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Option data suggests a shift in trading range in between 19500 to 20200 zones while an immediate trading range in between 19600 to 20000 zones.

​And that is one more reason why the stock is probably down. So I think both in the news, as well as the expectations in terms of being held by 40% by the parent company itself, entailing a holding company discount for minority shareholders.

Investors are awaiting Microsoft, Google-owner Alphabet and Meta Platforms earnings this week, which will show whether their stocks justify sky-high valuations.

The crude benchmarks have already climbed for four weeks in a row with supplies expected to tighten due to cuts from the Organization of the Petroleum Exporting Countries (OPEC) and allies like Russia, a group known as OPEC+.

The euro was shaky at $1.1063, up just 0.02% having slumped to a two-week low of $1.1059 earlier in the session, after a survey on Monday showed euro zone business activity shrank much more than expected in July, reigniting recession fears.

Markets are fully priced for quarter-point rate hikes from the Fed and the European Central Bank. So, the focus will be on what Fed Chair Jerome Powell and ECB President Christine Lagarde say about the future and their September meetings.

The benchmarks rose 1.5% and 2.2% respectively last week, their fourth straight of week of gain, as supply is expected to tighten following OPEC+ cuts. Fighting also escalated last week in Ukraine after Russia withdrew from a U.N.-brokered safe sea corridor agreement for grains exports.

Policymakers are poised to lift rates by a quarter point following a two-day policy meeting Wednesday, bringing the target on their benchmark rate to a range of 5.25% to 5.5%. Projections released by Fed officials in June showed most of them foresee at least one more rate hike by year end.

The net profit in the first quarter of FY24 is the highest ever for Poonawalla Fincorp. In April-June, quarterly disbursements more than doubled from a year ago and were 11% higher than a quarter ago.

The asset under management for Spandana jumped 60% to Rs Rs 8,848 crore while gross non-performing assets ratio fell to 1.63% at the end of June from 2.07% three months prior to this. Net NPA stood at 0.49%.