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Aditya Birla Group firm Grasim Industries on Tuesday said it has doubled the Capex for its foray into the paints business to Rs 10,000 crore and expects to start production from the fourth quarter of 2023-24. In August last year, Grasim Industries’ board had approved a Rs 5,000 crore capital expenditure (CAPEX) plan to set up a paints business.
Price as on 25 May, 2022 09:34 AM, Click on company names for their live prices.
Voda Idea, YES Bank, SAIL, Adani Power among most active stocks on NSE
Price as on 25 May, 2022 09:31 AM, Click on company names for their live prices.
Sector Watch: IT pack sole sectoral loser in opening deals
OPENING BELL: Sensex gains 300 points, Nifty tops 16,200; IndusInd rises 2%, Asian Paints drops 2%
Pre-open session: Sensex rises 200 points, Nifty nears 16,200
US Fed to release minutes of May policy meet today
On Wednesday, investors will get a more detailed glimpse into the Fed’s decision-making process with the release of minutes from the latest policy meeting. The US central bank is raising interest rates aggressively from historic lows, but investors are concerned that it could go too far in raising rates or move too quickly. That could slow down businesses and potentially bring on a recession in the US, AP reported.
SGX Nifty signals a positive start
Nifty futures on the Singapore Exchange traded 37.50 points, or 0.23 per cent, higher at 16,136.50, signaling that Dalal Street was headed for a positive start on Wednesday.
Tech View: Nifty50 may stay rangebound
Nifty50 on Thursday formed a small bearish candle on the daily chart and negated its higher high-low formations. That said, it stayed rangebound in an otherwise weak day for global equities. Analysts expects the index to keep trading in the broad range of 15,900-16,400 going ahead.
Hong Kong stocks open flat
Hong Kong shares opened barely moved Wednesday morning following a tepid lead from Wall Street as traders fret over the impact of US interest rate tightening. The Hang Seng Index inched up 3.46 points to 20,115.56. The Shanghai Composite Index was barely moved, dipping 0.76 points to 3,070.17, while the Shenzhen Composite Index on China’s second exchange added 0.18, or 3.43 points, to 1,925.90.
Japan stocks open lower after falls on US tech shares
Tokyo stocks opened lower on Wednesday after US stocks mostly retreated on concerns about growth following a profit warning from the owner of Snapchat that shocked the tech sector. The benchmark Nikkei 225 index was down 0.13 percent, or 36.02 points at 26,712.12 in early trade, while the broader Topix index was down 0.08 percent, or 1.56 points, at 1,876.70.
Technology stocks pull Wall Street lower
Stocks on Wall Street gave up more ground Tuesday amid mounting worries that persistently high inflation will dim corporate profits. The S&P 500 fell 0.8%, while the Nasdaq dropped 2.3%. The Dow Jones Industrial Average eked out a 0.2% gain, thank’s primarily to big gains for McDonald’s and UnitedHealth. Big technology and communications companies helped weigh down the broader market, though some of the selling eased by late afternoon.
Rupee slips 2 paise to close at 77.57 against dollar
The rupee slipped by 2 paise to close at 77.57 against the US dollar in restricted trade on Tuesday, weighed down by a negative trend in domestic equities and unabated foreign fund outflows. Suspected RBI intervention and the US dollar falling to a month’s low against major global currencies capped the rupee’s losses, analysts said. At the interbank foreign exchange market, the rupee opened lower at 77.56 against the greenback, and finally settled at 77.57, down 2 paise over its previous close.
Sensex, Nifty on Tuesday
Market benchmarks racked up losses for the second straight session on Tuesday, in tandem with a lacklustre trend in global equities as worries about economic recovery and inflation kept sentiment subdued. The 30-share BSE Sensex opened higher but could not carry forward the momentum in see-saw trade. It finally closed 236 points or 0.43 per cent lower at 54,052.61. On similar lines, the broader NSE Nifty dropped 89.55 points or 0.55 per cent to end at 16,125.15.
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Read More: sensex today: Stock Market Live Updates: Sensex gains 300 points, Nifty tops 16,200; IT