Tesla's stock is losing value day after day. Its boss Tesla's Chief Executive Elon Musk addressed employees telling them that they should not be bothered by the stock market's craziness.

World Business Watch: Tesla's stock losing value with a fall of nearly 70% this year

British inflation declined much more rapidly than anticipated in November to 10.7 per cent&nbsp;from the 41-year high of 11.1 per cent according to official consumer pricing data, which may provide some comfort to the Bank of England and hard-pressed households. Consumer price inflation was expected to fall to 10.9 per cent as per economists surveyed by Reuters. Last month, both the US&nbsp;and Euro zone inflation rates dropped far more sharply than expected, fuelling hopes that the current inflation wave may have reached its apex.&nbsp;

"Prices are still rising, but by less than this time last year with the most notable example of this being motor fuels," the Office for National Statistics' chief economist, Grant Fitzner told Reuters.&nbsp;

The Bank of England ( BoE) has&nbsp;sharply increased interest rates over the past 12 months in an effort to tackle&nbsp;inflation that is significantly higher than its two per cent&nbsp;target. Most economists anticipate that it will increase rates once again on Thursday, to 3.5 per cent&nbsp;from three&nbsp;per cent.&nbsp;

Also read |&nbsp;<a href="https://www.wionews.com/world/boat-carrying-migrants-sinks-off-english-coast-at-least-three-dead-reports-543003">UK: Boat carrying migrants sinks off English Coast, four dead</a>

The government's budget watchdog anticipated the worst pressure on living standards since records began in the 1950s, while the BoE forecasted that Britain will enter a protracted recession with inflation not returning to target until early 2024.

Also watch |&nbsp;UK PM Rishi Sunak announces crackdown on Albanian illegal migrants

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British inflation started to take shape&nbsp;last year, mostly driven by post-pandemic congestion&nbsp;in the domestic and global economy, and accelerated&nbsp;particularly when European energy prices surged after Russia's February invasion of Ukraine. The BoE has also shed light&nbsp;labour shortages and trade and migration frictions due to Brexit as playing a role in pushing up prices.

(With inputs from agencies)

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British inflation declined much more rapidly than anticipated in November to 10.7 per cent from the 41-year high of 11.1 per cent according to official consumer pricing data, which may provide some comfort to the Bank of England and hard-pressed households.

British inflation declined much more rapidly than anticipated in November to 10.7 per cent from the 41-year high of 11.1 per cent according to official consumer pricing data, which may provide some comfort to the Bank of England and hard-pressed households. Consumer price inflation was expected to fall to 10.9 per cent as per economists surveyed by Reuters. Last month, both the US and Euro zone inflation rates dropped far more sharply than expected, fuelling hopes that the current inflation wave may have reached its apex. "Prices are still rising, but by less than this time last year with the most notable example of this being motor fuels," the Office for National Statistics' chief economist, Grant Fitzner told Reuters. The Bank of England ( BoE) has sharply increased interest rates over the past 12 months in an effort to tackle inflation that is significantly higher than its two per cent target. Most economists anticipate that it will increase rates once again on Thursday, to 3.5 per cent from three per cent. Also read | UK: Boat carrying migrants sinks off English Coast, four dead The government's budget watchdog anticipated the worst pressure on living standards since records began in the 1950s, while the BoE forecasted that Britain will enter a protracted recession with inflation not returning to target until early 2024. Also watch | UK PM Rishi Sunak announces crackdown on Albanian illegal migrants British inflation started to take shape last year, mostly driven by post-pandemic congestion in the domestic and global economy, and accelerated particularly when European energy prices surged after Russia's February invasion of Ukraine. The BoE has also shed light labour shortages and trade and migration frictions due to Brexit as playing a role in pushing up prices. (With inputs from agencies) WATCH WION LIVE HERE:

UK inflation declines from 41-year high but food prices continue the upswing

US software giant Microsoft will buy a four-percent stake in the London Stock Exchange Group under a new IT services tie-up. Watch this video to know more.

WION Dispatch: Microsoft to acquire four-percent stake in London Stock Exchange

A secret service report says, Chinese hackers have stolen tens of millions of dollars worth of US Covid relief benefits since 2020. The secret service declined to provide any other details.

World Business Watch | Chinese hackers stole millions worth of US Covid relief benefits: Report

According to a group of computer-chip manufacturers the global semiconductor market is expected to shrink in 2023 for the first time in four years, following a surge during the pandemic.

