Asian shares continued to fall on Thursday as global selloff continued.The Nikkei index tanked 1.1%, while Hang Seng was trading flat. Meanwhile, Shanghai index was trading 0.4% lower.US stock indices ended the second session of the year down again in extended profit-taking on Wednesday after a strong finish to 2023, with minutes from the Federal Reserve’s December meeting failing to shake off the funk hanging over markets.Here’s a table showing how US stocks performed on Wednesday:
Source: EquitymasterAt present, the BSE Sensex is trading 362 points higher and NSE Nifty is trading 100 points higher.NTPC and Tata Motors are among the top gainers today.BPCL, HCL Tech, and Tata Steel on the other hand are among the top losers today.Broader markets are trading higher. The BSE Mid Cap is treading 0.4% lower and the BSE Small Cap index is trading 0.8% higher.Sectoral indices are trading positive, with socks in the realty sector and the power sector witnessing the most buying.The rupee is trading at Rs 83.31 against the US dollar.In commodity markets, gold prices are trading 0.4% higher at Rs 62,725 per 10 grams today.Meanwhile, silver prices are trading 0.2% higher at Rs 72,445 per 1 kg.
Maruti Suzuki to Expand SUV PortfolioIndia’s top car manufacturer, Maruti Suzuki, is gearing up to dominate the SUV market with the imminent launch of two new models.The move comes in response to the escalating demand for SUVs, a trend that has garnered significant traction among Indian consumers. Maruti Suzuki is currently in the development phase of an entry-level SUV, codenamed Y43, set to compete with the likes of Tata Punch and Hyundai Exter.Additionally, the automaker is eyeing a 2025 release for a three-row SUV, codenamed Y17, based on the Grand Vitara platform. This larger SUV is expected to feature a robust hybrid powertrain and will be manufactured at the upcoming Kharkhoda plant.Currently, Maruti Suzuki has only four SUV models, whereas the market boasts 55 different options.According to Auto Car, the three-row SUV is slated to be positioned in the Rs 15 lakh-25 lakh price segment, catering to a broad consumer base. The entry-level SUV, planned for launch in 2026-27, is poised to further bolster Maruti Suzuki’s presence in the highly competitive SUV market.Maruti Suzuki’s decision aligns with the substantial growth observed in the sub-four-metre SUV segment, which surpassed the one-million-unit mark in 2023.The overall utility vehicle market has exceeded 2 million units, with SUVs accounting for 48% of passenger vehicle sales in 2023. The SUV market share is expected to surpass 50% in 2024.
Vodafone idea Partners Team VitalityVodafone Idea has partnered with Paris-based esports organisation, Team Vitalitality, to grow the esports ecosystem in India.Vi and Team Vitality aim to jointly create opportunities and exposure for esports fans and gaming enthusiasts alike.The partnership encompasses brand sponsorship, content partnerships, gaming events, and large-scale unique experiences.Further, this will enable Vi users to participate in esports and allow exclusive access to the Paris-based firm’s tournaments and teams.Vi already has a presence in the mobile games segment, offering a wide range of hyper casual mobile games to users via Vi Games on Vi App.Through this association with Team Vitality, Vi now aims to deepen its focus on esports in India.Vi Games in the recent past forayed into the esports segment by hosting popular free-to-play tournaments across games like Call of Duty: Mobile, Free Fire Max, and others.
Vodafone Idea zooms 39% in 2 days, hits over 4 years high.
Zomato initiates liquidation of its Polish subsidiaryZomato has informed the exchanges that its step-down subsidiary in Poland has started the process of liquidation on 2 January 2024.The company said that Gastronauci’s dissolution, which is expected to be completed in four months subject to necessary approvals, will not affect its turnover/revenue. The food tech company acquired the Poland-based restaurant-search service in 2014.Between January 2023 and July 2023, Zomato liquidated five subsidiaries based in Indonesia, New Zealand, Australia, Jordan, and Portugal; and in September 2023, it announced the liquidation of its Slovakian subsidiary.According to IIFL’s report on the company, from 2012, Zomato had started expanding overseas.More By This Author:Sensex Today Ends 536 Points LowerSensex Today Trades Lower; Adani Stocks RallySensex Today Ends 379 Points Lower; Vodafone Idea Tanks 5%
