End Financial News

Lok Sabha elections. Kicking off from Prayagraj on August 9, the yatra has already made its mark. Nine districts in Bundelkhand and eastern UP have been covered, accumulating over 2,000 kilometres on bicycles—the Samajwadi Party's election symbol.

This special FD aims in protecting income of senior citizens by providing additional interest on their term deposits. It was introduced in the year 2020.Interest Rate According to the SBI website, “Additional premium of 50 bps (over and above existing premium of 50 bps) over card rate for Public i.e., 100 bps over card rate for Public.”Payment of Interest Term Deposit — At monthly/ quarterly interval Special Term Deposit- On maturity Interest, net of TDS, shall be credited to Customer Account Special Term Deposit, interest is paid on maturity, net of TDS, shall be credited to customer account.

Provident Fund (PPF), Sukanya Samriddhi Yojana (SSY), Post office deposits, and other small savings schemes must submit their Aadhaar number to the post office or bank branch by the end of this month. Missing this important deadline will result in getting their small savings investments frozen. PAN and Aadhaar number has become mandatory for making investments in small savings schemes like PPF, SSY, Senior Citizens Saving Scheme (SCSS), etc.

The Canadian economy slowed more than expected in the first half of the year, a development that could strengthen the case for the Bank of Canada to hold interest rates when it convenes next week.

Adani Group companies recovered on Friday with the market valuation going up by Rs 13,500 crore a day after a report by OCCRP alleged that billionaire Gautam Adani used family associates to secretly invest hundreds of millions of dollars through «opaque» Mauritius-based investment funds to fuel the rise in group stocks.

bond yields ended marginally higher on Friday as debt auction added to overall supply, while market participants shrugged off domestic growth numbers, which came largely in line with expectations. The benchmark 7.26% 2033 bond yield ended at 7.1671%, after closing the previous session at 7.1655%. The yield, however, ended the week 3 basis points lower. New Delhi raised 390 billion rupees ($4.72 billion) through the sale of bonds, at cutoffs that nearly met estimates. However, some mutual funds were selling longer-duration papers after the auction results, traders said. «The 10-year bond yield should peak in September as demand-supply dynamics are expected to improve from October.

Ram Nath Kovind, the committee has been tasked with exploring how the country could go back to having simultaneous Lok Sabha and state assembly polls, as was the case till 1967. The terms of at least ten state Assemblies will end before or around the scheduled time for the general elections in 2024. While Assembly elections in five states — Madhya Pradesh, Rajasthan, Telangana, Mizoram and Chhattisgarh — are due by the end of this year, polls in Andhra Pradesh, Arunachal Pradesh, Odisha, Sikkim and Jharkhand are likely to be held along with the Lok Sabha elections. The tentative schedule of the completion of the terms for various states and Union Territories are listed below. 1. Mizoram: December 2023 2. Chhattisgarh, Madhya Pradesh, Rajasthan, Telangana: January 2024 3.

Indian capital markets through participatory notes rose to close to a six-year high at Rs 1.23 lakh crore in July-end, making it the fifth consecutive monthly increase, on the back of stable macroeconomic fundamentals. The amount has reached the highest level since December 2017 — when investment through the route stood at Rs 1.25 lakh crore, data with the Securities and Exchange Board of India (Sebi) showed. The latest data includes the value of P-note investments in Indian equity, debt, and hybrid securities. Participatory notes (P-notes) are issued by registered Foreign Portfolio Investors (FPIs) to overseas investors who wish to be part of the Indian stock market without registering themselves directly. They, however, need to go through a due-diligence process. According to Sebi data, the value of P-note investments in Indian markets — equity, debt, and hybrid securities — stood at Rs 1,22,805 crore at the end of July as compared to 1,13,291 a month earlier. In comparison, investment through the route was Rs 1,04,585 crore in May-end, Rs 95,911 crore in April-end, Rs 88,600 crore in March-end, Rs 88,398 crore in February-end and Rs 91,469 crore in January-end. The growth in P-notes generally aligns with the trend in FPI flows.

