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NEW DELHI: Nifty saw a choppy trade in intraday session on Wednesday as the headline index closed lower for the fifth consecutive session. The 50-pack index formed a long bearish candle on the daily chart.
Ruchit Jain, Senior Analyst - Technical and Derivatives at Angel Broking said, Nifty has ended around 14,700, which is a crucial point now and a breach of this could then lead to a continuation of price-wise correction towards 14,500. On the flipside, 14,850-14,900 becomes the immediate hurdle now.
“The Indian market remained in negative territory as investors traded cautiously ahead of the US Fed meeting coupled with a resurgence in Covid cases. Adding to that, the rise in international crude prices is also dragging the Indian market. On a consensus basis, an accommodative policy is expected by the Fed, which will help the global market to stabilize, said Vinod Nair, Head of Research at Geojit Financial Services.
US stocks fall as growth stocks slide
US stock indexes fell on Monday as climbing Treasury yields and prospects of rising inflation triggered valuation concerns, hitting shares of high-flying growth companies. Shares of Apple Inc, Microsoft Corp, Facebook Inc, Alphabet Inc, Tesla Inc, Netflix Inc and Amazon.com Inc resumed a fall from the previous week, falling between 0.6% and 2.1% in early trading. The Dow Jones Industrial Average was down 142.78 points, or 0.45%, at 31,351.54, the S&P 500 was down 23.54 points, or 0.60%, at 3,883.17 and the Nasdaq Composite was down 165.59 points, or 1.19%, at 13,708.88.
European shares drop on inflation risk concerns
European shares fell nearly 1% on Monday as hopes of a vaccine-led global economic recovery fuelled a rally in commodities and raised concerns over the risk of higher inflation. The pan-European STOXX 600 index was on course for its worst day this month, led by declines in technology companies and retail stocks.
ICICI Direct is bullish on Dhampur Sugar has recommended buy rating on the stock with a target price of Rs 210 in its research report dated February 06, 2021.
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Article by Vijay Pal Dalmia, Advocate, Supreme
Court of India and Delhi High Court, Partner & Head of
Intellectual Property Laws Division, Vaish Associates Advocates,
India
Cryptocurrencies have been subjected to the spotlight of the
decade and have been grabbing the attention of the tax authorities
essentially due to the high prices at which they were seen trading
on exchanges in India and across the globe and the regulatory
mechanism of taxation has to be determined looking at the current
legal landscape.
The Constitution of India under Article 246 grants the power to
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NEW DELHI: Most seasoned investors saw their portfolio values swell in the Covid year. Against a 15 per cent rise in the Sensex for the year, ace investor Ashish Kacholia’s portfolio value surged 75 per cent, Ashish Dhawan’s climbed 65 per cent, and Vijay Kedia’s 31 per cent.
Rakesh Jhunjhunwala, often referred to as the Big Bull of Dalal Street, saw his portfolio value rise 23 per cent for the year. Dolly Khanna’s portfolio value grew 12 per cent, but Anil Kumar Goel’s portfolio saw a 28 per cent dip, data compiled from publicly available Trendlyne database showed.
Kacholia emerged the biggest gainer among the aforementioned investors. His equity portfolio was valued at Rs 1,015 crore as of December 31, 2020, compared with Rs 583 crore on December 31, 2019, up 74 per cent.