World Business Watch | Global semiconductor markets expected to shrink in 2023

Automakers see higher month-on-month sales in October this year aided by discounts as consumers are coming out in good numbers. Watch this video to know more.

Festive season brings cheer to India auto firms

On Friday, global and European markets increased as Wall Street continued to rise amid expectations that certain central banks will scale down their rate hikes.&nbsp;

A rising US&nbsp;dollar reduced the value of commodities. Following the expansion of Covid limitations by top crude importer China, oil prices fell.&nbsp;

The STOXX index for Europe recovered from session lows of as much as 1.1 per cent&nbsp;to close up 0.1 per cent&nbsp;at a five-week high. Prior to that, Amazon's disappointing estimates on Thursday hurt the tech sector in Europe, while the possibility of further Covid&nbsp;restrictions in China hurt mining and oil companies.

The 47-country MSCI main global index increased by 0.92 per cent. It gained for a second week in a row as investors processed conflicting earnings and economic data.&nbsp;

By 1:52 pm&nbsp;ET, the Dow Jones Industrial Average had increased by 2.43 per cent. (1752 GMT). The Nasdaq Composite increased 2.42 per cent&nbsp;and the S&amp;P 500 increased 2.14 per cent, with advances in Apple due to positive results countering Amazon's sombre warning.&nbsp;

Also Read:<a href="https://www.wionews.com/world/let-the-good-times-roll-musk-says-after-becoming-the-new-twitter-boss-529241">&nbsp;‘Let the good times roll’: Musk says after becoming the new Twitter boss</a>

"This stock market clearly wants to go higher and is growing confident that next week's Fed-driven fireworks will include the beginning of a deliberation to tighten at a slower pace," said Edward Moya, senior market analyst at OANDA in New York.

Consumer spending in the United States rose more than anticipated in September, and the Federal Reserve is on course to raise interest rates by 75 basis points for the fourth time this year. At the same time, underlying inflation pressures continued to soar.

(with inputs from agencies)

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On Friday, global and European markets increased as Wall Street continued to rise amid expectations that certain central banks will scale down their rate hikes. A rising US dollar reduced the value of commodities.

On Friday, global and European markets increased as Wall Street continued to rise amid expectations that certain central banks will scale down their rate hikes. A rising US dollar reduced the value of commodities. Following the expansion of Covid limitations by top crude importer China, oil prices fell. The STOXX index for Europe recovered from session lows of as much as 1.1 per cent to close up 0.1 per cent at a five-week high. Prior to that, Amazon's disappointing estimates on Thursday hurt the tech sector in Europe, while the possibility of further Covid restrictions in China hurt mining and oil companies. The 47-country MSCI main global index increased by 0.92 per cent. It gained for a second week in a row as investors processed conflicting earnings and economic data. By 1:52 pm ET, the Dow Jones Industrial Average had increased by 2.43 per cent. (1752 GMT). The Nasdaq Composite increased 2.42 per cent and the S&P 500 increased 2.14 per cent, with advances in Apple due to positive results countering Amazon's sombre warning. Also Read: ‘Let the good times roll’: Musk says after becoming the new Twitter boss "This stock market clearly wants to go higher and is growing confident that next week's Fed-driven fireworks will include the beginning of a deliberation to tighten at a slower pace," said Edward Moya, senior market analyst at OANDA in New York. Consumer spending in the United States rose more than anticipated in September, and the Federal Reserve is on course to raise interest rates by 75 basis points for the fourth time this year. At the same time, underlying inflation pressures continued to soar. (with inputs from agencies)

Wall Street's upswing lifts global and European markets while oil prices decline

While Russia-Ukraine war clouds are becoming darker, the partial military mobilisation announcement is giving a boost to defence stocks. The shares jumped on expectations of higher spending.

World Business Watch: Defence stocks beat global stock markets as Putin order troop mobilisation

World's 500 richest people lost $1.4 trillion in first six months of 2022. As per the reports, this is the steepest six-month drop in wealth for billionaires.

WION Fineprint | Crash in stock markets: Worst half year for billionaires

A succession of weak data releases in Europe and the United States as global stock markets slipped for the second straight day on Wednesday and bond yields inched lower on growing fears that policymakers bent on dampening inflation will tip their economies into recession, as reported by Reuters.

