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Royal Enfield said its new assembly facility in Brazil has commenced operations

Written by -

December 8, 2022 3 minutes

Opening Bell:

SGX Nifty is down by 16.0 points in the early morning trade, indicating a negative opening for Indian stock market.

Stocks opened under pressure in Asia on Thursday after US shares declined and Treasuries flashed warning signs of the risk of recession. The Japanese Nikkei is down by 0.86 percent. South Korea’s Kospi is down by 0.98 percent. Hong Kong’s Hang Seng is up by 1.8 percent in the early morning trades.

US stock indexes fell in choppy trading on Wednesday as investors assessed the warnings of a looming recession from major Wall Street bankers, while Apple shares fell on analyst projections of lower iPhone shipments. S&P 500 lost 0.19 percent whereas Nasdaq composite dropped 0.5 percent.

Stocks News:

?Dharmaj Group Guard will make its debut at the Dalal Street on Thursday after raising Rs 251 crore from primary markets. Its initial public offering, which was subscribed 35.5 times, was open between November 28-30 in the range of Rs 216-237 apiece.

?Infosys commenced its fourth share buy-back amounting to Rs 9,300 crore. The buy-back will be at a price not greater than Rs 1,850 per equity share having a face value of Rs 5 each through the open market route.

?Tech Mahindra announced the launch of Cloud BlazeTech, an integrated, sector-agnostic platform, to maximise business value for cloud-powered enterprises globally. The organisation will continue to invest in cloud services and hyerpscaler relationships to boost digital transformation for enterprises.

?Royal Enfield said its new assembly facility in Brazil has commenced operations. The CKD (completely knocked down) plant is a significant step forward in the company’s plans in Latin America and reiterates the brand’s commitment to the region.

?Foreign portfolio investors (FPIs) on Wednesday net sold shares worth Rs 1,242 crore, provisional data showed. DIIs net bought shares to the tune of Rs 389 crore.

Domestic and International Events

  • The U.S. dollar weakened against major currencies on Wednesday amid concerns that rising interest rates could push the U.S. economy into recession, while a loosening of China’s COVID restrictions boosted the yuan.
  • India’s GDP growth may slow down sharply to 5.1 percent in 2023-24 and force the Reserve Bank of India (RBI) to cut the key repo rate by 75 basis points (bps) in the second half of 2023, economists at Nomura have said.
  • Oil rose after a four-day drop as investors weighed the impact of China’s moves to ease virus curbs against a looming US slowdown.
  • The Indian startup ecosystem has witnessed a 35% year-on-year fall in total funding so far in 2022 (till December 5) at $24.7 billion, with retail and fintech among the worst-affected sectors, a report by startup data platform Tracxn has said.

Key Equity Indices

EMERGING LATEST % 1D
Hang Seng 18,815 (3.2) %
Shanghai Composite 3,200 (0.4) %
DEVELOPED LATEST % 1D
Dow Jones 33,598 0.0 %
DAX 14,261 (0.6) %
FTSE 100 7,489 (0.4) %
Nikkei 27,686 (0.7) %
Straits Times 3,225 (0.8) %

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