Stock Market Today: Due to strong global cues, domestic markets are set to open Friday’s trade on a bullish note. The SGX Nifty traded at 18,334 levels, an increase of almost 50 points.
Technology and growth stocks
Technology and growth stocks buoyed US markets overnight on a global scale. The S&P 500 and Dow Jones each rose up to 1%, while the NASDAQ Composite rose almost 250 points to close above 2%.
This morning, the euphoria spread to markets in Asia-Pacific as well, with gains of up to 1% recorded by the S&P 200, Nikkei 225, Topix, Hang Seng, and Shanghai Composite indices.
Stock Market Today: Commodities market
A mixed trend was observed in the commodities market as Brent Crude prices dropped more than 1% to $82 per barrel due to concerns over shaky demand. WTI Crude, on the other hand, increased by 0.5% to $78 a barrel. After acquiring an extra 23.3% of the shares of South African-based Joekels Tea Packers, Tata Consumer’s domestic stock will be closely watched. In addition, Eicher Motors shares will be monitored now that the automotive giant has partnered with Stark Future SL, a company based in Spain, on the development of electric bikes.
Elin Electronics and Eicher Motors
The Grey Market Premium suggests that the stock will likely make a low-key market debut. The IPO received 3.1 times its initial subscription when the business set the issue price at Rs 247.
The parent company of Royal Enfield disclosed a strategic partnership with Stark Future SL, based in Spain, in the area of electric motorcycles. The former will provide €50 million for a stake in Stark Future equal to about 10.35% of the equity.
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