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Share Market Highlights: Sensex ends 246 pts higher, Nifty above 16300; ICICI Bank, Axis Bank lead gains

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Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic benchmark indices managed to extend gains in a choppy session amid gains in PSU and select private banks, financial services, and select heavyweight stocks. The S&P BSE Sensex surged 246 points higher to close at 54,768, while the NSE Nifty 50 reclaimed 16,300-mark to end at 16,341. Axis Bank, IndusInd Bank, M&M, Tata Steel, Ultratech Cement, Bajaj Finserv, Bharti Airtel, SBI, Coal India, Eicher Motors, and ICICI Bank were the top gainers, up between 1-2.3 per cent. On the flipside, ONGC, Nestle India, HDFC Life, Sun Pharma, Tata Consumer, …

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Done my best to lead NSE in difficult period: NSE’s outgoing chief Vikram Limaye

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NSE’s outgoing Managing Director and CEO Vikram Limaye on Saturday said he has done his best to lead the exchange in a very “difficult period” and to stabilize and strengthen the bourse. Limaye, whose five-year term ended on Saturday, did not seek another tenure at the National Stock Exchange (NSE) despite being eligible for it.However, the exchange did not announce who is taking over the helm of the NSE from Limaye. The end of Limaye’s five-year term as the NSE chief comes amid the NSE facing the regulatory probe in a case pertaining to governance lapses at the bourse as …

上海龙凤419

Will bulls take charge or will bears dominate Sensex, Nifty this week? 5 things to know before opening bell

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Domestic headline indices continue to witness a battle between bulls and bears last week with headline indices closing with losses during the week. S&P BSE Sensex settles at 53,760 while the Nifty 50 index closed at 16,049 — both down more than 1% in the last five trading sessions. Entering the fresh week of trade, SGX Nifty was down up with gains, zooming more than 100 points to signal a gap-up start to the day’s trade. Global cues were also positive after Wall Street ended with gains on Friday. Global watch: On Friday, Dow Jones zoomed 2.15%, followed by S&P …

上海龙凤419

Wine producer Sula Vineyards files IPO papers with Sebi

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Leading wine producer Sula Vineyards has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO). The public issue will be entirely an offer for sale (OFS) aggregating to 25,546,186 equity shares by the promoter, investors and other shareholders, according to the draft red herring prospectus (DRHP) filed with Securities and Exchange Board of India (Sebi). Sula Vineyards has been recognized as the market leader across wine variants, including red, white and sparkling wines. The company distributes wines under a bouquet of popular brands such as Sula, its flagship brand, besides other popular …

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Rupee may depreciate further this week amid strong dollar, risk aversion in markets, consistent FII outflows

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By Raj Deepak Singh Rupee depreciated in the last week reaching new record low amid strong dollar and risk aversion in the global markets. Further, rupee skid on persistent FII outflows and on fears that economies may tumble into recession. Furthermore, India’s CPI data showed inflation remained above 7% for a third consecutive month and stayed higher than RBI’s comfort zone. Dollar index rallied amid expectations that US Federal Reserve will hike rates faster than its peers to tackle soaring inflation. Further, dollar advances on risk aversion in the global markets and hawkish statement from a Fed official. Further, world …

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Asian shares mixed after China says growth weakened in 2Q

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Share prices were mixed in Asia on Friday after China reported its economy contracted by 2.6% in the last quarter as virus shutdowns kept businesses closed and people at home. U.S. futures and oil prices edged higher. The Shanghai Composite index lost 0.8% to 3,254.74. Australia’s S&P/ASX 200 dropped 0.8% to 6,596.90 and the Hang Seng in Hong Kong declined 1.9% to 20,347.96. Official data showed the Chinese economy shrank by 2.6% compared with the January-March period’s already weak quarter-on-quarter rate of 1.4%. Compared with a year earlier, which can hide recent fluctuations, growth slid to a weak 0.4% from …

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HUL Q1 results preview: Profit, income to jump on-year but margins to be under pressure despite price hike

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Hindustan Unilever (HUL) will report its quarterly earnings tomorrow, where analysts expect the FMCG major to report an on-year growth in revenue and net profits, however, margins are projected to remain under pressure. The growth in revenue will be backed by a price hike undertaken by the company and growth in volume, which will in turn aid the net profit. However, with raw material prices continuing to remain elevated, margins are likely to take a hit. HUL is an FMCG major selling foods, beverages, cleaning agents, personal care products, water purifiers, and other fast-moving consumer goods. The share price of …

阿拉爱上海

Kasrawad Madhya Pradesh Assembly Constituency Election 2023: Date of Result, Voting, Counting; Candidates

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As anticipation mounts for the upcoming Kasrawad Constituency Election in Madhya Pradesh, voters are eagerly awaiting the big battle that kicks off with the announcement of key dates by the Election Commission of India. Here, we provide you with essential details about the Kasrawad Constituency Assembly Election 2023 that every voter should be aware of. Kasrawad Constituency Madhya Pradesh Assembly Election 2023: Voting Date The voting date for the Kasrawad Assembly Constituency Election 2023 has been officially announced by the Election Commission. As per the ECI, Kasrawad Assembly Constituency will go to polls on November 17. Stay tuned for updates …

上海龙凤419

HDFC Bank Q1 net profit soars 21% on-yr to Rs 9,579 cr, NPAs fall; results meet estimates

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HDFC Bank reported a 20.9% on-year jump in consolidated net profit to Rs 9,579 crore in the April-June quarter, close to what analysts on Dalal Street had estimated. India’s largest private sector bank recorded a 14.5% jump in Net Interest Income (NII) to Rs 19,481 crore. Analysts had expected the lender to post robust quarterly earnings growth. The total credit cost ratio was at 0.91% as compared to 1.67% for the year-ago period. Gross NPAs were at 1.28% of gross advances in the April-June period as compared to 1.47% in the same period last year. HDFC Bank’s results show an …

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Brent falls below $98/bbl; rupee just shy of 80 vs US dollar

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Brent crude fell to $97.5 per barrel on Thursday, its lowest level in four-and-a-half months, brightening the prospects of an improvement in India’s macro-economic parameters and government finances and a lessening of its external-sector vulnerabilities. Softening of oil prices — many analysts expect the near-prospects to be benign as the likely US rate hike later this month could hit demand — could cool inflation, lend significant support to the falling rupee, thanks to lower forex outgo on import of assorted commodities and curb budget spend on explicit subsidies. Meanwhile, the rupee lost another 24 paise on Thursday to hit yet …

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