News Wrap: Rupee At An All-Time Low; Aadhar Housing Gets Approval From SEBI; Bitcoin's Value Shrinks; Jet Airways To Start Commercial Operations
May 9, 2022
Sensex and Nifty 50 are bearish today!
BSE Sensex is down by 364.91 points (-0.67%), a closing price of 54,470.67
Nifty 50 plunged by almost 109.40 points (-0.67%), closing price landed at 16,301.85
Bank Nifty dropped by 315.80 points (-0.91%), a closing price of 34,275.40
Except for Nifty IT, all the sectoral indices landed on the bearish side with Nifty FMCG, Media and Realty ranging between 1 - 2%
BSE midcap and smallcap indices both plunged by 1.89% and 1.67% each.
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Rupee Hits An All-time Low Today!
The rupee fell even lower on Monday, closing at 77.44, after breaking the previous low of 77.05 earlier in the session, as the dollar's rally sliced across markets.
According to PTI, the Indian rupee fell 54 paise to a new record low of 77.44 versus the US dollar, down from 76.90.
The rupee began down versus the greenback on the interbank foreign currency market, at 77.17, and fell to a lifetime low of 77.52 throughout the trading day. Risk appetite has diminished, according to forex traders, as inflation fears grow, likely spurring more aggressive rate rises by global central banks.
Asian stock markets were down on Monday, with US stock futures falling on worries of additional Fed policy tightening and a severe lockdown in Shanghai weighing on the global economy.
Aadhar Housing’s IPO Get An Approval From SEBI
Blackstone-backed Aadhar Housing Finance Ltd gained clearance from the Securities and Exchange Board of India (SEBI) to raise funds via an initial public offering after 15 months of filing draught papers.
On January 24, 2021, the business submitted draught paperwork with SEBI, however, the matter was held up for unclear reasons. Another regulatory authority's answer is pending, according to the regulator. However, neither the identity of the other regulatory authority nor the information sought from that agency was provided on SEBI's website.
According to the draft papers, Aadhar Housing intends to issue new shares worth Rs 1,500 crore through the IPO, while Blackstone intends to sell existing shares worth Rs 5,800 crore. Blackstone did not say how much of its interest it planned to sell.
More To Know:
Morgan Stanley, a global investment bank, has predicted that Reliance Industries would reach a $20 billion EBITDA run rate turning point.
The Life Insurance Corporation (LIC) of India's first public offering garnered a strong response from investors, with the offer being subscribed 2.89 times on the final day.
The average monthly retail price of wheat flour (atta) has nearly doubled in the last year, reaching Rs 32.3 per kg. Prices are at their highest level since January 2010.
Adani Airport Holdings Ltd (AAHL) has received $250 million in investment from a consortium led by Standard Chartered and Barclays Bank, with the option to raise an additional $200 million.
Bitcoin's value continued to decline over the weekend, falling below $34,000, according to the Coinbase cryptocurrency exchange.
Jet Airways has received security clearance from the Ministry of Home Affairs to restart commercial operations in the nation in the coming months.