet

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By Bhavik Patel Gold breached the psychological level of $1700 briefly before staging a weak bounce back yesterday. Gold market saw a crash of nearly $40 as now investors are preparing for a 100 basis point rate hike after US CPI came higher than expected. Before inflation data, the market had expected a 75 bps rate hike but now overnight sentiment has changed which saw huge inflows in the US dollar and blanket-wise selling in all sectors. The Bank of Canada surprised the markets with a 100-basis-point hike on Wednesday, warning that inflation will remain elevated for the next three …

上海龙凤419

Rupee falls to hit 80 mark briefly, may depreciate further on strong US dollar, pessimistic market sentiments

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The Indian rupee is likely to depreciate further on Friday amid strong dollar and pessimistic global market sentiments. Additionally, consistent FII outflows and concerns on looming recession may hurt the local unit. “Further, investors are expected to remain vigilant ahead of crucial economic data from the US and statements from Fed officials. US$INR (July) is expected to trade in a range of 79.60-80.20,” said ICICIDirect. In the previous session, rupee briefly touched Rs 80 mark intraday on the offshore non-deliverable forward (NDF) market. The domestic currency settled at a new record low of 79.90, down 18 paise from the previous …

上海龙凤419

Global Markets: European shares fall as rate hike bets keep investors cautious

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European shares fell on Thursday and the safe-haven dollar rose after the latest red-hot U.S. inflation reading increased investor fears about Federal Reserve rate hikes and a possible recession. Wednesday’s data showed U.S. consumer prices jumped 9.1% year-on-year in June, up from May’s 8.6% rise.The data was seen as firming the case for the Federal Reserve to raise rates aggressively. Policymakers might consider a 100 basis point increase at the July meeting, Atlanta Federal Reserve Bank President Raphael Bostic said. By 1106 GMT, Europe’s STOXX 600 index was down 1% at an 8-day low. London’s FTSE 100 was down 0.9%.The …

上海龙凤419

Barring dollar, rupee has risen against key currencies: Surge mirrors strong macro fundamentals, says FinMin official

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Even as the rupee tests the psychological 80-per-dollar mark, it has not just held up against other major global currencies but appreciated considerably against them this year, in a “testament to the resilience of the Indian economy”, a senior finance ministry official told FE. Since January, the rupee has appreciated 4.97% against the euro, 6.25% against the British pound and 12.25% against the Japanese yen. This is in sharp contrast with its 6.9% fall against the dollar in the wake of a rate tightening by the US Federal Reserve and consequent capital flight, and the adverse impact of the Ukraine …

上海龙凤419

HDFC Bank share price falls after lender reports strong first quarter earnings; should you buy, hold or sell?

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HDFC Bank share price slipped in early trade on Monday after the private lender reported strong first quarter earnings last week. HDFC Bank on July 16 reported a 20.9% on-year jump in consolidated net profit to Rs 9,579 crore for the quarter ended 30 June 2022. Meanwhile, Net interest income (NII) stood at Rs 19,481.40 crore, up 14.5 per cent on-year. HDFC Bank shares were quoting at Rs 1,357.95, down Rs 5.90 or 0.43 percent on the BSE intraday. So far this year, the stock has plunged over 11 per cent, underperforming even benchmark Nifty 50. However, analysts remain bullish …

上海龙凤419

Market share of 4 public sector general insurers falls to 37.86% at end of Q1

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State-run general insurers continue to lose market share in terms of gross direct premium underwritten to their private peers. Collective market share of the four public sector general insurance companies fell 426 basis points year-on-year to 37.86% at the end of the first quarter this fiscal. All four PSU insurers — New India Assurance, United India Insurance, Oriental Insurance Company and National Insurance Company — lost market shares during the 12-month period ended June 30. New India Assurance, which continues to have the highest market share in the general insurance space at 17.53%, lost 235 basis points year-on-year during the …

上海龙凤419

Maharashtra cuts value added taxes on petrol by Rs 5/litre and by Rs 3/litre on diesel

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The Maharashtra government on Thursday reduced value added tax (VAT) on petrol by Rs 5 a litre and by Rs 3 a litre for diesel, a move that will cost the state exchequer Rs 6,000 crore on an annual basis. The decision on reducing the VAT has been taken at a meeting of the Cabinet under newly-appointed chief minister Eknath Shinde. Sources in the oil marketing companies (OMCs) said that they are yet to receive any notification from the state government in this regard as yet. At retail outlets, fuel prices are generally revised in the morning. The prices of …

上海龙凤419

LIC’s embedded value at Rs 5.41 trillion in March-end

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Life Insurance Corporation of India’s (LIC) Embedded Value (EV) was at Rs 5.41 trillion at the end of March, significantly higher than Rs 95,605 crore at the end of March, 2021, the insurer said on Thursday. The increase is due to the bifurcation of fund into separate participating and non-participating funds, pursuant to changes in the LIC Act, 1956. Earlier, the insurer had only one fund and the valuation surplus from the participating (par) and non-participating (non-par) business was distributed between policyholders and shareholders in a ratio of 95:5. The LIC stock has lost nearly 25% since it listed on …

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