Stock Market Today: GIFT Nifty on the NSE IX rose 4 points, or 0.02 percent, to 19,551.50, indicating that Dalal Street will have a quiet start on Monday. Nifty climbed above the 21-EMA on Friday after a several-day gap, forming a lengthy bull candle on the daily charts, indicating the possibility of a bullish reversal. A respectable bull candle with a small lower shadow was noticed on the weekly charts. The Sensex gained 0.86% or 555 points to close at 65,387, while the Nifty 50 gained 0.95% or 181 points to close above 19,400 on Friday.
Rupee recovers; Tokyo stocks opened higher
Due to currency inflows and good macro indicators, the rupee regained 8 paise to close at 82.62 against the US dollar on Friday. Tokyo stocks opened higher on Monday, following Wall Street gains on lower job statistics, which bolstered chances of a halt to US interest rate hikes.
Stock Market Today: ITC to invest Rs 1500 crore
ITC stated that “The two projects, when complete, would entail a total investment outlay of Rs 1,500 crores which will support livelihoods across sustainable value chains.”
ITC announced on Sunday that it will invest approximately Rs 1,500 crore in Sehore, Madhya Pradesh, to establish an integrated food production and logistics complex as well as a sustainable packaging goods manufacturing plant. While the food plant will produce ITC products such as Aashirvaad atta, Sunfeast biscuits, and ‘YiPPee!’ noodles, the moulded fibre products facility will be a pioneer in sustainable packaging, contributing to plastic substitution in areas such as electronic packaging, FMCG packaging, and the food and beverage sector.
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