Wed, Jul 3, 2024 9:42 AM
What is RBI’s Project Nexus which is set to bring a paradigm shift
A Flip by Riya Sharma
The total market cap of BSE-listed companies reached a record high of ₹450 lakh crore, driven by gains in major stocks such as 💰Reliance Industries, 💰SBI, and 💰Hindustan Unilever. The Sensex slipped 53 points to 79,997, while the Nifty edged up 22 points to 24,324. The market breadth favored advances, with an advance-decline ratio of 3:2, and pharma stocks attracting strong buying interest.
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Gold prices rose 0.4% to $2,364.87 per ounce, heading for a second straight weekly gain, driven by a weaker US dollar and expectations of Federal Reserve interest rate cuts. The US dollar is on track for a weekly decline, making gold more attractive to buyers. Market expectations suggest a 75% chance of a rate cut in September and another in December.
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Sebi has introduced new guidelines to enhance the ease of doing business for credit rating agencies, effective August 1, 2024. The changes mandate that CRAs communicate ratings to companies within one working day, with companies having three working days to appeal. Disclosures must be made on the CRA's website and stock exchange within 7 working days. Records must be maintained for 10 years.
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