Happy New year 2024

Good morning,

U.S. stocks got off to a bad start in the new year as investors revalued the outlook for interest rates, spurring the dollar to its biggest gain in nearly 10 months. Hamas says its top leader was killed in an Israeli drone strike in Beirut. The number of inbound and outbound visits during China’s New Year’s Day holiday returned to pre-epidemic levels. BYD leads the world in quarterly electric vehicle sales.

Maruti Suzuki and Mahindra & Mahindra reported domestic SUV sales growth of 24% and 39% year-on-year, respectively. Tata Motors reported an 8% growth in domestic PV sales, without specifying the growth rates of different categories of cars.

Among two-wheelers, Bajaj Auto’s and TVS Motor’s domestic sales jumped 26% and 27% respectively, while Eicher Motors’ Royal Enfield motorcycle sales fell 7%.