Stock Market Today: GIFT Nifty on the NSE IX rose 16.5 points to 19846.50, indicating that Dalal Street got off to a good start on Thursday. On the daily chart, the Nifty closed roughly 121 points higher, forming a decent bullish candle with a small upper shadow. Following a bumpy morning on Wednesday, Wall Street’s major indexes closed higher, with the release of minutes from the US Federal Reserve’s most recent meeting suggesting caution among policymakers, which helped fuel investor hopes that rates would remain stable.
Rupee strengthened; Doller two week low
The rupee strengthened for the second day in a row, rising 7 paise to close at 83.18 against the US dollar on Wednesday, owing to strong purchasing in domestic equities and a weak US currency overseas. The dollar was around a two-week low on Thursday as investors awaited important inflation data and minutes from the last US Federal Reserve meeting, which showed policymakers taking a cautious approach.
Stock Market Today: Govt may offload 3.5% via initial OFS
According to a government official, the government may consider selling only 3.5 percent of its 29.5 percent stake in Hindustan Zinc Limited (HZL) through the offer for sale (OFS) route in the initial tranche, as investor interest remains low and keeping 26 percent will allow the government to retain some rights as a shareholder. Investors in this (HZL) case want the government to remain a shareholder. The OFS will be structured in response to investor demand. Some rights remain with the shareholder up to 26 percent. Many rights will be lost if the government falls short of 26 percent. As a result, the government may consider dumping 3.5 percent.
Disclaimer: (This information is provided solely for informational purposes. It is important to note that investing in the market or a business idea involves market risks. Before investing money as an investor/ owner/ partner, always consult an expert. DNP News Network Private Limited never advises to invest money on stocks or any specific business idea. We will not be liable for any financial losses.)
Keep watching our YouTube Channel ‘DNP INDIA’. Also, please subscribe and follow us on FACEBOOK, INSTAGRAM, and TWITTER
