Pakistan’s stock markets made history on Monday as the KSE-100 index posted a historic single-day gain. WION tells you more in this report.

Largest-ever single-day gain for Pakistan stocks on Monday

US markets closed sharply lower yesterday but today Asian stocks have regained their footing to some extent as investors are still assessing the impact of a worsening conflict in Ukraine and a new US ban on Russian oil.

Asian stocks regain their footing, Indian markets open in green

The Pakistan Stock Exchange (PSX) took a hammering on Monday and the benchmark KSE-100 index dived nearly 1,500 points in intra-day trading at one point as the rising oil prices amid geopolitical tensions shattered investor confidence, Geo News reported. 
 
The KSE-100, a benchmark for market performance, underwent selling pressure from the word go, falling below the 44,000-point mark during intra-day with volumes remaining on the lower side.

Also read |<a href="https://www.wionews.com/south-asia/ally-of-pakistan-govt-accuses-imran-khan-of-targeting-certain-media-groups-459609">&nbsp;</a><a href="https://www.wionews.com/world/us-allies-plan-ways-to-help-establish-support-a-ukrainian-government-in-exile-459791">US, allies plan ways to help establish, support a Ukrainian government-in-exile</a> 
 
Market talk suggested that the uncertainty in international markets is the prime reason behind investors` dump-and-run approach at the PSX. 
 
BMA Capital Executive Director Saad Hashemy said that the market was primarily down because of rising oil prices in the international market.

Also read |<a href="https://www.wionews.com/south-asia/ally-of-pakistan-govt-accuses-imran-khan-of-targeting-certain-media-groups-459609">&nbsp;Ally of Pakistan govt accuses Imran Khan of targeting certain media groups</a> 
 
"The oil was last trading at $115 per barrel on Friday; however, the prices surged by $15 on Monday morning which impacted the financial markets worldwide," he said. 
 
Oil prices soared more than 9 per cent, touching their highest since 2008, as the US and European allies mull a Russian oil import ban and delays in the potential return of Iranian crude to global markets fuelled tight supply fears.

Meanwhile, gold prices scaled the $2,000-level for the first time in a year-and-a-half, as investors rushed to the safety of the metal in the wake of an escalating Russia-Ukraine crisis, while supply disruption fears sent palladium to an all-time high.

Watch |&nbsp;Asian stocks tumble in morning trade as the risk of stagflationary shock for world markets continue

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The Pakistan Stock Exchange (PSX) took a hammering on Monday and the benchmark KSE-100 index dived nearly 1,500 points in intra-day trading at one point as the rising oil prices amid geopolitical tensions shattered investor confidence, Geo News reported.

The Pakistan Stock Exchange (PSX) took a hammering on Monday and the benchmark KSE-100 index dived nearly 1,500 points in intra-day trading at one point as the rising oil prices amid geopolitical tensions shattered investor confidence, Geo News reported. The KSE-100, a benchmark for market performance, underwent selling pressure from the word go, falling below the 44,000-point mark during intra-day with volumes remaining on the lower side. Also read | US, allies plan ways to help establish, support a Ukrainian government-in-exile Market talk suggested that the uncertainty in international markets is the prime reason behind investors` dump-and-run approach at the PSX. BMA Capital Executive Director Saad Hashemy said that the market was primarily down because of rising oil prices in the international market. Also read | Ally of Pakistan govt accuses Imran Khan of targeting certain media groups "The oil was last trading at $115 per barrel on Friday; however, the prices surged by $15 on Monday morning which impacted the financial markets worldwide," he said. Oil prices soared more than 9 per cent, touching their highest since 2008, as the US and European allies mull a Russian oil import ban and delays in the potential return of Iranian crude to global markets fuelled tight supply fears. Meanwhile, gold prices scaled the $2,000-level for the first time in a year-and-a-half, as investors rushed to the safety of the metal in the wake of an escalating Russia-Ukraine crisis, while supply disruption fears sent palladium to an all-time high. Watch | Asian stocks tumble in morning trade as the risk of stagflationary shock for world markets continue

Pakistan stock market takes a hammering

Global stock markets have been on a recovery part since the Russian defense ministry published footage to demonstrate that it was in returning some troops to base after exercises. Shares in Asia Pacific rose today morning on signs of easing tensions.

Global stock markets on a recovery path as Russia-Ukraine tensions

Worries about the possibilities of a quicker rate hike from the US Fed Reserve have dragged the global markets down. Indian markets have witnessed marginal recovery after falling for six-straight days.

Anxiety over US Fed decision drags down markets

More than 100 US lawmakers transacted around $290 million in stock transactions last year. Are they using unpublished information to beat the market? Are there no laws to regulate trading by legislators? Palki Sharma tells you.

Gravitas: Insider trading: US senators making millions

The Indian government will give time to the investors to exit from the unregulated cryptocurrency market if the law banning their trade is enacted, according to a newspaper report&nbsp;citing officials familiar with the development.

The Narendra Modi-led government has tabled the “Cryptocurrency and Regulation of Official Digital Currency Bill, 2021” for the upcoming winter session of Parliament.

The bill, once passed in the parliament, will “prohibit all private cryptocurrencies in India,” with “certain exceptions to promote the underlying technology of cryptocurrency and its uses”. The session is scheduled to start on November 29.

According to the Hindustan Times (HT), which cited two officials close to the development, the investors would be given a buffer time to liquidate their investments, but a tax would be levied on the disinvestment under the capital gains tax rule.

The capital gains tax is imposed on the profit from an investment when a sale of the capital asset takes place. In India, gain or profit from selling the investment is treated as an income, and hence a tax is levied.&nbsp;

Also read |&nbsp;<a href="https://www.wionews.com/india-news/india-to-ban-private-cryptocurrencies-bill-to-be-tabled-in-parliament-431454">India to ban private cryptocurrencies, bill to be tabled in parliament</a>

The official, who did not wish to be named, told HT that investors will have ample time to exit if they wish from the time the bill is introduced in the Parliament and then passed by the two houses. Additionally, a three-month buffer is likely to be allowed, beginning from the date a potential ban is enacted.

Meanwhile, ever since it was announced that the government would be banning all private cryptocurrencies, panic selling has erupted in the Indian exchanges.

All major cryptocurrencies saw a fall of around 15 per cent or more, with Bitcoin down over 17 per cent, Ethereum falling by close to 15 per cent, and Tether down by almost 18 per cent till Wednesday.

