Domestic shares bounced back on Tuesday, supported by positive global markets. The Nifty, however, failed to close above its 20 days simple daily moving average (DMA) placed at 12140.44. Investors kept an eye on the geopolitical developments following Washington’s targeted killing of Iran’s top military commander Qasem Soleimani in Iraq. After falling for the past two sessions amid a flight to safety, the markets around the globe took a sigh of relief and resume uptrend as Monday passed with no new escalation in tensions.
U.S. electric car maker Tesla Inc has started work on building Model Y electric sports utility vehicles (SUV) at its $2 billion Shanghai factory, marking a new milestone for the company’s first foreign car plant. European shares rebounded on Tuesday, snapping a two-day losing streak as concerns over a U.S.-Iran standoff eased, while technology stocks tracked their Wall Street peers higher.STOXX 600 Index (STOXX) rose about 0.6%.
Manappuram Finance Ltd. has successfully raised $300mn by way of senior secured fixed rate notes issuance for a 3-year tenor. The issue was placed with a coupon of 5.90%.
A factory accident occurred in PI Industries’ one section of a multi-product plant at Jambusar fine chemical manufacturing site in Gujarat.
Canara Bank’s repo rate linked lending rate for Retail and MSME loans at 8.05% with effect from Jan. 7. Base Rate will be 9.1% and one-year MCLR at 8.35%.
Container Corporation of India has incorporated its wholly-owned arm CONCOR Last Mile Logistics, to develop goods sheds, operate and manage freight terminals/ goods sheds, develop warehouses, etc.
Biocon has appointed MB Chinappa as the chief financial officer of Biocon Biologics.
Bank of Maharashtra reduced MCLR and Base Rate across various tenors with effect from Jan. 7. One-year MCLR was at 8.25% and Base Rate was at 9.4%.
Asian shares rebounded on Tuesday as investors’ reassessed the risk of an all-out conflict between the United States and Iran, while Wall Street battled back to the black as tech stocks climbed.
Japan stocks were higher after the close on Tuesday, as gains in the Paper & Pulp, Railway & Bus and Real Estate sectors led shares higher. The Nikkei 225 rose 1.60%. Australia stocks were higher after the close on Tuesday, as gains in the Healthcare, Telecoms Services and Consumer Staples sectors led shares higher. The S&P/ASX 200 rose 1.35%.