Page 8 - Market News

Rupee slips 6 paise to 81.77 against US dollar in track with equities

The rupee depreciated 6 paise to 81.77 against the US dollar in early trade on Monday, tracking a lacklustre trend in domestic equity markets and a firm American currency overseas. However, lower crude prices in the international market and fresh foreign fund inflows restricted the rupee's fall, forex dealers said. At the interbank foreign exchange, the domestic unit opened weak at 81.81 against the dollar, then gained some ground to quote 81.77, registering a decline of 6 paise over its previous close. In the previous session on Friday, the rupee weakened by just one paisa to end at 81.71 against the dollar. The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.41 per cent to 106.39. Brent crude futures, the global oil benchmark, declined 2.58 per cent to USD 81.47 per barrel. In the domestic equity market, the 30-share BSE Sensex was trading 27.97 points or 0.04 per cent lower at 62,265.67. Similarly, the broader NSE Nifty fell 12.45

Mcap of 9 of top 10 firms climbs Rs 79,798 cr; TCS, Infosys biggest winners

Nine of the top 10 valued firms together added Rs 79,798.3 crore in market valuation last week, with IT majors Tata Consultancy Services (TCS) and Infosys emerging as the biggest winners. In the last week, the 30-share BSE Sensex climbed 630.16 points or 1 per cent. The barometer settled at 62,293.64, its fresh record closing high on Friday. Barring Adani Enterprises, all the 10 most valued firms including Reliance Industries, HDFC Bank, ICICI Bank and Hindustan Unilever Limited witnessed gains in their valuation. The market valuation of TCS jumped Rs 17,215.83 crore to Rs 12,39,997.62 crore. Infosys added Rs 15,946.6 crore taking its valuation to Rs 6,86,211.59 crore. The market valuation of Reliance Industries rallied Rs 13,192.48 crore to Rs 17,70,532.20 crore and that of Hindustan Unilever climbed Rs 12,535.07 crore to Rs 5,95,997.32 crore. ICICI Bank's market capitalisation (mcap) zoomed Rs 6,463.34 crore to Rs 6,48,362.25 crore and that of Bharti Airtel gained Rs 5,451.97 cr

Macro data, global trends to guide equity markets this week: Analysts

Trading activity in the equity market this week will depend on macroeconomic data announcements, monthly auto sales numbers and global trends, analysts said. Bulls dominated Dalal Street last week, supported by favourable triggers like buying by Foreign Institutional Investors (FII) and a drop in crude prices. Last week, the 30-share BSE benchmark Sensex rallied 630.16 points or 1 per cent. On Friday, the Sensex settled at 62,293.64 -- its record closing high. The NSE Nifty too ended at its lifetime peak of 18,512.75. "This week, our Q2 GDP numbers and monthly auto sales numbers will be key domestic factors. On the global front, the market will keep an eye on data from the US and any further movement of the dollar index and US bond yields. Apart from this, news flow from China will continue to cause some volatility," said Santosh Meena, Head of Research, Swastika Investmart Ltd. Ajit Mishra, VP - Technical Research, Religare Broking Ltd, said this week participants will be focusing

Gold trading at Rs 52,970 per 10 grams, silver selling at Rs 61,800 per kg

The price of ten grams of 22 carat gold in Delhi, Bengaluru, and Chennai is Rs 48,700, Rs 48,600, and Rs 49,250, respectively

From banks to IT, analysts bet on these sectors as markets hit record highs

Metals, state-owned oil marketing companies, and export/global economy-linked sectors may not see any meaningful rally

Sebi releases uniform format for OTC trades in non-convertible securities

Capital markets regulator Sebi on Friday came out with a uniform format for reporting over-the-counter (OTC) trades in listed non-convertible securities. The development comes after Sebi observed that information on OTC trades in listed non-convertible securities provided to the stock exchanges by the investors is incomplete and inaccurate. This, in turn, amounts to incorrect and distorted information being displayed on the exchanges' websites. "In order to address the issue, it has been decided all OTC trades shall be reported in a uniform format," the Securities and Exchange Board of India (Sebi) said in a circular. OTC trades are generally trades executed between two market entities without others being aware of the price at which the transaction was effected. Under the format, information pertaining to deal type -- whether brokered or direct -- ISIN, listed or unlisted security, issuer name, coupon rate, issue description, traded price, traded yield, trade date and time, ...

Stocks to Watch: PNB, Tube Investments, Indian Oil, Laurus Labs, SBI, Lupin

Stocks to Watch: Punjab National Bank (PNB) on Thursday said it received the government's approval to divest its entire stake (15.22 per cent) in UTI Asset Management Company

Paytm's 75% share slump is world's worst for large IPOs in a decade

Paytm's stock price dive is the steepest first-year slide globally among IPOs that raised at least the same amount since Spain's Bankia SA's 82% drop in 2012

Stocks to Watch:TCS, Keystone Realtors, Tata Power, Biocon, HG Infra, Adani

Stocks to Watch: Keystone Realtors will debut on the BSE and NSE today. The issue price has been fixed at Rs 541 per share

Technical glitch on NDS-OM holds up trade in govt bonds for over one hour

According to bond traders, the RBI's NDS-OM platform suffered technical issues between 9:05 am and 10:08 am IST, which led to trade almost coming to a halt during that period

Adani FPO could be India's largest-ever; board to approve proposal on Fri

The follow-on offering will help the firm broaden its investor base

Passive fund race: Bigger players steal the show over smaller counterparts

Over 95% passive AUM is with top 10 AMCs; experts say opportunities still exist in the smart beta space

20-minute glitch on Zerodha app; users unable to view, modify orders

Company says limited group of customers impacted; Trade execution unaffected all the while

Oil prices sink as China's tightening anti-Covid curbs hurt demand outlook

Crude has erased the gains made at the start of the quarter, when the Organization of Petroleum Exporting Countries and allies including Russia agreed to reduce production by 2 million barrels a day

Gold trading at Rs 53,020 per 10 grams, silver selling at Rs 60,600 per kg

The price of ten grams of 22 carat gold in Delhi, Bengaluru, and Chennai was Rs 48,800, Rs 48,650, and Rs 49,250, respectively

FTX fallout: Crypto markets on the back foot as investors pull funds

Investors continue to pull funds from digital-asset exchanges despite the latter's efforts to reassure markets about their stability.

With crypto in retreat, central banks take a quantum leap to cryptography

What will thrive even after this year's meltdown, however, is cryptographic money.

Gold trading at Rs 53,020 per 10 grams, silver selling at Rs 60,090 per kg

The price of ten grams of 22 carat gold in Delhi, Bengaluru, and Chennai is Rs 48,800, Rs 48,650, and Rs 49,500, respectively.

HDFC to benefit from NSE tweak in index composition rule on mergers

Under new framework, in the event of a merger, target company will be deleted from index a day prior to ex-date, weight of acquirer (if part of the same index) will be increased the same day

Gold trading at Rs 53,190 per 10 grams, silver selling at Rs 61,200 per kg

The price of ten grams of 22 carat gold in Delhi, Bengaluru, and Chennai is Rs 48,910, Rs 48,810, and Rs 49,510, respectively.