The post Share Markets close higher on the first of FY23: Sensex recaptures 59k mark first appeared on Corp India News.
]]>The Sensex jumped 828.11 points or 1.41% to 59,396.62 during the day and settled at 59,276.69, while NSE Nifty rallied 205.70 points at a 1.18% rise, settling at 17.670.45.
NTPC, PowerGrid, State Bank of India, HDFC, IndusInd Bank, Mahindra & Mahindra, HDFC Bank, Bajaj Finance and Axis Bank from the 30-share Sensex pack were the star players during the first trading session of the new financial year. While shares of Tech Mahindra, Sun Pharma, Dr Reddy’s, Titan and Infosys remained sluggish.
Talking about other Asian stock exchanges, Seoul and Tokyo ended lower, while Shanghai and Hong Kong too performed well.
European stock exchanges mainly were trading higher, while the overnight trading session of the US stock exchanges ended on a negative note.
Talking about the over market sentiments this week, Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd, said, “Indian equity markets gave positive returns this week. Globally too, equity markets remained broadly resilient, led by optimism on progress in Russia-Ukraine negotiations,”
“On the other hand, commodities saw some correction from the recent highs. In India, markets saw broad-based gains with most sectoral indices giving positive returns”, he added.
Speaking on the current inflation in the Crude Oil market, he said, ” Crude oil prices corrected this week, and that is some positive for import-dependent countries including India,”
Notably, the international oil benchmark Brent crude jumped 0.22% to USD 104.94 per barrel.
As per the stock exchange data, Foreign Institutional Investors (FIIs) bought shares worth Rs 3,088.73 crore on the last day of the previous financial year. This move had set the momentum for the opening day of the new financial year. For 2021-22 fiscal, the BSE Sensex jumped 9,059.36 points or 18.29%, while the Nifty rallied 2,774.05 points or 18.88%.
Additionally, the official data suggested that the production of eight infrastructure sectors expanded by 5.8% in February, the sharpest growth in the last four months, on the back of better output of coal, natural gas, refinery products and cement industries.
The post Share Markets close higher on the first of FY23: Sensex recaptures 59k mark first appeared on Corp India News.
]]>The post BSE signs MOU with Federal Bank to list SMEs first appeared on Corp India News.
]]>The collaboration will enable BSE to take advantage of Federal Bank’s SME and Startup clientele to encourage them regarding listing their companies on the stock exchange.
Ajay Thakur, Head of BSE, SME and Startups, said: “We are excited to partner with Federal Bank, and this collaboration will enable us to tap the large SME & Startup client base of Federal Bank spread across the country and educate them on the benefits of listing.
He further said that this step is stepping stone in BSE’s endeavour to further penetrate the SME and Startup ecosystem and provide them with the platform for equity financing.”
BSE, India’s premier stock exchange and a leading private sector bank, Federal Bank, will jointly evaluate the SMEs and startups undergoing the listing process.
Harsh Dugar, Group President and Country Head, Federal Bank, said: “We are delighted to partner with BSE on the SME and Startups space. As one of India’s foremost tech-led banks, this is an area of sharp focus for us. Our full-stack product suite and our deep understanding of this sector make us a banker of choice to the SME ecosystem, and we are confident of significant synergies that both our institutions can derive from this partnership.”
It is to be noted that there are 364 SMEs listed on the BSE SME platform, and 14 companies have been listed on BSE Startups platform until today.
The post BSE signs MOU with Federal Bank to list SMEs first appeared on Corp India News.
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