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On the sectoral front, pharma index added 1 percent and PSU Bank index was up 0.8 percent.
Gold is traditionally considered a hedge against inflation, but higher rates increase the opportunity cost of holding the non-yielding asset. The dollar index was down slightly, making bullion less expensive for buyers holding other currencies.
Sula Vineyards is well placed to benefit from the consumer shift to low-alcohol beverages — beer and wine. Expected to see highest revenue & EP) compounded growth over FY22-25 vs alcohol companies. Change in wine incentive schemes poses a key regulatory risk for the company.
Among sectors, bank and capital goods are up 1 percent each, while oil and gas and power indices rise 0.5 percent each.
Among sectors, bank and capital goods are up 1 percent each, while oil and gas and power indices rise 0.5 percent each.
In Switzerland, the bonds’ terms state that in a restructuring, the financial watchdog is under no obligation to adhere to the traditional capital structure hierarchy, which is how Credit Suisse AT1 bondholders lost out.
Investment grade credit spreads, which indicate the premium investors demand to hold highly rated corporate bonds over safer U.S. Treasuries – rose to 164 basis points last week, the highest since October, according to the ICE BofA US Corporate Index
Crude oil has been on a declining trajectory since last June when it reached $124 per barrel. For the last four months, prices have stayed below $90. But a rising concern about the health of the global economy in the wake of the collapse of a few banks in the US and Europe in recent weeks has triggered a sharp fall in oil prices.
Bajaj Finserv, Adani Enterprises, Bajaj Finance, Hindalco Industries and Wipro were among the top Nifty losers. The gainers included HUL, BPCL, ITC, Grasim Industries and Nestle India.