Opening Bell | Global markets show signs of easing
Asian markets rebound from a three-year low amid signs of stabilization in the Chinese markets and speculation this year's sell-off has gone too far
Asian markets trade marginally higher
Asian markets rebound from a three-year low amid signs of stabilization in the Chinese markets and speculation this year’s sell-off has gone too far. China’s Shanghai Composite declined 0.5%, Japan’s Nikkei Stock Average was up 0.7% while Hong Kong’s Hang Seng gained 0.2%.
US markets close higher
US stocks closed higher on Thursday, stabilizing after a steep sell-off, helped by some recovery in oil prices and comments from Fed policymakers that indicated possibility of an even more gradual pace of tightening. Dow Jones Industrial Average, Nasdaq Composite and S&P 500 were up around 2% each.
Crude slump may hurt ONGC’s earnings
ONGC Ltd shares will be under pressure as it is close to suffering losses as oil prices have collapsed to the level comparable to its cost of production. Brent crude has fallen to almost $30 per barrel, reports Economic Times.
Infosys reports higher than expected dollar revenue growth
Infosys Ltd reported higher-than-expected dollar revenue growth of 0.6% sequentially to $2.41 billion in the December quarter, and raised its growth outlook for the current fiscal year between 8.9% and 9.3%, up from its earlier forecast of an at-best 8.4% expansion, read more.
Emerging market outflows and yuan slide weigh on the rupee
The rupee weakened to an over two-year low of 67.3 per dollar on Thursday as a sell-off in most emerging market equities and currencies triggered outflows from the domestic stock market. Concerns of another yuan devaluation also kept investors edgy.
M&M Ltd to beat diesel ban
Mahindra and Mahindra Ltd (M&M) shares will be in focus as it has found a way to go around the Supreme Court order suspending registration of vehicles strapped with diesel engines bigger than 2.0 litres, by introducing the engine of 1.9 litres, bringing it within the limits set by the court, reports Economic Times.
Bharti and Vodaone to deploy VOLTE
Bharti Airtel Ltd and Vodafone are preparing to deploy Voice over LTE (VOLTE) technology on their networks association with Finnish gear maker Nokia to take on Reliance Jio Infocomm, which is expected to start operations soon with services based on similar technology, reports Economic Times.
Direct benefit transfer scheme to get a boost
Lastly, in a move that would facilitate more effective implementation of the direct benefit transfer scheme, the Reserve Bank of India has clarified that banks can seed accounts with Aadhaar unique identity numbers in case the beneficiary agrees, read more.
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