Market Bizzz

The counter is currently experiencing a downward trend, residing within a supply zone located around Rs 200. The overall structural condition appears to be distorted, primarily because it is trading below its vital moving averages.

As soon as India’s turn came and India assumed the presidency of G20, our Prime Minister took upon himself to leave at least one big legacy that was focussed on Africa and I would say it is a great day for G20, a great day for India, in particular a great endorsement of Prime Minister Modi’s leadership on the global stage to have got this particular consensus through by inclusion of AU as a permanent member of G20.

Wood said there is also growing interest in offering China as a special asset class of its own with the rest of the emerging markets managed separately. Creating an emerging markets (EM) basket excluding China would benefit markets like India and Taiwan as China’s underperformance would weigh down the EM index returns. China has the highest country weightage on the EM indices.

Japanese brokerage Nomura Securities expects cost of funds for NBFCs to increase by 30-40 basis points by December 2023 due to a broad increase in market yields, higher benchmark bank rates and because non-convertible debentures (NCDs) issued by NBFCs will be priced at a more expensive yield.

The order win from Saudi Aramco is reportedly for the second expansion phase of its Jafurah unconventional gas production project, and will be executed by L&T Energy Hydrocarbon. This division accounted for about a fifth of the company’s total order book of over ₹4 lakh crore as of the June quarter.