New Delhi: Stock market today, relief from tax cuts, market indices ended with a good rise on the last trading day of the week.
What is the stock of the situation?
Despite the mixed global market trends as the trade war between the US and China continues, market indices started trading with a rise yesterday.
Investors showed interest in buying stocks of all sectors after US President Trump temporarily suspended reciprocal taxes imposed on goods imported from countries other than China for 90 days. In particular, Trump announced that he would suspend the 26 percent tax imposed on India, which gave a boost to the market. Shares of metal-related companies rose by a maximum of more than 4 percent.
At the end of trading hours, Nifty and Sensex rose by 2 percent each. On a weekly basis, market indices ended with a decline for the second week. It is noteworthy that global markets traded with a decline yesterday as the US and China continued their trade war by increasing taxes alternately. The Indian stock market will be closed on Monday on the occasion of Ambedkar Jayanti.
Foreign Investment, Foreign investors sold shares worth Rs. 2,519 crore yesterday.
Crude Oil, Crude oil prices in the global market rose 0.32 percent to $63.53 per barrel yesterday.
Rupee value, Indian rupee rose 61 paise to $86.07 against the US dollar.
Is the boAt coming with IPO?
Mumbai-based Imagine Marketing, which manufactures and sells devices including earphones and digital watches under the brand name ‘Pod’, has filed a confidential application with the market regulator Sebi for a fresh share issue.
Founded in 2013, Imagine Marketing had earlier planned to issue fresh shares in 2022.
But that did not happen then. Now it has filed for the second IPO.
It is said to be planning to raise Rs 2,000 crore by selling Rs 1,100 crore of shares already held by investors, including Rs 900 crore through the sale of fresh shares.
Under the regular application, the IPO must come within 12 months of getting Sebi’s approval. Applying under the confidential application will give it up to 18 months to come to the IPO.
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