Day: June 13, 2022

Bitcoin slumps below $23,000; what has been the impact of big crypto meltdown?

Bitcoin tumbled Monday to an 18-month low under $23,000 in a broad cryptocurrency crash, as investors shunned risky assets in the face of a vicious global markets selloff, just seven months after the virtual unit surged to a record high. WazirX India’s Raj Menon shares the impact of big crypto meltdown. Menon shared shocking transaction …

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Manic Monday in markets: How should retail investors cope with this situation

Equity investors became poorer by over Rs 9.75 lakh crore in two days of heavy decline in the equity market, with the Sensex plunging 1,457 points on Monday. In line with weak trend in equities, the market capitalisation of BSE-listed firms eroded by Rs 9,75,889.77 crore to Rs 2,45,19,673.44 crore in two days. Deven Choksey …

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Wall Street floats 100 basis-point Fed hike as inflation stings

Pockets of Wall Street are raising the possibility that the Federal Reserve could go to extreme lengths on Wednesday in an attempt to control the hottest US inflation in four decades. While the consensus expectation for the US central bank’s interest rate increase at this week’s meeting is a half-percentage point, higher than expected consumer …

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NSEL case: ED attaches defaulter’s property in Dubai

The Enforcement Directorate has attached a property worth ₹25 crore (1.27 crore Dhirhams) owned by one of the biggest defaulters of National Spot Exchange — Kailash Kumar Aggarwal and his son Anubhav Aggarwal — the directors of ARK Imports. The attached property of the defaulter include a 622.44 sq.mt plot at Palm Jumeirah, Dubai. Ludhiana-based …

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Huge selloff rocks Treasury markets, yield curve inverts

U.S. two-year Treasury yields rose above 10-year borrowing costs on Monday — the so-called curve inversion that often heralds economic recession — on expectations interest rates may rise faster and further than anticipated. Fears that the U.S. Federal Reserve could opt for an even larger rate hike than anticipated this week to contain inflation sent …

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Domestic steel prices fall ₹12,000 per tonne; steepest in 6 months

Domestic steel prices have taken a tumble by ₹12,000, to ₹15,000 per tonne, specially for June deliveries, down 14–20 per cent month-on-month. This is amongst the steepest fall that domestic steel prices have witnessed over the last five to six months. Poor demand, stock pile-up and a drop in iron-ore prices, apart from the overhang …

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IIFL Home Fin eyes IPO; looks to raise Rs 5,000 cr via direct assignment

IIFL Home Finance plans to raise between Rs 4,000-5,000 crore through direct assignment (a form of securitisation) of housing loans and scale up funding to developers, especially those complying with green finance norms. HFC, which raised Rs 2,200 crore in equity funding from Abu Dhabi Investment Authority (ADIA) early this month, …

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Crude oil likely to remain volatile ahead of US Fed meeting; $110-125 per barrel range eyed

New Delhi: Crude oil and gasoline prices have been a hot topic for almost everyone recently as the basket of crude oil that India buys has hit a decade high of $121 per barrel. Last week the international oil prices hit near a 13-week high, underpinned by robust demand from key buyers like the US. …

Crude oil likely to remain volatile ahead of US Fed meeting; $110-125 per barrel range eyed Read More »

This market needs to get close to 14,000 but expect an intermediate bounce: Jai Bala

“These days fund managers are diversified into even cryptos, they come back to offset the losses sustained in the crypto markets in other asset classes. So, that way, it has a little bit of spillover effect,” says Jai Bala, Chief Market Technician, Cashthechaos.com. Just wondering when is this selling going to stall and unfortunately, US …

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