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Prices dropped on Monday as the dollar strengthened on expectations of a possible May interest rate hike by the U.S. Federal Reserve that could dampen economic recovery hopes.

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From a high of 7.62% in mid-June, yield on the Indian 10-year bond declined to 7.19% at the end of August. Following its off-cycle repo rate increase of 40 basis points in May, the Reserve Bank of India (RBI) hiked the policy rate by 50 bps each in June and August.

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On the ex-split date, investors holding the stock until the record date will receive the new shares in Demat accounts, and the stock price will be adjusted according to the split ratio.

In July, 2022 Prime Minister Narendra Modi launched the NSE IFSC-SGX Connect, a joint venture between the National Stock Exchange of India (NSE) and the Singapore Exchange (SGX), which would trade and clear Nifty equity derivatives for global institutions.

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The company was "responsibly optimistic" about 2023, Chief Financial Officer Joseph Wolk said on a conference call, pointing to fierce competition for cancer drug Imbruvica and inflation as some of the hurdles it was facing this year.

Earlier during the day, shares of Avalon Technologies made a tepid debut at the bourses due to negative market sentiments. The stock listed at a mild discount of 1% on BSE at Rs 431 against an issue price of Rs 436.

Jindal Stainless shares will likely trade ex-dividend a day or two before the record date. When a company goes ex-dividend on a particular date, its stock does not carry the value of the next dividend payment. An ex-dividend date also dictates which shareholders are eligible to receive the dividend payment.