The central bankers are doubling down on hawkish rhetoric. More is likely later on Wednesday when the heads of the European Central Bank, U.S. Federal Reserve and Bank of England speak at a central banking forum. 
Data on Tuesday showed U.S. consumer confidence dropped to a 16-month low in June, yet several Fed policymakers pledged further rapid interest-rate hikes, citing the need to tame “unbridled” inflation. Those U.S. figures, following a raft of dismal consumer confidence data across Europe, triggered steep Wall Street falls, sending the S&amp;P 500 and the Nasdaq indexes down 2% and 3% respectively.

That weaker momentum carried into Wednesday, sending an Asian ex-Japan index 1.4% lower, while a pan- European equity index eased 0.3%, snapping a three-day rally. U.S. and German 10-year bond yields slipped 5-6 basis points, the former down more than 30 bps from mid-June highs.

The consumer sentiment deterioration clearly points to a recession, Citi told clients. After 7.5%-7.9% annual inflation prints across German provinces, an 8% June reading is expected for the country later in the day, versus 7.9% in May.

As reported by Reuters, Paul O’Connor, head of Janus Henderson’s multi-asset team in London, predicted “stormy” markets as long as the growth- inflation question marks persisted.

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“The problem is that the level of inflation is so problematic in so many parts of the world and we are a long way from central banks being able to declare the job is done,” O’Connor said.

“We will undoubtedly get growth downgrades over the summer but we will also get a rising perception of recession risk and I don’t think markets are fully priced for it,” he added.

While parts of the Chinese stock market, including property, extended gains on Wednesday, the positive impact of the news largely petered out - the Chinese blue-chip, which hit four-month highs on Tuesday, slumped 1.5% and Hong Kong lost 2%.

Wall Street futures flatlined.

(with inputs from agencies) 
&nbsp;

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A succession of weak data releases in Europe and the United States as global stock markets slipped for the second straight day on Wednesday and bond yields inched lower on growing fears that policymakers bent on dampening inflation will tip their economies into recession, as reported by Reuters.

A succession of weak data releases in Europe and the United States as global stock markets slipped for the second straight day on Wednesday and bond yields inched lower on growing fears that policymakers bent on dampening inflation will tip their economies into recession, as reported by Reuters. The central bankers are doubling down on hawkish rhetoric. More is likely later on Wednesday when the heads of the European Central Bank, U.S. Federal Reserve and Bank of England speak at a central banking forum. Data on Tuesday showed U.S. consumer confidence dropped to a 16-month low in June, yet several Fed policymakers pledged further rapid interest-rate hikes, citing the need to tame “unbridled” inflation. Those U.S. figures, following a raft of dismal consumer confidence data across Europe, triggered steep Wall Street falls, sending the S&P 500 and the Nasdaq indexes down 2% and 3% respectively. That weaker momentum carried into Wednesday, sending an Asian ex-Japan index 1.4% lower, while a pan- European equity index eased 0.3%, snapping a three-day rally. U.S. and German 10-year bond yields slipped 5-6 basis points, the former down more than 30 bps from mid-June highs. The consumer sentiment deterioration clearly points to a recession, Citi told clients. After 7.5%-7.9% annual inflation prints across German provinces, an 8% June reading is expected for the country later in the day, versus 7.9% in May. As reported by Reuters, Paul O’Connor, head of Janus Henderson’s multi-asset team in London, predicted “stormy” markets as long as the growth- inflation question marks persisted. Also Read: European Union proposed to ban use of flavoured heated tobacco products “The problem is that the level of inflation is so problematic in so many parts of the world and we are a long way from central banks being able to declare the job is done,” O’Connor said. “We will undoubtedly get growth downgrades over the summer but we will also get a rising perception of recession risk and I don’t think markets are fully priced for it,” he added. While parts of the Chinese stock market, including property, extended gains on Wednesday, the positive impact of the news largely petered out - the Chinese blue-chip, which hit four-month highs on Tuesday, slumped 1.5% and Hong Kong lost 2%. Wall Street futures flatlined. (with inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Global stock market slips as consumer confidence plummets

In the signs of increasing volatility in stock markets, Asian markets have recovered temporarily today after a day of intense losses. India's BSE Sensex opened with gains of 600 points and it is trading with gains.

