Market Bizzz

The total income increased to Rs 2,894 crore during the quarter under review against Rs 2,652 crore in the same period last year, Punjab & Sind Bank said in a regulatory filing.

ET was the first to report in the April 18 edition that Binance, the world’s largest cryptocurrency exchange that was banned by the government in January, is poised to return to India by paying a penalty of about $2 million.

Devang Mehta discusses the positive macroeconomic outlook for India, the impact of global trends on the market, and the growth potential in sectors like energy, renewable energy, and EVs, emphasizing the importance of fundamental analysis in IPO decisions. Mehta also says the next 30 days can see a bit of increased volatility as politics take the centrestage and all eyes will be on the election trends and actual results.

When the closing price falls below the VWAP, it signifies that the closing price is lower than the average price at which it was traded throughout the day, with the average being weighted by trading volume.

According to analysts, the market is under pressure due to uncertainty over the election outcome and selloff by foreign investors. The India VIX (volatility index) closed higher for the 11th consecutive session on Thursday. The so-called fear gauge has jumped nearly 80% from a low in April. This period of heightened volatility – marked by ups and downs in share prices – presents buying opportunities for long-term investors, market players said.

Online brokerage Robinhood Markets beat estimates for first-quarter profit on Wednesday, thanks to robust crypto trading volumes and rate hikes that boosted its net interest revenue.

Gold prices were flat on Thursday, as investors turned their focus to U.S. economic data that could offer additional insights into the timing of the Federal Reserve’s potential interest rate cuts.

The dollar held tight ranges against most peers on Thursday as traders awaited key U.S. inflation data for cues on Federal Reserve policy, while the focus on the massive interest rate gap between Japan and the U.S. helped it make some gains on the yen.

MSCI’s broadest index of Asia-Pacific shares outside Japan slid 0.19%, weighed down partly by declines from mainland Chinese blue chips. However, Hong Kong’s Hang Seng rose 0.52%.

Stocks that were in focus include names like Dabur, which rose 5.11%, Inox Wind, which was down 6.06%, and Zomato, whose shares declined 1.89% on Tuesday.