(With inputs from agencies)&nbsp;

The Indian government will give time to the investors to exit from the unregulated cryptocurrency market if the law banning their trade is enacted, according to a newspaper report citing officials familiar with the development.

The Indian government will give time to the investors to exit from the unregulated cryptocurrency market if the law banning their trade is enacted, according to a newspaper report citing officials familiar with the development. The Narendra Modi-led government has tabled the “Cryptocurrency and Regulation of Official Digital Currency Bill, 2021” for the upcoming winter session of Parliament. The bill, once passed in the parliament, will “prohibit all private cryptocurrencies in India,” with “certain exceptions to promote the underlying technology of cryptocurrency and its uses”. The session is scheduled to start on November 29. According to the Hindustan Times (HT), which cited two officials close to the development, the investors would be given a buffer time to liquidate their investments, but a tax would be levied on the disinvestment under the capital gains tax rule. The capital gains tax is imposed on the profit from an investment when a sale of the capital asset takes place. In India, gain or profit from selling the investment is treated as an income, and hence a tax is levied. Also read | India to ban private cryptocurrencies, bill to be tabled in parliament The official, who did not wish to be named, told HT that investors will have ample time to exit if they wish from the time the bill is introduced in the Parliament and then passed by the two houses. Additionally, a three-month buffer is likely to be allowed, beginning from the date a potential ban is enacted. Meanwhile, ever since it was announced that the government would be banning all private cryptocurrencies, panic selling has erupted in the Indian exchanges. All major cryptocurrencies saw a fall of around 15 per cent or more, with Bitcoin down over 17 per cent, Ethereum falling by close to 15 per cent, and Tether down by almost 18 per cent till Wednesday. (With inputs from agencies)

Indian crypto investors may get exit time if govt bans trade, but with a rider: Report

Paytm is one of India's most recognisable brands especially in post-demonetisation era. The payments platform has seen explosive growth in years after demonetisation. And this is the reason performance of its IPO, biggest ever in India,&nbsp;had everyone's eyed glued to the stock market.

But the IPO hit headlines, not as much for the money it raised,&nbsp;but for the spectacular fall in share price during the trading in Bombay Stock Exchange (BSE) on November&nbsp;18.

The offer price was Rs 2,150&nbsp;but by afternoon the shares changed hands at 1,614 rupees a piece. The shares even hit lower circuit limit of 1,564 rupees. When a share hits this limit, BSE restricts purchases by investors to that price or higher.

What happened?

Paytm is the big fish in online payments market in India. Its backers include biggest names with deep pockets like SoftBank and Ant Group. The brand has high recognisability in India, the third-largest economy in Asia and a prominent global market.

Then what went wrong with Paytm IPO?

"Paytm's financials are not very impressive and the growth prospects seem limited... obviously the company lacks a clear path to profits," Shifara Samsudeen, a LightStream Research analyst told Reuters.

Although Paytm's $2.5 billion offering was priced at the top of the indicative range, demand was much weaker than other recent stock sales, as Paytm has lost some market share to Google and Flipkart's PhonePe.

The company reported a loss of 3.82 billion rupees ($51.5 million) in the quarter ended in June, wider than a loss of 2.84 billion rupees for the same period last year.

It raised $1.1 billion from institutional investors and last week it received $2.64 billion worth of bids for the remaining shares on offer, or a relatively low oversubscription level of 1.89 times.

Many market participants saw the stock's horrendous debut as a sign that investors had become disillusioned with a recent string of IPOs with inflated valuations.

"Most of the domestic institutional investors appear to have skipped the IPO,"&nbsp;&nbsp;Aequitas Research director Sumeet Singh was quoted by Reuters as saying.

He said that the stock was offered at 27 times enterprise value/gross profit for fiscal 2024, more expensive than the 21.3 times for Zomato Ltd and 23 times for Sea Ltd.

He also noted both Ant and SoftBank had cut their shares in the offering. Ant reduced its stake to 23% from 28% and SoftBank's Vision Fund pared its holding by 2.5 percentage points to 16%.

Paytm's listing could bring "an end to obnoxious pricing in IPO markets", said Mumbai-based investment adviser Sandip Sabharwal. He was quoted by Reuters.

Paytm's reaction to the IPO debacle

Paytm founder and CEO Vijay Shekhar Sharma who was visibly crying with joy at the opening ceremony at the start of the trading maintained a brave face later in the day.

"One day does not decide what our future is," he told Reuters. "It is new business model and it takes a lot for somebody to understand it straightforward... there is a lot for us to bring to the markets and the market participants."

Paytm expects it could break even by late next year or early 2023, a source familiar with the matter told Reuters in July, though the company said in its prospectus it expected to make losses for the foreseeable future.

(With inputs from agencies)

Paytm is one of India's most recognisable brands especially in post-demonetisation era. The payments platform has seen explosive growth in years after demonetisation.

Paytm is one of India's most recognisable brands especially in post-demonetisation era. The payments platform has seen explosive growth in years after demonetisation. And this is the reason performance of its IPO, biggest ever in India, had everyone's eyed glued to the stock market. But the IPO hit headlines, not as much for the money it raised, but for the spectacular fall in share price during the trading in Bombay Stock Exchange (BSE) on November 18. The offer price was Rs 2,150 but by afternoon the shares changed hands at 1,614 rupees a piece. The shares even hit lower circuit limit of 1,564 rupees. When a share hits this limit, BSE restricts purchases by investors to that price or higher. What happened? Paytm is the big fish in online payments market in India. Its backers include biggest names with deep pockets like SoftBank and Ant Group. The brand has high recognisability in India, the third-largest economy in Asia and a prominent global market. Then what went wrong with Paytm IPO? "Paytm's financials are not very impressive and the growth prospects seem limited... obviously the company lacks a clear path to profits," Shifara Samsudeen, a LightStream Research analyst told Reuters. Although Paytm's $2.5 billion offering was priced at the top of the indicative range, demand was much weaker than other recent stock sales, as Paytm has lost some market share to Google and Flipkart's PhonePe. The company reported a loss of 3.82 billion rupees ($51.5 million) in the quarter ended in June, wider than a loss of 2.84 billion rupees for the same period last year. It raised $1.1 billion from institutional investors and last week it received $2.64 billion worth of bids for the remaining shares on offer, or a relatively low oversubscription level of 1.89 times. Many market participants saw the stock's horrendous debut as a sign that investors had become disillusioned with a recent string of IPOs with inflated valuations. "Most of the domestic institutional investors appear to have skipped the IPO," Aequitas Research director Sumeet Singh was quoted by Reuters as saying. He said that the stock was offered at 27 times enterprise value/gross profit for fiscal 2024, more expensive than the 21.3 times for Zomato Ltd and 23 times for Sea Ltd. He also noted both Ant and SoftBank had cut their shares in the offering. Ant reduced its stake to 23% from 28% and SoftBank's Vision Fund pared its holding by 2.5 percentage points to 16%. Paytm's listing could bring "an end to obnoxious pricing in IPO markets", said Mumbai-based investment adviser Sandip Sabharwal. He was quoted by Reuters. Paytm's reaction to the IPO debacle Paytm founder and CEO Vijay Shekhar Sharma who was visibly crying with joy at the opening ceremony at the start of the trading maintained a brave face later in the day. "One day does not decide what our future is," he told Reuters. "It is new business model and it takes a lot for somebody to understand it straightforward... there is a lot for us to bring to the markets and the market participants." Paytm expects it could break even by late next year or early 2023, a source familiar with the matter told Reuters in July, though the company said in its prospectus it expected to make losses for the foreseeable future. (With inputs from agencies)

