April 14, 2021

Indian & World Live Breaking News Coverage And Updates

Indian & World Live Breaking News Coverage And Updates

MARKET LIVE: Indices set to open gap-down; Heranba Industries to list today

Share This :

LIVE market updates: The Indian are set to open gap-down for the second straight session on Friday amid feeble global cues as rising US Treasury yields again rattled equity investors. Besides, a jump in crude could add to the selling pressure.

New listing

Heranba Industries is slated to list its shares on bourses today. The issue price has been fixed at Rs 627 per share. The issue was subscribed 83 times, with the retail investors portion getting subscribed 11 times.

US stocks had dropped sharply on Thursday after Federal Reserve Chair Jerome Powell disappointed some investors by not indicating that the Fed might step up purchases of long-term bonds to hold down longer-term interest rates. The tech-heavy Nasdaq tumbled 2.1 per cent, the Dow Jones fell 1.1 per cent, while the lost 1.34 per cent. 

Bond investors with a bearish view of Treasuries took heart in Powell’s remarks and sold the notes. The yield on 10-year Treasuries climbed above 1.5 per cent to as high as 1.5727 per cent, but still below a one-year high of 1.614 per cent struck last week.

Asian stocks, too, skidded on Friday. In early trade, Australian stocks shed 1 per cent, Japan’s lost 0.7 per cent, and shares in Seoul fell 0.24 per cent.
Energy were not spared the volatility either, with surging more than 5 per cent overnight to their highest in over a year, after OPEC and its allies agreed to keep production unchanged into April. Brent crude was last trading at $66.84 a barrel.

(with inputs from Reuters)

Source link

Share This :