Asian stocks in green after a day of intense losses

Major US stocks lost more than $7 trillion in the first months of 2022 amid fears of a slowdown in America. Will the US drag the world into another recession? What does the global slowdown mean for India? Palki Sharma tells you.

Gravitas: US stocks lose $7 trillion in 2022

The strong headwinds in the global economy have wiped off a whopping $7 trillion in market value from blue chip stocks in the S&amp;P 500. Since the end of December last year, the index has dropped approximately 18 per cent.&nbsp; Following a 0.1 per cent fall on Thursday (May 12), the S&amp;P 500 is now just beyond bear market levels, that is 20 per cent drop from a recent closing high.&nbsp;

The Dow, which fell about 104 points, or 0.3 per cent, on Thursday (May 12), is down more than 13 per cent this year.

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Technology stocks have been hit very bad. The Nasdaq managed a small rise on Thursday, but it is still down 27 per cent this year, placing it in market territory, according to US media reports. The tech sector is responsible for about $3 trillion of the S&amp;P 500’s market cap decline.&nbsp;

As per the analysis from Bespoke Investment Group, a research firm, The Nasdaq has dropped more than 20 per cent in the last 30 trading days. According to the firm, a dip of that magnitude has only happened 11 times earlier, and nine of those declines were “related with recession.”

Watch |&nbsp;Gravitas: Worst day for global markets since June 2020

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Shares of many tech leaders such as Apple (AAPL), Microsoft (MSFT), Google owner Alphabet (GOOGL) and Tesla (TSLA) are all deeply in red. However, Netflix (NFLX) is the poorest performer in the S&amp;P 500 in 2022, down more than 70 per cent, CNN Business reported.&nbsp;

The sharp drop is alarming Main Street, which is concerned that the US economy is losing its speed after a remarkable rebound from the pandemic-induced recession.

Also read |&nbsp;<a href="https://www.wionews.com/world/biden-sets-inflation-agenda-discusses-end-to-china-tariffs-477964">Biden sets inflation agenda; discusses end to China tariffs</a>

Investors are now waiting for capitulation, the point at which it appears that everyone has completely given up. When sentiment appears to be at its lowest, it may be time to begin buying them again.&nbsp;

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(With inputs from agencies) 
&nbsp;

The strong headwinds in the global economy have wiped off a whopping $7 trillion in market value from blue chip stocks in the S&P 500. Since the end of December last year, the index has dropped approximately 18 per cent.

The strong headwinds in the global economy have wiped off a whopping $7 trillion in market value from blue chip stocks in the S&P 500. Since the end of December last year, the index has dropped approximately 18 per cent. Following a 0.1 per cent fall on Thursday (May 12), the S&P 500 is now just beyond bear market levels, that is 20 per cent drop from a recent closing high. The Dow, which fell about 104 points, or 0.3 per cent, on Thursday (May 12), is down more than 13 per cent this year. Also read | Now, SEC probes delayed disclosure of Elon Musk's initial stake in Twitter, says report Technology stocks have been hit very bad. The Nasdaq managed a small rise on Thursday, but it is still down 27 per cent this year, placing it in market territory, according to US media reports. The tech sector is responsible for about $3 trillion of the S&P 500’s market cap decline. As per the analysis from Bespoke Investment Group, a research firm, The Nasdaq has dropped more than 20 per cent in the last 30 trading days. According to the firm, a dip of that magnitude has only happened 11 times earlier, and nine of those declines were “related with recession.” Watch | Gravitas: Worst day for global markets since June 2020 Shares of many tech leaders such as Apple (AAPL), Microsoft (MSFT), Google owner Alphabet (GOOGL) and Tesla (TSLA) are all deeply in red. However, Netflix (NFLX) is the poorest performer in the S&P 500 in 2022, down more than 70 per cent, CNN Business reported. The sharp drop is alarming Main Street, which is concerned that the US economy is losing its speed after a remarkable rebound from the pandemic-induced recession. Also read | Biden sets inflation agenda; discusses end to China tariffs Investors are now waiting for capitulation, the point at which it appears that everyone has completely given up. When sentiment appears to be at its lowest, it may be time to begin buying them again. WATCH WION LIVE HERE: (With inputs from agencies)

Big slump: US stock markets lost more than $7 trillion this year

The Federal Reserve’s decision to hike interest rates rattled Wall Street on Thursday as major US stocks tanked at the stock market.