Paytm: India's largest IPO tanks on debut - what really happened?

Stock markets across globe got a boost after the news of troubled Chinese real-estate firm Evergrande making&nbsp;a surprise offshore interest payment a day before the weekend deadline. Breach of the deadline would have seen Evergrande plunging into a formal default.

"Equity markets are back on the rise as investors shrug off their recent concerns," noted Geir Lode at investment manager Federated Hermes. He was quoted by AFP.

Evergrande is a major real estate firm in China and carries USD 300 billion&nbsp;in debt. It has missed several bond interest payment deadlines recently and fears of default has kept global investors on&nbsp;edge. Since real estate sector forms a major part of Chinese economy there are fears that Evergrande's default would spill into the global economy.

On Friday, Evergrande's share price jumped more than four percent in Hong Kong, though that came a day after a drop of more than 12 percent sparked by its announcement that the planned sale of its property services unit had fallen through.

Also Read | <a href="https://www.wionews.com/trending/harambe-the-gorillas-statue-stands-in-the-way-of-charging-bull-on-wall-street-422666">Harambe the gorilla's statue stands in the way of Charging Bull on Wall Street</a>

Hong Kong's benchmark Hang Seng index rose 0.4% and closed at 26,126.9 points. China's blue-chip CSI300 index closed at 0.6% higher, while the Shanghai Composite Index erased earlier gains to end the session 0.3% lower.

In Japan, The benchmark Nikkei 225 index added 0.34 percent or 96.27 points to 28,804.85, a weekly loss of 0.91 percent.

The broader Topix index edged up 0.07 percent or 1.42 points to 2,002.23. Over the week, it declined 1.07 percent.

Though interest payment by Evergrande gave brief respite market watchers said it was unlikely that the company would be able to repay all interest and that the rebound was likely to be limited.

(With inputs from agencies)

Stock markets across globe got a boost after the news of troubled Chinese real-estate firm Evergrande making a surprise offshore interest payment a day before the weekend deadline.

Stock markets across globe got a boost after the news of troubled Chinese real-estate firm Evergrande making a surprise offshore interest payment a day before the weekend deadline. Breach of the deadline would have seen Evergrande plunging into a formal default. "Equity markets are back on the rise as investors shrug off their recent concerns," noted Geir Lode at investment manager Federated Hermes. He was quoted by AFP. Evergrande is a major real estate firm in China and carries USD 300 billion in debt. It has missed several bond interest payment deadlines recently and fears of default has kept global investors on edge. Since real estate sector forms a major part of Chinese economy there are fears that Evergrande's default would spill into the global economy. On Friday, Evergrande's share price jumped more than four percent in Hong Kong, though that came a day after a drop of more than 12 percent sparked by its announcement that the planned sale of its property services unit had fallen through. Also Read | Harambe the gorilla's statue stands in the way of Charging Bull on Wall Street Hong Kong's benchmark Hang Seng index rose 0.4% and closed at 26,126.9 points. China's blue-chip CSI300 index closed at 0.6% higher, while the Shanghai Composite Index erased earlier gains to end the session 0.3% lower. In Japan, The benchmark Nikkei 225 index added 0.34 percent or 96.27 points to 28,804.85, a weekly loss of 0.91 percent. The broader Topix index edged up 0.07 percent or 1.42 points to 2,002.23. Over the week, it declined 1.07 percent. Though interest payment by Evergrande gave brief respite market watchers said it was unlikely that the company would be able to repay all interest and that the rebound was likely to be limited. (With inputs from agencies)

Surprise interest payment from Evergrande boosts global markets

Punit&nbsp;Goenka will remain the&nbsp;Managing&nbsp;Director and Chief Executive&nbsp;Officer&nbsp;of&nbsp;the new entity created by the mega merger of&nbsp;Zee Entertainment Enterprises Ltd (ZEEL) and&nbsp;Sony Pictures Networks India (SPNI), it has been announced.

 
In fact, SPNI insisted on appointing Goenka as the CEO and MD of the merged entity. “It&nbsp;&nbsp;is &nbsp;an &nbsp;integral &nbsp;part&nbsp;of &nbsp;the &nbsp;proposed merger that Mr Punit&nbsp;Goenka continues to be the Managing Director and CEO of the merged&nbsp;entity,” the companies said in a press release.&nbsp;

&nbsp;

Also read:&nbsp;<a href="https://www.wionews.com/business-economy/zeel-board-gives-go-ahead-for-merger-with-sony-pictures-networks-india-414797">ZEEL board gives go-ahead for merger with Sony Pictures Networks India</a>

 
According to the term sheet, the promoter family is free&nbsp;&nbsp;to increase its shareholding from the current ~4% to up to 20%, in the &nbsp;normal course&nbsp;of business, the release said.&nbsp;

"The management of ZEEL, ably led by Mr Punit Goenka, continues to steadily work towards achieving higher profitability in line with its set goals for the future. With this corporate development, the merged entity will result into an accelerated growth and a significant opportunity to create tremendous value for all its stakeholders," it said.&nbsp;

Sony Pictures Entertainment, the parent company of SPNI, will infuse $1.575 billion in&nbsp;&nbsp; &nbsp;the merged entity.

