Analysts said Nifty50 may be in for some consolidation and any fall below the 17,500 may confirm weakness.
While the central bank has made it very clear that it will telegraph its moves very clearly to markets, the takeaway is that normalization is undoubtedly being discussed on Mint Street and that as far as interest rates are concerned, there is only one direction in which they are likely to move – northward.
In the international market, gold was trading in the green at $1,762 per ounce and silver was flat at $22.95 per ounce.
Private banks saw buying, but PSU banks were hammered. So were realty and metal stocks. Travel and tourism stocks were in demand. Volatility indicator showed traders are fearful now.
“While the FMCG business is shaping up well, they have an added advantage in terms of sourcing. But still the margins are in single digit. â€
Ease My Trip had surged as much as 10 per cent earlier in the day to hit a record high market capitalization of Rs 7,700 crore before giving back some of those gains.
The bonds are supposed to be listed on the Singapore Stock Exchange and marked as high-yield securities, below the investment grade.
On the National Commodity and Derivatives Exchange, guar seed contracts for September delivery was trading at Rs 6,000 down by Rs 197, or 3.18 per cent per 10 quintal with an open interest of 4,305 lots.
“Digital economy in India scaling up & here to stay. POWRZs is an acronym for stocks that represent the emerging areas in the new economy and the world and also represents some of the companies which are potentially getting listed in the next 12 to 18 months. â€
The mutual fund, previously known as Essel Mutual Fund, has filed papers with the Securities and Exchange Board of India to launch a Navi Electric Vehicles and Driving Technology FoF.
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