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Central banks ought to own up for delivering on price stability and must be given the independence to act for achieving it, a top official from the Federal Reserve Bank of New York said on Friday.

Leveraging its strong product portfolio, the company is actively expanding its general trade presence through robust sales and distribution strategies. Additionally, it has experienced significant growth in alternate channels such as e-commerce, quick commerce, and modern trade, achieving a 19% year-on-year volume increase in the first quarter.

The Dow Jones Industrial Average rose 5.40 points, or 0.01%, at the open to 39,313.40.

The amount of cryptocurrency stolen in hacks globally more than doubled in the first six months of 2024 from a year earlier, driven by a small number of large attacks and rising crypto prices, blockchain researchers TRM Labs said on Friday.

The Nifty Bank index closed 0.83 per cent down at 52660.35.

The bank index fell over 400 points to close at 52,660 while the Nifty50 rose more than 21 points to close at 24,323 on Friday. PNB, Bank of Baroda, SBI, and The Federal Bank saw considerable buying, while AU Small Finance Bank, IndusInd Bank, Bandhan Bank and HDFC Bank saw selling pressure.

Domestic jewellery sales grew 8% year-on-year, boosted by double-digit growth during Akshaya Tritiya. However, high gold prices and fewer wedding days dampened consumer demand compared to the previous quarter. Growth was primarily driven by increased average selling prices, while buyer growth remained in low single-digits. Tanishq expanded internationally with a new store in Muscat.

With the underlying trend of Nifty being positive, possibility of an upside breakout around 24,400-24,500 levels in next few sessions looks plausible. Analysts see immediate support at the 24,170 level.

In a rapidly rising market, evaluating stocks that offer exceptional returns for investors can pose challenges.

Markets regulator Sebi has issued new guidelines to streamline operations and enhance the ease of doing business for credit rating agencies. The circular introduces specific timelines for dealing with appeals made by companies regarding rating actions carried out during periodic surveillance of ratings.