&nbsp;

Disclaimer: Zee Entertainment is not our sister concern/ group company. Though our names sound similar, but our company is owned by Zee Media Corporation, which is a different group

Punit Goenka will remain the Managing Director and Chief Executive Officer of the new entity created by the mega merger of Zee Entertainment Enterprises Ltd (ZEEL) and Sony Pictures Networks India (SPNI), it has been announced.

Punit Goenka will remain the Managing Director and Chief Executive Officer of the new entity created by the mega merger of Zee Entertainment Enterprises Ltd (ZEEL) and Sony Pictures Networks India (SPNI), it has been announced. In fact, SPNI insisted on appointing Goenka as the CEO and MD of the merged entity. “It is an integral part of the proposed merger that Mr Punit Goenka continues to be the Managing Director and CEO of the merged entity,” the companies said in a press release. Also read: ZEEL board gives go-ahead for merger with Sony Pictures Networks India According to the term sheet, the promoter family is free to increase its shareholding from the current ~4% to up to 20%, in the normal course of business, the release said. "The management of ZEEL, ably led by Mr Punit Goenka, continues to steadily work towards achieving higher profitability in line with its set goals for the future. With this corporate development, the merged entity will result into an accelerated growth and a significant opportunity to create tremendous value for all its stakeholders," it said. Sony Pictures Entertainment, the parent company of SPNI, will infuse $1.575 billion in the merged entity. Disclaimer: Zee Entertainment is not our sister concern/ group company. Though our names sound similar, but our company is owned by Zee Media Corporation, which is a different group

Mega Merger: Punit Goenka to remain CEO and MD of ZEEL-Sony Pictures Networks India merged entity

The mega merger of Zee Entertainment Enterprises Ltd (ZEEL) and&nbsp;Sony Pictures Networks India (SPNI), will not only create the largest entity in Indian entertainment industry, but also be a boon for shareholders.&nbsp;

The combined entity will operate a network of 75 channels, which will account for around 26% viewership share. The parent company of SPNI is also infusing $1.57 billion into the merged group.

After evaluating financial parameters and strategic value that&nbsp;the partner bring to the table, the board of ZEEL concluded that the merger will be "in the best interest 
of all the shareholders and stakeholders," ZEEL said in a release.

&nbsp;

ALSO READ:&nbsp;<a href="https://www.wionews.com/business-economy/zeel-board-gives-go-ahead-for-merger-with-sony-pictures-networks-india-414797">ZEEL board gives go-ahead for merger with Sony Pictures Networks India</a>

"The merger is in line with ZEEL's strategy of achieving&nbsp;higher growth and profitability as a leading media &amp; entertainment company across South Asia," it said.

The indicative merger ratio would&nbsp;have been 61.25% in favour of ZEEL. However, with the proposed infusion of growth capital into&nbsp;SPNI, the resultant merger ratio is expected to result in 47.07% of the merged entity to be held&nbsp;by ZEEL shareholders and the balance 52.93% of the merged entity to be held by SPNI&nbsp;shareholders.&nbsp;

The merged entity will be a publicly listed company in India. ZEEL's Punit Goenka will remain the CEO and MD of the combined group.

&nbsp;

ALSO READ:&nbsp;<a href="https://www.wionews.com/business-economy/mega-merger-punit-goenka-to-remain-ceo-and-md-of-zeel-sony-pictures-networks-india-merged-entity-414803">Punit Goenka to remain CEO and MD of ZEEL-Sony Pictures Networks India merged entity</a>

ZEEL's strong expertise in content creation and its deep consumer connect established over the&nbsp;last 3 decades, coupled with SPNI's success across entertainment genres (including gaming and&nbsp;sports) will add significant value to the merged entity and its management team, thereby&nbsp;increasing shareholder value multifold, the companies said.&nbsp;

"The value of the merged entity and the immense synergies drawn 
between both the conglomerates will not only boost business growth but will also enable 
shareholders to benefit from its future successes."&nbsp; 
&nbsp;

Disclaimer: Zee Entertainment is not our sister concern/ group company. Though our names sound similar but our company is owned by Zee Media Corporation which is a different group

The mega merger of Zee Entertainment Enterprises Ltd (ZEEL) and Sony Pictures Networks India (SPNI), will not only create the largest entity in Indian entertainment industry, but also be a boon for shareholders.

The mega merger of Zee Entertainment Enterprises Ltd (ZEEL) and Sony Pictures Networks India (SPNI), will not only create the largest entity in Indian entertainment industry, but also be a boon for shareholders. The combined entity will operate a network of 75 channels, which will account for around 26% viewership share. The parent company of SPNI is also infusing $1.57 billion into the merged group. After evaluating financial parameters and strategic value that the partner bring to the table, the board of ZEEL concluded that the merger will be "in the best interest of all the shareholders and stakeholders," ZEEL said in a release. ALSO READ: ZEEL board gives go-ahead for merger with Sony Pictures Networks India "The merger is in line with ZEEL's strategy of achieving higher growth and profitability as a leading media & entertainment company across South Asia," it said. The indicative merger ratio would have been 61.25% in favour of ZEEL. However, with the proposed infusion of growth capital into SPNI, the resultant merger ratio is expected to result in 47.07% of the merged entity to be held by ZEEL shareholders and the balance 52.93% of the merged entity to be held by SPNI shareholders. The merged entity will be a publicly listed company in India. ZEEL's Punit Goenka will remain the CEO and MD of the combined group. ALSO READ: Punit Goenka to remain CEO and MD of ZEEL-Sony Pictures Networks India merged entity ZEEL's strong expertise in content creation and its deep consumer connect established over the last 3 decades, coupled with SPNI's success across entertainment genres (including gaming and sports) will add significant value to the merged entity and its management team, thereby increasing shareholder value multifold, the companies said. "The value of the merged entity and the immense synergies drawn between both the conglomerates will not only boost business growth but will also enable shareholders to benefit from its future successes." Disclaimer: Zee Entertainment is not our sister concern/ group company. Though our names sound similar but our company is owned by Zee Media Corporation which is a different group

ZEEL-Sony Pictures: Mega merger to create India's biggest entertainment entity is a win-win for shareholders

The ZEE Entertainment Enterprises Limited (ZEEL) Board of Directors, present and voting at its board meeting on September 21, 2021, unanimously approved the merger between Sony Pictures Networks India (SPNI) and ZEEL.&nbsp;

The Board considered not just the financial aspects of the partnership, but also the strategic value it brings to the table.

