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AlphaGrep gets Sebi approval to launch mutual fund business
AlphaGrep has received approval from Sebi to launch its mutual fund business, aiming to provide retail investors with access to sophisticated investment tools.
INR tumbles near three-week low amid surging international oil prices, firm dollar overseas
The Indian rupee plunged 31 paise to settle at 90.99 (provisional) against the US dollar on Friday, tracking a strong American currency against major currencies and higher crude oil prices amid intensifying US-Iran tensions. Positive momentum in domestic equity markets failed to support the Indian unit. Indian shares bounced back on Friday after falling sharply in the previous session on rising geopolitical tensions and uncertainty over the Federal Reserve's rate path. The benchmark BSE Sensex jumped 316.57 points, or 0.38 percent, to 82,814.71. The broader NSE Nifty index surged 116.90 points, or 0.46 percent, to 25,571.25, with metal and banking stocks leading the surge.
Stocks to Watch Today: HDFC Bank, Yes Bank, Dabur, Senco Gold, Nykaa, Shakti Pumps, GK Energy, Rubicon Research, Manappuram, Enviro Infra in focus on 06 July
Stocks to Watch, 6 Jul: Stocks like HDFC Bank, Kotak Mahindra Bank, IndusInd Bank, Yes Bank, CreditAccess Grameen, RBL Bank, IDBI Bank, FSN E-Commerce Ventures Nykaa, Senco Gold, Dabur India, Godrej Consumer Products, GK Energy,Shakti Pumps (India), Innovision, PTC India, and Bliss GVS Pharma will be in focus on July 6.
Kotak Mahindra Bank stock rises as brokerages bullish after Deutsche Bank India retail business acquisition
Brokerages remained constructive on Kotak Mahindra Bank after its proposed acquisition of Deutsche Bank India's retail, private banking and wealth management business. Analysts said the deal strengthens Kotak's retail franchise, appears reasonably priced and could be earnings or return-on-equity accretive.
Live: Brent Hits $95 After US-Iran Escalation | Gold Slides | Nifty Set for Cautious Open| Opening Bell
Wall Street heads into the opening bell under pressure after a sharp selloff on Wednesday, with all three major U.S. indexes falling more than 1%. Technology and semiconductor stocks remained weak, while escalating tensions in the Middle East added another layer of uncertainty for investors. The Dow Jones Industrial Average tumbled 953 points (-1.87%) to 49,918.78, the S&P 500 dropped 119.66 points (-1.62%) to 7,266.99, and the Nasdaq Composite slid 509.32 points (-1.98%) to 25,169.50. Investor sentiment remains cautious as markets assess the implications of fresh U.S. strikes on Iran and Iran's announcement of the closure of the Strait of Hormuz. The developments have pushed oil prices sharply higher, raising concerns that elevated energy costs could fuel inflation and keep interest rates higher for longer. The U.S. dollar traded cautiously as investors balanced geopolitical risks against the Federal Reserve's rate outlook. Meanwhile, gold extended its decline, hitting a more than six-month low as rising oil prices and inflation fears dampened expectations for near-term monetary easing. Markets are expected to remain highly sensitive to geopolitical headlines, energy price movements, and interest-rate expectations as trading gets underway.