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The 200-day DMA is used as a key indicator by traders for determining the overall trend in a particular stock. As long as the stock is priced above the 200-day SMA on the daily time frame, it is generally considered to be an overall uptrend.

A total of 1,317 shares changed hands on the counter till 11:22AM (IST)

However, analysts said markets would take a sigh of relief with the Fed setting the stage for peaking of rate hikes, hinting departure from previous statements which cautioned “ongoing increases” would be appropriate to tackle inflation, despite the status quo in quantitative tightening.

The stock traded at a P/E multiple of 80.04, while the price-to-book value ratio stood at 11.55.

Risk control is crucial for investors when selecting companies to invest in, and Mark Mobius, Partner at Mobius Capital Partner, believes ESG plus C (culture) is particularly significant. Companies that experience issues with society, environment, governance or staff inevitably become a greater risk, so investors must look for firms that have a well-rounded approach to ESG and culture. For selecting stocks, Mobius advocates price makers, as opposed to price takers.

As of 9.21 am, the S&P BSE Sensex dropped 265 points or 0.46% to 57,949, while the Nifty 50 index fell 90 points or 0.52% to 17,062.

Manappuram Finance, incorporated in the year 1992, is a Mid Cap company (having a market cap of Rs 10093.26 Crore) operating in NBFC sector.

The rupee opened at 82.3750 per dollar, its strongest level in a week. The currency ended at 82.6550 on Tuesday. The market was closed on Wednesday for a local holiday.

Northern Arc Capital CEO, Ashish Mehrotra, says investors are increasingly opting for a “Do It Yourself” (DIY) approach to fixed income investments rather than using mutual funds, and will continue to do so throughout 2023. Younger, financially literate investors are increasingly seeking information from various sources and demanding greater diversification in their investment portfolios.

The Rs 155 crore IPO was subscribed 12.21 times after heavy bidding from non-institutional investors. The retail part was subscribed 5.12 times, and the NII category was subscribed 33 times. The portion reserved for qualified institutional buyers (QIBs) saw 8.95 times subscription.