Sat, Apr 27, 2024 3:03 PM
Bitcoin Faces 'Second Danger Zone' As Analyst Warns Of Potential Downside
A Flip by Riya Sharma
State ownership in listed firms, in terms of the value of shares held, surged to a seven-year high of 10.38% of total market capitalisation as of March 31, driven by a robust rally in several public sector unit (PSU) stocks. The value had touched a high of 22% of total market capitalisation of listed firms in June 2009, dropping to a low of 5.1% in September 2020.
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The Dow Jones Industrial Average ended higher on Wednesday, stretching its winning streak to six straight sessions and closing above 39,000 points for the first time in five weeks, as investors kept betting on supportive U.S. monetary policy. The other Wall Street benchmarks cooled a touch as momentum stalled and U.S. Treasury yields rose on the day of a 10-year notes auction.
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Asian bonds fell early Thursday, echoing selling pressure in Treasuries in the prior session that supported the dollar. Equities in the region opened mixed after a flat day on Wall Street. The 10-year benchmarks for Australia and New Zealand rose by around four basis points, mirroring the increase in Treasury yields of the same maturity Wednesday.
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