Markets ended lower on the weekly expiry day, mirroring weak global and domestic cues, with analysts suggesting a consolidation view for the Nifty. Continued currency deterioration could widen the trading range, potentially dragging the index below 25,700. A stock-specific approach with hedged positions is recommended due to prevailing volatility.Read More
Indian equities declined as caution prevailed due to persistent FII selling and a weakening rupee hitting new lows. Analysts anticipate sideways trading in the near term, lacking significant triggers. The rupee fell to an all-time low of 91.01 against the dollar, attributed to a widening trade deficit.Read More
The Reserve Bank of India’s $5 billion dollar-rupee buy-sell swap program saw overwhelming demand, with bids reaching $10.35 billion. The central bank accepted $5.07 billion to inject durable liquidity into the inter-bank market, aiming to improve policy rate cut transmission. This initiative complements other liquidity measures, including substantial infusions through variable rate repo auctions.Read More
Ace investor Vijay Kedia acquired a significant stake in Mahamaya Lifesciences through a block deal. He purchased nearly 9 lakh shares at Rs 140 each. This transaction highlights investor interest in the agrochemical firm. Mahamaya Lifesciences manufactures pesticide formulations and crop protection products. The company has shown strong financial growth recently. Its shares have performed well since their market debut.Read More
The government will divest up to 3% stake in Indian Overseas Bank via an offer for sale starting December 17, with a floor price of Rs 34, at a discount to market price.Read More
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