NEWS
Indian shares registered a weekly loss, Friday with the Nifty 50 settling lower on due to hawkish central banks, lower earnings guidance by Accenture and consolidation in domestic benchmarks.
Indian shares settled lower on Friday to register a weekly loss, with the Nifty 50 in negative territory through the session as hawkish central banks soured risk appetite and domestic benchmarks began consolidating.
Adani Group is targeting a 20% year-on-year growth in pre-tax profits to reach Rs90,000 crore EBITDA in two to three years.
Stocks in focus included names like Indigo or InterGlobe Aviation, that pared gains after hitting a fresh 52-week high, PolicyBazzar,
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Bajaj Auto, Bajaj Finance, and Bajaj Finserv, part of the Nifty index, will trade ex-dividend this week. Bajaj Auto has announced a dividend of Rs 140 per share,
Last week, six of India’s top-10 firms saw a drop of INR 102,280.51 crore ($14bn) in combined market valuation, with Reliance Industries suffering the biggest decline.
Foreign portfolio investors (FPIs) have invested over Rs 30,600 crore ($4.5bn) in Indian equities in June, amid support for the country’s macroeconomic stability and corporate earnings at a time of difficult conditions in the US and UK.
Indian markets ended the week in the red, with the Nifty50 dropping 0.85%. Experts suggest that the futures market will provide cues for Monday’s opening, with impacts from US markets over the previous week to be taken into account.
VWAP or Volume Weighted Average Price is the average price of a stock, adjusted for its volume. It is calculated during a traded session by considering the total trading value in the stock and dividing it by the number of shares traded.
European shares closed lower on Friday amid concerns of higher interest rates and inflation, prompted by central bank policy decisions throughout the week.
Equity markets closed in the negative zone this week due to cautiousness in global markets. Despite this, Sensex reached an all-time high level.
