The author is a Reuters Breakingviews columnist. The opinions expressed are his own.
from Expert Zone:
(Any opinions expressed here are those of the author and not of Thomson Reuters)
The Nifty corrected sharply by about 2 percent for the week to close below the crucial 7,800 mark on heightened prospects of a U.S interest rate hike in the coming days. Sentiment was also hit after the rupee fell to its lowest level in more than two years as it headed towards 67 against the dollar. FIIs sold equities worth $382 million over the past five trading sessions while DIIs bought stocks worth $385 million.
The author is a Reuters Breakingviews columnist. The opinions here are his own.
Public stock-market investors have lassoed Square to tame the unicorn, that Silicon Valley species of private companies worth more than $1 billion. Jack Dorsey’s payments firm has priced at $9 a share, below the $11-to-$13-a-share range indicated two weeks ago. The company’s two-timing chief executive, rising competition and substantial losses provided ammunition for old-school mutual fund managers demanding big discounts to lofty private valuations.