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So, because the valuations had significantly run up, it is not that we do not like the businesses, we definitely like the businesses but we did not like the valuations.

Oil prices were stable on Tuesday as concerns over supply cuts from Saudi Arabia and Russia were weighed against weak crude demand. Brent crude futures rose slightly by 0.3% to $74.87 a barrel, while US West Texas Intermediate crude increased by 0.3% to $70.06. Saudi Arabia and Russia plan to extend their voluntary production cuts in August, resulting in a total reduction of 1.5% of global supply pledged by OPEC+ members. However, worries about oil demand remain due to a slump in global factory activity and sluggish demand in China and Europe.

A 5-year swing high represents the highest price a stock has reached within a five-year timeframe. This level acts as a significant resistance point where the price has historically struggled to go beyond.

The 200-day DMA is used as a key indicator by traders for determining the overall trend in a particular stock.

RBI deputy governor Patra said that the choice of policy action is ultimately a trade-off between the desirable and the feasible and the policy making eventually rests on a judgment call based on information, experience, and a ‘feel’ or a ‘sniff’ of how the state of the economy is likely to evolve over the future.

Under the proposed merger, shareholders of IDFC Ltd will get 155 shares of IDFC First Bank for every 100 shares held in the former.

The finance ministry has proposed a substantial increase in penalty and punishment to the ministry of electronics and information technology (Meity) for inclusion in the proposed Data Protection Bill, likely to be introduced in the monsoon session of Parliament.

As a result of the proposed merger, the standalone book value per share of the bank would increase by 4.9%, as calculated on audited financials as of March 31, 2023.

On Friday, the yield on the 10-year benchmark government bond settled at 7.12%, its highest closing level since April 28. The yield on the 10-year bond settled at 7.12% on Monday too, 15 basis points higher than a low of 6.97% touched on May 19. Over the same period, the yield on the highly liquid four-year bond climbed 13 basis points.

​​That compares with an 11% gain in the Nifty 50 index. The tech-heavy Nasdaq has rallied 15% in this period, while the NYSE FANG+ surged 26%. The ET Ecommerce NonProfi table index, comprising stocks that are yet to make money, gained 30% in three months and outperformed the ‘Profi table’ index which climbed just about 16%.