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Agencies Fed Chairman Jerome Powell s testimony before the US Congress, month expiry of derivative contracts and Reliance Industries 44th annual general meeting kept the volatility high across the bourses. New Delhi: The domestic equity market witnessed a volatile week in which benchmark indices managed to end up with gains. Both BSE Sensex and NSE Nifty gained as much as a percent each, thanks to buying in IT, metal and capital goods counters. The market continued to witness whipsaws this week, but remained within range as the broader sentiment showed restraint given the absence of any significant developments across both macros and company-specific domains. ....
The Delhi High Court on Monday stayed its single-judge direction to Future Retail Ltd (FRL) and various statutory authorities to maintain the status quo with regard to the Rs 24,713-crore deal with Reliance Retail in a setback for Jeff Bezos-led e-commerce giant Amazon, which has challenged the transaction. A division Bench of Chief Justice D N Patel and Justice Jyoti Singh was hearing the appeal filed by FRL against the court s order passed last week. The court had said it was satisfied that an immediate interim order was required to be passed to protect the rights of Amazon. On Monday, the division Bench noted that FRL was not a party to an arbitration agreement with Amazon and prima facie the “group of companies” doctrine could not be invoked in the present case as the three agreements Future Retail Shareholding Agreement (SHA), Future Coupons Pvt Ltd (FCPL) SHA, and FCPL Share Subscription Agreement were distinct in nature, according to law platform Bar & Be ....