Experts Financial News

Explore Wall Street's expert insights with this ProResearch article, which will exclusively be available to InvestingPro subscribers soon. Enhance your investment strategy with ProPicks, our newest product featuring strategies that have outperformed the S&P 500 by up to 700%. This Cyber Monday, enjoy up to 60% off, plus an extra 10% off a 2-year subscription with the code research23 , reserved for the first 500 quick subscribers. To ensure ongoing access to valuable content like this, step up your investment game with InvestingPro.

Explore Wall Street's expert insights with this ProResearch article, which will exclusively be available to InvestingPro subscribers soon. Enhance your investment strategy with ProPicks, our newest product featuring strategies that have outperformed the S&P 500 by up to 700%. This Cyber Monday, enjoy up to 60% off, plus an extra 10% off a 2-year subscription with the code research23 , reserved for the first 500 quick subscribers. To ensure ongoing access to valuable content like this, step up your investment game with InvestingPro.

Canada’s national police force has arrested a youth in Ottawa in relation to an alleged terrorism threat against the Jewish community, Global News has learned.

National Retail Federation CEO Matt Shay dissects consumer spending and the retail industry as shoppers hit stores across the country for Black Friday.

BSE Sensex reported it longest weekly winning streak in six years, as it rallied to cross its lifetime high mark of 71,000 on the back of strong global cues. On the stock-specific front, Mangalam Cement, TVS Holdings, INOX Green Energy, Hudco, HBL Power, Mastek, KPI Green Energy, RBL Bank, Equitas Small Finance Bank, Coforge, Aether Industries, and others are among the smallcaps that logged a double-digit rise in their share prices last week.

On December 4, the Singapore government revealed its ambitious National AI Strategy 2.0, an evolution of its first AI strategy introduced in 2019. This updated strategy delineates a comprehensive roadmap for the next 3-5 years, aiming to position Singapore at the forefront of AI innovation and application.

The crypto market is holding a green candle after starting December with bulls on the front foot. As a result, top altcoins like Ethereum (ETH) and Solana (SOL) have recorded double-digit gains. Meanwhile, Rebel Satoshi ($RBLZ), an upcoming meme coin, has seen tremendous investor interest after surging 30% in three weeks.

Bitcoin spot ETF applicants will almost certainly be forced by regulators to adopt an “in-cash” redemption model for their fund’s shares, according to Bloomberg ETF analyst Eric Balchunas.

General Atlantic sold a nearly 10% stake in KFin Technologies through the open market on Friday, making a profit of Rs 851 crore. The private equity major sold 1,70,00,000 shares of the company at Rs 500.25 apiece, according to bulk deals data. Shares of KFin Technologies ended 3.2% down at Rs 514.75 on the NSE.

US Fed and hit fresh lifetime highs led by IT and bank stocks. The momentum is expected to continue in tune with positive Asian markets and on favourable cues from the US markets. The index has broken out of consolidation, driven by an increase in long positions compared to short trades among participants, Rupak De, LKP Securities, said as he sees the sentiment remaining robust with the index maintaining a position comfortably above crucial moving averages.

NEW DELHI, MUMBAI : The ministry of steel has begun consultations with domestic producers to explore strategies for reining in imports as these have exceeded exports from India, the world’s second-largest producer of the alloy. India imported 4.3 million tonnes of steel between April and November this year, as against exports of 4 million tonnes, becoming a net importer of the alloy. Experts attribute the shift in the trade balance to low international prices of steel and higher domestic prices, which not only made imports viable but also inhibited exports.

market rally that saw the benchmark Sensex breaching the 71,000-mark for the first time on Friday. The US Federal Reserve keeping its key interest rate unchanged and signalling rate cuts next year, along with continuous foreign fund inflows into the equity markets, have fuelled the rally in stocks. Rallying for the third day running, the 30-share BSE Sensex jumped 969.55 points or 1.37 per cent to settle at its new all-time high of 71,483.75 points.

