Market update: Sensex and Nifty slump amid weak global cues; here are some stocks to watch

[ad_1]

At 11: 45 am, Sensex was down by 1.34 percent to 59,414.73 while Nifty slumped 1.30 percent to 17,692.40

Market update: Sensex and Nifty slump amid weak global cues; here are some stocks to watch

Representational image. Reuters

Domestic market indices NSE Nifty 50 and BSE Sensex took cues from global markets to begin the session in red.

Despite beginning 2022 on a high note, Sensex and Nifty seem poised to end on a slump today, 6 January. At 11: 45 am, Sensex was down by 1.34 percent to 59,414.73 while Nifty slumped 1.30 percent to 17,692.40.

Asian markets fell after the minutes of the Federal Reserve meeting pointed to a faster-than-expected rise in US interest rates, according to NDTV. The rise would likely be due to persistent inflation concerns in the country.

The worry about the higher US interest rates and weak global cues, coupled with concerns over the rapid spread of the Omicron variant of COVID-19 have caused the markets to slump.

As the market continues to be volatile, here are some stocks you should watch for:

Jet Airways: The interim CEO and vice president (operations) of Jet Airways, Sudhir Gaur, has resigned just months before the company’s proposed re-launch. He was also vice president (operations) at the company. Priyalpal Singh has been appointed as the stand-in manager now.

Reliance Industries: As per a term sheet seen by Reuters, Reliance Industries has raised $4 billion in a three-tranche USD bond insurance. The company has raised $1.75 billion in a 30-year and $750 million in a 40-year deal, as per NDTV.

Airtel: Bharti Airtel has announced a joint venture with Hughes Communications India (HCIPL), a majority-owned subsidiary of Hughes Network Systems, to offer satellite broadband services.

Future Retail: The arbitration proceedings between Amazon.com and Future Group have been halted by the Delhi High Court. The decision comes as a setback for global e-commerce giant Amazon, which had used the conditions of its 2019 investment in a Future group unit to block the company’s efforts to sell assets to Amazon’s rival.

Mahanagar Gas: Through open market transactions, the Life Insurance Corporation of India (LIC) has acquired a further two percent stake in the company, taking its shareholding from five percent to 7.01 percent.

[ad_2]

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

Open chat