Tue, Feb 6, 2024 12:26 AM
Estee Lauder to cut jobs on skittish China demand; shares surge 19%
A Flip by Shubhangi Gupta
Indian stock markets fell for the second consecutive session, with Sensex and Nifty 50 declining due to factors including weak global cues, rising crude oil prices, FII selling, valuation concerns, and uncertainty over the COVID-19 pandemic. the Sensex and the Nifty 50- declined 0.80 per cent each in intraday trade on Thursday, January 9, amid weak global cues, rising US dollar and bond yields.
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Global uncertainties, including geopolitical tensions, rate concerns, and the human metapneumovirus, are painting a gloomy picture for equity markets, with India's Nifty 50 down 10% from its peak. Near-term events, such as the US presidential transition and India's Union Budget, may provide valuable cues for investors in 2025.
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Swiggy is launching its quick commerce offering Instamart as a separate app, while still maintaining its presence on the main Swiggy app, to target customers looking for specific services and build a multi-app strategy, mirroring Chinese internet giants like Meituan and Alibaba. To be sure, Instamart will continue to be present on the main Swiggy app.
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