Also Read: Zomato skyrockets 108% in 2023: A look at how other new-age stocks performed this year Moreover, the strong demand from the retail segment continued on the final day, with the subscription rate soaring to 9.79 times. Non-institutional investors also displayed significant interest in the offering, as the subscription in the segment reached 28.47 times. Overall, the IPO received bids for 65,59,44,390 shares on the final day as against the 1,79,10,449 shares available for subscription, translating into a subscription rate of 36.62 times.

Vladimir Putin condemned Israel's incessant bombing of Palestine's Gaza Strip, he also promised to intensify the offensive in Ukraine that started over a year ago. Ukraine's increased commination comes at a time when the United States is struggling to send aid ahead of their Presidential Polls in 2024. Meanwhile, despite the United Nations Security Council's resolution demanding an immediate ceasefire in Gaza, Israel's Prime Minister Benjamin Netanyahu has vowed to continue bombing the densely populated Gaza Strip ‘with or without international support’.

Government researchers in the U.S. are studying methods to help identify hackers based on the code they use to carry out cyberattacks. The Intelligence Advanced Research Projects Activity, the lead federal research agency for the intelligence community, plans to develop technologies that could speed up investigations for identifying perpetrators of cyberattacks.

Nifty on Friday ended 274 points higher to new lifetime high highs and formed a green candle on the daily and weekly charts. Further upsides are likely once the immediate resistance of 2,1492 is taken out. Caution is however warranted for the near term as the 14-day RSI at 84.93 is in overbought territory. Thus, any short-term corrections can be utilized to buy into quality stocks, said Subash Gangadharan, senior technical and derivative analyst at HDFC Securities. The 14-week RSI is at 75.87, which implies that it is not extremely overbought and there is scope for more upsides in the intermediate term. Option data reveal heavy writing in 21,100 PE and 21,200 PE and addition in 21,400 CE and 21,500 CE. What should traders do? Here’s what analysts said:

Nifty and Sensex hit record highs in trade today (December 15) for the second straight session after the US Fed signaled that its interest rate-hiking policy is at an end and it will cut rates in 2024. The Sensex rose over 720 points to its new high of 71,234.63, whereas the broader Nifty50 index advanced 214.4 points to its record high of 21,397.10. The US Federal Reserve has opted to maintain unchanged interest rates and has additionally signaled the likelihood of three quarter-point cuts to the benchmark interest rate in the coming year.

The rupee ended at 83 against the U.S. dollar, up 0.4% on the day, its best single-day performance since April 5. The local unit logged its biggest weekly gain since Aug.

P & G Hygiene(up 1.86%), Bikaji Foods International(up 1.64%), Bajaj Consumer(up 1.31%), Dodla Dairy(up 0.80%), Gillette India(up 0.72%), Nakoda Group(up 0.51%), Colgate Palmolive(India)(up 0.45%), TATA CONSUMER PRODUCTS(up 0.45%), Dangee Dums(up 0.42%) and Zydus Wellness(up 0.29%) stood among the top gainers. JHS Svendgaard Laboratories(down 3.27%), Parag Milk(down 2.39%), Nestle India(down 1.72%), ADF Foods(down 1.67%), Vadilal Industries(down 1.64%), Dabur India(down 1.42%), Emami(down 1.08%), Mrs Bectors Food Specialities(down 0.98%), Euro India Fresh Foods(down 0.93%) and Britannia Industries(down 0.66%) were among the top losers of the day.

Stock at 52 week high: LKP Finance shares are one of the multibagger stocks that Indian stock market has delivered in 2023. In year-to-date (YTD) time, this small-cap stock has risen from around ₹91.50 to ₹220.55 per share levels on BSE, logging around 140 per cent rise in this time. However, it seems that the stock has some steam left in it.

Bajaj Holdings & Investment Ltd. slipped 1.52 per cent to Rs 8194.8 in Friday's trade as of 02:00PM (IST). The stock hit a high price of Rs 8360.0 and low of Rs 8175.0 during the session.