Trends in the SGX Nifty indicate that the broader Indian markets will open negatively. The BSE Sensex closed at 61,294, gaining 126 points, while the Nifty50 rose by 35 points to reach 18,232. In the Asia-Pacific region, shares traded mixed as investors awaited the meeting minutes for December from the Federal Reserve.
On the first trading day of 2023, Wall Street’s main indices closed lower. Tesla and Apple were the biggest drags, and investors expressed concerns about the Federal Reserve’s interest-rate hiking path. The Dow Jones Industrial Average fell by 10.88 points (or 0.03 percent), the S&P 500 lost 15.36 points (or 0.40 percent), and the Nasdaq Composite dropped 79.50 points (or 0.76 percent).
In news related to specific stocks:
– Reliance Industries’ FMCG arm, Reliance Consumer Products Limited, will acquire a 50% stake in Sosyo Hajoori Beverages Private Limited, which owns the beverage business under the brand ‘Sosyo’.
– Vedanta reported a decrease in alumina production at its Lanjigarh refinery due to maintenance activities, while mined metal production increased. Zinc production in the international business also saw growth.
– Punjab National Bank has increased the interest rate of fixed deposits to attract more deposits.
– The domestic air passenger traffic for InterGlobe Aviation and SpiceJet in December surpassed pre-Covid levels.
– State Bank of India plans to raise Rs 10,000 crore through infrastructure bonds to fund credit growth.
– Radiant Cash Management IPO will be listed today.
– Larsen & Toubro’s water and effluent treatment business has secured repeat orders for lift irrigation projects in Madhya Pradesh.
– Avenue Supermarts, the owner of DMart, reported a 24.7% rise in revenue from operations for the October-December quarter.