Market (Page 2)

plunged more than 19 per cent to a one-week low on Monday, putting the on track for its biggest one-day drop since March as its recent red-hot rally hit the buffers.


and other digital coins tanked on Monday, wiping some $200 billion off the market.



slumped $30,699, its lowest since January 5, after extending earlier losses in Asian trading hours and was last down 15 per cent at $32,675.


If sustained, the one-day drop would be the biggest since Covid-19 caused chaos in financial in March.


The falls reflect a wider dollar bounce against major fiat currencies as the prospect of higher US interest rates tempers popular bets against the dollar.


Second-biggest ethereum which often moves in tandem with bitcoin, fell as much as 23 per cent to a one-week low of $985.


Seven of the top-10 most valued Indian firms together added Rs 1,37,396.66 crore in last week, with (TCS) emerging as the biggest gainer.


Besides TCS, other winners on the top-10 chart were HDFC Bank, Limited (HUL), Infosys, HDFC, ICICI Bank and Bharti Airtel.



In contrast, Limited (RIL), Kotak Mahindra Bank and Bajaj Finance registered decline in their market capitalisation (m-cap).


The valuation of rose by Rs 72,102.07 crore to Rs 11,70,875.36 crore, while industry peer Infosys added Rs 21,894.28 crore to reach Rs 5,58,772.73 crore m-cap.


HDFC gained Rs 15,076.62 crore to take its valuation to Rs 4,77,663.03 crore, Bharti Airtel jumped by Rs 13,720.73 crore to Rs 2,94,736.49 crore, ICICI Bank added Rs 10,054.48 crore to Rs 3,74,253.88 crore, HDFC Bank’s m-cap moved up by Rs


Resources launched an open offer for a 10% stake in its India unit, two months after a failed delisting attempt for Ltd.


The London-based parent of Mumbai-listed Ltd. will buy as many as 371.75 million shares, comprising 10% of the outstanding equity of the Indian unit, according to an exchange filing Saturday.



The open offer, which will be managed by JPMorgan Chase & Co.’s India unit, will be a voluntary open offer, with no minimum level of acceptance by Vedanta, according to the filing. If Vedanta Ltd. holders were to accept share tenders for the entire 10%, the consideration for the deal would be Rs 5,948 crore ($812 million).

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Buoyed by global cues, the benchmark indices rose on Friday, marking their tenth successive week of gains, the longest such streak since June 2009. The benchmark Sensex gained 689 points, or 1.43 per cent, reaching a fresh record of 48,782 points, and the Nifty rose by 210 points to end the session at a record 14,347.


Optimism surrounding the roll out of vaccines and hopes of more stimulus in the United States of America aided the rally. Investors seems to have been enthused by the roll out of Covid-19 vaccination drive in India and the formal confirmation of as the US president, with the Democratic Party gaining a majority in the Senate, which stoked hopes of more stimulus from the



across the globe also rose ahead of a key job’s data report. Forecasts have shown

The total market value of cryptocurrencies surpassed $1 trillion for the first time Thursday amid a frenzied and volatile rally in to yet another record.


Cryptocurrencies hit the milestone after a fivefold climb in market value in the past year, data from tracker CoinGecko shows. Strategists have cited demand from speculative retail traders, trend-following quant funds, the rich and even institutional investors as among the reasons for the surge.



rose as much as 5 per cent on Thursday to touch a high of $37,802 and has more than quadrupled in the past year, according to a composite of prices compiled by Bloomberg. It accounts for about two-thirds of market value, followed by Ether at about 13%, according to CoinGecko data.


Digital coins are jumping in a world awash with fiscal and monetary stimulus, even as some commentators fear an inevitable


Snapping its 10-session rising streak, equity benchmark Sensex tumbled 264 points on Wednesday as investors booked profits in Reliance Industries, as well as IT, finance and FMCG stocks amid mixed global cues.


However, a recovering rupee and sustained foreign fund inflows restricted the fall, traders said.


After touching its record intra-day high of 48,616.66 in early trade, the 30-share BSE index pared all gains to end 263.72 points or 0.54 per cent lower at 48,174.06.


Similarly, the broader NSE Nifty fell 53.25 points or 0.38 per cent to 14,146.25. It touched a record peak of 14,244.15 during the day.


ITC was the top laggard in the Sensex pack, shedding 2.86 per cent, followed by Reliance Industries, Bajaj Finance, Axis Bank, HCL Tech and HUL. On the other hand, PowerGrid, Bharti Airtel, ONGC, UltraTech Cement and ICICI Bank were among the