201: Top News Podcast: Bappi Lahiri passes away; NATO contests Russia’s claim of troops pullback; 2022 salary hikes and more

Legendary music composer and singer Bappi Lahiri aka the 'King of Disco' passed away on Wednesday. He was 69. The singer died at a Mumbai hospital battling multiple health issues.

From Disco Dancer, Chalte Chalte to Tamma Tamma, the Kolkata-born musician has given numerous hit songs over the years that continue to play in people’s minds. In fact, the 'disco king' was the one who introduced Bollywood to cabaret music.

Bappi Da -- as he was lovingly called -- has left a legacy that will be etched forever in our minds.

Meanwhile, the domestic stock market ended on a negative note in a volatile session. Oil & gas and pharma stocks surged, but losses in financial and IT shares limited the gains. Sensex ended 145 points lower at 57,996 and Nifty50 settled at 17,322. During the session, Sensex swung nearly 800 points.

However, elsewhere in Asia, stocks closed with significant gains as fears of a Russian invasion of Ukraine dispersed.

In the Indian markets, stocks of new-age businesses like Paytm, Zomato and Cartrade rebounded from their 52-week lows in the previous session. Paytm rose more than a percent to Rs 861 and Zomato was up 2.7 percent and settle at Rs 85, after slipping marginally below its issue price of Rs 76 in yesterday’s session.

Meanwhile, both National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) have given their approval to the LIC IPO, sources have told CNBC-TV18. This is days after LIC filed its draft papers with SEBI for sale of a 5 percent stake by the government for an estimated Rs 63,000 crore.

On the global front, NATO Secretary-General Jens Stoltenberg said Russia is continuing its troop build-up and the recent withdrawal might not mean de-escalation. He said that Russia has often moved troops back and forth, but it continues to maintain the capability of a full-fledged invasion of Ukraine in the shortest period of time.

NATO defense ministers will meet in Brussels today to discuss what they call the “the most serious security crisis we have faced in Europe for decades.”

Meanwhile, a survey has found salary hikes in India are expected to touch a 5-year high in 2022. Aon India’s Survey survey said increments are likely to reach 9.9 percent this year. This is the highest increase in salaries amongst the BRIC nations with Russia at 6.1 percent, China at 6 percent, and the US at 3.6 percent.

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