2024 Financial News

finance, the landscape of cryptocurrencies stands as a testament to the continuous evolution of digital assets. As we stand on the precipice of a new year, it is both prudent and opportune to reflect on the trajectory crypto is set to carve in 2024. The past year has witnessed unprecedented growth, technological innovation, more regulatory clarity and an increasing acceptance of digital currencies by retail and institutional players. Mass adoption and mainstream recognition The year 2023 saw a significant surge in mainstream acceptance of cryptocurrencies. Major financial institutions embraced digital assets, laying the foundation for 2024 to see a boom in mass adoption. With regulatory clarity improving across various jurisdictions, more traditional investors are expected to enter the market. As the stigma around cryptocurrencies dissipates as well, we can anticipate a broader acceptance of digital assets in everyday transactions, ultimately leading to their integration into global financial systems. Central Bank Digital Currencies (CBDCs) Central Bank Digital Currencies (CBDCs) have been on the radar of central banks worldwide. In 2024, several countries are expected to make significant strides in developing and implementing their own CBDCs. This move represents a paradigm shift in the way governments perceive and utilize digital currencies. While CBDCs are not decentralized like cryptocurrencies, the shift towards digital currencies indicates a rising acceptance of digital assets. Moreover, the adoption of CBDCs could streamline financial transactions, reduce fraud, and enhance monetary policy effectiveness.

Union Budget on February 1, 2024, along with the general elections in the same year. During an election year, the government does not present a full-fledged Budget for the whole year, instead the government prepares an interim budget or a vote on account. Livemint explains what these terms mean and how they are different from the Union Budget.

Matthew M

Bharatiya Janata Party (BJP) registered victories across three major states, fuelling hopes that the country will see a stable government after the General Elections 2024. India's economic growth outlook is strong and if the current government continues after the Lok Sabha elections next year, it may give a strong impetus to market sentiment.

Track assembly election results here S&P Global Rating has raised India's GDP growth forecast for the FY24 from 6.0% to 6.4%, instilling optimism across the broader market. The heightened confidence suggests that the Nifty50 could comfortably breach the psychological barrier of 20,000 and retain these gains for long-term support. The bold performance of the global markets and IPO listings is adding glitter to mid & small caps.

«The Drift» author provides insight on the economy and oil prices on «Kudlow.»

sector is entering a multi-year upcycle after eight years of underinvestment, and it continues to be our preferred sector in the oil & gas space.

Swaminathan Aiyar, Consulting Editor, ET Now, says: “While others may disagree that there was some communalism in the state elections, I would say basically no. It was an argument about development. And we saw this in the Uttar Pradesh election when we went out there. I attended many of those rallies of Modi, of Adityanath. There was no communal message going out. The whole thing was, have we not performed well enough to be re-elected? And the electorate said yes. I think the same thing has happened in the state elections. So I imagine that is going to be the approach of the BJP in the general election too.” Looking at how things have moved post the state elections, it looks like it is going to be a new sunrise. Yes, I would say that global investors are not particularly interested in the state elections. They look at the larger picture. I think they have already assumed that Mr Modi is going to win in 2024. This is a confirmation of what they were going to do, but I do not think it changes their view that Modi is going to win in 2024. And whether he wins by another 10 votes or 10 less votes, I do not think is the key thing.

Narendra Modi, of course, plays a role in this that can hardly be overstated. It’s a remarkably rare political phenomenon.

Congress in three state polls yesterday holds grave ramifications for its 2024 Lok Sabha campaign. There may be no direct correlation between a party's performance in assembly polls and the Lok Sabha polls that occur shortly after, but these elections do matter for both the winner BJP and the Congress so far as strategy for the 2024 Lok Sabha polls is concerned.

Madhya Pradesh, Rajasthan and Chhattisgarh, the BJP seems to have virtually triumphed over the politics of caste ahead of the 2024 Lok Sabha polls. The BJP’s experiment with the welfare of “Yuva, Mahila, Kisan and Garib” has paid its political dividends in the three states of the Hindi heartland. And the road ahead for the party now looks easy with its continuous attempts to bring various castes under an umbrella of “class politics”, with the help of the welfare schemes launched by the Modi government. While recently interacting with beneficiaries of the schemes at the Viksit Bharat Sankalp Yatra, Prime Minister Narendra Modi highlighted the combination of four — “Youth, Women, Farmers and Poor” — as “the biggest castes”. Although the Congress remains a major political player in these three states, the poll results brought disappointment in the entire opposition camp, which has been pushing for caste census ahead of the 2024 LS polls.

general elections, two people with direct knowledge of the matter said. However, the Centre could take a relook at some of these schemes, especially the ones started during the pandemic, for further rationalization in the next budget, these people added.

