Expect sideways movement with focus on Smallcap and midcap space
IANS -
BSESENSEX lost 58.15 points or 0.10 per cent to close at 61,054.29 points while NIFTY gained 4.00 points or 0.02 per cent to close at 18,069.00 points. The broader market saw BSE100, BSE200 and BSE500 gain 0.19 per cent, 0.30 per cent and 0.40 per cent respectively. BSEMIDCAP gained 1.41 per cent while.
US bank First Republic's shares crash more than 46%
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As the growing banking crisis spread into a new week, the credit rating of the regional bank was downgraded deeper into junk status by S&P Global, the Guardian reported. The agency said that the bank, which caters to wealthy clients, probably faced "high liquidity stress with substantial outflows". US officials are studying how to temporarily expand the protection offered to banking customers by Federal Deposit Insurance Corp (FDIC) to include all deposits, going beyond the current $250,000 cap, Bloomberg reported.
Cement companies mull price hike of Rs 10-30/bag
IANS -
Emkay Global in a recent sectoral report said the average pan-India cement price increase was about Rs.3-4/bag in October 2022. On a month-on-month (MoM) basis, prices rose by 2-3 per cent in the East and South, and about one per cent in the West; while declining 1-2 per cent in the northern and central regions, the report said.
NIIT acquires US-based St. Charles Consulting Group for $23.4 mn
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Headquartered in St. Charles, Illinois, St. Charles Consulting Group is a leading provider of consulting, design, and implementation solutions for strategic learning programmes to professional services firms and Fortune 500 companies.
India's exports rose to $61 billion in September
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These were 10.2 per cent higher than the corresponding period of last year. Imports in September 2022 were estimated to be $76.26 billion, exhibiting a positive growth of 10.73 per cent over September 2021. Trade deficit, however, widened to $148.46 billion in September 2022 against $76.25 billion in September 2021, the data revealed.
Global investors view Shehbaz's appeal as sign of imminent default on foreign debt
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The global bond investors interpreted the prime minister's appeal as an indicator that the country was going to default on foreign debt repayments. Islamabad is scheduled to repay $1 billion against a maturing Sukuk on December 5, 2022, The , Express Tribune reported. The prices of any country's bonds plunge and their yields - the rate of return - soar while they are facing a financial crisis and vice versa.
India is in no rush to resume India-Pakistan trade ties
IANS -
The issues of both trade and humanitarian assistance have been in focus since Pakistan's Finance Minister Miftah Ismail said earlier this week that Islamabad can consider importing vegetables and food items from India to cope with shortages due to the floods, which have killed more than 1,000 people and affected 33 million.
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