Business News Highlights: Stock Market Closes, Sensex Settles Over 350 Points Lower, Nifty At 22,005
Business News Highlights: Please follow this space for all the breaking news and latest updates from the Stock Market, economy, and corporate world
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Business News Highlights: Hello and welcome to ABP Live's Business LIVE blog. Please follow this space for all the breaking news and latest updates from the Stock Market, economy, and the corporate world.
The stock markets reversed their gains from the last trading day and started this week on a lower note. The key equity benchmarks, Sensex and Nifty, declined in the early trade on Tuesday. The BSE Sensex plunged almost 469 points to hit 72,363.03 in the morning hours, while the NSE Nifty50 slipped about 150 points to touch 21,947.55.
As the session progressed, the indices attempted to pare their losses, however, failed to make a full recovery. As of 10:06 AM, the Sensex traded at 72,518.43, down by more than 300 points, while the Nifty stood at 22,016.65, at a loss of almost 100 points.
Boeing Co announced on Monday that it is implementing changes in its leadership to tackle the concerns surrounding its controversial, but flagship product, the 737 MAX aircraft. The firm said that CEO Dave Calhoun, Chairman Larry Kellner, and Head of the Commercial Airplanes division, Stan Deal, are being replaced. It informed that Calhoun will exit the firm by 2024 end, and Kellner will not be seeking a re-election. Deal will be retiring immediately and COO Stephanie Pope will take care of his responsibilities.
The Employees’ Provident Fund Organisation (EPFO) also said that it added a net 16.02 lakh subscribers in January 2024, citing the official payroll data released on Sunday. The labour ministry in a statement revealed that for the first time, about 8.08 lakh members were enrolled in January.
The data highlighted that the majority of the new members in the organised workforce belonged to the 18-25 years age group, indicating that they are primarily freshers.
The data also showed that female employees accounted for a good part of the new members, indicating a positive shift in the workforce. About 2.05 lakh new members were female, while the net female member addition during January stood at nearly 3.03 lakh.
Veeda Clinical Research Expands With Acquisition Of European Firm Heads
Meta Takes the Lead As Global XR Headset Shipments Decline By 19%
Global shipments of Extended Reality (XR) headsets witnessed a 19 per cent year-on-year decline in 2023, with Meta securing 59 per cent of the market share, according to a new report released on Tuesday. The decrease was attributed to the absence of innovative XR headset releases and a shortage of captivating applications beyond gaming, as per findings from the Counterpoint report. Nevertheless, the introduction of highly anticipated products like the Sony PlayStation VR2 (PSVR2) and Meta Quest 3 during the year alleviated a more significant decline in 2023.
JustDeliveries Secures $1 Million In Funding
JustDeliveries, a company specialising in logistics solutions for perishables, announced the successful completion of a funding round, raising $1 million (approximately Rs 8.33 crore) from various investors, the firm said in a statement released on Tuesday. NABVENTURES Fund spearheaded the pre-Series A funding, with participation from prominent investors such as FAAD Network, Anay Ventures, Caret Capital, and Mahansaria Family Office.
Yamini Aiyar Resigns as CEO of Premier Think Tank CPR India
Yamini Aiyar, the Chief Executive of the premier think-tank Centre for Policy Research India (CPR), will be stepping down from her current position to dedicate more time to her research pursuits, as per an announcement from CPR. This transition follows the cancellation of CPR's license under the Foreign Contribution (Regulation) Act (FCRA) several months ago.
Dr Srinivas Chokkakula, a Senior Fellow at CPR and the Ministry of Jal Shakti Research Chair is slated to assume the role of President and Chief Executive of the think-tank starting April 1st.
Apple Vision Pro Set for Launch in Mainland China Later This Year
Apple CEO Tim Cook revealed plans for the debut of the Apple Vision Pro in the mainland China market this year during the China Development Forum in Beijing on Sunday, reported Chinese state media. Cook disclosed the launch strategy for the headset during a press briefing, mentioning that the tech giant intends to boost its research and development investments in China. CCTV Finance shared this information on its Weibo social account, as reported by the media.
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