Experts Financial News

Sunil Damania, Chief Investment Officer, MojoPMS, anticipates potential market volatility after the Lok Sabha election 2024, especially if the BJP fails to exceed 350 seats. After the election, the market will shift focus to appointing the next finance minister and the forthcoming Budget, which could further contribute to market volatility, says Damania in an interview with Mint. The base case scenario anticipates the formation of a government by the BJP.

Sikka, now the executive director and chief executive officer,has been at the helm of Nippon India MF since 2009. Some of Nippon India's MF schemes are very popular among investors. These include its small-cap mutual fund, which is ranked first in terms of assets under management (AUM).

US Federal Reserve minutes show officials rally around higher-for-longer ratesMCX Gold traded lacklustre in the morning on Friday, May 24, tracking weak global cues. According to Reuters, gold prices in international markets hit a two-week low on Friday and were set for their biggest weekly loss in nearly eight months.Also Read: Gold slips to over one-week low on hawkish Fed, US dataAround 11:45 am, MCX Gold traded 0.02 per cent lower at ₹71,565 per 10 grams.Also Read: Gold pulls back from record highs, drops by ₹2,256 over 3 sessions on profit bookingGold prices are falling due to profit booking as investors believe the US Fed will not cut interest rates anytime soon and the rate reduction later this year will be shallow.Rahul Kalantri, VP of commodities at Mehta Equities, pointed out that gold prices are falling as investors have downgraded expectations of Fed rate cuts following the previous US economic release."S&P Global's May flash readings of the manufacturing, services, and composite PMIs reveal that US economic activity is increasing.

₹32 per equity share with a face value of ₹10 each. The lot size for the GSM Foils IPO is 4,000 shares.

The recent approval of spot Ethereum exchange-traded funds (ETFs) by the United States Securities and Exchange Commission (SEC) potentially confirms Ether’s status as a non-security, according to industry experts.

London Drugs has confirmed that files stolen by hackers during a cyberattack in April have been leaked onto the dark web.

If you are looking for higher interest rates on fixed deposits (FDs), corporate fixed deposits from non-banking financial companies (NBFCs) and housing finance companies (HFCs) can be seen as an attractive option. These deposits offer higher returns when compared to major private and public sector banks. However, it is crucial to assess the risks involved before investing.

Fixed deposits (FDs) are often seen as an epitome of financial security. You put your money in, and after a fixed period, you get it back with interest added to it. Sounds foolproof, right? However, there is an advantage of safety but the returns are not ‘high’ in the true sense of the word.

Angel Onethe Nifty 50 clocked a new high to reach a milestone of 23000, but immediate follow-up is missing, bias remains positive, and traders should have a buy-on-dip approach. Key indices may consolidate, whereas broader markets may continue to outperform. 23,100 - 23,200 stiff resistance of the rising channel means one should look to book longs ahead of the key election result verdict.The benchmark index has registered a new high at 22,993, indicating bullish sentiments.

Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today - May 24The domestic benchmark indices, the Nifty 50 and the Sensex, set fresh closing highs on Thursday due to gains in banking stocks. The nation's budget deficit may be on the decline, as shown by the record dividend paid by the central bank to the government.The domestic equity indices reached a new peak on Thursday as the Nifty 50 closed over 22,900.Also Read: Stock market today: Trade setup for Nifty 50 to India VIX, five stocks to buy or sell on Friday — May 24The Nifty 50 closed 369.85 points, or 1.64%, higher at 75,418.04, while the Sensex surged 1,196.98 points, or 1.61%, to conclude at 22,967.65.Seasoned Executive Director at Choice Broking with a strong track record, Sumeet Bagadia has shared his professional advice on five breakout stocks that are now worth buying: Cochin Shipyard Ltd, Saregama India Ltd, Rail Vikas Nigam Ltd, Olectra Greentech Ltd, and Mazagon Dock Shipbuilders Ltd.1] Cochin Shipyard Ltd: Buy at ₹1,890.25, target ₹2,000, stop loss ₹1,825 ;2] Saregama India Ltd: Buy at ₹4,66.35, target ₹495 , stop loss ₹450;3] Rail Vikas Nigam Ltd (RVNL): Buy at ₹372.25, target ₹399, stop loss ₹360;4] Olectra Greentech Ltd: Buy at ₹1,808.70, target ₹2,010, stop loss ₹1,710; and5] Mazagon Dock Shipbuilders Ltd: Buy at ₹3,125.75, target ₹3,333, stop loss ₹3,020.Also Read: Dividend stocks: Vedanta, Tata Consumer Products, QGO Finance shares to trade ex-dividend on May 24The market is seeing a 1,000 point rebound from 21,800 levels as FIIs are positioning themselves in the long:short ratio, which is up from 26% longs, according to Soni Patnaik, Assistant Vice President, Equity Derivatives Research, JM Financial Services.

Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today - May 24The headline index saw a record rise, according to Vinod Nair, Head of Research at Geojit Financial Services, with prominent industries like banking and autos outperforming. Bond rates should decrease as a result of the RBI's historic payout, which is comparable to an indirect rate drop.

South Korea on Friday imposed sanctions on seven North Korean individuals and two Russian vessels over weapons trade and other activities between Pyongyang and Moscow deemed in breach of U.N. Security Council resolutions, Seoul's foreign ministry said. The Russian vessels had been carrying a large quantity of containers between Russia and North Korea transporting military supplies in a clear violation of the United Nations Security Council resolutions, the ministry said in a statement. The United States and South Korea have accused North Korea of transferring weapons to Russia for use in its war in Ukraine. Both Moscow and Pyongyang have denied the accusations, but vowed last year to deepen military relations.

visa fees could make doing business extremely difficult for Indian IT service providers and make a significant dent on their pockets. The Indian IT industry relies on H-1B visas to take tens of thousands of highly skilled workers to the US for specialty occupations as such professionals are in short supply there.

Axis Bank and Canara Bank appear to be relative stragglers in a comparative statistical study on the reasonableness of service charges, with several new-age and small-finance lenders populating the upper quartiles on this 25-strong list of financiers. IDFC First Bank, Bandhan Bank and AU Small Finance Bank are better placed on this metric, according to a study by a statistics expert from IIT Bombay.

India's electronics, pharma, engineering goods exports beat global trade slowdown during FY24 Meanwhile, RTE imports have grown marginally, from $304.96 million in FY2019 to $360.37 million in FY24. The FY24 figure marks a fall in imports of 13.6% from the previous fiscal year. “Reduction in imports indicates changing domestic consumption patterns, and increased local production," Srivastava said.

₹4.28 lakh crore as a result of the continuing upward trend in stocks, which saw the benchmark Sensex reach a lifetime high.Also Read: Stock market today: Sensex, Nifty 50 hit record highs; why did Indian stock market rise?- explained with 5 key factorsDuring the day, the NSE Nifty edged closer to the milestone 23,000 level. At 22,967.65, the 50-issue index rose by 369.85 points, or 1.64%.

South Korean police have arrested 19 people on fraud charges in a swoop on a social media “crypto reading room.”

The cryptocurrency market is showing positive signs of an uptrend, with Bitcoin crossing the $70k mark, surpassing its 2021 mark of $69k. Investors are now seeking projects that can give them massive returns from investments as low as $100.

₹16.85 trillion in the interim budget presented in February.The Centre narrowed its fiscal deficit target for FY24 to 5.8%of GDP in the Revised Estimates (RE), lower than the budgeted fiscal deficit estimate of 5.9%, on the back of robust tax collection and higher dividend payouts. Also Read: Banks may see waiver of provisioning of loans to MSMEsOn Wednesday, the RBI approved a dividend of ₹2.11 trillion for the Central government for FY24 – a massive 141% higher than in FY23. To be sure, the fiscal deficit as a share of GDP would also depend on the economic growth rate and the inflation trend, in addition to adjustments to spending and changes in receipts.The latest dividend payout from the RBI will be instrumental in compensating for any slippages in tax revenue or increased public spending in FY25, and ensure fiscal deficit reduction is in sync with the committed glide path of 4.5% by FY26, experts said.

₹74,367 per ten grams to reach a new one-week low of ₹72,111 on the MCX, marking a decline of ₹2,256. The spot gold price dropped to $2354.95 per ounce in today's session, marking a three-day slide of $71, or 3%.

Nifty Bank snapped a 2-day losing streak to close in the green with gains of nearly 1,000 points on Thursday. The Nifty Bank rose 986 points to close at 48,768, while Nifty50 hit a fresh record high of 22,993.