Stock Market Today: Dalal Street appeared to be off to a good start on Tuesday as the GIFT Nifty on the NSE IX trading higher by 64.5 points, at 21,745. Nifty finished the day 51 points lower on Saturday, forming a negative candle that engulfed the bullish candle from the previous session. A bearish engulfing pattern was observed on the weekly charts. On Monday, the S&P 500 closed at a record high for the second time in as many days as tech stocks continued their recent uptrend and investors looked to future corporate reports for guidance on this year’s earnings expectations.
Stock Market Today: Stocks in focus
Zee
Unsurprisingly, Sony has called off a massive $10 billion merger with Zed Entertainment and its India division. In addition to requesting a $90 million termination fee for claimed violations by Zed, Sony is also suing the firm in arbitration.
Cigniti Technologies
Srikanth Chakkilam has been reappointed as executive director and CEO of Cigniti Technologies. As of right now, Chakkilam is a non-executive director.
ICICI Bank
Despite losing margins, ICICI Bank reported an in-line third-quarter profit of Rs 10,270 crore, driven by a spike in other income and a reduction of operating expenses.
Cipla
Cipla reported a 32% increase in consolidated earnings for the December quarter, coming in at Rs 1,056 crore. To Rs 6,604 crore, its revenue for the quarter increased 13.7% YoY.
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