Wed, Nov 6, 2024 5:21 PM
Analysis-Trump victory to reverberate through global economy
A Flip by Shubhangi Gupta
Stock and commodity exchanges have approved the Burman family's acquisition of Religare Broking, a subsidiary of Religare Enterprises, despite reluctance from REL's management. The Burman family, already the largest shareholder, plans to take over REL through an open offer, which has received approvals from the competition regulator and insurance watchdog.
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India's key stock indices plunged about 1.3% each on Wednesday to their lowest in almost five months as unabated selling by foreign funds amid concerns over slackening corporate earnings growth soured sentiment further. Uncertainty over US President-elect Donald Trump's economic policies is also keeping investors on the edge. The Sensex and Nifty have dropped 10% from peaks on September 27.
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Asian shares drifted higher Thursday after US inflation data supported the case for another Federal Reserve rate cut next month. Stocks in Japan and Australia climbed, while futures for Hong Kong fell as a gauge of US-listed Chinese companies declined Wednesday. Hong Kong’s stock exchange will keep its markets open despite signs of severe weather.
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