PNB Housing Finance, an arm of state-owned Punjab National Bank, has received capital markets regulator Sebi’s go ahead to raise up to Rs 2,500 crore through rights issue of shares. The housing finance firm, which had filed draft papers with Sebi in December 2022 regarding the rights issue, obtained its ‘observations’ on March 6, which […]
Banking stocks surged on Thursday after the Reserve Bank of India surprised markets by pausing a rate hike earlier than expected. RBI MPC decided not to hike the repo rate, keeping the key lending rate at 6.5%. Analysts had predicted a 25 bps hike as inflation hovers above the central bank’s target range of 2-6%. […]
By Rohan Patil The bulls are back in action after a week of consolidation and prices closed above their previous week’s high with a gain of three percent on the weekly closing basis. After eight days of consolidation, the benchmark index Nifty50 breaks the conjunction zone on the higher side and witnessed a bullish breakout. […]
By Bhavik Patel Gold has touched $2000 on fear of further banking turmoil and the Fed’s message about a potential pause in tightening. Gold is attracting new buyers as many traders remain nervous post-Fed and over how quickly will U.S. authorities be able to contain further banking turmoil. The ETF buyer is also supporting gold, […]
Majority of the pilot projects on generative artificial intelligence (GenAI) currently being run by IT vendors may not make it to production next year due to the uncertain macro environment, according to analysts.Infosys, which has already trained 57,000 employees in GenAI and is currently working on over 90 GenAI programmes, recently said it lost an […]
By Bhavik Patel Gold market is expected to witness short term turbulence as the long side is getting overcrowded. Usually when everyone is bullish, there are high chances of correction. Right now investors are too optimistic, thinking the US Fed will start lowering interest rates by the end of the year. Dovish comments from the […]
US authorities were swift to launch emergency measures on Sunday to shore up confidence in the banking system after the failure of Silicon Valley Bank (SVB) threatened to trigger a broader financial crisis. After a dramatic weekend, regulators said SVB customers will have access to all their deposits starting Monday and set up a new […]
Benchmark indices BSE Sensex and NSE Nifty traded flat on Wednesday, stuck in range-bound movement. Nifty traded at 17,778.8, up 0.05% while Sensex gained 35 points to 60,166. The broader markets traded largely in the flat to positive territory, with Nifty Smallcap 50 higher by 0.43% and Nifty Midcap 50 higher by 0.07%. The sectoral […]
By Shivangi Sarda The Nifty 50 index opened positive on Wednesday and a sharp recovery was seen towards 16400 zones led by a short-covering move. It turned from its oversold territory and closed with gains of around 330 points. Nifty formed a Bullish candle on the daily scale and negated its lower lows formation of […]
Adani Group stocks fell on Wednesday in an otherwise positive market despite GQG Partners CIO Rajiv Jain making a grand prediction of doubling his nearly $2 billion bet on the embattled Gautam Adani-led conglomerate. “These could be multi-baggers” over five years,” Rajiv Jain said in a TV interview. Adani Enterprises shares fell 1.62%, Adani Green […]
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