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Chief Executive Jamie Dimon stressed the need to build capital reserves, while flagging a number of concerns including the war in Ukraine, high inflation and the "never-before-seen" quantitative tightening as threats to global economic growth.

The Dow Jones Industrial Average shed 603 points, or 1.96%, while the S&P 500 dropped 2%. The Nasdaq Composite tumbled 1.96%.

L&T Infotech Results: Revenue for the quarter rose 30.6 per cent YoY to Rs 4,522.80 crore from Rs 3,462.50 crore in the corresponding quarter last year. Ebit margin came in at 16 per cent against 17.3 per cent in the March quarter and 16.4 per cent in the year-ago quarter.

At the interbank foreign exchange market, the local currency opened strong at 79.72 and witnessed an intra-day high of 79.71 and a low of 79.92 against the US dollar in the day trade.The local unit finally settled at 79.90 a dollar, down 9 paise over its previous close.

Volumes of securitization, where a financier raises money by giving up on future loan receivables, in the first quarter could have been even higher but for the rising inflation and higher interest rates that have spawned caution over the repayment ability of borrowers, and divergent yield expectations among originators and investors, it said.

Total revenue from operations during the quarter under review was Rs 4,468.42 crore as against Rs 3,884.94 crore in the year-ago period.Total expenses were at Rs 4,221.74 crore as compared with Rs 3,175.47 crore earlier.

Lunolux acquired 1.68 crore equity shares of Eureka Forbes constituting 8.7 per cent of the equity share capital of Eureka Forbes from Shapoorji Pallonji and Company on July 12, 2022, said a regulatory update by the manufacturer of the vacuum cleaner and water purifier.

“As on March 31, 2022, the IEV (Indian embedded value) of LIC of India has been determined to be Rs 5,41,492 crore as compared to Rs 95,605 crore on March 31, 2021, and Rs 5,39,686 crore on September 30, 2021. The IEV as of September 30, 2021, was significantly higher than the IEV of March 2021 due to the bifurcation of funds that was carried out by LIC pursuant to changes in the LIC Act during the FY 2021-22,” LIC said in a statement.

​"As Nifty50 has approached its key 20-day moving average, whose value is placed around 15800, some buying support may emerge as the index is already down for the last four trading sessions. In that scenario, the bulls can make a pullback attempt, but strength shall not be expected unless it closes above 16,070. A close below 15,800 can confirm.

“We are very confident of H1 and we are cautiously optimistic as far as the H2 is concerned but I do not think there is any immediate significant red flag at this point of time. So overall we feel that we should continue on the trajectory of profitable growth as we have always been calling out. ”