In more troubling news for the Indian cricket team, ace all-rounder Hardik Pandya is likely to miss more matches due to the injury that he suffered during the World Cup match against Bangladesh. Latest media reports say that Pandya has ligament tear of grade 1 category. The cricketer had suffered sprain in ankle while fielding his own delivery during the October 19 game. While initial reports had said that he had simple sprain, the latest news report that Pandya has ligament tear, which is more serious than a sprain. At present, Pandya is at the National Cricket Academy located in …
March 2024
Rupee likely to remain under pressure, may depreciate to 81 against US dollar; USDINR to trade in this range
The Indian rupee is expected to remain under pressure and may test new levels, falling to 81 against US dollar, in near-term amid US Federal interest rate hikes fears. The aggressive rate hikes will dampen demand and increase the possibility of a recession in the US which could accelerate the pace of capital outflows, weaken the rupee, according to experts. In the previous session, rupee rebounded by 39 paise to close at a nearly two-week high against the US dollar, supported by foreign fund inflows and a correction in crude oil prices. At the interbank forex market, the local unit …
Bears will be back in action after Powell’s hawkish tone at Jackson Hole; 75 bps rate hike likely in next FOMC
By Ritika Chhabra Jerome Powell’s 9-minute speech in Jackson Hole on Friday was short, crisp, clear. The event was a chance for Powell to reset investors’ expectations after the July FOMC meeting on his commitment towards controlling inflation and he made sure that his message goes out strongly with no room for any alternate interpretation. The speech was unequivocally hawkish and Powell made several remarks that spooked the markets with S&P 500 and Nasdaq 100 tanking 3.3% and 4.1% respectively to close the day. Also Read: Rupee slumps to fresh all-time low of 80.15 as US dollar touches two-decade peak …
Shrem InvIT in talks with highway developers, eyes public listing in 2 years
By Swaraj Baggonkar Shrem InvIT, an infrastructure investment trust floated by Shrem Infrastructure, will go for public listing in the next 18-24 months after achieving an asset under management (AUM) of $3 billion, or ₹24,000 crore, a company official said. The Trust, which buys only fully completed projects, acquired 10 highway projects from infrastructure firm Dilip Buildcon in early 2022. Also Read| IPO fever returns to Dalal Street: 3 upcoming public issues to watch Nitan Chhatwal, chairman of Shrem InvIT, said, “We plan to go for public listing in 1-2 years. We are privately listed on NSE as of now. …
Lunar Eclipse 2023: Top sites where you can watch this celestial phenomenon online
The second lunar eclipse of 2023 will be occurring on the night of October 28 which can be watched from the Eastern Hemisphere, including Africa, Europe, Asia and parts of Australia. This lunar eclipse is called a partial lunar eclipse as only a partial part of the moon will be embraced with Earth’s shadow. Lunar eclipse is one of the most beautiful celestial phenomena that the naked eye can experience so even if you can’t catch the look, one can always turn to live streams available online. Lunar eclipse takes place when Earth moves in a way that it comes …
Global Markets: Shares and bonds stabilise on pause in bad news
Shares tiptoed higher and Eurozone bond yields fell on Tuesday as investors took a breather ahead of the next round of likely gloomy inflation data while also juggling concerns about Europe’s energy crisis, a looming recession and more rate hikes. The pan-European STOXX index, MSCI’s broadest index of Asia-Pacific shares outside Japan and S&P futures all rose around 0.7% as markets recovered from a round of selling triggered by hawkish remarks by Federal Reserve Chair Jerome Powell at the Jackson Hole conference last week. Also read: Sensex, Nifty soar 2.5% in broad-based rally; here’s what fuelled today’s Dalal Street rally …
ITC among 200 BSE stocks to hit new 52-week highs; Future Retail, Biocon at fresh 52-week lows
S&P BSE Sensex and NSE Nifty were trading 0.75 per cent higher on Monday, on the back of gains in Reliance Industries, ICICI Bank, Kotak Mahindra Bank, HDFC Bank, and others. BSE Sensex surged nearly 500 points or nearly one per cent to 59,294. NSE Nifty 50 rose to a day’s high of 17,678.30. So far in the trade, ITC share price hit a new 52-week high of Rs 327.70 apiece, crossing the previous high of Rs 324.20 apiece. While no stock hit a fresh 52-week low on S&P BSE Sensex. Also read: We need to stop dividing country; efforts …
Adani Transmission beats LIC, HDFC in m-cap to enter top 10 stocks; shares rally this much YTD
Adani Transmission on Tuesday entered the top 10 list of most valuable companies. Gautam Adani-led power transmission firm became the 8th most valued firm by market capitalisation. Adani Transmission’s market cap stood at Rs 4.4 lakh crore today morning at about 10.30 am, BSE data showed. Adani Transmission m-cap surpassed that of Housing Development Finance Corporation (HDFC) (Rs 4.31 lakh crore), LIC (Life Insurance Corporation of India) (Rs 4.27 lakh crore), Bajaj Finance (Rs 4.33 lakh crore), and Bharti Airtel (Rs 4.12 lakh crore). In the past one week, Adani Transmission share price has rallied over 10%, as compared to …
US stocks: S&P 500 snaps four-session losing streak with payrolls on deck
A late rally helped the S&P 500 snap a four-session losing skid on Thursday with investor focus turning to a key report on the labor market on Friday. Stocks had been solidly lower for most of the session, after data showed weekly jobless claims fell more than expected to a two-month low last week and layoffs dropped in August, giving the Fed a cushion to continue raising rates to slow the labor market. Investors now await the monthly nonfarm payrolls report on Friday for more evidence on the labor market. Economists polled by Reuters see a jobs increase of 300,000, …
Exchanges standardise compliance by listed entities
Stock exchanges have implemented a new XBRL-based compliance filing mechanism featuring identical and homogenous compliance data structures. This will not only ease the compliance burden on listed entities but also enable analytics on the data submitted by the listed entities, a joint statement put out by BSE and the National Stock Exchange of India on Monday said. Under the aegis of Sebi Market Data Advisory committee constituted to recommend policy measures in areas such as securities market data standardisation, access and privacy, it was deliberated that XBRL would be implemented for all corporate filings. Listed entities are required to submit …