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Consumer durables stocks look ready for a comeback

Updated at : 2023-09-08 07:20:01

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3M India, Crompton Consumer, Havells India, Orient Electric, Syrma SGS, TTK Prestige, Whirlpool, Symphony, Voltas, Polycab India, and KEI Industries are among the preferred consumer durable stock picks.

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The domestic currency settled at 83.21 per US dollar, an all-time closing low. The previous record closing low was 83.15/$1 on August 17.

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"The minority shareholders of ICICI Securities are being gravely wronged by the delisting, that is, besides being unfair in every sense (valuation, methodology & logic), defies the basic grain of propriety," said Manu Rishi Gupta, founder of MRG Capital, a Bengaluru-based investment fund, in an open letter. He claims to be a shareholder of ICICI Securities.

Banking, realty, and media sectors saw the most gains of over 1%, while profit booking was seen in the FMCG and pharma space

Nifty on Thursday surpassed the immediate resistance of 19650 levels to close 116 points higher and formed a long bull candle on the daily chart

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​Shares of the Cupertino, California-based company fell as much as 5.1%, bringing its two-day slump to 6.8%. Apple is the biggest component in major US equity indexes, adding to a broader selloff sparked in part by a litany of woes in China

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Dow Jones Industrial Average falls 92.01 points, or 0.27%, at the open to 34,351.18. S&P 500 opens lower by 0.69%, while Nasdaq Composite drops 1.42% to 13,675.11 at the opening bell

The IPO comprises fresh equity issue of Rs 146 crore — a cut from Rs 180 crore fixed earlier — and an offer for sale (OFS) of 82.94 lakh shares

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Apple and other tech shares were under pressure early Thursday, as Wall Street stocks opened mostly lower amid worries over further interest rate hikes. Shares of Apple fell more than three percent following a big drop Wednesday on a Wall Street Journal report that the Chinese government was barring the use of iPhones in government offices.

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