Market Live Updates Today: Trends on SGX Nifty indicate a positive opening for the index in India
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The BSE Sensex gained 254.03 points to close at 51,279.51 on March 10 while the Nifty50 rose 76.40 points to 15,174.80 and formed a small bearish candle on the daily charts as the closing was lower than opening levels.
The S&P 500 and the Dow indices hit all-time highs on March 11 as worries about rising inflation subsided, while a bigger-than-expected fall in weekly jobless claims reinforced expectations of a labour market recovery.
Asian stocks set for a strong start on March 12, following firm overnight leads from Wall Street and Europe as a further retreat in bond yields eased concerns about rampant inflation, restoring appetite for battered tech stocks.
Live Updates
- 12 March 2021 10:12 AM IST
Kalyan Jewellers India IPO to open for bidding on March 16, price band fixed at Rs 86-87
Indian jewellery major Kalyan Jewellers India on March 11 fixed the price band at Rs 86-87 per share for its initial public offering (IPO). The public issue will open for bidding from March 16-18. The anchor book, if any, will open for subscription for a day on March 15.
The company plans to raise Rs 1,175 crore through the offer which comprises a fresh issue of Rs 800 crore and an offer for sale of Rs 375 crore. The offer for sale consists of a sale of Rs 125 crore worth of shares by promoter TS Kalyanaraman and Rs 250 crore by investor Highdell Investment.
- 12 March 2021 9:32 AM IST
Sebi issues framework for MF investments in debt instruments with special features
Putting in place restrictions on the exposure of mutual funds to debt instruments with special features, regulator Sebi on Wednesday said that a mutual fund under all its schemes will not be permitted to own more than 10 per cent of such instruments issued by a single issuer. Presently, there are no specified investment limits for such instruments.
Mutual funds invest in certain debt instruments with special features — subordination or convertible to equity upon trigger of a pre-specified event for loss absorption. Also, additional Tier I bonds and Tier 2 bonds issued under Basel III framework may come under debt instruments having special features.
- 12 March 2021 9:32 AM IST
US jobless claims fall to 712,000 as pace of layoffs eases
The number of Americans seeking unemployment benefits fell last week to 712,000, the lowest total since early November, evidence that fewer employers are cutting jobs amid a decline in confirmed coronavirus cases and signs of an improving economy.
The Labor Department said Thursday that applications for unemployment aid dropped by 42,000 from 754,000 the week before. Though the job market has been slowly strengthening, many businesses remain under pressure, and 9.6 million jobs remain lost to the pandemic that flattened the economy 12 months ago.
