10:59 A.M.
Go Fashion shares list with nearly 91% premium
Go Fashion shares listed with a premium of nearly 91% at ₹1,316 against its issue price of ₹690. At the NSE, the stock made its debut at ₹1,310, soaring 89.85%.
The initial public offer of Go Fashion (India) Limited, which owns women’s clothing brand Go Colors, was subscribed 135.46 times last week.
10:46 A.M.
Rupee gains against U.S. dollar
The Indian rupee appreciated against the U.S. dollar in early trade after plunging to close at a five-week low in the previous session. The domestic unit opened on a strong note at 74.91, then advanced to 74.86 against the greenback, registering a rise of 21 paise.
The Indian currency was boosted by positive domestic equities and a weak U.S. dollar in the overseas markets. Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, slipped 0.21% to 96.14.
10:21 A.M.
Main IKEA retailer’s profits jump
Ingka Group, the owner of most IKEA stores globally, reported a jump in annual profit on the back of record demand for home furnishing. Its operating profit in the 12 months through August was up 31% at 1.9 billion euros.
Sales were up 6%, to above pre-pandemic levels, with online sales jumping to account for 30% of total sales, against 18% the year before.
10:06 A.M.
Oil prices rise
Oil prices rose, extending a rebound from last week’s plunge on growing expectations major producers would put on hold plans to add 4,00,000 barrels per day of supply in January.
Brent crude futures gained 0.6%, to $73.91 a barrel, while U.S. WTI crude futures jumped 1%, to $70.68 per barrel. Oil dipped around 12% on Friday along with other markets on fears the Omicron would spark fresh lockdowns and dent global growth.
9:46 A.M.
Star Health raises ₹3,217 crore ahead of IPO
Star Health and Allied Insurance Company raised around ₹3,217 crore from anchor investors ahead of its initial public offering (IPO).
The IPO comprises fresh issue of equity shares worth ₹2,000 crore and an offer for sale of up to 58,324,225 equity shares by promoters and existing shareholders. At the upper end of the price band, the initial share-sale is expected to fetch ₹7,249.18 crore.
9:39 A.M.
China factory activity grows in November
China’s factory activity grew in November, rising for the first time in three months as the surge in raw material prices and power rationing eased.
The official manufacturing Purchasing Managers’ Index (PMI) rose to 50.1 in November from 49.2 in the previous month.
9:22 A.M.
Indian indices rise amid mixed global cues
Indian indices opened flat amid mixed global cues and advanced in early trade. At 9:21 A.M., the Sensex was up 413.9 or 0.72% to 57,674.48, while Nifty rose to 17,178.95, up 125 points or 0.73%.
On Monday, the 30-share Sensex closed higher by 153.43 points or 0.27% to 57,260.58. Similarly, the NSE Nifty gained 27.50 points or 0.16% to end at 17,053.95.
9:00 A.M.
Asian share markets rebound
Asian share indices were mostly trading in green as investors became cautiously optimistic the new Omicron variant might not cause a widespread global economic disruption.
MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.52% higher. In Japan, Nikkei gained 0.76% and Topix added 1.06%. South Korea’s Kospi was trading 1.08% lower. Hong Kong’s Hang Seng Index was down 1.13%.
In U.S., markets reacted positively to news from President Joe Biden that new lockdowns as a result of the variant were off the table for now. The Dow Jones Industrial Average increased 0.68% to 35,135.94, the S&P 500 rose 1.32% to 4,655.27 and the Nasdaq Composite surged 1.88% to 15,782.83.
—- Edited by John Xavier
(With inputs from Reuters, PTI and other news agencies.)
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