Latest Stock Market News

The much-awaited bill purports to create a facilitative framework for the creation of the official digital currency to be issued by the Reserve Bank of India.

The Dow Jones Industrial Average rose 0.67 points at the open to 35,619.92.

The bonds, marked as subordinated debt in market parlance, offered 7.75 percent with a 10-year maturity.

As the size of the government’s debt has grown, so have its repayment obligations. Ensuring adroit handling of these payments is growing into quite a headache for the central bank.

With the global bias shifting towards Non-Fungible Tokens and creator monetization, these Web 3.0 incentivizing tokens mentioned above are expected to enjoy some well-deserved attention in the middle and long term.

Analysts believe the range of 17,680-17,710 may pose as stiff resistance for the index going ahead while 17,200 will act as immediate support.

“FIIs have been selling because there are cheaper markets out there. We have seen somebody move towards the Chinese market, away from India in the short term. “

Much of the rally in the benchmark stock indices in India have been driven by a swift factoring in of best-case scenario earnings and economic growth over the next two years. The Nifty50 index is trading at 22 times one-year forward earnings, which is well above its historical average.

“Rs 474 crore out of the Rs 600 crore issue is the money that is going into the company to fund our growth aspirations. The remaining Rs 126 crore is the OFS part. The promoters themselves are diluting a very small portion -- about Rs 60 crore. ”

The buying in Paytm stock happened after it lost nearly half of its value from its issue price of Rs 2,150 over the past two days, as investors were unconvinced of the company’s rich valuations in the face of weak earnings and business fundamentals.