Markets attempted to recover on Tuesday following their worst drop in 10 months, aided by the gains on IT stocks, despite global markets being at a crossroads over the growing tensions between Ukraine and Russia. Keep an eye on TOI for the most up-to-date news.
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Adani Wilmar shares up over 7 per cent due to strong Q3 results.
Adani Wilmar’s shares Adani Wilmar jumped over 7 per cent on Tuesday, following the day that the company announced a 66 per cent increase in net income consolidated to around 211.41 crores in the quarter ending December 20 2021. On the BSE, they were 7.33 per cent higher with a price of Rs.404. Similar to the NSE, the scrip was trading up 7.62 per cent to the cost of Rs 405.
Tokyo stocks end lower due to concerns about Ukraine, US rate hikes
On Tuesday, Tokyo markets closed more down as investors wrestled with the fear that Russia could invade Ukraine and pondered the US tightening monetary policy. The most critical Nikkei index 225 ended the day down 0.79 per cent to 26,865, while the broader Topix index fell 0.83 per cent, closing at 1,915.
Rupee drops 12 paise but is still 75.72 against the US dollar in the early trading.
The rupee dipped 12 pisos up to 75.72 with respect to the US dollar during the opening of trade on Tuesday, amid geopolitical tensions and a rise in inflation within the country have weighed on investors’ sentiments. Forex traders noted that continued withdrawals of foreign funds and rising crude oil prices also weakened the rupee’s currency position. “Growing concerns about tensions between Russia and Ukraine and the impact it has on crude oil prices and increased global interest rates could limit appreciation bias,” Sriram Iyer, senior research analyst at Reliance Securities, told PTI.
Sensex gains 315 points in trading’s opening; IT FMCG shares lend the support.
The BSE gauge Sensex climbed more than 315 points to trade at 56,721 at the time of opening on Tuesday, following the emergence of mainly buying IT and FMCG stocks despite a sluggish global market because of Ukraine. Ukraine crisis.
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Vedanta ropes Foxconn for the chip plant
In Taiwan, Foxconn and Anil Aggarwal’s Vedanta will join forces to form a joint venture (JV) to produce semiconductors in India. This move could help alleviate the worldwide shortage of chips that shook electronic and automobile manufacturers.
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