Hi there, Good Morning. Welcome to ETMarkets Morning, the show about money, business and markets. I am Nikhil Agarwal. Let’s start with the headlines first.
– ZEE and Sony sign definitive agreements to merge companies
– US withdraws rule to amend H-1B process
– Tokenisation may hit ecommerce ops on Jan 1
Now lemme give you a quick glance on the state of the markets.
Asian stocks gained ground on Wednesday as the risk appetite of global investors rises heading into year-end, despite the surging number of Omicron variant cases around the world. MSCI’s index of Asia-Pacific shares outside Japan was up by 0.46 per cent.
Elsewhere, the yield on 10-year Treasuries was at 1.45%. The dollar edged down again in early Asia on Wednesday, starting a third successive session under pressure as investors favoured riskier currencies and asset classes.
That said, here’s what is making news.
Select stocks in telecom, energy, healthcare and media sectors have defied the descent of the market into the weak territory. Adani Total Gas, ABB India, Adani Green Energy, Zee Entertainment Enterprises, Aditya Birla Capital and Godrej Industries have gained 6-21% since October 19. Investors have also begun focusing more on healthcare and pharma space, with GlaxoSmithKline Pharmaceuticals, Max Healthcare Institute and Apollo Hospitals Enterprise gaining 13-20% during this period.
Nifty Bees, an exchange traded fund (ETF) that mimics the broad-based Nifty 50 index, saw the highest volume in its 20-year history at ₹205 crore on the National Stock Exchange (NSE) amid the market crash on Monday. The ETF managed by Nippon India Asset Management saw 88,117 trades, with 75% of the volume marked for delivery amidst a sharp correction in the Nifty 50 index by 2%.
Foreign portfolio investors (FPIs) are unwinding their positions in Indian financials stocks at a record pace amid concerns over the possible impact of the new coronavirus variant on the country’s economic growth. They have sold financial stocks worth $3.3 billion (Rs 24,600 crore) between October 15 and December 15 accounting for about 82% of the total outflows during the period, the data from NSDL show.
NOW Before I go, here is a look at some of the stocks buzzing this morning…
The board of directors at private sector Yes Bank Ltd have approved raising of funds through the issue of equity shares or depository receipts or debt instruments like convertible bonds, debentures, or warrants up to Rs 10,000 crore.
L&T Metro Rail that runs metro trains in Hyderabad is raising up to ₹13,600 crore through bonds and commercial papers, in one of the largest local debt fundraisings in the infrastructure space this year, ET reported.
The State Bank of India (SBI) on Tuesday has acquired a minority stake in JSW Cement Limited, with an investment of Rs 100 crore in the company via compulsorily convertible preference shares (CCPS).
Multi-business conglomerate ITC Ltd has raised its holding to 27.34 per cent in Delectable Technologies, a company that operates the Azgo app and vending machines selling snacks and other fast-moving consumer goods.
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Do also check out over two dozen stock recommendations for today’s trade from top analysts on ETMarkets.com.
That’s it for now. Stay with us for all the market news through the day. Happy investing!
Hi there, Good Morning. Welcome to ETMarkets Morning, the show about money, business and markets. I am Nikhil Agarwal. Let’s start with the headlines first.- ZEE and Sony sign definitive agreements to merge companies- US withdraws rule to amend H-1B process- Tokenisation may hit ecommerce ops on Jan 1Now lemme give you a quick glance on the state of the markets.Asian stocks gained ground on Wednesday as the risk appetite of global investors rises heading into year-end, despite the surging number of Omicron variant cases around the world. MSCI’s index of Asia-Pacific shares outside Japan was up by 0.46 per cent.Elsewhere, the yield on 10-year Treasuries was at 1.45%. The dollar edged down again in early Asia on Wednesday, starting a third successive session under pressure as investors favoured riskier currencies and asset classes.That said, here’s what is making news.Select stocks in telecom, energy, healthcare and media sectors have defied the descent of the market into the weak territory. Adani Total Gas, ABB India, Adani Green Energy, Zee Entertainment Enterprises, Aditya Birla Capital and Godrej Industries have gained 6-21% since October 19. Investors have also begun focusing more on healthcare and pharma space, with GlaxoSmithKline Pharmaceuticals, Max Healthcare Institute and Apollo Hospitals Enterprise gaining 13-20% during this period.Nifty Bees, an exchange traded fund (ETF) that mimics the broad-based Nifty 50 index, saw the highest volume in its 20-year history at ₹205 crore on the National Stock Exchange (NSE) amid the market crash on Monday. The ETF managed by Nippon India Asset Management saw 88,117 trades, with 75% of the volume marked for delivery amidst a sharp correction in the Nifty 50 index by 2%.Foreign portfolio investors (FPIs) are unwinding their positions in Indian financials stocks at a record pace amid concerns over the possible impact of the new coronavirus variant on the country’s economic growth. They have sold financial stocks worth $3.3 billion (Rs 24,600 crore) between October 15 and December 15 accounting for about 82% of the total outflows during the period, the data from NSDL show.NOW Before I go, here is a look at some of the stocks buzzing this morning…The board of directors at private sector Yes Bank Ltd have approved raising of funds through the issue of equity shares or depository receipts or debt instruments like convertible bonds, debentures, or warrants up to Rs 10,000 crore.L&T Metro Rail that runs metro trains in Hyderabad is raising up to ₹13,600 crore through bonds and commercial papers, in one of the largest local debt fundraisings in the infrastructure space this year, ET reported.The State Bank of India (SBI) on Tuesday has acquired a minority stake in JSW Cement Limited, with an investment of Rs 100 crore in the company via compulsorily convertible preference shares (CCPS).Multi-business conglomerate ITC Ltd has raised its holding to 27.34 per cent in Delectable Technologies, a company that operates the Azgo app and vending machines selling snacks and other fast-moving consumer goods.——-Do also check out over two dozen stock recommendations for today’s trade from top analysts on ETMarkets.com.That’s it for now. Stay with us for all the market news through the day. Happy investing!