Grocery workers on strike from more than two dozen Metro Inc. supermarkets in the Toronto area have accepted a tentative agreement that ends a month-long labour dispute that shut down stores and temporarily blocked deliveries of meat and produce around the province.

Hawaii have all but finished searching for victims of the deadliest U.S. wildfire in more than a century, authorities said Tuesday, and it is unclear how many people perished.Three weeks after the fire devastated Maui’s historic seaside community of Lahaina, the count of the dead stands at 115.

Nifty ended with healthy gains on Friday, boosted by all-around buying in light of broadly positive global cues ahead of the release of the US jobs data amid hopes that the Federal Reserve will not raise rates in September. Easing US Treasury yields and the dollar also influenced the mood of the equity market. “Falls in US Treasury yields this week weighed on the dollar, which was on track to snap a six-week winning run ahead of the pivotal US non-farm payrolls figures, due before the opening bell on Wall Street," reported Reuters.

Ganesh Chaturthi, commemorating the birth of Lord Ganesha is set to commence from September 19 this year. Lord Ganesh is a revered deity who has been associated with wisdom, prosperity, and good fortune. Lord Ganesha is known by various names including Gajanana, Dhoomraketu, Ekdanta, Vakrtunda, and Siddhi Vinayaka.

Gulam Zia, Senior ED, Knight Frank, says “Home loan interest rates have been skyrocketing, perhaps the highest in almost about eight-nine odd years. But that has impacted the bottom to mid end of the market. The upper end is not so dependent, especially the luxury segment is not so dependent on home loans and that demand is going unabashedly up and the transactions there are going unbelievably high. That is where the share of affordable housing has been shrinking.”What are your thoughts on sustainability of this kind of momentum in real estate demand and where is the affordability coming from? One of the biggest drivers being cited is higher affordability. What are your thoughts there?Your question is what justifies this kind of euphoria? It is very difficult to say. A couple of thoughts; the wealth creation that we have seen in at least a year and a half or two in spite of the global gloom etc. Things have really gone well for India and that is where the traction in residential or home buys, home buying has been pretty good.

jobless claims for the week ended August 26 fell at 228,000. Shares of Salesforce climbed 3% after its upbeat revenue forecasts. Broadcom rose 3.4% and Intel gained 1.8%.

Treasury is considering banning “screen scraping” of financial data from bank accounts, a move that could force data sharing across the financial services sector into the alternative open banking regime.

The country’s largest locomotive manufacturer and its striking union workers have reached a tentative agreement that could end a two-month strike that saw about 1,400 people walk off the job at its Pennsylvania plant

Nifty failed to reclaim the short-term moving average i.e. 20 EMA despite positive global cues to form a long negative candle on the daily chart as it ended 5 points higher. Technically, this pattern indicates a bearish counterattack-type candle pattern after a small bounce.

Rise in IT stocks due to easing interest rate concerns in the US was offset by a late slide in banking and financial stocks.The BSE Sensex gained a nominal 11 points or 0.02% to settle at 65,087. The broader NSE Nifty rose 5 points or 0.02% to end at 19,347. From the Sensex pack, Jio Financial Services closed in 5% upper circuit for the second straight day.

Nifty ended flat on Wednesday dragged by losses led by banking and financial heavyweights amid weak global cues as investors remained cautious ahead of key macro numbers in the US and India. The Q2 GDP numbers of the US are expected to be released today while the PCE price index data is due on Thursday, and the non-farm payrolls report is expected on Friday.

₹4-4.5 lakh in metros while for small towns it is around ₹3 lakh," Vijay Sivaram, chief executive, Quess IT Staffing, said. “Pay difference can oscillate from 5% to 40% depending on the location .

Nifty ended in the green for the second consecutive session on Tuesday, supported by gains in the shares of select heavyweights, including HDFC Bank, Larsen and Toubro and Tata Steel amid positive global cues. However, losses in shares of Reliance Industries (RIL), Bharti Airtel and ICICI Bank capped the gains of the key indices. Global cues were largely positive.