The Board came to the conclusion that the merger would benefit all shareholders and stakeholders.&nbsp;

Punit Goenka will continue as the Managing Director (MD) and Chief Executive Officer (CEO) after the merger of Zee Entertainment and Sony Pictures India. &nbsp; 
 
Also read:&nbsp;<a href="https://www.wionews.com/business-economy/zeel-board-gives-go-ahead-for-merger-with-sony-pictures-networks-india-414797">ZEEL board gives go-ahead for merger with Sony Pictures Networks India</a>

Talking about the mega-merger deal, Goenka said: “The mega-merger between ZEE Entertainment Enterprises Limited and Sony Pictures Networks India will create the largest media and entertainment company in India. The merger will create close to $2 billion in revenue.” &nbsp;

He also stated that the combined business will be valued at $1.6 billion in cash. In the mega-merger, ZEEL will own 47 percent of the company. There will also be a non-binding term sheet with a 90-day mutual diligence period.”

Sony will have the opportunity to designate new promoters to the board, according to Goenka. The new board of the amalgamated firm will decide on fund infusion avenues.”&nbsp;

He also asserted that the overlaps are largely in the Hindi GEC space. However, the objective is to maximise viewership. The MD also mentioned that no open offer is required in a merger. &nbsp;

Goenka further added that the channel rationalisation call will be taken by the board of the merged entity. Similarly, the capital allocation strategy will also be taken by the board. &nbsp;&nbsp;

He mentioned that “We will first optimise revenue from the merged entity and then cost.” 
 
(Disclaimer: Zee Entertainment is not our sister concern/ group company. Though our names sound similar, but our company is owned by Zee Media Corporation, which is a different group)

The ZEE Entertainment Enterprises Limited (ZEEL) Board of Directors, present and voting at its board meeting on September 21, 2021, unanimously approved the merger between Sony Pictures Networks India (SPNI) and ZEEL.

The ZEE Entertainment Enterprises Limited (ZEEL) Board of Directors, present and voting at its board meeting on September 21, 2021, unanimously approved the merger between Sony Pictures Networks India (SPNI) and ZEEL. The Board considered not just the financial aspects of the partnership, but also the strategic value it brings to the table. The Board came to the conclusion that the merger would benefit all shareholders and stakeholders. Punit Goenka will continue as the Managing Director (MD) and Chief Executive Officer (CEO) after the merger of Zee Entertainment and Sony Pictures India. Also read: ZEEL board gives go-ahead for merger with Sony Pictures Networks India Talking about the mega-merger deal, Goenka said: “The mega-merger between ZEE Entertainment Enterprises Limited and Sony Pictures Networks India will create the largest media and entertainment company in India. The merger will create close to $2 billion in revenue.” He also stated that the combined business will be valued at $1.6 billion in cash. In the mega-merger, ZEEL will own 47 percent of the company. There will also be a non-binding term sheet with a 90-day mutual diligence period.” Sony will have the opportunity to designate new promoters to the board, according to Goenka. The new board of the amalgamated firm will decide on fund infusion avenues.” He also asserted that the overlaps are largely in the Hindi GEC space. However, the objective is to maximise viewership. The MD also mentioned that no open offer is required in a merger. Goenka further added that the channel rationalisation call will be taken by the board of the merged entity. Similarly, the capital allocation strategy will also be taken by the board. He mentioned that “We will first optimise revenue from the merged entity and then cost.” (Disclaimer: Zee Entertainment is not our sister concern/ group company. Though our names sound similar, but our company is owned by Zee Media Corporation, which is a different group)

ZEEL-Sony Pictures: Mega-merger deal will create close to $2 billion in revenue, says MD & CEO Punit Goenka

India might soon expand its market value by $400 billion, with Indian start-ups generating $10 billion through IPOs so far in 2021 and 150 private companies lining up to list on the country's stock exchange, Goldman Sachs has predicted.

According to the investment bank, India's stock market has already raised more money this year than it has in the previous three years.

According to analysts, investor interest will remain strong, boosting the country's market capitalisation to $5 trillion by 2024, up from $3.5 trillion now.

This would effectively make India's stock market the world's fifth largest, knocking the United Kingdom out of the top five.&nbsp; 
 
<a href="https://www.wionews.com/business-economy/indias-wpi-inflation-rose-in-august-over-costlier-manufactured-goods-412956">Also read | India's WPI inflation rose in August over costlier manufactured goods</a>

Several prominent technology start-ups in India have recently announced aspirations to go public.

The Indian insurance business Life Insurance Corp (LIC) is planning an initial public offering (IPO) next year with a valuation of more than $250 billion, making it the country's largest IPO to date.

MapmyIndia, a prominent Indian tech company, is also planning an IPO in the coming months.

The mapping firm, which feeds data to Apple Maps and Amazon's Alexa, is looking for a $825 million IPO price.

Food delivery company Zomato, payments behemoth Paytm, ride-hailing startup Ola, and e-commerce behemoth Flipkart are among the prominent names already on the list.&nbsp;

Analysts at Goldman Sachs predict that in future years, so-called "new economy" industries such as e-commerce, the internet, online retail, and the media will join India's stock market, while commodity and software services firms will be less visible.&nbsp;

(With inputs from agencies)

India might soon expand its market value by $400 billion, with Indian start-ups generating $10 billion through IPOs so far in 2021 and 150 private companies lining up to list on the country's stock exchange, Goldman Sachs has predicted.

India might soon expand its market value by $400 billion, with Indian start-ups generating $10 billion through IPOs so far in 2021 and 150 private companies lining up to list on the country's stock exchange, Goldman Sachs has predicted. According to the investment bank, India's stock market has already raised more money this year than it has in the previous three years. According to analysts, investor interest will remain strong, boosting the country's market capitalisation to $5 trillion by 2024, up from $3.5 trillion now. This would effectively make India's stock market the world's fifth largest, knocking the United Kingdom out of the top five. Also read | India's WPI inflation rose in August over costlier manufactured goods Several prominent technology start-ups in India have recently announced aspirations to go public. The Indian insurance business Life Insurance Corp (LIC) is planning an initial public offering (IPO) next year with a valuation of more than $250 billion, making it the country's largest IPO to date. MapmyIndia, a prominent Indian tech company, is also planning an IPO in the coming months. The mapping firm, which feeds data to Apple Maps and Amazon's Alexa, is looking for a $825 million IPO price. Food delivery company Zomato, payments behemoth Paytm, ride-hailing startup Ola, and e-commerce behemoth Flipkart are among the prominent names already on the list. Analysts at Goldman Sachs predict that in future years, so-called "new economy" industries such as e-commerce, the internet, online retail, and the media will join India's stock market, while commodity and software services firms will be less visible. (With inputs from agencies)

Goldman Sachs says India could surpass the UK as the world’s 5th largest stock market by 2024

On Monday, the Indian stock market indices, the Sensex and Nifty, closed at all-time highs.

