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Sensex Drops 352 Points Amid Profit Booking and Global Weakness
The 30-share BSE index closed at 72,790.13 points, marking a decrease of 352.67 points or 0.48 percent from the previous session's close. Among its constituents, 26 stocks experienced declines while only four managed to advance.
Byju's Successfully Subscribes $200 Million Rights Issue
According to a shareholders' letter obtained by IANS, Byju's founder and CEO Byju Raveendran expressed that the $200 million raised through this rights issue would provide the necessary capital to address existing liabilities and fuel the company's growth trajectory, aiming to restore its previous success.
Financial stocks likely to face more selling pressure due to large FPI exposure
The market had not positioned itself for the US 10-year bond yield at 4.95 per cent and, therefore, this unexpected spike in yields will take its toll on equity markets, he said.
Festive Cheer: We're 2-4 weeks away from markets touching all-time high
This was seen during the Ukraine-Russia war and more recently last week during the Hamas-Israel conflict. Markets were hit just on Monday and then rebounded. This strong market performance can only be attributed to the strength that the underlying markets have and not to any other reason.
Asked about movement in share prices, Premier Polyfilm asks exchanges to look into the reasons
“Now, we request you to look into the reasons for sudden rise in prices and volume of share of the company at your own level and take action accordingly. This will also be in the interest of investors and promoters. In the event, if you come across any reasons which can jeopardise the interest of the investors or the company, kindly caution us," the company said.
Monetary policy announcement seen as neutral from market perspective
Not only the policy rates but the growth and inflation targets for FY24 remain unchanged. More than this status-quo statement from the MPC, tonight’s job numbers from the US will determine the market trend in the near-term, he said.
Sensex up more than 500 points as crude prices correct
The decline in the dollar and US bond yields are mild and therefore, not adequate for a reversal of FII selling, which continues to be very high. But the sharp correction in Brent crude to $86 is a big positive, he said.
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