Stock Market Today: The broader index in India is off to a flat to positive start, according to SGX Nifty trends, with a gain of 69.50 points or 0.39 percent. On the Singapore Exchange, the Nifty futures were trading around the level of 17,70699.50.
Wall Street closes sharply higher
Wall Street rallied on Friday to end a volatile week, as US Treasury yields eased and economic data helped investors look past the growing likelihood that the Federal Reserve will have to keep its restrictive policy in place until late in the year.
The Dow Jones Industrial Average rose 387.4 points, or 1.17%, to 33,390.97, the S&P 500 gained 64.29 points, or 1.61%, to 4,045.64 and the Nasdaq Composite added 226.02 points, or 1.97%, to 11,689.01.
CAMS acquires majority stake in Think Analytics
The full-stack AI and data sciences company Think Analytics India Private Limited (Think360 AI), which offers creative solutions using digital technologies like advanced analytics, AI/ML, mobile, and cloud computing, was acquired by Computer Age Management Services Limited (CAMS), according to a press release.
Stock Market Today: Bank of Baroda lowers home loan rate by 40 bps to 8.5%
In order to outperform the competition, the government-owned Bank of Baroda (BoB) cut its home loan interest rates by 40 basis points (bps) to 8.5 percent on Sunday. The bank has also lowered the interest rates on its MSME loans, which now start at 8.40 percent.
According to a statement from BoB, both offers are effective as of March 5, 2023, and are only good until March 31, 2023.
Stock Market Today: China sets modest growth target of about 5%
As its annual session of the National People’s Congress (NPC) got underway on Sunday, China set a modest goal for economic growth this year of around 5%. The NPC is about to implement the biggest government shake-up in a decade.
Last year, the economy put on one of its worst shows in decades, growing by just 3% as a result of three years of Covid controls, a crisis in the sizable real estate market, and a crackdown on private enterprise.
The growth target for this year is lower than anticipated, as policy sources recently told Reuters that a range as high as 6% could be set. Additionally, it falls short of the 5.5 percent goal set for last year.
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