Markets maintain winning run for 2nd day, post weekly gains
Tech Mahindra was the top gainer in the Sensex pack, spurting 3.32%, followed by IndusInd Bank, Infosys, HCL Tech, Maruti, SBI, TCS and Wipro. UltraTech Cement, Mahindra & Mahindra, Larsen & Toubro, Bajaj Finance and Bajaj Finserv and Titan were among the laggards, shedding as much as 1.94%.
Nomura sees bigger fed rate hikes in Sept, Nov
The analysts maintained their projections of 25-basis-point increases each in December and February, which would bring their terminal interest rate forecast to 4%-4.25%. The Nomura revision follows forecast revisions by Goldman Sachs Group Inc. earlier this week and matches both the size of those changes and the latest calls.
CCI finds no violation of competition law by Asian Paints
JSW Paints, a unit of the steel-to-cement JSW Group, is a recent entrant into the decorative paints market where Asian Paints holds about 40% share. The company had alleged in 2020 that Asian Paints was using its dominant position in the market to block its entry into the states of Karnataka, Telangana and Tamil Nadu.
Only RBI-oked loan apps to make it to app stores
This comes after Finance Minister Nirmala Sitharaman on Thursday held detailed deliberations in respect with legal, procedural & technical aspects of issues related to illegal Loan Apps with officials from finance ministry, corporate affairs, electronics & information technology and RBI.
Bitcoin leaps above $21,000 as US dollar sags broadly
Marcus Sotiriou a market analyst at GlobalBlock attributed Bitcoin’s climb to optimism that the United States could report another decline in inflation next week. Such a decline would typically be expected to support assets like cryptocurrencies that do well when markets have an optimistic tone.
PV sales robust in August on strong consumer demand
Similarly, total two-wheeler wholesales increased to 15,57,429 units last month, compared to 13,38,740 units in the year-ago period, a growth of 16 per cent. Total three-wheeler sales rose to 38,369 units last month against 23,606 units in August 2021, up 63 per cent.