Elin Electronics will list shares on the BSE and NSE on December 30

Opening Bell:

SGX Nifty is up by 64.5 points in the early morning trade, indicating a positive opening for Indian stock market.

Asian markets are trading mostly higher in the early trade on Friday. The Japanese Nikkei is up by 0.22 percent. South Korea’s Kospi is closed today on account of New Year Holidays. Hang Seng is up by 0.9 percent in early morning deals.

Wall Street’s main indices closed higher on Thursday, led by growth stocks in light trading, as US unemployment data signaled the Federal Reserve’s interest rate hikes might be starting to dent labor market strength in its bid to fight inflation. S&P 500 gained 1.75 percent and Nasdaq composite added 2.59 percent respectively.

Stocks News:

?Eicher Motors parent company of Royal Enfield will make strategic investment of 50 million euro in Spanish electric mobility company, Stark Future SL. This investment will pave the way for a long term partnership in collaborative research and development in electric motorcycles, technology sharing, technical licensing, and manufacturing.

?Promoter entity Rising Sun Holdings has bought an additional 2.19% stake in Poonawalla Fincorp via open market transactions. With this, its shareholding in the company increased to 62.05%, up from 59.86% earlier.

?Elin Electronics the electronics manufacturing services provider will list shares on the BSE and NSE on December 30.

?Packaging solutions provider Sah Polymers on December 29 raised nearly Rs 30 crore via anchor book ahead of the launch of its initial public offering (IPO).

?Foreign institutional investors (FIIs) have net offloaded shares worth Rs 572.78 crore, while domestic institutional investors (DIIs) net purchased shares worth Rs 515.83 crore on December 29, as per provisional data available on the NSE.

Domestic and International Events

• Oil prices fell for a second straight session on Thursday on an uncertain demand outlook as more countries considered restrictions on Chinese travelers with Covid-19 infections spreading in the top oil-importing nation.
• China’s government is dismantling pandemic restrictions, yet a surge in infections there is prompting tougher travel rules on Chinese visitors in some countries.
• The gross non-performing asset (GNPA) ratio of scheduled commercial banks (SCBs) fell to a seven-year low of five percent in September 2022, the Reserve Bank of India (RBI) said in its financial stability report (FSR) on December 29.
• India’s current account deficit (CAD) surged to an all-time high of $36.4 billion in July-September, data released on December 29 by the Reserve Bank of India (RBI) showed.

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