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Interbank rates hit a historic intra-day low before recovering slightly to 228.37 Pakistani rupees to the dollar from 226.81 rupees on Thursday. It was at 210.95 rupees to the dollar when trading opened on the first trading day of the week, Monday and at 178.16 at the start of 2022.

An inversion of the bond market’s yield curve has preceded every U.S. recession for the past half century. It is happening again.

Brokerage Sharekhan expects ICICI bank to report a 39.80 per cent YoY rise in net profit at Rs 6,810 crore compared with Rs 4,871 crore in the same quarter last year. NII was seen rising 20 per cent YoY to Rs 13,119 crore from Rs 10,936 crore in the same quarter last year.

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During the week, Nifty50 successfully cleared the short-term resistance of 16,300 and also cleared the 100-day SMA, said Amol Athawale, Deputy VP for technicals at Kotak Securities."For traders, 16,800 and 169,50 would act as an immediate resistance zone while 16,500-16,350 could be the key support levels," Athawale said.

JSW Steel Q1 Results: The company reported a 30.89 per cent YoY rise in revenue from operations at Rs 37,500 against Rs 28,432 crore in the same quarter last year.

“If you are able to get loyal investors who continually keep investing and then there is a very lean period and then the fund makes a comeback, you end up being a beneficiary of the whole thing. That is why investors have not really ever got out of HDFC Fund in large numbers despite intermittent poor performance.”

The 30-share pack Sensex advanced 390 points to close at 56,072. Its broader peer, Nifty50, rose 114.20 points to close above the 16,700 mark. For the week, the benchmarks have advanced over 4 per cent. This is also the best week for the stock benchmarks since February 2021.

“I do not think there will be any negative surprises. We have seen the negative surprises coming from the IT pack, and it has already been factored in as the Street estimated it. The only negative surprise is in the large cap names.”

The Nifty Realty index closed 0.34 per cent up at 439.5.