Experts Financial News

Angel funds are likely to get a bigger play in the coming days. These pooled vehicles could be given the opportunity to take larger bets on startups whose early-stage plans they bankroll.

European Union officials worked into the late hours last week hammering out an agreement on world-leading rules meant to govern the use of artificial intelligence in the 27-nation bloc

equities inched up to record closing levels on Monday as the Sensex briefly crossed the 70,000 mark earlier in the trading session before closing below it. The index gained 0.15% or 102.93 points to close at 69,928.53 after hitting a high of 70,057.83. The Nifty advanced 0.13% or 27.70 points to close at 20,997.10 after hitting an all-time high of 21,026.10 on Monday.

Stocks of oil marketing companies dropped on Monday as reports that the government may consider cutting retail fuel prices prompted traders to cut some of their bullish bets. Analysts said these stocks were overbought after the recent run-up but a reversal might be an opportunity to load up on some of them. Among oil marketers, Hindustan Petroleum fell 4.36%. Indian Oil and Bharat Petroleum both lost about 1%.

Morgan Stanley said steel shares may continue to underperform in 2024, as in 2023, citing weak global macro-outlook, higher domestic supply, and unattractive valuations. The brokerage said these stocks have lagged the market in 2023 despite a strong demand environment on slower-than-expected demand recovery in China.

Schneider Electric is preparing to re-list its Indian subsidiary on the Metropolitan Stock Exchange of India (MSEI), almost six years after the delisting, following a capital markets regulator's directive. In a letter of offer dispatched in November to Schneider Electric President Systems' past shareholders, who participated in the company's share buyback in 2017, it has put forth a proposal to sell the shares back to them at ₹200.40 apiece.

By Andrew Chung, John Kruzel and Andrew Goudsward

Darkness retreats have become a trending topic on social media, particularly with Sky Cave Retreats offering this unique experience in southern Oregon. The retreat has garnered attention through Instagram videos, showcasing individuals removing their blindfolds and witnessing the outside world for the first time after days spent in complete darkness. Aaron Rodgers has endorsed the intense experience after his retreat in February. The darkness retreat involves individuals spending days in a cabin devoid of light, leaving them alone with their thoughts and emotions. Despite the emotional resonance depicted in these videos, mental health experts emphasize that the psychological effects of darkness retreats remain largely unstudied. Scott Berman, the founder of Sky Cave Retreats, also cautions that the experience is more challenging than it may appear on social media.

MUMBAI : Driven by foreign institutional inflows, the Sensex hit the 70,000-mark for the first time on Monday, with 70% of its last 10,000-point sprint taking just 31 days. The feat, reflecting the bullish momentum in the markets, was achieved a session after the Nifty 50 tested the 21,000-mark. Both the Sensex and the Nifty closed a tad off their intraday highs, gaining over one-tenth of a per cent each at 69,928.53 and 20,997.10.

Bank of India (RBI), witnessed a threefold increase in wilful defaults in the past one year to ₹416 crore, according to data from TransUnion Cibil. This surge in defaults may have exacerbated its challenges in the lead-up to regulatory action. These are accounts of ₹25 lakh or more where the bank has initiated legal action for wilful defaults.

NEW DELHI : India is negotiating an end-of-summit declaration with both member and guest nations for the Global Partnership for Artificial Intelligence (GPAI) Summit on 12 December, said union information technology minister, Ashwini Vaishnaw, on Monday. At a pre-summit press briefing, Vaishnaw said the declaration aims to advance talks on global AI regulatory frameworks, besides pitching for a digital public infrastructure (DPI)-like model that could be adopted by participating nations. “There will be regulatory aspects that are in line with past agreements and declarations.

As Javier Milei assumes leadership in Argentina, the cryptocurrency community is already voicing expectations for swift changes in the country’s economic trajectory.

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Mankind Pharma through block deals on Tuesday, according to news reports. Chrys Capital, Capital Group and Everbridge Partners are looking to sell 5-6% stake in the pharmaceutical major.

Religare Enterprises (REL), raising eyebrows. Proxy Advisory Firm InGovern Research raised concerns, alleging a “vested interest" and regulatory breaches in the remuneration provided to REL’s chairperson; media reports refer to employee stock option programme (ESOP) benefits exceeding ₹480 crore doled out by REL and its health-insurance subsidiary CARE, in addition to other perks, despite their financial challenges. It has been alleged that ESOP shares of CARE were issued despite rejection by India’s insurance-sector regulator (bit.ly/3uWmkTp), which has raised questions on it.

Leah Zlatkin, mortgage broker and Lowest Rates expert, talks with Financial Post’s Larysa Harapyn about the impact a Bank of Canada rate cut could have on Canada’s real estate markets and the different strategies to handle the dynamics based on what stage you are at in your homebuying journey.

Now could be a great time to buy a home if you are ready to enter the housing market, says an industry expert.

The NSE Nifty 50 index rose 0.13% to 20,997, while the S&P BSE Sensex settled 0.15% higher at 69,928. Here's how analysts read the market pulse: «There's a strong resistance at 21,000, with call writers actively building positions. A decisive breakthrough above 21,000 is necessary to resume the uptrend.

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