Indian stock markets are likely to open higher on Friday following the continuous upmove in the Wall Street’s major indices.
Global index provider MSCI Inc on Thursday “strongly suggested” that India’s three main stock exchanges reconsider their anti-competitive measures that restrict the accessibility of the Indian equity market to foreign exchanges.
In the past 9 days, petrol and diesel prices have been cut almost every day on the back of benchmark Brent crude oil price which fell dramatically in last one month after touching a high of $71 per barrel.
Rating agency Crisil has launched 11 new debt indices and also announced a change in nomenclature of an existing
index in line with the new norms issued by the Securities and Exchange Board of India (SEBI) for classification
of mutual funds (MFs).
A fine of Rs 50 lakh was imposed on S Kumar Nationwide’s nine promoter entities by Sebi on Thursday. The penalty was imposed by the capital market regulator on the textile firm for disclosure lapses.
PNB shares crumbled 14% to hit a 52-week low after bank’s management detailed about the ongoing fraud in the state-run lender which is estimated to be Rs 11,400 crore. PNB had lost about Rs 8,000 crore in market capitalisation in last two days.
The popular cryptocurrency Bitcoin was trading at $9,610.39 in India today on CoinDesks’s Bitcoin Price Index (BPI) at the time of reporting. Bitcoin climbed nearly 10 percent, the highest level reached since February 4.
For new mutual fund accounts opened from February 15, investors were required to submit PAN and Aadhaar at the time of opening of such folios.
Singapore’s exchange may have a shot at keeping its lucrative India index futures, as long as it can meet the desire of Prime Minister Narendra Modi’s government to keep investor activity within the country’s borders.
Indian stock markets extended the early gains in the afternoon trades with Sensex reclaiming 34,500-mark and Nifty rallying as much as 118 points while a heavy drag on shares of PNB kept Nifty Next 50 flat.
It’s the best time to buy good stocks, and the stocks one always wanted to buy but couldn’t. Saying this, one should properly study the performance of a company before buying its stocks, fund manager Viraj Mehta said.
Shares of Gitanjali Gems nosedived nearly 20% on Thursday as CBI and ED took charge of PNB’s Rs 11,400 crore scam alleging Nirav Modi and several other jewellers.
Shares of Gitanjali Gems today plunged up to 19 per cent in morning trade after the company came under scanner of various investigating agencies following the Punjab National Bank’s declaration of nearly Rs 11,400-crore fraud.
Shares of Punjab National Bank extended the losses Thursday and plunged over 8% amid the heavy trading volumes with the bank losing over Rs 6,000 crore in the market capitalisation in the two-day decline.
“Fraudulent and unauthorised” transactions of Rs 11,363 crore were reported from a single branch of Punjab National Bank in Mumbai on Wednesday. The gigantic amount that nearly equals a third of bank’s market value of Rs 33,000 crore comes as a shock for the entire banking sector that is already facing immense pressure at the NPA front.
Indian stock markets opened higher on Thursday with Sensex rallying as much as 150 points and Nifty crossing 10,550-mark while the shares of Punjab National Bank extended yesterday’s losses and tanked over 8% today. Shares of HDFC, Infosys, ICICI Bank surged.
Warren Buffett’s Berkshire Hathaway Inc on Wednesday disclosed a new stake in generic drugmaker Teva Pharmaceutical Industries Ltd and said it bought more shares of Apple Inc, which surpassed Wells Fargo & Co as its largest common stock investment.
Asian stocks gained on Thursday after Wall Street brushed aside strong US inflation data and surged, a counterintuitive move that also saw the dollar pinned at two-week lows even as Treasury yields jumped in anticipation of a quicker pace of US interest rate hikes.
Indian stock markets are likely to open higher on Thursday following the upsurge on Wall Street as the key equity index Dow Industrials inched up 1% yesterday.
Asian stocks gained on Thursday after Wall Street brushed aside strong U.S. inflation data and surged, a counterintuitive move that also saw the dollar pinned at two-week lows even as Treasury yields jumped in anticipation of a quicker pace of U.S. interest rate hikes.
Sell-off after RBI move to revamp NPA rules; analysts see a hit in the fourth quarter.
US stocks traded higher on Wednesday after erasing earlier losses, as investors were digesting the latest inflation data.
The government is mulling over a plan to double the import duty on wheat from the present 20 percent in order to rule out any chances of cheaper imports flooding the markets later as crop harvesting has just begun in the country.
Since its crude oil is $2 per barrel cheaper than the imported Dubai crude, inclusion of US for imports is a very good move for India, CARE Ratings report said. In addition, it will also help to counter the price hike arising out of geopolitical disruptions.
Bitcoin was trading at $8,844 in India today on CoinDesks’s Bitcoin Price Index (BPI) at the time of reporting. The highest price of Bitcoin for today was recorded at $8,897.81. On Tuesday, Bitcoin’s highest price was $8, 915.26.
Indian stock markets closed lower on Wednesday with Sensex losing as much as 144 points and Nifty managing to finish at 10,500. Among the sectors, PSU banks shares were the worst hit in Wednesday’s trade with Nifty PSU Bank plunging as much as 4.78% while PNB ended down 10%.
India’s largest telecom operator Bharti Airtel is considering an international listing of its Africa operations, it said on Wednesday. Bharti Airtel International Netherlands will begin non-binding discussions with banks and intermediaries.