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Vodafone Idea (VIL) had placed special resolution of issue of equity shares worth Rs 4,500 crore to the group firms of promoters Vodafone and Aditya Birla Group for transaction at the EGM.

Where once surging bond yields and commodity prices spelled big trouble for equities, now stocks are surging alongside them.

Risk assets rally even as Treasuries signal bad economic news

“Floating rate, asset allocation and any theme which has not delivered for years in the past – all these three have better scope than the market. So, for us to be scared and say we are going to get negative returns won’t be right,” says ICICI Pru’s S Naren.”

“Our broad view is that this year we will not find any sector leading the markets. So it will be a pure bottoms-up approach. One will have to be very stock specific, look at the stocks or the companies which have earnings visibility in next two-three years and a longer term valuation is comfortable. So, we have made tactical changes in our portfolio in the last four-five months.”

Money managers scrambled to start funds anyway. The likes of Schroders Plc and Franklin Templeton -- along with Goldman Sachs Asset Management -- gobbled up billions of dollars from clients looking to profit by combining investments in Brazil, Russia, India and China. That marketing ploy has come crashing down and now faces an existential crisis.

The share buyback, or share repurchase, is when a company buys back its own shares from investors or stakeholders. It can be seen as an alternative, tax-efficient way to return money to shareholders. Buybacks are attractive in tax terms even after considering the 10 per cent tax on long term capital gains (LTCG).

For the next week, I am not really sure of ITC and some chemical companies that treaded water over the last couple of weeks or so, said Lokapriya.

The weekly RSI is 50.85. It stays neutral and does not show any divergence against the price. The weekly MACD is bearish and stays below the signal line.

Over the last couple of days, I was sensing some weakness which was coming back into the banking index, said Bothra.