Stock Market Today: Trends on the SGX Nifty point to a flat to positive start for India’s broader index, with a gain of 200 points . On the Singapore Exchange, the Nifty futures trading at 17,500 level.
Wall Street ends higher
The S&P 500 ended the day in positive territory, snapping a four-session losing streak, as investors pondered how interest rate policy might affect the US economy.
The Dow Jones Industrial Average increased by 108.82 points, or 0.33%, to 33,153.91, the S&P 500 increased by 21.27 points, or 0.53%, to 4,012.32, and the Nasdaq Composite increased by 83.33 points, or 0.72%, to 11,590.40.
Zee Entertainment files appeal in NCLAT seeking relief from insolvency proceedings
After the Mumbai bench of the National Company Law Tribunal (NCLT) allowed the initiation of insolvency proceedings against the media company, Zee Entertainment Enterprises Ltd. filed an appeal with the National Company Law Appellate Tribunal (NCLAT) seeking relief. This appeal comes just one day after the NCLT decision.
“All necessary steps are being taken in accordance with the law to protect the interests of all Zee Entertainment stakeholders and to ensure the timely completion of the proposed merger with Culver Max Entertainment Pvt. Ltd (Sony),” according to a statement from Punit Goenka’s office.
Stock Market Today: Oil prices update
Oil prices rose 2% on Thursday on expectations of sharp cuts in Russian output next month, but a stronger dollar and a larger-than-expected increase in US inventories exacerbated demand concerns.
Brent crude futures rose $1.61, or 2%, to $82.21 per barrel, from around $98 on the eve of Russia’s invasion of Ukraine a year ago. WTI crude futures settled up $1.44, or 2%, to $75.39 per barrel, snapping a six-session losing streak.
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