Mon, Jan 25, 2021 10:20 AM
Bitcoin's return to $40,000 is doubtful as Grayscale Fund flows retards
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New Delhi, Shares of Life Insurance Corporation (LIC) on Wednesday jumped more than 6 per cent after the firm said Sebi has granted an additional 3-year time till May 16, 2027, to comply with the 10 per cent public shareholding norm. The stock rallied 6.31% to settle at Rs 989.80 apiece on the BSE. During the day, it climbed 7.31% to Rs 999.15. On the NSE, it jumped 6.33% to Rs 990 per share.
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Federal Reserve Bank of New York President John Williams said the latest US inflation data confirm price pressures are gradually easing but he still needs more evidence to adjust interest rates. Fed officials have pushed out expectations for the first interest-rate cut, emphasizing a need to keep borrowing costs elevated for longer amid disappointing inflation prints in the first quarter.
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RBI on May 16 bought back government securities worth Rs 2,069.999 crore, sharply lower than the notified amount of Rs 60k crore. On May 10, the central bank said it would buy back Rs 60k crore worth of government securities on May 16. The securities offered for buyback were 6.18% GS 2024, 9.15% GS 2024 and 6.89% GS 2025, maturing on November 4, November 14, and January 16, the central bank said.
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