Stock Market LIVE: Indices flat at open; IT, Auto drag; FMCG, Energy jump


Markets worry that Fed’s monetary tightening to combat stubbornly high price rises could induce an economic downturn in 2023. The RBI will come out with its bi-monthly policy review today at the end of the three-day meeting of the MPC.

07 Dec 2022, 09:58:57 AM IST

Rupee falls 25 paise to 82.75 against US dollar in early trade

The rupee depreciated 25 paise to 82.75 against the US dollar in early trade on Wednesday, tracking muted domestic equities ahead of the Reserve Bank of India’s monetary policy decision.

Forex traders said dollar demand in the overseas market and foreign fund outflows weighed on investor sentiments.

At the interbank foreign exchange, the domestic unit opened at 82.74 against the dollar, then edged lower to 82.75, registering a loss of 25 paise over its previous close.

On Tuesday, the rupee declined by 65 paise to close at an over-one-month low of 82.50 against the US dollar. (PTI)

07 Dec 2022, 09:58:32 AM IST

BPCL jumps 2% and pushes the Oil & Gas index into green

BPCL

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BPCL
07 Dec 2022, 09:41:52 AM IST

GMR, NIIF join hands to invest ₹6.31 billion in three airports

GMR Airports Limited (GAL) and National Investment and Infrastructure Fund (NIIF) have announced a financial partnership for NIIF to invest in the equity capital of three airport projects. This would be NIIF’s first direct investment in the state of Goa as well as its first investment in an airport asset in the nation.

These include the greenfield international airports at Mopa, Goa and Bhogapuram, Andhra Pradesh. The transaction envisages NIIF making a primary investment of INR 6.31 billion in the form of Compulsory Convertible Debenture (CCD) in GMR Goa International Airport Limited (GGIAL), a special purpose vehicle to run and operate the New Goa Airport. The transaction is subject to customary completion conditions & necessary approvals. (Read More)

07 Dec 2022, 09:34:49 AM IST

IT index continues its downward spiral for the second day; all stocks in red

IT Index

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IT Index
07 Dec 2022, 09:30:31 AM IST

China November trade sinks under virus pressure, rate hikes

China’s imports and exports shrank in November as global demand weakened and anti-virus controls weighed on the second-largest economy.

Exports sank 9% from a year earlier to $296.1 billion, worsening from October’s 0.9% decline, customs data showed Wednesday. Imports fell 10.9% to $226.2 billion, down from the previous month’s 0.7% retreat.

The country’s global trade surplus narrowed by 2.5% from a year earlier to $69.9 billion.

Chinese trade was forecast to weaken as global demand cooled following interest rate hikes by the Federal Reserve and central banks in Europe and Asia to rein in surging inflation. (AP)

07 Dec 2022, 09:24:34 AM IST

ONGC under pressure in early trading, drops 1%

ONGC

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ONGC
07 Dec 2022, 09:22:41 AM IST

Nomura’s crypto arm seeks profit in two years in shakeout after FTX crisis

Nomura Holdings Inc. plans to break a profit at its crypto unit within two years as the spectacular failure of Sam Bankman-Fried’s FTX exchange spurs demand for safer counterparties in the digital-asset sector.

The unit, Laser Digital, will leverage the backing of the Tokyo-based investment bank to win over institutional investors and plans to add 50 employees by March, its Chief Executive Officer Jez Mohideen said. It’s now easier to hire talent and acquire assets at a lower valuation, he said, adding that the firm has tightened risk management. (Read More)

07 Dec 2022, 09:15:28 AM IST

Geojit Financial Services views on today’s market: Investors can buy high-quality stocks in capital goods and cement at current levels

Dr V K Vijayakumar, chief investment strategist at Geojit Financial Services: The near-term cues have turned negative once again with weakness in the mother market, the US. Talks of a longer-than-expected recession have again surfaced and negative comments from influential voices like that of Jamie Dimon are impacting sentiments. In such a scenario there are no positive triggers that can take the market much higher from here. Since India’s growth resilience looks impressive…



Read More: Stock Market LIVE: Indices flat at open; IT, Auto drag; FMCG, Energy jump

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