Opening Bell:
SGX Nifty is up by 29.5 points in the early morning trade, indicating a positive opening for Indian stock market.
Most stocks in Asia gained and the dollar weakened as investors digested mixed corporate earnings and economic data. Japan’s Nikkei is up 0.55% in early trade, while South Korea’s Kospi down by 0.23% and the Hang Seng is down by 1.27% respectively. The Nasdaq closed lower on Monday, underperforming the S&P 500 and the Dow, with pressure from high-profile megacaps as investors awaited results from companies including Microsoft while Tesla shares fell on concerns about its spending plans The Dow up by 0.20 percent. The Nasdaq declined 0.29 percent, while the S&P up by 0.08 percent.
Stocks News:
?Infosys has signed a Memorandum of Understanding (MoU) with energy and chemicals company Aramco, to collaborate on accelerating their human resource (HR) technology. Infosys aims to leverage AI to further bolster Aramco’s employee learning and development experiences and reduce skill gaps.
?Ipca Laboratories is going to acquire 33.38% stake in Unichem Laboratories, from one of its promoter shareholder at a price of Rs 440 per equity share, amounting to Rs 1,034.06 crore. This proposed acquisition is subject to approval of the Competition Commission of India.
?Life Insurance Corporation of India has acquired additional 21,367 equity shares or 0.02% stake in the company via open market transactions. With this, LIC’s shareholding in the L&T Technology increased to 5.008%, from 4.988% earlier.recommend a dividend for the year ended March 2023.
?Mankind Pharma’s maiden public offering, the first biggest IPO in terms of issue size, will open for subscription today. This will be the second initial public offering this calendar year after Avalon Technologies.
?Foreign portfolio investors (FPIs) have net sold shares worth Rs 412 crore on Monday. DIIs, on the other hand, bought stock worth Rs 1,177 crore.
Domestic and International Events
- BlackRock Inc.’s research arm is growing even more bullish on emerging markets, where central bankers are moving far faster than the Federal Reserve to reach a peak in their interest rate hiking cycles.
- Optimism that the Federal Reserve will pivot from its most aggressive interest-rate hiking cycle in four decades – a major headwind for the industry last year – has pushed the S&P 500 Information Technology Index up 19% in 2023 compared with a 7.7% gain for the S&P 500 Index.
- Oil prices slipped in early trade on Tuesday, paring gains from the previous session, as investors weighed strong holiday travel in China that could boost fuel demand with the prospect of rising interest rates elsewhere slowing economic growth.
- Gold prices in domestic and international markets fell as fears about more interest rate hikes by the US Federal Reserve dented the outlook for the yellow metal. In both global and domestic markets, gold prices had fallen below their key price levels.
Key Equity Indices
| EMERGING | LATEST | % 1D |
| Hang Seng | 19,960 | (0.6) % |
| Shanghai Composite | 3,275 | (0.8) % |
| DEVELOPED | LATEST | % 1D |
| Dow Jones | 33,875 | 0.2 % |
| DAX | 15,864 | (0.1) % |
| FTSE 100 | 7,912 | (0.0) % |
| Nikkei | 28,594 | 0.1 % |
| Straits Times | 3,325 | 0.1 % |
