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Madhya Pradesh recorded a voting percentage of 71.16 per cent and Chhattisgarh saw a voter turnout of 68.15 per cent AT 5 PM on the 70 seats that went to the polls in the second phase of the election in the state, according to the latest data from Election Commission. Madhya Pradesh had seen 60.52 per cent voter turn-out till 3 pm in all the 230 assembly seats that went to the polls on Friday. The voter turnout in the state was 45.40 per cent till 1 pm. Voting for 230 Assembly seats in Madhya Pradesh began at 7 am on Friday. The election will decide the electoral fates of over 2,500 candidates.

U.S. Treasury funds recorded their first outflow since February in the week to Wednesday, as global investors shed $1 billion of the government bonds and piled into stocks, according to Bank of America and data provider EPFR on Friday.

Contributions to retirement plans fell last year following record contribution rates from participants and employers in 2021, according to a survey of 401(k) plans released Thursday by the Plan Sponsor Council of America.

India’s central bank is clamping down on risky consumer lending as the economy booms, a move that’s likely to hurt banks but only have a limited impact on growth. The Reserve Bank of India on Thursday told lenders to set aside more capital for unsecured consumer loans, such as credit cards and small, personal loans. That type of borrowing had surged more than 25% in the past year, according to Macquarie Group, far higher than growth in consumer incomes, potentially creating a debt trap for borrowers and giving rise to defaults. The RBI’s measures prompted a selloff in bank stocks on Friday, with analysts saying a rise in borrowing costs will hit profits.

World Cup final between India and Australia in Ahmedabad on Sunday. According to reports, Australia's PM Anthony Albanese invited to attend India Vs Australia World Cup final on Sunday and he has deputed Australian Deputy PM Richard Marles to attend the match which coincides with India, Australia 2+2 India will meet Australia in the final. Several players, including Virat Kohli, Mohammed Shami, Rohit Sharma and Ravindra Jadeja, were spotted in the team bus in Ahmedabad.

Tata Investment Corporation rallied over 20% on Friday's trading session, touched to ₹3,909.90 per piece ahead of upcoming initial public offering (IPO) of Tata Technologies. Tata Investment shares opened ₹ 3,270 per share in the early morning trading on Friday, against previous close at ₹ 3,257 . Tata Technologies, which is all set to go public on November 22, is a subsidiary of Tata Motors in which Tata Investment is a promoter group entity.

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General Elections in about six months. As per historical records and the current market scenario, experts anticipate yet another pre-election rally.

The Mumbai city (area under BMC jurisdiction) recorded property registrations of 12,602 units between Navratri until Bhai Dooj, spanning from October 15th, 2023, to November 15th, 2023, as against 9,659 units registered during the same period last year, resulting in a 30.0% year-on-year (YoY) growth, according to Knight Frank India.

The last six months have seen a sharp run-up in broader financial markets, with a surge in investor enthusiasm driving up stock prices. However, with this meteoric rise, several mid and small-cap stocks now find themselves trading at expensive valuations. As a result, we’ve already witnessed upwards of a 7-8% correction in index levels, and some individual stocks have experienced even higher declines. The benchmark Nifty 50 lost nearly 3 per cent in October, recording its worst month in 2023 so far. So investors should be cautious about hiking allocations into small-caps, given the recent rally and volatility in markets.

Prime Minister Narendra Modi on Friday expressed concerns over the misuse of Artificial Intelligence (AI) in generating ‘deepfakes’ and urged the need for responsible use of technology during the era of AI.

Renting a residential property can be a good source of monthly income for homeowners. However, before letting out a property, homeowners are required to have proper rent agreements in place to avoid any hassles in future.

Reserve Bank of India on Thursday decided to increase the risk-weights on unsecured credit and bank loans to non-banking financial corporations (NBFCs). The increased risk-weight is applicable to outstanding as well as fresh loans, the central bank said. While credit growth for the overall banking system has remained stable and healthy, certain components of personal loans are, however, recording very high growth, RBI Governor Shaktikanta Das had said in his previous policy statement. Das further added that the central bank was closely monitoring for any signs of incipient stress. Thursday’s decision was, therefore, somewhat on expected lines. However, Dalal Street wasn’t very happy with the same and a kneejerk reaction was seen among NBFC stocks, with Bajaj Finance, One97 Communications, and SBI Cards and Payment Services shedding more than 2-5%. Let’s understand a little more about what the implications of RBI’s move could be on the business. What’s changed? The risk-weights on banks’ unsecured personal loans and consumer durable loans have been increased to 125% from 100%, and that on credit cards have been increased to 150% from 125%. Further, the risk-weights on NBFCs’ unsecured personal and consumer durables loans, and credit cards have been increased to 125% from 100%. The risk-weights on loans by banks to NBFCs has been hiked by 25 percentage points, if the risk-weight is below 100%.

Walmart reported an uptick in its consolidated gross margin, attributed to the delayed launch of its Indian ecommerce arm Flipkart's Big Billion Days (BBD) festive season this year. “Consolidated gross margin rate up 32bps (basis points) positively affected by a slight improvement for Walmart US and timing of Flipkart’s The Big Billion Days (“BBD”) event, which flipped from Q3 last year to Q4 this year,” a bullet point in the company’s October quarter earnings statement noted.

Narendra Modi Stadium. India are favorites with a perfect record so far in this tournament, but five-time champions Australia can never be counted out. A repeat of the 2003 final, where Australia won by 125 runs in Johannesburg, the two meet at the Narendra Modi Stadium in Ahmedabad, where well over 100,000 fans will turn out to witness history.

PCBL zoomed 10.19% to register a historic high of ₹244.90 apiece in today's trade. This propelled the stock to achieve a substantial gain of 84% in the current year, registering its best yearly performance since CY17. Looking at the long-term performance, the shares have delivered a 204% return over the last three-year period and over the last decade, the shares delivered a whopping return of 4,170%, climbing from ₹5.62 per share to the current position of ₹238.40.

US Federal Reserve will not increase interest rates further and pivot to a rate cut early next year. Rupee is up only 0.1% this week against the US dollar, as compared with 1-2% rally in other Asian currencies. Also Read: The rupee, its fall, slight recovery and what the RBI did “The recovery in the domestic equities backed by foreign fund inflows and lower crude oil prices are providing support to the local rupee.

Investing.com — The U.S. dollar edged higher in early European trade Friday, but was heading for a sharp weekly loss after cooling inflation spurred growing bets that the Federal Reserve has completed its series of rate hikes.

By Joe Cash

Keki Mistry, Non-Executive Director, HDFC Bank, says “people are still not seeing any concern or any deterioration in terms of asset quality as far as the unsecured loans are concerned. So, to my mind, this is a precautionary measure by the RBI, a welcome precautionary measure, given that this kind of lending has increased so much in the system.” What are your initial thoughts on this latest circular from the RBI on unsecured lending and also can you help us understand in layman terms the impact it would have on the financial sector — banks, NBFCs, all of them? My view is that RBI for nearly two months has been continuously making some remark or comment about the fact that the quantum of unsecured lending in the system has increased a lot and RBI is a little concerned about it. One was expecting some kind of regulatory action around that. What exactly that action would be, one did not know and now we know that the risk weight on these loans has been increased by 25 percentage points.

Investing.com — European stock markets are expected to open higher Friday, looking to end a volatile week on a positive note ahead of the final release of eurozone inflation data for October.