Action Financial News

Global rideshare giant Uber will pay $178 million to settle a long-running dispute with Australian taxi and hire car drivers who lost out when the company entered the Australian market

The Environmental Protection Agency has announced a comprehensive ban on asbestos, a deadly carcinogen still used in some chlorine bleach, brake pads and other products

The US Securities and Exchange Commission was sanctioned for its controversial restraining order against crypto firm DEBT Box, a March 18 court filing showed. In a rare rebuke, Judge Robert Shelby slammed the agency on Monday, calling its actions toward DEBT Box a “gross abuse of power.”

By Amanda Cooper

If you had been following the S&P 500 closely this past week, it likely would have left you scratching your head if you were trying to align the news with the market action.

The Russell 2000 (IWM) has been defending its 50-day MA over the early part of 2024, but the last few days have seen a shift in this support with 'sell' triggers in the MACD and On-Balance-Volume.

Arvind Kejriwal for skipping multiple summonses of the Enforcement Directorate and said he cannot escape the «long hand» of the law for so long as there is evidence of his involvement in the alleged excise policy scam. Addressing a press conference at the BJP headquarters, party national spokesperson Sambit Patra also slammed the Aam Aadmi Party (AAP) for defending BRS leader K Kavitha, arrested by the Enforcement Directorate (ED) in connection with the case, and said probe agencies' actions are based on evidence. «Political parties do not set up probe agencies,» Patra added. The BJP's reaction came a day after the AAP called the ED a political wing of the BJP and dismissed the probe agency's charges against the party and its national convener Kejriwal calling them blatant and frivolous lies.

Meghana Malkan, malkansview.com, says the first pick that I will be looking at is Maruti. I like the way the pattern seems to be building up in Maruti. 11,300 seems to be a good stop for me as of now technically and I would look at a target of 12,500, so that is one pick. Second, the realty sector looks good to me. DLF seems to be a good pick from realty, Right now it seems to be at an all-time high. If I buy with a stop of 800 to 810, I would easily look at a target of Rs 900 plus if I build on the same trade advice. We are seeing markets being at a one-month low. How do we go about the markets hereon? Meghana Malkan: Broadly, I feel both the major indices, Nifty and Bank Nifty, are in a correction zone right now. The major reason being the multiple divergences on the oscillators. Volumes do not seem to be matching going along the price range. I believe there is some kind of disparity in the price volume as well. Nifty can find good support around 21,700. One could choose their strategy stock-specific or sector-specific but broader markets look to be a little in the correction zone.

Hero Electric, Okinawa Autotech, and Benling India have allegedly failed to repay the subsidies they claimed incorrectly. Livemint could not independently verify this news.

Pankaj Pandey, Head Research, ICICIdirect.com, says there are SIP inflows of nearly Rs 19,000 odd crore on a monthly basis. On top of it, there are about Rs 3,000 to 4,000 odd crore of inflows from the ETF perspective. Overall, the domestic liquidity is still quite good and that is where even if there is a bit of a selling there, that is not going to change the market trajectory overall. FPI inflows come and go and which is what we have seen last year also. We had some interesting data that we were culling out talking about the kind of promoter stakes sales that we have witnessed in the last month or so of Rs 43,000 crore. How are you reading into this? MNCs as well as ITC, IndiGo, TCS, etc, are in that list? Pankaj Pandey: From FPI perspective, we have seen inflows of about Rs 40,000 odd crore. But our sense is that most are stock specific cases. For example, in IndiGo, one promoter has been continuously paring down his stake. Whereas in the case of ITC, nothing changes structurally because of the high amount of debt and so a stake sale does not really change the overall texture of the company's growth.

Indian Express has reported, citing Noida Police sources. The Big Boss OTT 2 winner had been arrested on March 17 and was sent to 14-day judicial custody. “During questioning, Yadav did not accept the crime.

Investing.com-- The Bank of Japan hiked interest rates for the first time in 17 years on Tuesday, marking an end to nearly a decade of ultra-loose policy on growing confidence that a «virtuous cycle» of its inflation targets and wage stability will be achieved. 

₹2.15 crore Net in India on Day 4, film industry tracker Sacnilk.com has reported. The report also stated that the film saw an overall occupancy of 10.36 percent in Hindi language on 18 March. According Sacnilk.com, with the day 4 collection, the film has raked in ₹19 crore net in India during its four-day run in theatres.

Buy or sell stocks: The range-bound action continued in the Indian stock market for the second consecutive session on Monday. The Nifty 50 index ended 32 points higher at the 22,055 level, the BSE Sensex finished 104 points higher at the 72,748 mark while the Bank Nifty index went off 18 points and closed at the 46,575 level.

Sensex rose 104.99 points to close at 72,748.42, while the Nifty 50 settled 32.35 points, or 0.15%, higher at 22,055.70. Nifty 50 formed a small positive candle on the daily chart with minor upper and lower shadows. “Technically, this pattern is indicating range-bound action in the market post the sharp selloff of 13th March.

By Ernest Scheyder

A pair of anti-ESG laws Texas passed in 2021 are costing the state hundreds of millions in lost economic activity and more than 3,000 full-time jobs, a new study found.

An embattled Barings has labeled its dispute with Corinthia Global Management “one of the largest corporate raids at an asset manager in years,” according to the Financial Times.

Finra slapped online brokerage firm M1 Finance with an $850,000 fine for violations related to its social media influencer program.

By Jamie McGeever

Anne Hathaway and Jessica Chastain are set to captivate audiences with their latest drama thriller, Mothers’ Instinct. Release Date, Cast