Experts Financial News

Also Read: Five assets that could beat inflation in 2024 This is a noteworthy turnaround from 2022, when Bitcoin witnessed a significant 65% dip amid tightening monetary policy and a series of blowups that exposed high counterparty risk. Bitcoin price has jumped $25,506 in 2023, reaching $42,208, according to CoinDesk prices.

Indian stock market: Nifty remained sideways during the session, fluctuating within the range of 21650-21750. A doji pattern has formed on the daily chart, indicating indecisiveness in the market. This sentiment requires confirmation through a decisive breakout above 21750 or a breakdown below 21650.

There have been 46 IPOs in 2023, raising a cumulative Rs 41095.36 crore. This marks a 30% decline from Rs 59301.7 crore raised through 40 IPOs in 2022. The record-breaking blockbuster year of 2021, with 63 IPOs raising a whopping Rs 1,18,723.17 crore, set a high benchmark.

performance since 2017, with the Nifty 50 and the Sensex rising by 20 per cent and 19 per cent respectively. Additionally, the midcap and smallcap indices significantly outshone the benchmarks, with the BSE Midcap index soaring by 46 per cent and the Smallcap index surging by an impressive 48 per cent.

rose around 20 per cent in 2023, logging their second-best year since 2017. D-Street investors added a significant ₹81.90 lakh crore to their wealth in 2023 powered by a stellar rally in stocks. The bull run was supported by sustained domestic mutual fund inflows, foreign capital inflows, better-than-expected economic growth, and robust corporate earnings.

Republic Day, which falls on Friday this year, is the only national holiday when banks will be closed for long weekend as it is followed by fourth Saturday and Sunday. List of long weekends in 2024: Plan your holiday trips now to save money in the new year Here is a look at bank holidays in January 2024 across states: January 1 (Monday) New Year’s Day- Banks are closed in Mizoram, Tamil Nadu, Sikkim, Arunachal Pradesh, Manipur, Nagaland, and Meghalaya these states will be closed on January 1 on the occasion of New Year’s Day. January 2 ( Tuesday) New Year’s Celebration: Banks will be closed in Mizoram. January 11 (Thursday), Missionary Day: Banks closed in Mizoram. January 15 (Monday); Uttarayana Punyakala/Makara Sankranti Festival/Maghe Sankranti/Pongal/Magh Bihu- Banks closed in Karnataka, Orissa, Tamil Nadu, Andhra Pradesh, Telangana, Sikkim, Assam. January 16 (Tuesday); Thiruvalluvar Day- Banks closed Tamil Nadu. January 17 (Wednesday)- Uzhavar Thirunal/Sri Guru Gobind Singh Ji Birthday- Chandigarh and Tamil Nadu, January 22 (Monday)- Imoinu Iratpa- Banks are closed in Manipur. January 23 (Tuesday)- Gaan-Ngai- Banks are closed in Manipur. January 25 (Thursday)- Thai Poosam/Birthday of Md. Hazarat Ali- Tamil Nadu, Maharashtra, Uttar Pradesh. January 26 (Friday)- Banks are not closed in Tripura, Uttarakhand, Bengal.

Multibagger penny stocks 2023: Investing in penny stocks is risky but if you chose using your wit and grit properly, you can achieve massive return in quick time. However, it is also important to acknowledge that most of the penny stocks are low float in nature and they can swing either side on a single trigger. But, still a good number of stock market investors with high-risk appetite invest in penny stocks expecting whopping gains in small time.

BSE Sensex rose around 20 per cent in 2023, their second-best year since 2017, and were among the top-performing stock indexes globally. The broader small- and mid-caps gained about 55.62 per cent and 46.57 per cent in 2023, far outperforming the blue-chip indexes despite valuation concerns. The bull run was supported by sustained domestic mutual fund inflows, foreign capital inflows, better-than-expected economic growth, and robust corporate earnings.

fixed deposit investors who saw a significant rise in interest rates. While the highest FD interest rate in major banks generally is in the range of 7%-8%, it went up to 9.5% and above in some small finance banks.

