Stock Market Today: In spite of mixed global cues, the SGX Nifty on Tuesday pointed to a slow start for the stock exchanges. It was up only about 28 points, closing at 18,730. Globally, tech equities pulled down the US markets overnight. The NASDAQ Composite fell 1.1%, the S&P 500 fell 0.4%, and the Dow Jones closed unchanged. But in Tuesday’s early trade, markets in the Asia-Pacific region were uneven. The Nikkei 225, Topix, and Kospi indices all decreased by up to 0.4%. With gains of 0.2%, Australia’s S&P 200 defied the general trend.
Stock Market Today: Stocks to watch
SBI
SBI Capital Markets, the investment banking and project consulting arm of State Bank of India (SBI), has expanded operations to the Middle East with the opening of a new office in Abu Dhabi, according to two persons familiar with the situation. SBI Caps was recently granted permission to open a branch office in the Abu Dhabi Global Market (ADGM). While no formal announcement has been made, senior SBI and SBI Caps executives will open the branch on July 3rd.
Bharti Airtel
Bharti Airtel has started reorganising its enterprise business sector, Airtel Business, with chief executive officer Ajay Chitkara stepping down on August 20. Airtel Business will be divided into three divisions, each with its own leader. Vani Venkatesh will lead the worldwide business, Ganesh Lakshminarayanan will lead the domestic business, and Ashish Arora will lead Nxtra Data Centres.
Airtel Business CEO Ajay Chitkara resigns
Bharti Airtel announced on June 26 that Airtel Business Chief Executive Officer (CEO) Ajay Chitkara has resigned from his position. He will serve as CEO until the third week of August 2023.
As a result, the telco will operate in three business and channel segments: global business managed by Vani Venkatesh, domestic business led by Ganesh Lakshminarayanan, and Nxtra Data Centres led by Ashish Arora, according to a regulatory filing by Airtel.
Dollar holds firm ahead of U.S. durable goods
The US dollar held its ground against other currencies on Tuesday as tensions in Russia simmered and traders looked ahead to US data that might decide the timing of interest rate hikes.
Russian President Vladimir Putin acknowledged on Monday that he let an abortive mutiny last as long as it did to avoid bloodshed, a crisis that sent the dollar to a 15-month high against the rouble.
The dollar index increased 0.04 percent to 102.770. The rouble was unchanged at 84.40 per dollar after falling to its lowest level since March 2022.
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