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While the markets are cautiously watching for the historical unwinding of liquidity scenario, we believe that event of global central banks tapering their asset purchases is still a quarter or two away and the subsequent increase in interest globally will take longer than that.

There are different compelling reasons for considering investments in international equities. While India is one of the leading emerging economies, India’s equity market capitalisation is just around 3 per cent of global equity market capitalisation.

In the last 13 months, silver has tanked as much as Rs 18,250 from its peak of Rs 77,949 hit in August 2020. In the last couple of weeks, it has shed more than Rs 5,200 in the spot market.

“After Sony comes in, it will create the largest media company in India and one of the largest in the world. ”

Nifty50 formed a small-bodied bearish candle on the daily scale and closed flattish, but was hovering near to the highs of previous session.

Analysts said the 17,500-17,430 range is likely offer some support to the index. A sustained move above the 17,600 level is a must for the index momentum to stay positive, they said.

“Zee has got a more sustainable strategy and so having Punit as MD for the combined entity should translate into gains for Sony’s business in terms of cost generic also.”

In the international market, gold was trading in the green at $1,776 per ounce and silver was flat at $22.72 per ounce.

The Nifty Pharma index closed 0.39 per cent up at 14334.25.

According to the draft papers, the Chennai-based company is expected to raise Rs 600-700 crore through its initial public offering (IPO).