High oil prices can remain a problem if large liquidity remains in the market even after the interest rate hikes by central banks, Minister of Petroleum and Natural Gas Hardeep Singh Puri said on Wednesday. “If you already have a large amount of liquidity, and all those interest rate hikes that you have utilised and […]
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MCX crude near its resistance zone; OPEC lifts its crude oil demand forecast for 2023 to 2.4 million bpdMCX crude near its resistance zone; OPEC lifts its crude oil demand forecast for 2023 to 2.4 million bpd
By Bhavik Patel Oil bulls are back with a bang as the market sentiment has shifted to positive note with inflation in the U.S. slowing dramatically and markets tightening on the back of supply disruptions and production cuts. Until now, the market was only looking at the consumption side but now concerns are emerging regarding […]
FPIs turn net sellers after 6 months of investment; withdraw Rs 14,767 cr in SeptemberFPIs turn net sellers after 6 months of investment; withdraw Rs 14,767 cr in September
After sustained buying in the last six months, FPIs have turned net sellers and pulled out of over Rs 14,767 crore from Indian equities in September, primarily due to dollar appreciation, steady rise in the US bond yields, and a spike in crude oil prices. Going forward, the outlook for FPI flows in India is […]
Rakesh Jhunjhunwala-backed Concord Biotech IPO Listing: Shares have positive debut, list at 21.5% premiumRakesh Jhunjhunwala-backed Concord Biotech IPO Listing: Shares have positive debut, list at 21.5% premium
Concord Biotech IPO: Concord Biotech shares listed at an 21.5% premium over IPO price on NSE and BSE amid positive domestic market. The share debuted at Rs 819.9 apiece on the BSE, as compared to the issue price of Rs 741. Ahead of the public issue listing, Concord Biotech shares’ GMP rose to Rs 122 […]
Oil prices rise on concerns over tightening supplyOil prices rise on concerns over tightening supply
Oil prices rose in early trade on Wednesday, hovering near 10-month highs hit the previous day, as a bigger-than-expected draw in U.S. oil stockpiles and weak U.S. shale output reinforced fears of tight crude supply for the rest of 2023. Global benchmark Brent crude futures climbed 6 cents, or 0.1%, to $94.40 a barrel by […]
Nasik onion mandis shut for second dayNasik onion mandis shut for second day
Mandis in Nasik district of Maharashtra, the hub of the country’s wholesale onion trade, remained closed for the second day in a row on Thursday as traders remained on an “indefinite strike” demanding removal of export duty, reduction in mandi fees and stopping of agencies such as Nafed and National Cooperative Consumers’ Federation of India […]
Aeroflex Industries IPO to open on August 22Aeroflex Industries IPO to open on August 22
The initial share-sale of stainless steel flexible hose manufacturer Aeroflex Industries Ltd will open for public subscription on August 22. The initial public offering will conclude on August 24 and the bidding for anchor investors will open on August 21, according to the red herring prospectus (RHP). At present, promoter and promoter group members own […]
Nifty fails to sustain momentum, however no prospects of collapse; banking stocks to outperformNifty fails to sustain momentum, however no prospects of collapse; banking stocks to outperform
By Anand James Nifty PSU Bank Index saw good traction with all of the index constituents gaining close to 5% on an average. Major gains were seen in SBI, Bank of Baroda, Canara Bank, Punjab National Bank and Union Bank which contributed around 80% to Nifty PSU Bank index. 77% of the banking stocks in […]
Truckers strike continues, raises fuel supply concerns; all eyes on Govt announcementTruckers strike continues, raises fuel supply concerns; all eyes on Govt announcement
The second day of strike by truckers across the country has seen a mix of impact to the day-to-day lives of people starting with the long queues at fuel stations. While, there has been no formal call for a strike by any association, industry sources claim that many truck drivers have taken it upon themselves […]
Manoj Vaibhav IPO subscribed 58 per cent on day two of offerManoj Vaibhav IPO subscribed 58 per cent on day two of offer
The initial public offer of Manoj Vaibhav Gems N Jewellers was subscribed 58 per cent on day two of bidding on Monday.The initial share sale received bids for 53,05,203 shares against 91,20,664 shares on offer, as per NSE data. The retail individual investors (RIIs) part received 73 per cent subscriptions while the category for non-institutional […]