Market LIVE Updates: Sensex up 300 pts, Nifty eyes 16,900; auto, metals advance

Thinner trading volumes heading into the Christmas holidays could exacerbate market swings, leaving strategists reluctant to read much into day-to-day gyrations during the period. Markets continue to be shadowed by escalating mobility curbs to fight omicron and a diminishing stimulus tailwind.

22 Dec 2021, 02:22:05 PM IST

European shares inch up, food delivery stocks jump

European shares edged higher on Wednesday led by gains in food delivery stocks even as worries persisted about the outlook for global recovery amid an increase in COVID-19 cases due to the Omicron variant.

The British capital’s benchmark FTSE 100 index of major blue-chip companies dipped 0.1% to 7,287.19 points, compared with Tuesday’s close.

In the eurozone, the Paris CAC 40 index increased 0.3% to 6,983.27 points and Frankfurt’s DAX rose 0.2% to 15,481.33.

Just Eat rose 5.1% after the food delivery firm announced a deal with One Stop, a British convenience store chain owned by Tesco, to handle orders and deliveries on its platform.

22 Dec 2021, 02:19:48 PM IST

India’s curb on futures trade threatens food supply chain: Reuters 

India’s year-long suspension of futures trading in key farm commodities is crimping the use of risk management tools such as hedging across its food supply chain, spurring inventory cuts as forward purchases get scaled back.

Monday’s halt, targeting items such as soybeans, edible oils, wheat, rice, and chickpeas as authorities move to cool rising inflation, was one of India’s most dramatic steps since it launched commodity futures in 2003.

But the ban on access to futures contracts may fuel volatility in domestic markets by denying traders the tools crucial to planning decisions, forcing them to cut stocks, delay long-term purchases and sales, and even limit imports.

22 Dec 2021, 02:16:00 PM IST

AngelOne partners with Vakrangee Digital Ventures

22 Dec 2021, 01:51:59 PM IST

Not engaged with Invesco as matter Sub Judice. Non-compete fee is 2.11%, which is negotiated for, says Zee’s Punit Goenka: CNBC TV18



22 Dec 2021, 01:38:14 PM IST

ABB India to sell its Turbocharger Business to wholly-owned subsidiary for ₹310 cr on slump sale basis: BSE filing 



22 Dec 2021, 01:28:27 PM IST

Sebi-registered investment advisers can customize fees for accredited investors

The Securities and Exchange Board of India (Sebi) has allowed registered investment advisers (RIAs) to customise fees for accredited investors. To provide a relaxed regulatory framework for sophisticated investors and introduce products designed to meet investor-specific risk profile, Sebi has introduced the concept of “accredited investors” in the Indian securities market.

The concept of a class of investors who have an understanding of various financial products and the risks and returns associated with them, and therefore, can make informed decisions regarding their investments, is recognized by many securities and financial market regulators around the globe. These investors are typically termed accredited investors, qualified investors or professional investors.

The new flexible regulatory framework is expected to result in customised investment products, reduced compliance, better risk labeling (product classification) and increased transparency.

22 Dec 2021, 01:23:22 PM IST

Zydus Cadila receives tentative approval from US FDA for Pimavanserin Tablets: BSE filing 

Zydus Cadila has received tentative approval from the US FDA to market Pimavanserin Tablets, 10 mg.

Pimavanserin is used to treat symptoms of a certain mental/mood disorder (psychosis) that might occur with Parkinson’s disease. It helps lessen symptoms such as seeing or hearing things that are not there (hallucinations) and false beliefs (delusions).

The drug will be manufactured at the group’s formulation manufacturing facility at the SEZ, Ahmedabad. The group now has 325 approvals and has so far filed over 400 ANDAs since the commencement of the filing process in FY04.



22 Dec 2021, 01:17:46 PM IST

Pandemic pushed down railways passenger revenue by 70% in FY21

Pandemic-hit railway services has taken a big toll on its income with the national transporter registering a 70% fall in passenger revenue during FY21.

During the last financial year, railways services were hit due to a national lockdown followed by regional curbs on mobility. Indian Railways also suspended regular train services during the lockdown.

22 Dec 2021, 12:56:35 PM IST

PNC Infratech gets letter of award for NHAI project worth ₹369 crore: BSE filing 



22 Dec 2021, 12:49:46 PM IST

Global stocks steady 

A global rebound in stocks moderated in Asia on Wednesday amid uncertainty over the omicron virus strain’s economic impact and a foggy outlook for U.S. fiscal stimulus.

Equities in Japan and China were steady, while Hong Kong pared gains as a rally in technology shares fizzled. U.S. futures turned lower and European contracts made modest gains. The S&P 500 and the tech-heavy Nasdaq 100 jumped on Tuesday as risk appetite revived somewhat.

Thinner trading volumes heading into the Christmas holidays could exacerbate market swings, leaving strategists reluctant to read much into day-to-day gyrations during the period. Markets continue to be shadowed by escalating mobility curbs to fight omicron and a diminishing stimulus tailwind.

S&P 500 futures dipped 0.1%, Nasdaq 100 futures fell 0.1%. 

Japan’s Topix index rose 0.1%, Australia’s S&P/ASX 200 Index rose 0.1%, South Korea’s Kospi index rose 0.3%, Hong Kong’s Hang Seng Index gained 0.3%, China’s Shanghai Composite Index was steady.

Euro Stoxx 50 futures rose 0.4%

22 Dec 2021, 12:34:31 PM IST

L&T construction arm bags order worth ₹1,000-2,000 crore for its Buildings & Factories business: BSE filing 

The construction arm of Larsen & Toubro (L&T) has secured a significant order for its Buildings & Factories business from a reputed developer.

The residential business of Buildings and Factories has secured the order to construct one of the largest residential townships in Bengaluru. The total built up area will be 13.43 million sq.ft. The project is scheduled to be completed in 42 months.



22 Dec 2021, 12:27:41 PM IST

Sri Lanka to settle $251 mln oil import dues to Iran by bartering tea amid dwindling foreign reserves: Reuters 

22 Dec 2021, 12:26:32 PM IST

Salesforce launches first startup programme in India

Global customer relationships management (CRM) solutions provider Salesforce has launched its maiden startup program in India. The programme, already present in its global markets, will offer startups the California-based company’s AppExchange partner programme, which is its online marketplace for cloud solutions. It will also offer support from the company’s Trailblazer Community, a startups ecosystem under Salesforce.

The company also said select startups will get an opportunity for investments through its venture capital arm Salesforce ventures. “We have been working with startups in various ways. What we’re trying to do here is to provide a unified approach for Salesforce to connect to startups and vice-versa,” said Sanket Atal, senior vice president and managing director for Sites at Salesforce.

22 Dec 2021, 12:24:18 PM IST

India successfully tests ‘Pralay’ missile off Odisha coast:…

Read More: Market LIVE Updates: Sensex up 300 pts, Nifty eyes 16,900; auto, metals advance

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