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IHC divests stake in Adani Enterprises as major investments unfold

IHC has divested a $210 million stake in Adani Enterprises, while Trump has announced an upcoming visit to Saudi Arabia. Additionally, ADQ has acquired a 58% stake in Aramex, Binance secured a $2 billion investment from MGX, and FAB has approved a record dividend of Dh8.3 billion.

Morgan Stanley rates Mahanagar Gas as overweight with significant growth potential

Mahanagar Gas Ltd (MGL) received an 'overweight' rating from Morgan Stanley, which set a target price of Rs 1,606, indicating a 31% upside. The firm highlights the growing demand for natural gas in Mumbai, positioning MGL as a leader in this transition, akin to a 'Tesla-like moment' for gas adoption. Despite potential margin pressures due to LNG supply links, strong volume growth is expected to enhance the company's market valuation.

stock market crash sensex plunges over 1000 points amid global turmoil

The Sensex plummeted by over 1,000 points, closing at 76,330, driven by unfavorable global cues, significant FII sell-offs, and a historic low for the rupee against the dollar. Rising Brent crude prices and concerns over inflation further dampened market sentiment ahead of the upcoming Union Budget 2025.

Indian stock market plunges over 1.5 percent amid virus outbreak fears

The Indian stock market faced a significant downturn on January 6, with both the Sensex and Nifty 50 indices dropping over 1.5% amid fears of a new virus outbreak in China. The Nifty 50 closed at 23,616 points, slipping below the crucial 24,000 level, while the broader market indices, including Nifty Smallcap 100 and Nifty Midcap 100, fell by 3.2% and 2.7%, respectively. Major sectoral indices suffered losses, particularly in PSU Bank, Metal, and Energy sectors, with ITC leading individual stock declines at 8.1%.

Sensex plunges nearly 1000 points amid trade deficit and Fed meeting concerns

The S&P BSE Sensex plummeted nearly 1,000 points, hitting an intra-day low of 80,941.61, amid investor caution ahead of the US Federal Reserve's upcoming meeting. Key factors included a widening trade deficit of $37.8 billion and poor performance from heavyweight stocks like Reliance Industries and HDFC Bank. Despite the overall decline, midcap and smallcap stocks showed slightly better resilience, with only minor losses.

GQG shares drop 15 percent after UBS downgrades stock and target price

Shares of GQG Partners, a major investor in Adani Group, plummeted over 15% after UBS downgraded the stock from “buy” to “neutral” and cut its target price from AU$3.30 to AU$2.30. This marks UBS's first downgrade since it began covering GQG in 2022. Following a significant drop after Adani Group Chair Gautam Adani was charged with fraud, GQG is reviewing its investments, noting that over 90% of client assets are in unrelated issuers.

Indian markets gain momentum as foreign flows support positive sentiment

Indian equity markets showed moderate gains on November 28, with the BSE Sensex up 146 points at 80,380 and the NSE Nifty rising 55 points to 24,330, buoyed by positive FII flows following recent state election results. Market breadth was favorable, with 2,427 shares advancing against 719 declining. Kranthi Bathini from WealthMills Securities noted a positive trend, with Nifty consolidating near 24,500, while Adani Enterprises led gains, surging over 4 percent.

GQG share price falls amid Adani bribery charges and market concerns

GQG Partners' share price has fallen significantly following bribery charges against Gautam Adani and other executives, raising concerns about the firm's investments in Adani Group companies. Despite holding substantial stakes, GQG claims over 90% of client assets are in unrelated issuers. The long-term impact on GQG's reputation and fundraising efforts remains uncertain, prompting a reassessment of their trading strategy.
04:55 28.11.2024

Nifty closes above 24250 driven by gains in auto and energy sectors

The Nifty 50 index rebounded on November 27, closing above 24,250, driven by gains in auto, energy, metal, and media sectors. After a flat opening and rangebound trading, the index surged past 24,350 before some selling pressure emerged. Notable gainers included Adani Enterprises and NTPC, while Apollo Hospitals and Titan Company were among the losers. Broader indices also performed well, with the Nifty Midcap rising 0.6% and the Nifty Smallcap up 1.3%.

markets decline as auto and energy stocks weigh on gains

The Nifty and Sensex reversed gains after a strong opening, closing lower due to declines in auto and energy stocks. The Sensex fell by 147.14 points to 79,962.71, while the Nifty dropped 39.40 points to 24,182.50, amid concerns over earnings and a lack of positive market triggers. Despite a significant influx of foreign institutional investment, experts caution that the recent rally may not be sustainable.
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