Indian Navy has planned to deploy both its aircraft carriers INS Vikramaditya and INS Vikrant on the eastern seaboard during Milan-2024, a flagship international naval exercise hosted by Vizag from February 19-27 next year, a senior official said on Sunday. «The event will be held under the aegis of the Eastern Naval Command (ENC) of the Indian Navy with likely participation from nearly 50 friendly countries as a delegation, and 20 foreign warships along with one maritime patrol aircraft,» said Vice Admiral Rajesh Pendharkar, Flag-Officer Commanding-in-Chief (FOC-in-C) Eastern Naval Command.

Star Trek: Discovery graced our screens, Paramount+ has, at last, unveiled the anticipated release window for Season 5. The revelation took place at CCXP (Comic-Con Experience) in São Paulo, Brazil, where Sonequa Martin-Green, the star of the series, joined co-showrunner and Executive Producer Michelle Paradise on the Thunder Stage. The duo not only treated fans to a sneak peek of Season 5 but also dropped the much-awaited bombshell: Star Trek: Discovery Season 5 is set to premiere in April 2024.

alliance. In an interview with PTI news agency, the former CM of Jammu and Kashmir UT said, "Judging the results of INDIA alliance in the state elections, if the situation is like this in the future, we cannot win".

Rajasthan Assembly polls has emerged as the favourite candidate for the chief ministerial position after the latest trends showed the party comfortably crossing the halfway mark. Balaknath, who is a Lok Sabha MP from Alwar and is 40 years old, told ANI that this time BJP on its own will bag 120 seats in Rajasthan. Balaknath had taken sannyasa since his childhood days at the age of 6.

Car care services startup Park+ expects to turn profitable by the January-March 2024 quarter and close the current fiscal with over Rs 200 crore, a senior company official said. Park+ founder and CEO Amit Lakhotia said that the company at present has operations in about 30 cities and plans to expand to over 100 cities by 2024. The Epiq Capital backed company has raised $55 million till date to fund its operation which is sufficient for the company to fund operations as well as planned expansion.

INDIA bloc meeting in national capital Delhi on 6 December. According to news agency ANI, Kharge dialed his alliance partners for a meet in Delhi on 6 December. Will this be the meet to discuss seat sharing between the INDIA bloc members? On 25 October, Congress President Mallikarjun Kharge had said that INDIA bloc seat sharing is likely to be declared after the 5-state elections.

However, the anticipated cinematic extravaganza faced a significant setback as over half a dozen films from both universes experienced substantial delays owing to the summer's actors' and writers' strikes. Consequently, these highly anticipated releases have been rescheduled for 2025 and beyond. Notably, Marvel Studios' Captain America: Brave New World and Thunderbolts had to readjust their release dates, while Sony Pictures found itself compelled to reconsider the release date for Spider-Man: Beyond the Spider-Verse. Despite these challenges, there remains hope for an exciting cinematic year in 2024. «Madame Web» will release on February 14, 2024, "Deadpool 3" will release on July 26, 2024, "Kraven the Hunter" on August 30, 2024, «Venom 3» on November 8, 2024. Apart from the aforementioned films, «Avengers: The Kang Dynasty», the sequel to the 2019 blockbuster «Avengers: Endgame», will focus on Kang, Marvel Cinematic Universe's new main villain essayed by Jonathan Majors. The movie is scheduled to come out in the US on May 1, 2026, and will be followed by «Avengers: Secret Wars» on May 7, 2027. The two Avenger movies will bring down the curtain on Phase 6 of the MCU.

full-time job offers, including pre-placement offers, with around 450 unique selections by the end of Day 1 of the placement season on Friday. Many students also received multiple job offers. Like many old IITs, the ongoing placement season at IIT Delhi for the academic year 2023-24 kicked off on December 1 and will continue till May for full-time hiring of undergraduate and postgraduate students.

Historically, November has been among the most prosperous for the Nifty 50 and the overall Indian stock market. While writing this, Nifty 50 was trading at around 20,094.50, and Nifty November 2023 was trading at almost 19,889.70 points premium in the cash market.