News Overview

Bandhan Mutual Fund is launching NFO under its “Thematic Fund”, named as Bandhan Innovation Fund. The open ended fund aims to generate long-term capital appreciation by investing predominantly in equity and equity-related instruments of companies following innovation theme.

Among the affected stocks were Balrampur Chini Mills, GNFC, Hindustan Copper, Idea, India Cements, Metropolis Healthcare, National Aluminium Company, Piramal Enterprises, and ZEEL.

In India, petrol and diesel pricing is influenced by factors such as freight charges, value-added tax (VAT), and local taxes.

Unlike the US, which consumes most of the oil it churns out, countries like Saudi Arabia, Iraq, Iran, and UAE are predominantly exporters and hence have a huge swing impact on global oil prices. The immediately impact will be the spreading of the conflict to the Arab Peninsula and to the Strait of Hormuz, a key conduit for the Asian oil and gas trade. Also, the Red Sea will continue to be point of conflict, forcing ships through the circuitous Horn of Africa route. That would obviously mean higher freight rates and higher insurance costs.

West Texas Intermediate (WTI) futures for May delivery were down 38 cents at $85.28 a barrel, while Brent futures for June delivery dropped 24 cents to $90.21 a barrel.

Spot gold was up 0.3% at $2,350.59 an ounce. On Friday, the price of gold reached a record high of 2,431.29.

Early in the Asian day, the dollar set a 34-year high against the yen and a five-month high against the euro on Friday.

On the nifty index, Divis Lab, Bajaj Auto, Tata Motors, TCS, and Nestle India were the top gainers on Friday.

The US Food and Drug Administration (USFDA) examined the company's Unit V plant in Visakhapatnam on April 8 and 12, and completed the audit with zero 483 observations.

With higher than expected inflation and ambiguous minutes, rate cuts may only happen by September 2024.