The S&amp;P 500, Dow and Nasdaq plunged sharply, with losses accelerating during intraday trading.

The S&amp;P 500 fell by 3.7 per cent, the Dow Jones Industrial Average tumbled 1,100 points, or 3.3 per cent, to 32,945 and the Nasdaq lost 5 per cent.

Major tech stocks tanked at Nasdaq, with Google-parent Alphabet Inc, Apple Inc,&nbsp;Microsoft Corp, Meta Platforms, Tesla Inc and Amazon.com falling between 4. 5 per cent and 6.5 per cent

A day earlier, the blue-chip index posted its best single-session gain since May 2020, rising 2.99 per cent.

The bloodbath in the US was also reflected in European stocks as fears of a recession, suggested by the Bank of England after it hiked rates, dampened enthusiasm from Federal Reserve Chair Jerome Powell’s remarks on Wednesday.

He had said that policymakers were not considering 75 basis-point moves in the future.

The yield on 10-year Treasury notes rose 16.9 basis points to 3.084 pre cent, while inflation-hedge gold bounced higher after Powell also emphasized risks to the economy from soaring inflation.

Watch |&nbsp;Fed raises interest rates by 50-bps

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"It's a very messy environment for investors right now," Anthony Saglimbene, global market strategist at Ameriprise Financial, told Reuters.

"There`s an overall negative sentiment in the market."

He expects the markets to remain volatile until there is a clear picture on Fed rate policy and its trajectory later this year.

The dollar index rose 1.131 per cent, rebounding after falling sharply on Wednesday following the Fed`s rate hike. It is up more than 7 per cent so far this year.

There was some respite in China where shares recovered some ground, gaining 0.7 per cent as mainland markets resumed trade after a three-day holiday.

Investors also cheered a pledge by China’s central bank for more monetary policy support to help businesses badly hit by the latest COVID-19 outbreak.

Oil prices rose as a stronger dollar offset supply concerns after the European Union`s plans for new sanctions against Russia, including an embargo on crude in six months.

(With inputs from agencies)

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The Federal Reserve’s decision to hike interest rates rattled Wall Street on Thursday as major US stocks tanked at the stock market. The S&P 500, Dow and Nasdaq plunged sharply, with losses accelerating during intraday trading.

The Federal Reserve’s decision to hike interest rates rattled Wall Street on Thursday as major US stocks tanked at the stock market. The S&P 500, Dow and Nasdaq plunged sharply, with losses accelerating during intraday trading. The S&P 500 fell by 3.7 per cent, the Dow Jones Industrial Average tumbled 1,100 points, or 3.3 per cent, to 32,945 and the Nasdaq lost 5 per cent. Major tech stocks tanked at Nasdaq, with Google-parent Alphabet Inc, Apple Inc, Microsoft Corp, Meta Platforms, Tesla Inc and Amazon.com falling between 4. 5 per cent and 6.5 per cent A day earlier, the blue-chip index posted its best single-session gain since May 2020, rising 2.99 per cent. The bloodbath in the US was also reflected in European stocks as fears of a recession, suggested by the Bank of England after it hiked rates, dampened enthusiasm from Federal Reserve Chair Jerome Powell’s remarks on Wednesday. He had said that policymakers were not considering 75 basis-point moves in the future. The yield on 10-year Treasury notes rose 16.9 basis points to 3.084 pre cent, while inflation-hedge gold bounced higher after Powell also emphasized risks to the economy from soaring inflation. Watch | Fed raises interest rates by 50-bps "It's a very messy environment for investors right now," Anthony Saglimbene, global market strategist at Ameriprise Financial, told Reuters. "There`s an overall negative sentiment in the market." He expects the markets to remain volatile until there is a clear picture on Fed rate policy and its trajectory later this year. The dollar index rose 1.131 per cent, rebounding after falling sharply on Wednesday following the Fed`s rate hike. It is up more than 7 per cent so far this year. There was some respite in China where shares recovered some ground, gaining 0.7 per cent as mainland markets resumed trade after a three-day holiday. Investors also cheered a pledge by China’s central bank for more monetary policy support to help businesses badly hit by the latest COVID-19 outbreak. Oil prices rose as a stronger dollar offset supply concerns after the European Union`s plans for new sanctions against Russia, including an embargo on crude in six months. (With inputs from agencies) WATCH WION LIVE

Dow, Nasdaq plunge sharply on account of US Fed hike, markets expected to remain volatile

The initial public offering (IPO) of the Life Insurance Corporation (LIC) will open for the anchor investors on May 2 and the general public will be offered the IPO from May 4 to May 9.

