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True Beacon launches wealth management service for UHNIs
Financial services company True Beacon on Wednesday launched a new wealth management service True Beacon Wealth for ultra-high net worth individuals (UHNIs) across the globe. Operating under a Sebi portfolio management services licence, the company will manage wealth across all asset classes for leading entrepreneurs, individuals, families and institutional investors, co-founder of True Beacon Richard Pattle said.
Tata Steel shares turn ex-dividend today, rise 3%
Shares of Tata Steel rose by nearly 3 per cent to Rs 974.15 in early trade on Wednesday as the stock turned ex-dividend ahead of the record date for the final dividend payment on June 16. For the financial year 2021-22, the board of directors of Tata Steel recommended a Rs 51 final dividend per equity share. Tata Steel in a filing said, “The final dividend, if approved by the Members of the Company at the AGM, will be paid on and from Saturday, July 2, 2022.”
Union Cabinet approves DoT’s proposal to hold 5G auctions
Price as on 15 Jun, 2022 11:03 AM, Click on company names for their live prices.
EXCLUSIVE: LIC boss on stock market fall, business outlook
We are positioning ourselves as the insurer of choice and that's the reason we have 65% of the market share, says… https://t.co/9HfwmjYSMw
— ETMarkets (@ETMarkets) 1655268409000
Hero MotoCorp-backed electric two-wheeler maker Ather Energy is in talks with several state governments to set up a new manufacturing facility in the country, according to sources.
Price as on 15 Jun, 2022 10:40 AM, Click on company names for their live prices.
Market LIVE Updates: Top 5 losers on NSE in morning trade
Price as on 15 Jun, 2022 10:30 AM, Click on company names for their live prices.
Rupee inches 5 paise higher to 77.99 against US dollar in early trade
The rupee opened on a flat note and inched higher by 5 paise to 77.99 against the US dollar in opening trade on Wednesday. Forex traders said lacklustre domestic markets, elevated crude oil prices and persistent foreign capital outflows weighed on the local unit. At the interbank foreign exchange, the rupee opened at 77.99 against the dollar, registering a rise of 5 paise over its previous close. On Tuesday, the rupee had closed at its lifetime low of 78.04 against the US dollar.
Market LIVE Updates: BSE Smallcap index jumps 0.5%
Market LIVE Updates: More than the quantum of the rate hike (50 or 75 bp) it would be the message from the Fed in today’s policy announcement that would determine the market direction. The market is prepared for a 75bp rate hike and, therefore, that decision, if it comes, is unlikely to rattle markets. In India, relentless FPI selling is the major negative. With dollar index above 105 and US 10-year bond yield at 3.46 %, FPIs are likely to continue selling, pulling the market down from every rally. A sustained upward move in the market is possible only when the FPIs substantially reduce selling. The only sensible investment strategy in this scenario is to slowly accumulate high quality stocks whose prices are depressed not because of poor fundamentals, but sustained FPI selling.
– Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services
STOCK IN FOCUS: JSW STEEL
Crude steel production for May up 31% YoY
Market LIVE Updates: Voda Idea, Future Consumer, SAIL among most active stocks on NSE
Price as on 15 Jun, 2022 09:21 AM, Click on company names for their live prices.
Sector Watch | Media & financials gain the most
Sensex Heatmap: 22 of 30 index stocks in the green
OPENING BELL: Sensex gains 50 points, Nifty nears 15,750; Tata Steel jumps 2%, HUL sheds 2%
Asian shares cautious in early trade
Asian markets were in a pensive mood on Wednesday as shell-shocked investors waited to see just how aggressive the Federal Reserve would be on rates, with many fearing drastic action would risk tipping the world into recession. Treasury yields hit decade highs and the dollar a 20-year peak as futures implied it was near certain the Fed would hike by 75 basis points to a range of 1.50-1.75% later on Wednesday.
SGX Nifty signals a muted start
Nifty futures on the Singapore Exchange traded 1 point, or 0.01 per cent, higher at 15,723, signaling that Dalal Street was headed for a muted start on Wednesday.
Q4 results today
RCI Industries & Technologies, Stellar Capital Services and KHFM Hospitality and Facility Management Services are among companies which will announce their quarterly earnings today.
Tech View: Nifty50 forms ‘Inverted Hammer’, recovery possible
Nifty50 on Tuesday formed an ‘Inverted Hammer’ candle on the daily chart, which at many a time is formed around bottoms, as traders remain sceptical about the initial pullback attempts, said analysts. Analysts added that the level of 15,600-700 remains a strong support for the index going ahead. They see resistance at 16,850 level.
Oil prices slip ahead of expected US Fed interest rate hike
Oil prices dropped on Wednesday on worries over fuel demand ahead of a U.S. Federal Reserve meeting which is expected to see the central bank to hike rates by at least 75 basis points to combat inflation.
Tokyo stocks open lower ahead of US Fed action
Tokyo stocks opened lower on Wednesday in cautious trade ahead of a key US Federal Reserve decision and with expectations rising for an even tougher rate hike than previously telegraphed The benchmark Nikkei 225 index was down 0.16 percent, or 42.49 points, at 26,587.37 in early trade, while the broader Topix index was down 0.18 percent, or 3.34 points, at 1,875.11.
US stocks end mostly lower as markets await Fed rate hike
Wall Street stocks mostly fell Tuesday as markets awaited a key Federal Reserve decision and digested another report showing elevated inflation. The Dow Jones Industrial Average finished down 0.5 percent at 30,364.83. The broad-based S&P 500 fell 0.4 percent to 3,735.48, while the tech-rich Nasdaq Composite Index gained 0.2 percent to 10,828.35.
Rupee ends flat at 78.04 against US dollar
The rupee surrendered early gains to close unchanged at its lifetime low of 78.04 against the US dollar on Tuesday amid a weak greenback overseas. Forex traders said lacklustre domestic markets, elevated crude oil prices and persistent foreign capital outflows weighed on the local unit.
Sensex, Nifty on Tuesday
Domestic benchmark indices declined for the third consecutive day but managed to limit losses at the end of Tuesday’s session and settled marginally lower. Dragged by Reliance Industries and Bajaj Auto the 30-share pack Sensex fell 153 points to close at 52,694. Its broader peer, Nifty50, slipped 42.3 points to settle below the 15,750 mark.
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