Wipro has launched Wipro Data Intelligence Suite running on Amazon Web Services

Opening Bell:

SGX Nifty is up by 0.16 points in the early morning trade, indicating a positive opening for Indian stock market.

Markets in the Asia-Pacific traded higher, carrying on the optimism behind Wall Street’s rally as Federal Reserve Chair Jerome Powell confirmed smaller rate hikes could start in December. Other major indices also gained in Asia’s early morning trade.

Wall Street ended sharply higher on Wednesday after Federal Reserve Chair Jerome Powell said the central bank might scale back the pace of its interest rate hikes as soon as December. The S&P 500 rallied and closed above its 200 day moving average for the first time since April after the release of Powell’s remarks prepared for delivery at the Brookings Institution think tank in Washington.

Stocks News:

?TCS said that it has bagged a deal from Rail Delivery Group to design, develop, implement, and operate the UK’s Rail Data Marketplace. The contract between TCS and RDG is for a term of six years including an extension term opportunity.

?Wipro has launched Wipro Data Intelligence Suite running on Amazon Web Services (AWS). The Suite offers reliable and secure means to migrate from existing platforms and fragmented legacy systems to the cloud.

?Apollo hospital chain operator has received board approval for fund raising up to Rs 105 crore via non-convertible debentures (NCDs). The company will issue 1,050 NCDs with a face value of Rs 10 lakh each.

?Zomato shares sold by Alipay Singapore, Chinese e-commerce giant Alibaba, sold 26,28,73,507 shares or 3.07 per cent stake in online food delivery aggregator at an average price of Rs 62.06 apiece for Rs 1,631.39 crore through an open market transaction. Camas Investments, a wholly-owned subsidiary of acquired 9.80 crore shares of the company.

?Foreign institutional investors (FIIs) have net bought shares worth Rs 9,010.41 crore, while domestic institutional investors (DIIs) net sold shares worth Rs 4,056.40 crore on November 30, as per provisional data available on the NSE.

Domestic and International Events

Federal Reserve Chair Jerome Powell on Wednesday said it was time to slow the pace of coming interest rate hikes while also signaling a protracted economic adjustment to a world where borrowing costs will remain high, inflation comes down slowly and the United States remains chronically short of workers.
The Central government’s fiscal deficit widened to Rs 7.58 lakh crore in April-October, accounting for 45.6 percent of the full-year target, data released on November 30 by the Controller General of Accounts showed. The fiscal deficit for April-October 2021 had accounted for 36.3 percent of the FY22 target.
The growth rate in the production of eight key sectors slowed down to a 20-month low of 0.1 percent in October on account of contraction in the output of crude oil, natural gas, refinery products, and cement, according to the official data released on Wednesday.
The Indian economy’s performance in July-September shows it has maintained its momentum and the country is on track to grow by 6.8-7 percent in the current financial year, Chief Economic Adviser V Anantha Nageswaran said.