Stock Market Update: In the final session of 2022, Indian shares opened higher on Friday, helped by a rise in IT sectors and after gains in global equities.
Weekly jobless claims increased, and Wall Street stocks ended the day higher, indicating that the U.S. Federal Reserve’s rate increases are having the desired impact on the labour market.
Stock Market Update: Global markets
The MSCI Asia ex-Japan index rose 0.58%, indicating that Asian markets also increased. [MKTS/GLOB]
With the exception of metals and information technology, all the major sectors indices increased.
Gains in local equities were also boosted by falling oil prices, which were affected by worries over China’s demand recovery. Since crude makes up the majority of India’s import expenditure, low oil prices are advantageous. [O/R]
Japan’s Nikkei ends flat, posts first annual loss in 4 years
The Nikkei index of Japan reported its first annual loss in four years on Friday after giving up early gains to settle flat ahead of the holidays.
After climbing as much as 0.9% earlier in the day on the back of overnight advances on Wall Street, the Nikkei closed even at 26,094.50. The index experienced its first loss since 2018 with a 9.4% annual decline.
The Topix as a whole changed direction to close 0.19% lower at 1,891.71, sliding 5% for the year and posting its first loss in four years.
Tata Power
Through the issue of non-convertible debentures on a private placement basis, Tata Power has raised Rs 1,000 crore. The company announced in a regulatory filing that it had privately placed 10,000 Non-Convertible Debentures (NCDs) worth Rs 1,000 crore that were unsecured, redeemable, taxable, listed, and rated.
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