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The Food Corporation of India (FCI) has sold around 0.54 million tonnes of wheat out of the allocated 1.15 million tonnes to be sold through the Open Market Sale Scheme (OMSS) to traders, states, and other bidders. However, the prices of wheat are higher than last year during the same time. A kilogram of wheat cost ₹30.31 on March 6 against ₹25.67 on the same day last year, according to official data.

The Dow Jones Industrial Average fell 3.13 points, or 0.01%, at the open to 33,428.31.

The global investment bank has maintained an ‘overweight’ stance on India, with a Sensex target of 70,000, representing an upside of 17% from current levels.Matthews said that the DII (domestic institutional investors) investment is hitting record highs quarter after quarter and that foreign ownership has also bounced back from decade lows 18.4% in June last year

Nifty opened gap up and traded higher throughout the session on back of pre-festive mood to close with gains of 117 points at 17,711 levels. Except PSU Banks and Realty, all sectors ended in green.Experts say that the positive momentum will continue in the near term with Nifty making a smart recovery in the last two sessions

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Embattled Indian conglomerate Adani said on Tuesday it prepaid share-backed financing of 73.74 billion rupees

As part of the RBI’s ‘Reconstruction Scheme 2020’, a consortium of eight banks led by government-owned lender State Bank of India (SBI) executed equity commitments in the bank. SBI initially bought shares worth Rs 6,050 crore for a 48% stake in Yes Bank at a consideration of Rs 10 per share

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The most important single factor impacting equity markets now, globally, is the high inflation in the developed world, particularly the US, and the hawkish monetary response from the Fed.

Bernstein said that the operating environment for Indian banks remains the best in a decade, maintaining its bullish view on the sector. The brokerage sees HDFC Bank, Axis Bank and SBI to outperform, while it expects Kotak Mahindra Bank and ICICI Bank to perform in line with the market.