Market Bizzz

Insurance behemoth LIC witnessed a decline of nearly 20 per cent in death claims in the first quarter of this fiscal with the COVID impact seen to be ebbing, though the amount is still higher than pre-2020 levels.

Investors will be paying close attention to comments by Fed Chair Jerome Powell when he addresses an annual global central banking conference in Jackson Hole, Wyoming, on Friday.

In the coming months, FPI flows are to remain volatile. However, with the fading concerns of rising inflation, tightening of monetary policy and performance of first quarter earnings, inflows are likely to improve in emerging markets, said Shrikant Chouhan, head-equity research (retail) at Kotak Securities.

The company will consider raising funds via rights issue, reported CNBC. API Holdings rights issue will have Compulsory Convertible Preference Shares (CCPS). The right issue will open in the first week of September this year.

We have had oil going down that has been a big boost for the markets. Overall another good news is that the Atlanta Fed projection for the US for quarter three is now running at 2.5% of year on year growth in GDP. So after two quarters of negative print we are going to see a pretty strong quarter for the US economy that gives substance to the markets.

From a technical perspective, the most important of the four previous sessions was that on Friday as both Nifty and Nifty Bank Index were steeply overbought on the daily time frame. Apart from this, they also appeared structurally over-extended on the charts.

External MPC member Jayanth R Varma dissented on the resolution that said the panel would remain focused on withdrawal of accommodation while seeking to achieve simultaneous goals of restraining inflation and underpinning growth.

Recent data from exchanges and other crypto companies in India provides a glimmer of hope. It is reported around 20 per cent of crypto investors in India are women, but the numbers still show a significant gender gap.

The shares were sold at an average price of Rs 2,306.18 apiece, taking the transaction value to Rs 427.99 crore.However, the buyer(s) of the shares could not be ascertained.As of the June quarter, Great Terrain Investment Ltd held a 23.74 per cent stake in CAMS, a shareholding pattern showed.CAMS shares fell by 5.48 per cent to close at Rs 2,250.10 on BSE.