The Sensex ended the day at 56,889.76, up 765.04 points or 1.36 percent, while the Nifty closed at 16,931.05, up 225.85 points or 1.35 percent.

During the day's trading, the Sensex reached a high of 56,958.27, while the Nifty reached a high of 16,951.50.

This week, India's gross domestic product (GDP) data for the June quarter is at the top of the agenda.

The purchasing managers' indices (PMI) for August are also due, and will serve as the most recent report card on the progress of Indian businesses' recovery.

In other news, the eurozone and China's PMI data will be closely scrutinised.

The top index gainers included Bharti Airtel, Axis Bank, Tata Steel, Titan Company, Maruti Suzuki, Bajaj Finance, State Bank of India (SBI), Asian Paints, and RIL, among others.

On the other hand, Sensex laggards included Nestle India, Tech Mahindra, Infosys, and Tata Consultancy Services (TCS).

(With inputs from agencies)

On Monday, the Indian stock market indices, the Sensex and Nifty, closed at all-time highs. The Sensex ended the day at 56,889.76, up 765.04 points or 1.36 percent, while the Nifty closed at 16,931.

On Monday, the Indian stock market indices, the Sensex and Nifty, closed at all-time highs. The Sensex ended the day at 56,889.76, up 765.04 points or 1.36 percent, while the Nifty closed at 16,931.05, up 225.85 points or 1.35 percent. During the day's trading, the Sensex reached a high of 56,958.27, while the Nifty reached a high of 16,951.50. This week, India's gross domestic product (GDP) data for the June quarter is at the top of the agenda. The purchasing managers' indices (PMI) for August are also due, and will serve as the most recent report card on the progress of Indian businesses' recovery. In other news, the eurozone and China's PMI data will be closely scrutinised. The top index gainers included Bharti Airtel, Axis Bank, Tata Steel, Titan Company, Maruti Suzuki, Bajaj Finance, State Bank of India (SBI), Asian Paints, and RIL, among others. On the other hand, Sensex laggards included Nestle India, Tech Mahindra, Infosys, and Tata Consultancy Services (TCS). (With inputs from agencies)

Indian Stock market closes at record high: Sensex soars 765.04 points to fresh closing peak

On August 20, weak global cues pulled benchmark indexes down.

The S&amp;P BSE Sensex fell 300 points to 55,329 points, while the Nifty50 fell 118 points to 16,450 points.

Tata Steel was the top &nbsp;Sensex loser, plunging over 8 per cent, followed by SBI, Dr Reddy's, Kotak Bank, Sun Pharma, Bajaj Auto and L&amp;T.

The idea of the Federal Reserve reducing down on bond purchases frightened investors, according to a Reuters article. Asian markets extended losses on a strong dollar, which is at a nine-month high, after the prospect of the Fed pulling back on bond purchases spooked investors.&nbsp;

Except for the measure of FMCG shares, all 15 sector gauges ended down, driven by the Nifty Metal index's nearly 6% drop.

The Nifty Realty, Healthcare, Private Bank, Oil &amp; Gas, PSU Bank, Auto, and Bank indices all dropped 1.5 to 4%.&nbsp;

(With inputs from agencies)

On August 20, weak global cues pulled benchmark indexes down. The S&P BSE Sensex fell 300 points to 55,329 points, while the Nifty50 fell 118 points to 16,450 points.

On August 20, weak global cues pulled benchmark indexes down. The S&P BSE Sensex fell 300 points to 55,329 points, while the Nifty50 fell 118 points to 16,450 points. Tata Steel was the top Sensex loser, plunging over 8 per cent, followed by SBI, Dr Reddy's, Kotak Bank, Sun Pharma, Bajaj Auto and L&T. The idea of the Federal Reserve reducing down on bond purchases frightened investors, according to a Reuters article. Asian markets extended losses on a strong dollar, which is at a nine-month high, after the prospect of the Fed pulling back on bond purchases spooked investors. Except for the measure of FMCG shares, all 15 sector gauges ended down, driven by the Nifty Metal index's nearly 6% drop. The Nifty Realty, Healthcare, Private Bank, Oil & Gas, PSU Bank, Auto, and Bank indices all dropped 1.5 to 4%. (With inputs from agencies)

Sensex ends 300 points lower 55329, Nifty closes at 16450

The Sensex and Nifty closed the day higher on Thursday, boosted by advances in metals and IT companies amid favourable global cues.

The surge was supported by broader indexes, midcap and smallcap indices, which each gained over half a per cent.&nbsp;

Nifty Metal led all sector indexes with a gain of over 5%, followed by IT, PSU Bank, and realty indices.

The Nifty FMCG, Nifty Auto, and Nifty Pharma sectors all finished with losses.&nbsp;

The S&amp;P BSE Sensex gained 209 points, or 0.4 per cent, to end at 52,653 levels, led by Tata Steel (up 6.8 per cent), Bajaj twins, SBI, HCL Tech, and Sun Pharma.&nbsp;

It's NSE counterpart, Nifty50, meanwhile, ended tad below 15,800-mark at 15,779, up 69 points. The BSE Mid- and SmallCap indices, too, added 0.39 per cent and 0.90 per cent, respectively.

(With inputs from agencies)

The Sensex and Nifty closed the day higher on Thursday, boosted by advances in metals and IT companies amid favourable global cues. The surge was supported by broader indexes, midcap and smallcap indices, which each gained over half a per cent.

