Stock Market Today: The SGX Nifty trends suggest favourable start, markets likely to open in green

Stock Market Today: Trends on the SGX Nifty point to a positive start for India’s broader index, with a gain of 66.50 points, or 0.38 percent. On the Singapore Exchange, the Nifty futures were trading around the 17,707 level.

The Bank of England raised interest rates by half a percentage point to 4% on Thursday, the tenth consecutive hike in the central bank’s battle to contain soaring inflation, despite forecasting a shallower recession this year than previously anticipated.

SEBI allows abrdn Investment to sell stake in HDFC Asset Management Company

SEBI granted HDFC Asset Management Company permission to reduce abrdn Investment Management Limited’s shareholding in the company to less than 10%.

The company has received a letter from abrdn Investment Management Limited, one of the promoters holding 10.21% of the company’s paid-up share capital, stating that they intend to sell their entire stake in the company in accordance with the SEBI (Mutual Funds) Regulations, 1996.

Stock Market Today: Dabur India Q3 Earnings

Dabur India’s consolidated net profit fell 5.5 percent year on year to Rs 476.6 crore in the quarter ended December 2022.

Dabur reported a net profit of Rs 504 crore in the same quarter a year ago in a stock exchange filing on February 2.

Revenue from operations, on the other hand, increased 3.5 percent year on year to Rs 3,043 crore, up from Rs 2,942 crore in Q3 FY22. According to the company, revenue surpassed Rs 3,000 crore for the first time.

Nasdaq, S&P 500 post strong gains on Fed relief, Meta surge

The Nasdaq and S&P 500 closed higher on Thursday, approaching five-month highs, as Federal Reserve Chair Jerome Powell’s more dovish-than-expected message boosted equities and Meta Platforms shares soared on strict cost controls.

The Dow fell, dragged down by falls in some major healthcare stocks.

The Dow Jones Industrial Average fell 39.02 points, or 0.11%, to 34,053.94, while the S&P 500 rose 60.55 points, or 1.47%, to 4,179.76 and the Nasdaq Composite rose 384.50 points, or 3.25%, to 12,200.82.

Also Read: Jeep to launch a new SUV in the Indian market? The car may compete with Hyundai Creta, What we know so far

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