Market Bizzz

IOC as well as other state-owned fuel retailers had booked heavy losses in the first quarter of the current fiscal as they did not revise petrol, diesel and cooking gas LPG prices in line with the cost to help the government contain runaway inflation.

We believe the PSU banking space is more of a play with the short-term perspective because many of them, whenever traction comes up and builds up in the space, definitely performs but with the short term perspective.

While earlier generations got lucky with long-term real estate and equity bull markets that helped create a retirement corpus, he said it is unlikely to repeat in the future.

Revenue from Flipkart’s marketplace services remained largely flat at Rs 2,823 crore while that from advertisements increased 50% to Rs 2,083 crore. The Indian company is the top contributor to parent Walmart’s ad revenue globally.

All major U.S. indexes ended the session up about 2.5% or more, with the S&P and the Nasdaq notching their second straight weekly gains. The blue-chip Dow posted its fourth consecutive Friday-to-Friday advance and its biggest weekly percentage gain since May.

Elon Musk, the world’s richest man, completed his $44 billion takeover of Twitter and tweeted that “the bird is freed” followed by “let the good times roll” on Friday.

Apple notched growth in most operating regions and product categories and released an earnings statement that contained no obvious red flags and showed the company still able to notch broad-based revenue growth.

The European Central Bank raised interest rates by 75 basis points on Thursday and put the reduction of its bloated balance sheet on the agenda, but said “substantial” progress had already been made in its bid to fight off a historic surge in inflation.