Sensex and nifty began the pre-open session on Monday in the red. Nifty gave up 14,400 while Sensex was down over 500 points.
Commodity prices traded higher during the week passed by with most of the commodities in Non-agro segment witnessing strong buying on a weaker dollar. Bullion prices gained amid inflation hedge while base metals rallied on lower supply and higher demand outlook. Crude oil prices traded up with rising hopes for fuel demand recovery.
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Dalal Street has remained range-bound for the last few weeks now. Nifty faces resistance in the range of 14,700 – 14,850 on the charts, according to technical analysts. Bulls will only be able to regain the momentum once this barrier is broken by the index. In such a scenario, analysts have been advising investors to be stock specific in their trades and avoid aggressive bets. With SGX Nifty down deep in the red on Monday morning, Sensex and Nifty look poised to open with losses once again on Monday.
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SGX Nifty was down 195 points earlier today but has now trimmed losses and is now trading at a loss of 168 points.
While investors are looking forward to the proposed listing of Life Insurance Corporation (LIC) in FY22, the government may still be racing against time to complete all the relevant processes, including restating the insurer’s finances in an investor-friendly manner, sources told FE.LIC listing, originally planned for FY21, was later rescheduled to FY22.
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Macrotech Developers Ltd’s, erstwhile Lodha Developers, which recently raised Rs 2,500 crore through initial public offering (IPO), on Friday informed that it will list its equity shares on stock exchanges on Monday, April 19, 2021. The issue was sold from April 7-9, in the price band of Rs 483-486 per share. The public issue received a lukewarm response from investors and was subscribed 1.36 times. The reserved portion of qualified institutional buyers (QIBs) was subscribed 3.05 times and that of non-institutional investors subscribed 1.44 times. While the portion set aside for retail individual investors saw a subscription of 40 per cent and employees 17 per cent.
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