Nifty to open below 15,000 amidst weak global cues
March 05, 2021
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Most Asia-Pacific markets slumped in excess of 1% in early trade on Friday while US stocks declined overnight
The Indian markets are likely to open sharply lower on Friday, due to weak global cues and on profit booking. Cues from SGX Nifty suggest that Nifty is most likely to open below 15,000-mark. The SGX Nifty is hovering around 14,880, a decline of about 220 points, against the Nifty futures that on Thursday closed at 15,106.
Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities, said: “We witnessed a sharp decline (on Thursday) in our market mainly due to the sudden jump in the long-term bond yields of the US. The steady growth in the economy leads to a steady rise in the bond yields and therefore, the market should start offering discounts in the medium to long term.”
Nifty, Sensex will follow global cues on tech stocks and inflation – Weekly closing report
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Laurus Labs falls 5% as promoters sell 1 3% stake in company
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Laurus Labs Ltd s promoters have sold shares to release pledge on shares
Posted On: 2021-03-04 04:56:43 (Time Zone: Arizona, USA)
Laurus Labs Ltd. (Laurus BSE: 540222, NSE: LAURUSLABS, ISIN: INE947Q01028), a leading research & development-driven and fully integrated pharmaceutical Company in India, announced that Dr.Satyanarayana Chava, Founder Promoter, CEO & ED, sold 52 lakh equity shares of the Company today in the stock market at an average price of INR.368.59, per share, aggregating to INR 191.67 Crores and Mrs. Nagarani Chava, one of the promoters of the company sold 18 Lakh equity shares of the Company at an average price of 366.91 per share at an aggregate value of INR 66.04 Crores, together 1.3% of the paid up capital of the Company.
Nifty, Sensex may move sideways until the US market ends its sharp downturn – Thursday closing report
Moneylife Digital Team
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We had mentioned in Wednesday’s closing report that Nifty, Sensex to log in more gains. On Thursday, the indices opened lower and rallied but still ended in the red. On the NSE, there were 1,022 advances, 862 declines and 85 unchanged.
The trends of the major indices in the course of Thursday’s trading are given in the table below:
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