Thu, May 12, 2022 12:55 PM
🔔ICICI Direct recommends to Sell GBPINR with a target price of ₹95.00
A Flip by Shambhavi
The number of smallcaps offering double-digit returns fell this week due to a broad-based correction in the domestic market. This was on the back of a cautious Fed, which kept the key rates unchanged, highlighting the concerns around inflation. During the week, only 29 smallcap stocks gained in double-digits with Newgen Software Tech being the top gainer from the pack, offering 27% returns.
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Wall Street surged to a higher close on Friday as a softer-than-expected employment report bolstered the case for rate cuts from the Federal Reserve while also providing evidence of U.S. economic resilience. All three major U.S. stock posted robust gains. The tech-heavy Nasdaq led the pack, rising 2% with an assist from Apple shares following the iPhone maker's record share buyback announcement.
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Securities and Exchange Board of India (SEBI) in its recent circular states that the nomination process for jointly held mutual fund accounts is now optional.Shares of JNK India Ltd got listed at a premium of 49% over issue price of ₹415.Groww AMC and Axis AMC have launched the NFOs for Groww Nifty Non Cyclical Consumer Index Fund and Axis Nifty Bank Index Fund.
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