Stock market update: BSE, NSE to remain closed today for Maharashtra Day
Business | May 01, 2024 8:40 ISTStock market update: The next market holiday of the stock exchange is on May 20 (Monday) for the Lok Sabha Elections 2024.
Stock market update: The next market holiday of the stock exchange is on May 20 (Monday) for the Lok Sabha Elections 2024.
Several factors likely contributed to today's market rebound, including positive global cues, improved investor sentiment, and strong corporate earnings reports. Additionally, easing concerns over inflation and interest rates may have also played a role in boosting market confidence.
The sudden downturn in the market sent shockwaves throughout the investor community, as concerns over various economic factors, including inflation and geopolitical tensions, fueled uncertainty and contributed to the sell-off.
The market will remain closed on January 22 in view of Ram Mandir's 'Pran Pratishtha' ceremony in Ayodhya. The consecration ceremony will be performed by PM Modi. Over 7,500 eminent guests have been invited to the grand event.
The stock listed at Rs 50, up 56.25 per cent from the issue price on both the BSE and NSE. It further rallied 74 per cent to Rs 55.70 on both the benchmark indices.
Investors opted for cautious trading strategies and trimmed their equity exposure as markets recorded a second successive session of declines. The selling pressure primarily affected metal, power, automobile, and banking stocks. However, gains in the telecom sector helped mitigate overall losses.
The increasing demand for eco-friendly packaging solutions has further driven the growth of the MSME sector and the industry as a whole.
The shares of the company will be listed on NSE Emerge, a platform for small and medium enterprises, the company said in a statement.
The decision to split the face value of shares was taken at a board meeting of the Delhi-based company on Thursday.
Adani row: Adani Wilmar will be part of Nifty Next 50 and Nifty 100 indices, while Adani Power will be included in Nifty 500, Nifty 200, Nifty Midcap 100, Nifty Midcap 150, Nifty LargeMidcap 250, and Nifty Midsmallcap 400 indices.
The cautionary statement comes after the NSE noticed that Sameer Gulabrao Thite associated with Samsan Unitrade was offering the service to handle trading accounts of investors by asking them to share their user identification (user ID) and password.
NSE co-location case: An FIR was registered in the case in May 2018, amid fresh revelations about irregularities at the country's largest stock exchange. The CBI is probing the alleged improper dissemination of information from the computer servers of the market exchanges to stock brokers.
During the hearing, the ED had opposed the bail plea, saying the investigation was ongoing in the matter and she was “directly or indirectly” indulging in the crime.
CBI has kept the probe open into allegations of preferential access granted to certain brokers by NSE officials and undue gains made out of it during tenure of Ramkrishna and Subramanian.
The Delhi ordered that former NSE CEO Chitra Ramkrishna be physically produced before the court next on March 28.
Higher crude oil prices are leading to weakness in the rupee whereas relentless selling by FIIs is also causing pressure in our market
Ramkrishna had applied for a pre-arrest bail plea which was quashed by the Delhi court. Special Judge Sanjeev Aggarwal also observed that market regulator SEBI has been "too kind" to the accused as he dismissed the anticipatory bail application of Ramkrishna
Ramakrishna, through her counsel, had approached the court seeking relief from her arrest. Her plea was opposed by the prosecution. After hearing the argument of defense and the prosecution, the court dismissed the plea.
Anand Subramanian was taken into custody late Thursday night. He was questioned for days in Chennai before the CBI decided to arrest him.
Chitra Ramkrishna is in the news after a recent Sebi order said she was steered by a yogi, dwelling in the Himalayan ranges, in the appointment of Anand Subramanian as the exchange's group operating officer and advisor to the managing director (MD).
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