Wed, Apr 24, 2024 12:35 PM
Cyient DLM shares zoom 13% on solid Q4 results led by defence & aerospace
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Equity indices retreated from a record high on Friday as investors resorted to profit booking. The 30-share Sensex dropped 733 points to settle at 73,878 and Nifty declined 172 points to 22,475. Stocks that were in focus include names like CEAT, which fell 2.93%, Coforge, which was down 10.03%, and ABFRL, whose shares dropped 3.43% on Friday.
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Asian stocks rose on Monday on renewed bets that the Federal Reserve would likely ease rates this year, while the yen weakened after a strong surge last week from Tokyo's suspected currency intervention. Trading was thinned in Asia with Japan out for a holiday, though markets in mainland China got off to an upbeat start after returning from an extended break.
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Oil steadied after the biggest weekly drop since February as Saudi Arabia hiked selling prices for grades to Asia for the third month in a row, signaling confidence in the outlook with the OPEC+ cartel cutting supply. Brent crude held above $83 a barrel after slumping more than 7% last week to post the biggest decline since February. West Texas Intermediate was near $78.
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