Equity markets closed last week at record levels on positive global cues. The 30-share BSE Sensex jumped 502 points to settle at its new all-time closing high of 66,060, while the broader Nifty went up by 150 points to end at a new record peak of 19,564. Stocks that were in focus include names like … Read more
Federal Bank reported a standalone net profit of Rs 854 crore for the quarter ended June on Thursday, rising 42% compared to the company’s Rs 601 crore-Q1 profit of the previous year. The net interest income (NII) for the first quarter rose nearly 20% to Rs 1,919 crore. It was Rs 1,605 crore in the … Read more
Indian market recouped losses and closed higher on Monday. The S&P BSE Sensex rose nearly 500 points while the Nifty50 closed above 17300 levels. Sectorally, buying was seen in utilities, power, banks, the public sector, and energy while selling was seen in metals, realty, telecom, and capital goods. Stocks that were in focus included names … Read more
Indian market closed in the green for the second consecutive day on Monday. The S&P BSE Sensex rallied more than 400 points while the Nifty50 reclaimed 17,600 levels. Sectorally, buying was seen in metals, capital goods, telecom, banks, realty, and finance stocks while selling was visible in oil & gas, as well as power stocks. … Read more
Domestic brokerages remain bullish on the , Rakesh Jhunjhunwala‘s largest banking bet, after a strong performance in the June quarter. The private lender, which had announced its earnings on Friday, reported a 63.53 per cent year-on-year (YoY) rise in net profit at Rs 600.66 crore compared with Rs 367.29 crore in the same quarter last … Read more
Federal Reserve Chair Jerome Powell, who’s carefully telegraphed interest rate hikes over four years, looks likely to abandon gradualism and move more forcefully to stamp out inflation along with growing concerns that it will persist. The Federal Open Market Committee is expected to raise rates 75 basis points by Wall Street firms including Goldman Sachs … Read more