2024 Financial News

The Japanese gaming giant Square Enix reaffirmed its plans to utilize blockchain, artificial intelligence (AI), and metaverse in creating novel content for consumers.

Indian share markets ended calendar year 2023 on a strong note, notching around 20% gains, most of it coming in the latter half of the year. While Nifty 50 and BSE Sensex gained about 15% in the last two months of the year, midcap stocks stole the show, with the BSE Midcap index shooting up by 20.4%. Several factors contributed to the rise, including healthy domestic macro numbers, cooling inflation in the US, and higher inflows from foreign portfolio investors (FIIs).

₹25,000. Significant modifications are anticipated in both the exterior and interior of the Creta facelift, with the manufacturer providing a sneak peek into the redesigned cabin. The upcoming Hyundai Creta is adopting a more minimalist approach to its dashboard design this time around.

Hyundai plans to take a lead in electrification and focus on optimizing profitability by strengthening its global electric vehicle (EV) production infrastructure, establishing flexible business strategies to adapt to market changes, and reinforcing preemptive risk management capabilities," Hyundai said in a statement. In 2023, Hyundai Motor and Kia managed to market 7.3 million automobiles, falling approximately 3% short of their collective goal of 7.52 million. This shortfall was predominantly attributed to challenging economic conditions marked by escalating interest rates and inflation, factors that rendered certain vehicles financially inaccessible for a portion of potential buyers.

NEW DELHI : The Indian spirits market, which navigated through a complex year due to tax hikes, state elections, and policy shifts in 2023, is expected to see a flat growth in 2024. While major players are likely to find solace in the premium segment, smaller regional companies are poised to steal the spotlight with faster growth compared with their larger counterparts. The hangover from 2023 challenges could linger amid sharp tax increases in states like Karnataka and the dampening effect of elections across nine states.

ALSO READ: Foreign investors keen on India but transparency key factor: WEF investment head 1) Davos 2024 will be hosted between 15 to 19 January 2024. 2) It will be hosted at the local Swiss Alpine School in the heart of Davos.

The Consortium of Medical, Engineering, and Dental Colleges of Karnataka (COMEDK) has announced an extension of the application deadline for the Undergraduate Entrance Test (UGET). Prospective candidates now have until April 27, 2024, to submit their applications through the official website: comedk.org. It is strongly recommended to complete the application process well before the revised deadline, as no further extensions will be provided.

It is important to meet deadlines especially when it comes to income tax as it can help avoid paying penalties, penal interest, and file income tax return (ITR).

We don’t support this browser anymore. This means our website may not look and work as you would expect. Read more about browsers and how to update them here.

gold is anticipated to reach Rs 70,000 per 10 grams in the local market. This projection is attributed to a stable rupee, geopolitical uncertainties, and the deceleration of global economic growth, as indicated by experts. Buying gold in tangible or physical forms such as jewelry, gold coins, or bars can be significantly expensive. In contrast, possessing it in a paper form like gold exchange-traded funds (gold ETFs) is more cost-effective, with prices aligning closely to the actual value of gold. Also read: 6 ways to buy and invest in gold Hence, if your goal is to capitalize on the potential increase in the value of gold in the future, opting for the ETF route is the solution. Comparable to mutual funds, where the investment's value mirrors that of the underlying securities (equity or debt), in the case of gold ETFs, gold serves as the underlying asset.

Chakri Lokapriya, CIO & MD, TCG AMC, says: “The midcap idea for 2024 is Sterling and Wilson. This company now makes up the solar industry. They benefit from a fall in solar module prices. Reliance Industries owns about 40% of the company itself. Amongst the largecaps, SBI and ICICI Bank have good valuations and strong balance sheets. Among smallcaps, the top idea is a very small chemical company called Gujarat Themis. Valuations are on their side and they are beginning to get some export and other orders.” Give us a sense as to what the outlook is when it comes to PSUs as a whole because a lot of top market experts we have been interacting with seem to be of the view that the year ahead as well could look fairly promising. What is your sense after the heady run up? Chakri Lokapriya: Indeed. As we go into 2024, PSUs are still very well placed. Some of the PSUs, of course, have run very sharply but their evaluations are still not demanding. Now, why have they run up? If you take PSU financials, basically their balance sheets are very strong. NPAs are very low. Credit cycle for corporate government capex has picked up and will continue to do well.

The New Year is almost upon us

“In our base case, we foresee the Dec '24 Nifty Target at 23,000. We assume the continuation of the political stability and consequent visibility on the policy continuity after the 2024 General Elections,” says Neeraj Chadawar, Head — Fundamental and Quantitative Research, Axis Securities. In an interview with ETMarkets, Chadawar said: “These bull and bear phases of the markets are driven by sentiments in the market. When sentiments are positive, the market will continue to do well. In a fear scenario, the market will fall,” Edited excerpts: We were cruising nicely but suddenly COVID, freight concerns, and potential geopolitical tension struck D-St. What is your take – is it profit booking or will any of the above factors have a material impact? Neeraj Chadawar: The year 2023 was interesting, not only for the Indian equity market but also on the global markets front. We commenced the year with restrained expectations and witnessed notable volatility in the initial months.

Wall Street started 2024 with a slump, giving back some of its powerful gains from the year before

Nasdaq Composite closed the first trading session of 2024 lower, weighed by a fall in Apple shares after a broker downgrade and declines among other big-tech names triggered by a move higher by Treasury yields. The lackluster session follows a year where Wall Street's three major indexes notched double-digit gains on the back of optimism around artificial intelligence and stabilizing inflation. The S&P 500 ended last week within 1% of a record closing high reached in early 2022. However, equities were pressured on Tuesday as U.S.

Quiver Quantitative — In a strategic shift for 2024, major financial institutions including JPMorgan (JPM) and Morgan Stanley (MS) are projecting that U.S. investment-grade bonds will outperform speculative-grade, or junk, debt for the first time in four years. This outlook aligns with the anticipation of interest rate cuts and a decelerating economic environment. Bank of America (BAC) echoes this sentiment, favoring higher-rated bonds due to the expected challenges in credit markets, including rising rates, fluctuating earnings, and bond issuance dynamics.

Nirmala Sitharaman will rise in the Parliament to present the Interim Budget for fiscal year 2024-25 on February 1. Till a few years back, the budget was presented every year at the end of February. But why the parliamentary tradition was changed in 2017, and the Union Budget presented on February 1 instead of the month's end? In 2017, then Union Finance Minister Arun Jaitley announced that the Union Budget would no longer be tabled on the last working day of February as it used to be in the colonial era.

One of the good things about turning the page on 2023 was the all-clear on a possible recession. Entering 2024, however, it seems that all bets are off.

Genshin Impact players, eager to enhance their Teyvat journey without spending, can capitalize on redeem codes for valuable rewards like Mora, Hero’s Wit, and Primogems. Below is a comprehensive list of active codes for January 2024.

Canadians preparing their taxes and finances for 2024 might find a bit of help from an unexpected friend: inflation.

By David French