Towards the end of 2023 there was a significant increase in M&A activity in the Australian sharemarket. In IML’s small and mid-cap funds an incredible nine of our holdings received takeover offers in this period, including A2B (ASX: A2B), InvoCare (ASX: IVC), Probiotec (ASX: PBP), Symbo and Adbri (ASX: ABC)..
"We expect market sentiment to strengthen further as the prospect of a pre-election rally is quite strong," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal.
The rupee depreciated 4 paise to 83.12 against the US dollar in early trade on Wednesday, tracking a negative trend in domestic equities. Forex traders said the strength of the American currency and elevated crude oil prices in the international market dented investors sentiments.
The rupee declined marginally to 83.01 against the US dollar in early trade on Tuesday amid a muted trend in domestic equities. A stronger American currency and elevated crude oil prices also dented sentiments.