Sensex, Nifty nosedive as MSCI threat looms over HDFC shares
India’s stock market nosedived on Friday as the country’s largest private sector bank HDFC Bank witnessed heavy selling pressure on the back of global index provider MSCI’s announcement regarding the bank. Sensex declined 694 points or 1.13 per cent to close at 61,054. The Nifty index fell 186 points or 1.02 per cent at 18,069. […]
Stable macro data, earnings trigger FPI buying in Indian shares in April: NSDL
Foreign portfolio investors (FPIs) were net buyers of Indian equities in April, the first month of the new financial year, National Securities Depository Ltd (NSDL) data showed on Friday. FPIs purchased shares worth ₹11,631 crore ($1.42 billion) on a net basis in April, the highest since November 2022. They had been net purchasers in the […]
NSE delays publishing its financial results
In a rare instance, the National Stock Exchange (NSE) has delayed publishing its financial results for quarter and year ending March 2023. The board members of the company have sought time till May 15 for the final publication of the results. While the NSE is yet to give any precise reason for the delay in […]
Ministry of Petroleum denies CREA report on India buying Russian crude
The Ministry of Petroleum and Natural Gas, on Wednesday, has denied a report by the Centre for Research on Energy and Clean Air (CREA) on India purchasing cheap Russian crude oil, saying it is misleading and a deceptive effort to tarnish India’s image, the 4th largest oil refining country globally. “It shows a lack of […]
Stock market today: Asian markets track Wall Street decline
Asian shares declined on Wednesday, tracking losses on Wall Street ahead of a decision on interest rates by the Federal Reserve. US futures edged higher while oil prices were little changed. The Federal Reserve will wrap up a two-day policy meeting later in the day. It is widely expected to raise its key rate by […]
Minda Corp to approach CCI seeking stake increase in Pricol to 24.5%
Auto component maker Minda Corporation on Tuesday announced that it will file an application before the Competitive Commission of India (CCI) to increase its stake in rival firm Pricol Ltd to 24.5 per cent. On February 17, Minda Corp had acquired 1.91 crore shares or 15.7 per cent of equity in Coimbatore-based auto component manufacturer […]
Today’s Pick: ICICI Bank (₹917.70): BUY
The short-term outlook is bullish for the stock of ICICI Bank. The stock has been on the uptrend since mid-March with support in the ₹900-895 region. Dips to this support zone are likely to see fresh buyers coming into the market. As such, the downside can be limited. A fall below ₹895 is less probable […]
Three stocks that outperformed market in the week ended April 28, 2023
With markets closed on Monday on account of Maharashtra Day, Indian markets will be open on Tuesday after a gap of three-days. Here is recap of major trends of the Indian stock markets last week. Both benchmark indices Sensex and Nifty 50 were up nearly 2.5 per cent each last week. Except for BSE Consumer […]
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Trying to get BSE on people’s priority list: MD & CEO Sundaraman
Taking chances has often favoured the bold and Sundararaman Ramamurthy is BSE’s feisty new MD and CEO who has started his stint with a disruptive move. In just three months of taking charge in January, Sundararaman suspended the exchange’s liquidity enhancement scheme (LES), wherein brokers were paid generate volumes in the otherwise moribund derivatives segment. Before Sundararaman took […]