Latest Stock Market News

Siddhartha Khemka: So if you look at the broader spectrum, auto is another sector or space, directly linked to the rural sector, but some of these OEMs have a mixed kind of outlook in the near term. So, there is an indirect play on the auto tyres.

For more such web stories click on the ET icon below

A softer rate hike of 35 bps is justified against the backdrop of moderation in inflation despite it remaining above the upper limit of RBI’s inflation target band for 10 months in a row

The Nifty Bank index closed 0.09 per cent down at 43098.7.

Proceeds from the fresh issue will be utilised towards investment in its NBFC subsidiary, Abans Finance, for financing the augmentation of its capital base to meet future capital requirements and for general corporate purposes.

The Nifty 50 index closed 0.44% lower at 18,560 and the S&P BSE Sensex finished 261 points down to 62,410.

According to Sebi, Sumangal Industries had collected funds from investors through illegal collective investment schemes (CIS), while the other three firms garnered capital from investors by way of issuance of securities such as non-convertible debentures (NCDs) and redeemable preference shares (RPS) without complying with the regulatory norms.

The index slipped below its recent consolidation on the hourly chart, suggesting a waning bullishness. The momentum oscillator is in a bearish crossover. The trend is likely to remain negative going forward; support on the lower end is pegged at 18,500/18,350. On the higher end, resistance is visible at 18,670/18,750.

The RBI has begun experiments on both the wholesale and retail versions of e-rupee using blockchain distributed-ledger technology, as an alternative to cash.

>> For more such web stories click on the ET icon below