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Stock Market LIVE Updates: Sensex jumps 700 points, Nifty50 tops 17,300; M&M, NTPC gain 4%.
Indian equity benchmarks Sensex and Nifty50 started Friday’s session on a positive note amid a mixed trend across global markets. Broad-based gains, led by financial, oil & gas, IT, auto and metal shares, pushed the headline indices higher. Broader markets also strengthened, with the Nifty Midcap 100 and Nifty Smallcap 100 indices up nearly two percent each in early deals. Investors awaited more of quarterly numbers from India Inc for cues.
Asia to perform in line with global equities: Standard Chartered’s Steve Brice
Asia is likely to perform in line with global equities and not outperform, said Steve Brice of Standard Chartered Wealth Management. He remains bullish on the Indian market but is not expecting it to outperform.
, “Asia, we expect it to perform broadly in-line with global equities, not outperform. A big headwind is the dollar strength; we have seen a range-bound dollar in the first four weeks, but last week it started to bounce and made a new high. So that is a headwind for emerging markets generally including Asia ex-Japan equities.”
Karvy Group in big trouble..booked under AMLA.
In a Rs 2800 cr share market fraud and Money laundering case , the ED has arrested Hyderabad based Karvy Group MD C Parthasarathy and CEO Krishna Hari under AMLA. Assets worth Rs 700 cr have been attached.
Karvy group has illegally diverted clients’ securities worth Rs 2874 cr, pledging them with Banks for laons and then laundering the same.
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