The announcement was made by LIC in their press conference on Wednesday.

LIC chairman MR Kumar called the public issue ‘LIC 3.0’ and said that it will open between INR 902 to INR 949. Policyholders will be given an INR 60 discount and retail investors will get INR 45 discount.

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LIC is also expected to be listed on the stock exchanges on May 17.

DIPAM secretary Tuhin Kanta Pandey confirmed that the LIC IPO will be the biggest initial public offering in the history of the Indian market but also pointed out that the size of the IPO is perfect for the market considering the constraints and the long-term goals as a prominent value creator.

"This (LIC IPO) is right sized, considering the capital market environment and will not crowd out capital supply given the current market environment," Pandey said according to a PTI report.

According to the report, the Indian government will sell around 3.5 percent of its stake in LIC for INR 21,000 crores which will mean that LIC will be valued at INR 6 lakh crore.

Also read |&nbsp;<a href="https://www.wionews.com/india-news/kerala-becomes-latest-indian-state-to-make-wearing-masks-in-public-mandatory-amid-surge-in-covid-19-cases-474261" hreflang="en">Kerala becomes latest Indian state to make wearing masks in public mandatory</a>

"Valuation reported was speculative. It is neither being undervalued or overvalued. Valuation process is a discovery process. Its embedded value is difficult to decipher even for us. This (3.5% for INR 21,000 crore) is a fair and attractive valuation," Pandey was quoted as saying.

The government was supposed to sell its stakes in March 2022, but it was delayed due to the ongoing Russia-Ukraine crisis. The Indian markets have somewhat recovered from the jolts of COVID-19 pandemic and the listing of LIC in the stock market is expected to stabilise the situation even more.

WATCH |&nbsp;India's coal reserves fall. What does it mean?

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The initial public offering (IPO) of the Life Insurance Corporation (LIC) will open for the anchor investors on May 2 and the general public will be offered the IPO from May 4 to May 9.

The initial public offering (IPO) of the Life Insurance Corporation (LIC) will open for the anchor investors on May 2 and the general public will be offered the IPO from May 4 to May 9. The announcement was made by LIC in their press conference on Wednesday. LIC chairman MR Kumar called the public issue ‘LIC 3.0’ and said that it will open between INR 902 to INR 949. Policyholders will be given an INR 60 discount and retail investors will get INR 45 discount. Also read | Musk criticises Twitter's censorship lawyer Gadde after buying the platform LIC is also expected to be listed on the stock exchanges on May 17. DIPAM secretary Tuhin Kanta Pandey confirmed that the LIC IPO will be the biggest initial public offering in the history of the Indian market but also pointed out that the size of the IPO is perfect for the market considering the constraints and the long-term goals as a prominent value creator. "This (LIC IPO) is right sized, considering the capital market environment and will not crowd out capital supply given the current market environment," Pandey said according to a PTI report. According to the report, the Indian government will sell around 3.5 percent of its stake in LIC for INR 21,000 crores which will mean that LIC will be valued at INR 6 lakh crore. Also read | Kerala becomes latest Indian state to make wearing masks in public mandatory "Valuation reported was speculative. It is neither being undervalued or overvalued. Valuation process is a discovery process. Its embedded value is difficult to decipher even for us. This (3.5% for INR 21,000 crore) is a fair and attractive valuation," Pandey was quoted as saying. The government was supposed to sell its stakes in March 2022, but it was delayed due to the ongoing Russia-Ukraine crisis. The Indian markets have somewhat recovered from the jolts of COVID-19 pandemic and the listing of LIC in the stock market is expected to stabilise the situation even more. WATCH | India's coal reserves fall. What does it mean?

LIC IPO to open to general public on May 4, expected to be biggest in India despite reduced offer size

Investors are worried about slowing growth on and a more aggressive federal reserve the Wall Street ended sharply lower yesterday with NASDAQ closing at its lowest since December of 2020.

NASDAQ registers lowest close since late 2020

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

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/asian-stocks-tumble-in-morning-trade-as-the-risk-of-stagflationary-shock-for-world-markets-continue-459754/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

&nbsp;

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

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