The Sensex and Nifty closed the day higher on Thursday, boosted by advances in metals and IT companies amid favourable global cues. The surge was supported by broader indexes, midcap and smallcap indices, which each gained over half a per cent. Nifty Metal led all sector indexes with a gain of over 5%, followed by IT, PSU Bank, and realty indices. The Nifty FMCG, Nifty Auto, and Nifty Pharma sectors all finished with losses. The S&P BSE Sensex gained 209 points, or 0.4 per cent, to end at 52,653 levels, led by Tata Steel (up 6.8 per cent), Bajaj twins, SBI, HCL Tech, and Sun Pharma. It's NSE counterpart, Nifty50, meanwhile, ended tad below 15,800-mark at 15,779, up 69 points. The BSE Mid- and SmallCap indices, too, added 0.39 per cent and 0.90 per cent, respectively. (With inputs from agencies)

Sensex, Nifty end with decent gains led by metals, IT stocks

Benchmark indices ended lower in the volatile trade on July 26 with Nifty below 15,850.

The 30-share BSE barometer closed at 52,852 levels, down 123.5 points or 0.23 per cent, while its NSE counterpart shut shop 32 points or 0.2 per cent lower at 15,824-mark. The broader markets, however, outperformed the frontline indices with the BSE MidCap and SmallCap indices adding 0.06 per cent and 0.34 per cent, respectively.

The Nifty energy index fell 1%, while the bank, auto, and PSU Bank indices also finished lower.

However, there was modest buying in the metal, pharmaceutical, and information technology sectors.&nbsp;

Indian rupee ended flat at 74.40 per dollar, amid volatile trade saw in the domestic equity market.

It opened marginally lower at 74.46 per dollar against Friday's close of 74.40 and traded in the range of 74.40-74.52.

(With inputs from agencies)

Benchmark indices ended lower in the volatile trade on July 26 with Nifty below 15,850. The 30-share BSE barometer closed at 52,852 levels, down 123.5 points or 0.

Benchmark indices ended lower in the volatile trade on July 26 with Nifty below 15,850. The 30-share BSE barometer closed at 52,852 levels, down 123.5 points or 0.23 per cent, while its NSE counterpart shut shop 32 points or 0.2 per cent lower at 15,824-mark. The broader markets, however, outperformed the frontline indices with the BSE MidCap and SmallCap indices adding 0.06 per cent and 0.34 per cent, respectively. The Nifty energy index fell 1%, while the bank, auto, and PSU Bank indices also finished lower. However, there was modest buying in the metal, pharmaceutical, and information technology sectors. Indian rupee ended flat at 74.40 per dollar, amid volatile trade saw in the domestic equity market. It opened marginally lower at 74.46 per dollar against Friday's close of 74.40 and traded in the range of 74.40-74.52. (With inputs from agencies)

Sensex, Nifty end lower amid volatility

At a time Indian markets are hovering around new peaks, we talk to experts to ask them if the markets are overvalued, is it a bubble waiting to burst, or is this a rally driven by strong fundamentals. We also ask experts about the potential of Indian unicorns that are trying to unlock value through the listing.

Are stock markets overvalued? Will it be easy to pass the market bubble?

The Sensex and Nifty indices in India finished flat on Friday, weighed down by losses in IT and financial companies amid negative global cues.

The midcap and smallcap indices both closed higher than the benchmarks, indicating that broader markets beat the benchmarks.

The Nifty IT, Nifty Bank, and Nifty Financial Services indices all fell, while the pharma, metal, real estate, and FMCG indices all rose.&nbsp;

Today's tumultuous trade saw the benchmark S&amp;P BSE Sensex close 19 points lower at 53,140, while the broader Nifty50 closed at 15,923, down 1 point.

In the intra-day session, both indices achieved lifetime highs of 53,291 and 15,962, respectively.&nbsp;

(With inputs from agencies) 
&nbsp;

The Sensex and Nifty indices in India finished flat on Friday, weighed down by losses in IT and financial companies amid negative global cues. The midcap and smallcap indices both closed higher than the benchmarks, indicating that broader markets beat the benchmarks.

The Sensex and Nifty indices in India finished flat on Friday, weighed down by losses in IT and financial companies amid negative global cues. The midcap and smallcap indices both closed higher than the benchmarks, indicating that broader markets beat the benchmarks. The Nifty IT, Nifty Bank, and Nifty Financial Services indices all fell, while the pharma, metal, real estate, and FMCG indices all rose. Today's tumultuous trade saw the benchmark S&P BSE Sensex close 19 points lower at 53,140, while the broader Nifty50 closed at 15,923, down 1 point. In the intra-day session, both indices achieved lifetime highs of 53,291 and 15,962, respectively. (With inputs from agencies)

Sensex and Nifty ended flat dragged by losses in IT and banking

Global markets are once again touching new highs, US markets are at a record high already. There are multiple risks that are being faced by economies as well. What is the outlook for global economies and what is the way ahead? Daily Effects Strategist from Asian Financial Hub Singapore, Margaret Yang Yen talks to WION on these issues.

Global stock markets likely to be range bound says Margaret Yang, Strategist DailyFX

The domestic stock market indices ended higher on Monday, boosted by metals and financials, as investors hoped for a strong corporate earnings season. The sentiment was also lifted on the back of more availability of COVID-19 vaccine doses.

The Sensex rose as much as 416 points and Nifty 50 index touched an intraday high of 15,845.

The Sensex ended 395 points or 0.75 per cent to close at 52,880 and Nifty 50 index climbed 112 points to close at 15,834.

The broader markets were also higher with the midcap and smallcap indices up 0.5 percent and 0.8 percent, respectively.

Meanwhile, Indian rupee ended higher by 43 paise at 74.31 per dollar, amid buying saw in the domestic equity market. It opened 22 paise higher at 74.52 per dollar against Friday's close of 74.74 and traded in the range of 74.30-74.55.

(With inputs from agencies)

The domestic stock market indices ended higher on Monday, boosted by metals and financials, as investors hoped for a strong corporate earnings season. The sentiment was also lifted on the back of more availability of COVID-19 vaccine doses.

The domestic stock market indices ended higher on Monday, boosted by metals and financials, as investors hoped for a strong corporate earnings season. The sentiment was also lifted on the back of more availability of COVID-19 vaccine doses. The Sensex rose as much as 416 points and Nifty 50 index touched an intraday high of 15,845. The Sensex ended 395 points or 0.75 per cent to close at 52,880 and Nifty 50 index climbed 112 points to close at 15,834. The broader markets were also higher with the midcap and smallcap indices up 0.5 percent and 0.8 percent, respectively. Meanwhile, Indian rupee ended higher by 43 paise at 74.31 per dollar, amid buying saw in the domestic equity market. It opened 22 paise higher at 74.52 per dollar against Friday's close of 74.74 and traded in the range of 74.30-74.55. (With inputs from agencies)

Sensex zooms 395 points amid buying in realty, bank stocks; Nifty above 15,800

In the face of mixed global indications, India's stock market indices, the Sensex and Nifty closed higher on Thursday, led by robust gains in the IT and metal sectors. 
Broader markets ended mixed, with the midcap index falling and the smallcap index rising marginally.&nbsp;

Sensex ended up 392.92 points or 0.75% at 52699.00, and the Nifty jumped 103.50 points or 0.66% at 15790.50.&nbsp;

IT stocks rallied led by TCS, Infosys and Tech Mahindra. On the other hand, Reliance Industries, Coal India and Indian Oil Corporation are the top losers. About 1415 shares have advanced, 1717 shares declined, and 135 shares are unchanged.

