Market Bizzz

​​​Higher interest rates increase the opportunity cost of holding non-yielding bullion and boosts the dollar. The European Central Bank may need to raise interest rates to a level that restricts economic growth in order to cool demand and combat unacceptably high inflation, ECB President Christine Lagarde said on Tuesday.

Yes Bank’s board has approved the sale of stressed assets worth around Rs 48,000 crore to JC Flowers ARC, which has turned out to be the sole bidder for the portfolio.

This week is also smattered with market holidays that could thin liquidity and result in sharper price moves, with Japan and Britain off on Monday, Australia on Thursday, and Japan again on Friday, among others.

The Adani family said it has completed the acquisition of Ambuja Cements & ACC and has become country’s second largest cement player.

Fed rate hike only 60% of the time leads to a recession, normally from the start of a Fed rate hike12 months, 24 months the markets tend to do well, in fact the market peaks around the 24th month and on average in the 30th month is when the recession strikes. So by that logic on average there could be expectation of a 2024 recession not for next year which is good news.

At the Face2Face Multi-Asset Trading Conclave organised by Elearnmarkets in Bangkok this week, a small group of top traders not only laid bare their top strategies but also taught newbies how to mint money in live market sessions. Experts also focused on how trading is not just about skills, luck and managing your money but also a mind game in which emotions often matter as much as intelligence.

Vanguard bought shares of Elgi Equipments in 2 lots. In the first batch, it bought over 28 lakh shares, while the second lot was of about 27 lakh shares. The average price for the deal was at Rs 489.2. The stock ended Friday with a fall of close to 7 per cent at Rs 489.05 per share.