India’s stock benchmarks declined, dragged by broad based losses across sectors led by information technology stocks. The sharp fall comes after U.S. Federal Reserve officials emphasised the need to continue with monetary tightening in the central bank’s efforts to rein in inflation. The comments have spurred a decline in global equities.
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Adani Enterprises Says RRPR Holding Is Bound To Immediately Allot NDTV Shares
Adani Enterprises says prior written approval from SEBI is not required for allotment of NDTV shares to VCPL on exercise of warrants.
IndusInd Bank Gains As Jefferies Reiterates ‘Buy’, Raises Target Citing Growth In Retail Deposit
Shares of IndusInd Bank gained 1.7% during the session. The stock is among the top gainers in Nifty Bank index.
Nifty Weekly Forecast: Inflection Point Coming Up
Nifty Weekly Forecast: Even though no one wanted it, everyone was waiting for it! The dip, I mean. Friday’s trading confirmed the fears that most were harbouring, that the market was ‘due’ for a decline. As though it was some train that had got delayed or something. So, when it showed, everyone was, like, ‘I told you so’. Now, will come the next set of comments, predictions, new questions etc. But before all that, let’s just take a look at what has transpired so far during the week. The first chart details the intra-week move.
IRCTC Gains As It Readies Plan To Monetise Digital Assets
Shares of Indian Railway Catering & Tourism Corp (IRCTC). jumped nearly 4% and are on course to extend winning streak for the fourth day.
Natco Pharma Gains As U.S FDA Grants Tentative Nod For Ovarian Cancer Drug
Shares of Natco Pharma jumped nearly 3%, the most in this week so far. Trading volume is thrice the 30-day average. A dividend of Rs 3.5 is payable on August 30 and the stock will trade ex-dividend on Friday.
Power Mech Projects Surges To Record After Bagging Over Rs 6,100 Crore From Adani Group
Shares of Power Mech Projects rose nearly 8%, the most in a week, to a record. Trading volume is 25 times the 30-day average. The relative strength index is 84, suggesting the stock may be overbought.