Nureca shares began trading on Dalal Street on Thursday at Rs 634.95 per unit, a strong listing debut over its price band of Rs 396-400 apiece. Nureca shares listed with a 58.74 per cent premium over the IPO price on BSE. While on NSE, the shares got listed at Rs 615 apiece, a 53.75 per cent premium over the issue price. The Rs 100 crore public issue was subscribed 39.93 times during the three-day bidding process.
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Rupee is likely to take positive cues from optimistic domestic developments and weaker US dollar. However, impact of rising crude oil prices and steepening US yield curve could be key trigger points to reverse the rupee’s gain against US dollar. Overall, buying pressure from oil importers could limit downside in USDINR pair around 72.30. Whereas, rising premium receivables for long term forward selling attracts exporters on every upticks around 72.50. The short term range is likely to be 72.30-73.30. It will be revised once breaches 72.30 on weekly closing basis.: Amit Pabari, managing director, CR Forex Advisors
Ashish Sardana – Group Treasurer, Bharti Airtel said: “The strong reception of both our senior and perpetual bonds by high-quality global investor community reflects its confidence in our business and credit. We remain focused on keeping our balance sheet strong and these issuances further bolster our capital structure. We are delighted by the outcome and thank our investors for their continuing support.
Airtel has priced US$750 million of senior 10.25-year bonds at a yield of US 10 Year Treasury + 187.5bps for an implied coupon of 3.250%. Simultaneously, Network i2i Limited, a wholly-owned subsidiary of the Company priced US$500 million in guaranteed subordinated perpetual NC 5.25 year bonds with a coupon of 3.975%. This is the lowest every yield on 10 year and Perpetual bonds for Bharti Airtel.
Bharti Airtel has priced its debt fundraise of US$1.25 billion through the issuance of its first-ever dual-tranche US$ bond offering spread across senior and perpetual issuance. This is the largest issuance by any Indian Investment Grade issuer since January 2019.
In this volatile market, where dips & bouncebacks are sharp, the directional trend is upwards. The ‘higher highs’ & ‘higher lows’ indicate the long-term bullish trend. The fundamental reason for this trend, which is global, is the abundant liquidity available in the global financial system and the Fed’s declared commitment to keep liquidity flowing and maintaining interest rates at historical lows. The takeaway from this is that markets can remain buoyant for an extended period of time. While riding this bull run investors will have to remember the fact that valuations are high and there is risk ahead. Financials, particularly banks, appear strong fundamentally: V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
All the sectoral indices were trading in the positive territory. Nifty Metal index was up over 2 per cent, while Nifty PSU Bank index jumped nearly 2 per cent
Nestle India, Power Grid Corporation of India and Asian Paints were trading in red in an otherwise strong trade on Thursday.
Top BSE Sensex gainers were Axis Bank, ONGC, IndusInd Bank, HDFC Bank, Infosys, HCL Tech, TCS, Kotak Mahindra Bank and Bharti Airtel among others.
BSE Sensex jumped 540 points to 51,323, while the broader Nifty 50 index surged 160 points to trade at 15,142 on Thursday
BSE Sensex jumped 400 points to 51,171, while the broader Nifty 50 index surged 167 points to trade at 15,150 in pre-opening session on Thursday
Nifty futures were trading 242 points or 1.63 per cent higher at 15,048 on Singaporean Exchange, indicating a strong opening for BSE Sensex and Nifty 50 on Thursday. The Indian share market may continue with volatility given the monthly F&O expiry today. According to an analyst, the short term downtrend trend of Nifty seems to be placed at the verge of reversal and further upmove is expected to confirm this turnaround in the market.
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The National Stock Exchange (NSE) on Wednesday halted trading for nearly four hours because of technical glitches. The NSE said trading resumed at 3.45 pm after activity came to a halt at 11.40 am. Both the NSE and BSE extended trading hours for the equity and derivatives markets till 5 pm. Though the NSE stopped functioning at 11.40 am, the BSE remained functional throughout the day, allowing trades to be concluded in the cash segment. Trading resumed at 3:45 pm on the NSE to allow settlement and closure of trades in the derivative segment.
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US stocks on Wall Street ended higher in overnight trade after Federal Reserve Chair Jerome Powell’s comments calmed inflation worries. The Dow Jones Industrial Average closed up 1.35 per cent, the S&P 500 gained 1.14 per cent and the Nasdaq Composite added 0.99 per cent. The Dow and the S&P 500 set for their best month since November.
Asia stocks were seen trading higher on Thursday following gains on Wall Street. Japan’s Nikkei 225 jumped 1.61 per cent and the Topix index also gained 1.41 per cent.
BSE Sensex and Nifty 50 were likely to open on a strong footing on Thursday, as suggested by trends on SGX Nifty in early trade. Nifty futures were trading 219 points or 1.48 per cent higher at 15,025 on Singaporean Exchange.
Reserve Bank of India (RBI) governor Shaktikanta Das on Wednesday sought to calm the bond markets saying they should trust the central bank based on its past actions, read its signals and co-operate in the orderly evolution of the yield curve. Das reassured them saying liquidity will continue to be sufficient.
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