News Briefs 25-09-2021

NAV of CAPM Unit Fund

CAPM Company Limited has declared the Net Asset Value (NAV) of CAPM Unit Fund. The total NAV of CAPM Unit Fund stood at Tk 164,307,140.01 on the basis of cost price and Tk 188,331,166.16 on the basis of market price at the close of the operations on September 23. The NAV per unit at cost price and market price of the fund are Tk 111.68 and Tk 128.01 respectively against the face value of Tk 100 per unit. Per unit subscription and surrender prices of the CAPM Unit Fund have been re-fixed at Tk 128.01 and Tk 127.61 respectively. The prices will remain valid from September 26 until announcement of the next NAV.

— Statement

Sensex crosses 60,000 mark

BENGALURU, Sept 24: India's benchmark Sensex crossed the 60,000 level for the first time on Friday, driven by tech and private bank stocks, as analysts pointed to easing fears over economic damage from a possible third COVID-19 wave. The blue-chip NSE Nifty 50 index rose 0.59 per cent to 17,928.95 by 0502 GMT, after hitting a record high earlier in the session, while the benchmark S&P BSE Sensex was up 0.67 per cent at 60,285.25. Indian shares were headed for their fifth straight weekly gain, as analysts said a quick-moving vaccination campaign had diminished fears of a further hit to the economy due to the pandemic. Concerns about the fallout from debt-ridden property developer China Evergrande were also somewhat mitigated, while a US Federal Reserve meeting did not throw up any surprises, said Narendra Solanki, head of equity research at Anand Rathi Investment Services. In Mumbai trading, tech stocks jumped as much as 2.7 per cent to a record high, with HCL Technologies rising over 3 per cent to be among the biggest gainers on the Nifty 50.

— Reuters

Kakao Pay pushes back $1.3 billion IPO to November

SEOUL, Sept 24: South Korean financial technology firm Kakao Pay Corp said on Friday it had decided to push back its planned initial public offering, worth as much as 1.5 trillion won ($1.28 billion), to November from October. The news comes a day before the revised Financial Consumer Protection Act fully goes into effect, requiring financial services platform apps like Kakao Pay to halt financial product comparison and recommendation services unless they register with the regulator or receive a licence or permission.

— Reuters