Experts Financial News

NEW DELHI : Bhavish Aggarwal, cofounder of Ola Cabs, has announced a startup that he said is building “India’s own" foundational artificial intelligence (AI) model. The government, too, has been speaking about an India AI Programme. What exactly is ‘Indian’ AI? Mint decodes: What is colloquially referred to as ‘Indian’ AI is currently aspirational, referring to datasets that foundational AI models are trained on.

US Federal Reserve said that it expects the federal funds rate to be at 4.6% by end 2024 and lower thereafter, down from the earlier forecast of 5.1%. The federal funds rate is the rate at which banks in the US lend money to each other on an overnight basis. The rate currently stands at 5.25-5.5%.

Covid cases are on the rise again. Singapore has issued a health advisory as new cases climbed to some 56,000 in the December 3-9 week, up from some 32,000 the week earlier. Experts say there is no cause for worry.

inflation with prices of jeera, turmeric, chillies, black pepper and other spices soaring as lower crop acreage and pest infestation have impacted their production. Spices inflation has remained above 22% since July, and economists said it could add another 0.6 percentage point to retail inflation between December and March as prices are unlikely to ease until the next harvest. The category has only a 2.5% weight in the inflation basket, but they influence prices of many food products.

Like it or not, generative artificial intelligence has arrived on Wall Street — and experts expect it to transform the way firms do business.

The company allocated 21 lakh equity shares at Rs 100 per share to anchor investors. PGIM India Fund, BOFA Securities and Negen Undiscovered Value Fund among others were the buyers. The IPO is completely a fresh issue of 1 crore shares.

popular international destination in 2023, as per global travel marketplace Skyscanner that shared a wrap-up of how India travelled in 2023. Bangkok was the second most popular international destination for Indian travellers this year. «From savoring street food delights in bustling markets to exploring ornate temples like Wat Pho and indulging in the vibrant nightlife along Khao San Road, the city known for its bustling energy and cultural richness captivated Indian travellers in 2023,» Skyscanner said in a statement.

Crimes against women in India rose by 4% in 2022 from the previous year, a majority of the cases being cruelty by the husband or his relatives (31.4%). Delhi is still rated as the country’s most unsafe city for women, with an average of three reported rape cases per day, accounting for 29% of crimes committed against women in 19 major cities, according to 2023 data from the National Crime Records Bureau (NCRB).

A Norwegian-owned vessel was attacked in the Red Sea on Monday and oil major BP said it has temporarily paused all transits through the body of water. Other shipping firms said over the weekend that they would avoid the route. Brent crude futures were up $2.82, or 3.7%, to $79.37 a barrel by 1454 GMT, while U.S.

Adani Green Energy has incorporated four step down subsidiaries — Adani Renewable Energy Sixty, Adani Renewable Energy Sixty Two, Adani Renewable Energy Sixty Three and Adani Renewable Energy Sixty Four. The four step down entities have an authorised and paid share capital of Rs 1 lakh each.

The recent crackdown on Binance by the US Department of Justice (DOJ) has triggered a seismic shift in how the crypto industry operates, with Binance now set to undergo what experts call an “unprecedented” level of scrutiny.

box office, Timothée Chalamet's fantasy musical, "Wonka," has proven to be a crowd-pleaser, raking in an impressive $39 million during its opening weekend. Despite its $125 million budget, the family film's promising start bodes well, especially given the holiday season's tendency to foster enduring success rather than explosive openings. Notably, Warner Bros. can take heart in the film's «A-» CinemaScore and the favorable 83% «fresh» rating on Rotten Tomatoes, indicating both audience and critical approval. Industry expert David A. Gross of Franchise Entertainment Research remarked on the positive trajectory, stating, "‘Wonka’ has the right tone for the holidays, and momentum is very good." The film's resonance extends beyond domestic borders, as it has already amassed $43 million in the international box office, with an additional $53.6 million from 77 markets, bringing its global earnings to an impressive $150 million.

Pakistan Army Chief Gen Syed Asim Munir during his USA trip in a desperate move has launched a charm offensive on the Pakistani diaspora, urging them to invest in Pakistan. Wealthy Pakistani individuals in the USA — investors, physicians, IT professionals, engineers, university professors, financial experts, and economists attended an event during the ongoing visit of Munir.

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sunshine vitamin’! Vitamin D is a fat-soluble nutrient that is essential for our health. It plays a key role in boosting our immunity as well as bone health. It also has a crucial role in preventing several chronic health issues such as type 2 diabetes, bone loss, compromised heart health, etc.

Nestle India has fixed January 5, 2024, as the record date to determine eligible shareholders for the stock split announced by the company in October. In October, the board approved splitting shares of face value Rs 10 into 10 shares of Rs 1 face value each. The company received shareholders’ approval for the same earlier this month.

Shares of Punjab National Bank(up 0.1 per cent) and State Bank of India(up 0.03 per cent) ended the day as top gainers in the pack. On the other hand, ICICI Bank Ltd.(down 1.53 per cent), Au Small Finance Bank Ltd.(down 1.27 per cent), IndusInd Bank Ltd.(down 0.91 per cent), Axis Bank Ltd.(down 0.8 per cent) and Federal Bank Ltd.(down 0.31 per cent) finished as the top losers of the day.

On the BSE, Angel Fibers(down 14.57 per cent), Enterprise Intnl(down 10.57 per cent), East West Holdings(down 9.85 per cent), Arnold Holdings(down 8.73 per cent) and SRG Housing Fin(down 8.02 per cent) stood among the top losers in today's trade. In the Nifty pack, 19 stocks closed in the green, while 31 stocks ended in the red.

Nifty on Monday ended 38 points lower to form a Bullish Harami candle on the daily chart. The index made lower tops and also closed below the 20-day moving average. “We believe that the markets have taken a breather after the sharp rise seen last week. So any corrections are likely to be short-lived and can be utilised to buy into quality stocks. Immediate resistance is now at 21,483,” said Subash Gangadharan, senior technical and derivative analyst at HDFC Securities. On the hourly charts, RSI indicator saw a bearish crossover within the oversold zone, hinting at a waning bullishness in the market, analysts said. OI data showed that on the Call side, the highest OI observed was at 21,500 followed by 21,600 strike prices while on the Put side, the highest OI was at 21,300 strike price. On the other hand, Bank Nifty has support at 47,650-47,500 while resistance is placed at 48,100 and 48,200 levels. What should traders do? Here’s what analysts said:

The NSE Nifty index ended the session 38.0 points down at 21418.65, while BSE Sensex fell 168.66 points to 71315.09. In the Nifty index, Bajaj Auto Ltd.(up 3.04 per cent), Hindalco Industries Ltd.(up 1.64 per cent), Adani Ports & Special Economic Zone Ltd.(up 1.46 per cent), Sun Pharmaceutical Industries Ltd.(up 1.38 per cent) and Reliance Industries Ltd.(up 1.02 per cent) stood among the top gainers.

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