March 4, 2022

Sensex, Nifty and Bank Nifty are all bullish today!

• BSE Sensex is up by 1,335.05  points (+2.25%), a closing price of 60,611.74

• Nifty 50 rose by almost 382.95 points (+2.17%), closing price landed at 18,053.40

• Bank Nifty gets a boost of 1,486.70 points (+4.00%), closing price at 38,635.20

All Nifty sectoral indices landed in the green today with Nifty Bank rising the most with a surge of 4% and Nifty Private Bank with a rise of 3.94%.

BSE midcap and smallcap indices gained 1.27% and 1.68% each.

Top Stocks On Encome.io Dashboard:

News Wrap:

Big News:

FIIs take back a record of $13.7 bn from India investments during the December quarter.

What does FII mean? A foreign institutional investor (FII) is an investor or investment fund investing in a country outside of the one in which it is registered or headquartered.

A foreign direct investment (FDI) is an investment made by a firm or individual in one country into business interests located in another country. Foreign portfolio investment (FPI) instead refers to investments made in securities and other financial assets issued in another country.

The FDI’s and FPI’s combined- made a record net of $13.7 billion as profits from their investments in India during December’21 quarter even as fresh FDI investments were just about $ 5 billion.FPIs pulled out their investments in India, an analysis of the latest balance of payments numbers indicate.

IPO Alert:

Eighty Jewellers Limited IPO.

The company operates on a B2B business model, selling jewellery products to a sub-franchisee store at Korba.

Requirement of Funds and Utilization of Net Proceeds:

• To meet Working Capital requirements.

• General Corporate Purpose.

The Eighty Jewellers IPO open date is Mar 31, 2022, and the close date is Apr 5, 2022. The issue may be listed on Apr 13, 2022.

The Eighty Jewellers IPO market lot size is 3000 shares. A retail-individual investor can apply for up to 1 lot (3000 shares or ₹123,000).

More to know:

• India's trade deficit rises 88 pc in FY22

• Deepak Parekh to step aside after the HDFC-HDFC Bank merger is consummated.

• Sebi issues fresh guidelines to curb misuse of clients' Power of Attorney.

• Vinay Mohan Kwatra India's new Foreign Secretary: Govt.

• The 10-year bond yield to soon cross 7%; the bloodbath in the market shows a struggle with supply