Sat, Oct 5, 2024 11:30 AM
The Week That Was: Market tanks 4.5%, erasing Rs 16.6 lakh crore in wealth
A Flip by Shubhangi Gupta
The dollar jumped to a seven-week high on Friday and was on track to post its best week since September 2022 after a surprisingly strong jobs report for September led traders to cut bets that the Federal Reserve will make further 50-basis-point rate cuts. U.S. nonfarm payrolls increased by 254,000 jobs last month, beating the 140,000 new jobs that economists polled by Reuters had anticipated.
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Food delivery major Zomato said on Friday approved the grant of 12 million stock options to eligible employees, according to regulatory filings. The company has granted 116 stock options under the Foodie Bay ESOP 2014 scheme and 11.9 million stock options under the Zomato ESOP 2021 scheme. Shares of Zomato closed at Rs 274.65 apiece on the NSE on Friday, 2% higher than the last session.
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The National Stock Exchange (NSE), its former chief executive Vikram Limaye and eight others have settled a case of misuse of trading access point (TAP) system by certain brokers with market regulator Sebi by paying ₹643 crore. The eight others who have settled the case include Umesh Jain, GM Shenoy, Narayan Neelakantan, VR Narasimhan, Kamala K, Nilesh Tinaikar, R Nandakumar and Mayur Sindhwad.
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