Indian government bond yields are expected to climb on Wednesday, with the benchmark bond yield set to test levels seen before the budget announcement, as Treasury yields jumped after an uptick in inflation further pushed back rate cut hopes.
India’s benchmark 10-year yield is expected to fluctuate in the 7.10-7.16% range, following its previous close of 7.0998%. “This is exactly what traders were fearing, and with the 10-year U.S. yield hitting the 4.30% mark, there should be a gap-up opening for Indian bond yields, as the global scenario can definitely be not ignored despite favourable local fundamentals,” the trader said.
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GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a positive opening on Friday. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty traded up by 53.50 points or 0.22% at 24,189.50 indicating a positive opening for domestic indices NSE Nifty 50 and BSE Sensex on Friday. Previously, on Thursday, the NSE Nifty 50 ended up by 175.70 points or 0.74% to settle at 24,044.50 while the BSE Sensex gained 568.93 points or 0.72% to 79,243.18.
“The benchmark indices exhibited bullish momentum, buoyed by expected revival in the IT sector and consolidation in the cement industry. However, the broader market remained sideways due to valuation concerns and FII selling owing to rising US bond yields,” said Vinod Nair, Head of Research, Geojit Financial Services.
Stocks To Watch: Nykaa, Ambuja Cement, Adani Power, Wipro, Bharti Airtel, Jain Irrigation Stocks To Watch: Zomato, Reliance Industries, L…
TBO Tek IPO opened for retail investors on May 08 at a price band of Rs 875 to Rs 920 per equity share.
About TBO Tek
TBO Tek is a travel distribution platform offering travel inventory according to customers’ needs and supports a wide range of currencies along with forex help. The company was earlier known by the name of Tek Travels Pvt. Ltd. The company’s main job is to simplify the travel business of suppliers such as airlines, car rentals, hotels, cruises, insurance, and others. They also cater their services to retail customers such as travel agencies and independent travel consultants. TBO Tek has a two-sided technology platform that connects suppliers and customers.
Issue Size
The company wants to raise a total of Rs 1,550.81 crore through a combination of fresh issue and an offer for sale.
Market rally leads to higher regulatory fees for stock exchanges Brand…