Among the sectors, Nifty IT jumped over 2 per cent followed by metals and banks. Pharma and energy stocks dragged the most.

(With inputs from agencies)

In the face of mixed global indications, India's stock market indices, the Sensex and Nifty closed higher on Thursday, led by robust gains in the IT and metal sectors.

In the face of mixed global indications, India's stock market indices, the Sensex and Nifty closed higher on Thursday, led by robust gains in the IT and metal sectors. Broader markets ended mixed, with the midcap index falling and the smallcap index rising marginally. Sensex ended up 392.92 points or 0.75% at 52699.00, and the Nifty jumped 103.50 points or 0.66% at 15790.50. IT stocks rallied led by TCS, Infosys and Tech Mahindra. On the other hand, Reliance Industries, Coal India and Indian Oil Corporation are the top losers. About 1415 shares have advanced, 1717 shares declined, and 135 shares are unchanged. Among the sectors, Nifty IT jumped over 2 per cent followed by metals and banks. Pharma and energy stocks dragged the most. (With inputs from agencies)

Sensex jumps 393 points, Nifty ends above 15,750 led by IT, metals

Indian stock markets began the day at or near all-time highs, but witnessed turbulence during the dying hours of trade.&nbsp;

BSE Sensex hit a fresh record high of 53,057 level in early deals but pared gains to end at 52,589 levels, up 14 points or 0.03 per cent. On the NSE, the Nifty50 index ended at 15,773 levels, up 26 points or 0.17 per cent.

In the broader market, small-cap stocks dazzled on the bourses and ended 0.83 cent higher on the BSE while the BSE MidCap index closed 0.33 per cent up.

Global markets

European shares gave up early gains on Tuesday, with growth-linked technology and healthcare stocks leading declines, as signs of rising inflation fanned fears of a sooner-than-expected tightening in global monetary policies. The pan-European STOXX 600 was down 0.1 per cent.&nbsp;

Meanwhile, Futures of all three main Wall Street indices indicated at a flat-to-negative start later today.

Earlier in Asia, Japan's Nikkei zoomed over 3 per cent, South Korea's Kospi added 0.7 per cent, and China's Shanghai Composite rallied 0.8 per cent.&nbsp;

(With inputs from Reuters)

Indian stock markets began the day at or near all-time highs, but witnessed turbulence during the dying hours of trade. BSE Sensex hit a fresh record high of 53,057 level in early deals but pared gains to end at 52,589 levels, up 14 points or 0.

Indian stock markets began the day at or near all-time highs, but witnessed turbulence during the dying hours of trade. BSE Sensex hit a fresh record high of 53,057 level in early deals but pared gains to end at 52,589 levels, up 14 points or 0.03 per cent. On the NSE, the Nifty50 index ended at 15,773 levels, up 26 points or 0.17 per cent. In the broader market, small-cap stocks dazzled on the bourses and ended 0.83 cent higher on the BSE while the BSE MidCap index closed 0.33 per cent up. Global markets European shares gave up early gains on Tuesday, with growth-linked technology and healthcare stocks leading declines, as signs of rising inflation fanned fears of a sooner-than-expected tightening in global monetary policies. The pan-European STOXX 600 was down 0.1 per cent. Meanwhile, Futures of all three main Wall Street indices indicated at a flat-to-negative start later today. Earlier in Asia, Japan's Nikkei zoomed over 3 per cent, South Korea's Kospi added 0.7 per cent, and China's Shanghai Composite rallied 0.8 per cent. (With inputs from Reuters)

Sensex ends flat with positive bias, Nifty closes at 15,772.75

Indian stock market indices BSE Sensex and Nifty 50 ended over half a per cent down on Thursday, a day of weekly options expiry.&nbsp;

BSE Sensex fell 179 points or 0.34 per cent to 52,323.33, while the broader Nifty 50 index lost 76 points or 0.48 per cent to settle at 15,691.&nbsp;

The NSE's Nifty 50 index breached below its immediate support of 15,650 and hit a low of 15,616. It recovered marginally to end at 15,691 levels, down 76 points or 0.48 per cent.

Global markets

Global stock markets were mostly lower Thursday after the Federal Reserve indicated it might ease off economic stimulus earlier than previously thought.

In Asia, the Nikkei 225 in Tokyo lost 0.9 per cent, South Korea's Kospi and Australia's S&amp;P-ASX 200 shed 0.4 per cent each. China's Shanghai Composite Index, on the contrary, rose 0.2 per cent while Hong Kong's Hang Seng added 0.4 per cent.

(With inputs from agencies)

Indian stock market indices BSE Sensex and Nifty 50 ended over half a per cent down on Thursday, a day of weekly options expiry. BSE Sensex fell 179 points or 0.

Indian stock market indices BSE Sensex and Nifty 50 ended over half a per cent down on Thursday, a day of weekly options expiry. BSE Sensex fell 179 points or 0.34 per cent to 52,323.33, while the broader Nifty 50 index lost 76 points or 0.48 per cent to settle at 15,691. The NSE's Nifty 50 index breached below its immediate support of 15,650 and hit a low of 15,616. It recovered marginally to end at 15,691 levels, down 76 points or 0.48 per cent. Global markets Global stock markets were mostly lower Thursday after the Federal Reserve indicated it might ease off economic stimulus earlier than previously thought. In Asia, the Nikkei 225 in Tokyo lost 0.9 per cent, South Korea's Kospi and Australia's S&P-ASX 200 shed 0.4 per cent each. China's Shanghai Composite Index, on the contrary, rose 0.2 per cent while Hong Kong's Hang Seng added 0.4 per cent. (With inputs from agencies)

Sensex slips 179 points, Nifty below 15,700

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