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The yen crept higher against the dollar, largely shrugging off weaker-than-expected Japanese GDP data as traders postponed expectations of a rate hike from the Federal Reserve this year. The yen was 0.2% stronger against the U.S. dollar at 159.055 yen, on track for a second straight day of modest gains against the greenback but still…
In the Nifty500 pack, nine stocks’ closing prices crossed below their 200 DMA (Daily Moving Averages) on August 14, according to stockedge.com’s technical scan data. Trading below the 200 DMA is considered a negative signal because it indicates that the stock’s price is below its long-term trend line. Traders use the 200 DMA as a…
Gold prices inched higher in early Asian trade on Monday, supported by a softer dollar and recent economic data that curbed expectations of a U.S. interest rate hike next month. FUNDAMENTALS Spot gold was up 0.3% at $4,388.62 per ounce, as of 0028 GMT, while U.S. gold futures for December delivery edged 0.2% higher to…
MUMBAI: Friday’s central bank move to shorten the swap-support window for overseas deposits will likely prompt banks to raise short-term loans abroad and quicken deposit collection as regulatory latitude on the foreign currency non-resident-bank (FCNR-B) programme ends in less than two weeks, people aware of the developments said. Overall foreign borrowings by banks, however, will…
ET Intelligence Group: India Inc reported a 19.4% year-on-year revenue growth in the June quarter – the strongest in at least nine quarters – driven by strong performance in the auto, banking, metals, and pharma sectors. While net profit also grew in double digits at 11%, rising input costs made it the slowest growth rate…
The dollar remained under pressure after weak US economic data reduced bets for the Federal Reserve to raise interest rates next month. A Bloomberg gauge of the currency’s strength slipped 0.1%, hovering around levels last seen in May. The dollar was weaker against all of its Group-of-10 peers after Friday data showed US retail sales…
After racing ahead by more than 1,000 points, Nifty has hit a pause. The index is now testing key support and resistance levels, with experts split between buying dips and selling rallies as traders look for the next decisive move. SOMIL MEHTA HEAD OF RETAIL RESEARCH, MIRAE ASSET SHAREKHAN Trading StrategyThe Nifty rally is now…
Motilal Oswal Financial Services‘ chairman Raamdeo Agrawal sees 15% returns from Indian equities as a probable outcome over the next five years. In an interview with Nishanth Vasudevan, the seasoned investor spoke about foreign investor sentiment, Zepto and capital gains tax, among other topics. Edited excerpts: How are you assessing the market at this point?…
ET Intelligence Group: Horizon Industrial Parks, a logistics infrastructure developer, plans to raise ₹2,600 crore through a fresh issue to repay debt and general corporate purposes. The promoter group’s stake will fall to 75.4% after the IPO from 88.7%. The company develops and leases large warehouses and industrial facilities. Top four cities contribute about four-fifth…
A non-resident Indian (NRI) and US citizen, who has been living in America since April 2002, received an income tax notice over the source of funds used to purchase a residential flat in Kandivali West, Mumbai. He booked the property in 2011 for a consideration of ₹79.9 lakh from a Mumbai-based builder. The sale agreement…