India is anticipated to experience a notable upswing in liquefied natural gas (LNG) imports in 2024, with projections suggesting a substantial 7 per cent-8 per cent year-on-year increase. This surge is expected to be driven by heightened demand across key sectors, including power, industrial, and transportation, coupled with infrastructure development in anticipation of national elections, as per S&P Global. Ayush Agarwal, an LNG analyst at S&P Global Commodity Insights, highlighted that while the fertilizer sector remains the largest consumer of LNG, the power and industrial sectors are poised to contribute significantly to the import upswing if spot prices align closely with the levels witnessed in 2023. Agarwal said, «India's LNG imports will continue to increase, with an expected 8 per cent year-on-year growth in 2024. While the fertilizer sector will remain the largest consumer of LNG, the power and industrial sectors could contribute to an increase in imports if spot prices average close to 2023 levels». India's current gas-based power capacity stands at approximately 25 GW, translating to a demand for approximately 30 million-35 million mt/year of LNG. Industry sources based in Singapore suggest that a few gas-based power units, historically reliant on domestic gas due to high LNG prices, are likely to transition back to LNG consumption in 2024 owing to the anticipated weakness in LNG prices. An industry source based in Singapore said, «India currently has about 25 GW of gas-based power capacity installed.

United Kingdom will introduce significant changes to its Visitor Visas, allowing additional business activities, according to the updated immigration rules published by the UK government. Under the new guidelines, visitors will be allowed to continue to work for an overseas employer while staying in the UK. Nevertheless, the primary intent of their visit must be tourism, visiting family, or engaging in another non-work-related activity.

Sukanya Samriddhi Yojana (SSY) for the January-March quarter. Sukanya Samriddhi is a unique program designed specifically for girls. A girl's natural or legal guardian can create an account in her name from the time of her birth until she turns ten years old. This program will help parents to fund their girl child’s higher education and/or marriage as well as ensure her financial future because it offers guaranteed interest income and tax deductions. Sukanya Samriddhi, 3-year post office FD rates hiked up to 20 bps; check latest small savings schemes interest rates

Question: I am an individual taxpayer and have sold off certain unlisted shares in my portfolio. Kindly guide me on the tax implications on the gains derived from such transfer.

By Chaitali Dutta

ETtech recaps the top tech policy developments of 2023 and its significance.

Dividend stocks 2023: A long term investor not just gain from stock price rise but from various other rewards that a listed company declare from its capital reserves. Dividend payout is one such benefit that a long term investor enjoys.

Covid-19 in India: 162 cases of JN.1 sub-variant recorded so far | 10 updates "Health institutions and people should stay alert for the next 10-15 days to check the spread of coronavirus infection. Those already having some illness must avoid such gatherings," he added. Maharashtra has reported 129 cases of Covid as of Friday (29 December).

₹1.21 lakh crore in 2022, foreign portfolio investors (FPIs) returned as buyers in 2023, buying Indian equities worth ₹1.65 lakh crore. This was the highest FPI inflow since 2020 when buying stood at ₹1.7 lakh crore. This came on the back of improving macros, markets on a record-high streak, declining inflation, hopes of a rate cut in 2024, and the possibility of the incumbent government returning for a third term in the general elections next year.

BSE Midcap index soared by 46 per cent, while the Smallcap index surged by 48 per cent, showcasing remarkable market resilience and investor confidence. The remarkable performance of the domestic market this year can be attributed to several factors, including a strong macroeconomic environment, anticipated rate cuts, and increased foreign capital inflows. However, a standout factor has been the significant surge in the number of retail investors, which has played a pivotal role in driving the market's stellar performance thus far.

India records over 4,000 active Covid cases, 5 deaths today | 10 updates The Centre has asked the states and Union territories to maintain a constant vigil amid an uptick in the number of Covid cases and the detection of the JN.1 sub-variant in the country. New Year 2024: Top 7 precautions to take while partying amid rising Covid cases Covid update: 109 JN.1 cases in India to K'taka's home isolation. 10 points JN.1 Covid variant 'more transmissible, infectious': Expert warns of more cases Milestone Alert! Livemint tops charts as the fastest growing news website in the world

Buy or sell stocks for next week: Key benchmark indices of the Indian stock market gave up its five days winning streak and ended the last trade session of 2023 on a flattish note amid profit booking in select heavyweights. Nifty 50 index remained in negative territory throughout the session and closed with minor loss of 22 points at 21,731 levels. BSE Sensex finished 0.23 per cent lowe at 72,240 levels whereas Nifty Bank index lost 0.45 per cent and ended at 48,292 levels.