Experts Financial News

The Reserve Bank of India (RBI) commenced its three-day Monetary Policy Committee (MPC) meeting on December 6, 2023. The committee’s verdict on the crucial policy rates is eagerly awaited and is scheduled to be disclosed on December 8, 2023.

Bharat Forge Ltd.(up 0.73 per cent), Tube Investments of India Ltd.(up 0.65 per cent), Balkrishna Industries Ltd.(up 0.44 per cent), Tata Motors Ltd.(up 0.18 per cent) and Eicher Motors Ltd.(up 0.11 per cent) were among the top gainers. Ashok Leyland Ltd.(down 0.56 per cent), Hero MotoCorp Ltd.(down 0.45 per cent), Bosch Ltd.(down 0.3 per cent), TVS Motor Company Ltd.(down 0.27 per cent) and Bajaj Auto Ltd.(down 0.24 per cent) were the top losers on the index.

Zee Entertainment Enterprises Ltd. traded 3.4 per cent up at Rs 280.75 at around 10:00AM (IST) on Friday. The stock had closed at Rs 271.5 in the previous session.

MphasiS Ltd. traded at Rs 2433.4 on BSE at 10:05AM (IST) on Friday, up 1.53 per cent from previous close. The scrip quoted a 52-week low price of Rs 1660.65 and a high of Rs 2550.95.

SK Ghosh, Group Chief Economic Advisor, SBI, says “if you look into the data of the US consumer spending and other data, labour markets are saying house prices are now declining in the US. Taking all these factors into account, I believe that possibly the slowdown in the global economy, specifically the US, at a rate which is larger than anticipated by the market would be the possible source of outside risk for the Indian economy.” What is your view on what is happening to the yield rates globally? 10-year yields are coming down from 5% plus to 4.2-4.3% thereabouts. What is the normalised level world should make do with? Do you think 4.2%, 4.3% is the new normal or is it headed lower? As we have said in our report recently, the outlook on the global economy so far is that the US could be spared a major recession and the growth has been very strong. But beyond these headline growth numbers, the US’ real economy numbers do not look so inspiring at this point of time. The payroll numbers have been revised downwards by eight times in nine months. There have also been some recession indicators showing that the US could be possibly on the verge of a significant slowdown. The only thing which is keeping the US economy headline growth strong is currently the excess savings of $1 trillion the US consumers have built up over the years.

interest rate has been pushed further, as the Reserve Bank of India (RBI) did not cut the repo rate. This is the fifth consecutive RBI Monetary Policy Committee meeting to keep the repo rate unchanged. This pause in repo rate increase started after a significant hike of 2.5% within a short span of 10 months during May 2022 to February 2023. Home loan borrowers have been going through one of the most testing times as they have to pay almost 20% higher EMI than what they were paying just two years ago. When can home loan borrowers expect the interest rate to fall and how can they make the best of any future rate cut?

While banks had raised their fixed deposit (FD) rates, the increases have not been close to the repo rate’s 2.5% rise. The RBI had raised its concerns about a shortfall in transmission in the interest rates. Banks have been facing tighter liquidity conditions and higher credit growth, which have also been pushing the rates up in the short term.

RBI Monetary Policy (MPC) Meet Live Updates: Reserve Bank of India (RBI) Governor Shaktikanta Das will unveil the fifth monetary policy of the financial year 2023-24 today at 10:00 am after a two-day review, amid strong macroeconomic fundamentals and resilient domestic markets. The review by the six-member Monetary Policy Committee (MPC) led by Das will likely indicate the course RBI will adopt in the remainder of the financial year as it seeks to bring inflation under the 4 per cent target amid high food prices.

Buy or sell stocks for today: On account of retreat in the US stock market and weakness in global market sentiments, Indian stock market snapped its seven days winning streak on Thursday. Nifty 50 index ended 36 points lower at 20,901 levels, BSE Sensex lost 132 points and closed at 69,521 mark whereas Bank Nifty finished marginally higher at 46,841 levels. However, broad market indices continued to climb new peak on yet another session.

RBI) as equity benchmarks Nifty 50 and Sensex snapped their seven-day winning streak in the previous session. Profit booking in select heavyweights, sell -off by foreign investors amid weak global cues contributed to the fall in markets on Thursday, December 7. Nifty 50 index closed at 20,901.15, down 37 points, or 0.17 per cent and the 30-share Sensex settled 132 points, or 0.19 per cent, lower at 69,521.69.

Stock market today: Following weak global sentiments after a retreat on Wall Street, Indian stock market snapped seven days winning streak on Thursday. Nifty 50 index ended 36 points lower at 20,901 levels, BSE Sensex lost 132 points and closed at 69,521 mark whereas Bank Nifty finished marginally higher at 46,841 levels. In broad market, both small-cap and mid-cap indices climbed to a new high.

Ashutosh Tiwari, Managing Director and Head of Institutional Equities at Equirus believes Budget 2024 may be balanced, along with growth orientation, and it will also include populist measures with a focus on rural and lower strata of society which has been under distress post Covid. In an interview with Mint, he says NDA's win in the 2024 General Election will not trigger any sharp rally in the market.

Private equity firms TPG, Matrix Partners, and Peak XV Partners are anticipated to divest up to an 8.81% stake in the non-banking finance company Five Star Business Finance through a block deal on Friday. The deal is likely to raise up to ₹1,876 crore as per a term sheet issued by banker ICICI Securities. The three funds collectively have proposed to sell 17.1 million shares, equivalent to 5.87% of the equity, with an option to increase the share sale to 25.7 million shares, constituting 8.81% of the total equity, according to the term sheet. The floor price for the deal has been set at ₹730 per share, representing a 3.51% discount to Thursday's closing price of ₹756.55 per share on the NSE.

Real Estate Investment Trusts (REITs) listed on domestic stock exchanges have largely been forgettable bets for many investors in 2023 so far as a delay in the pick-up in commercial real estate, a slowdown in the IT sector, and higher interest rates have capped returns. Prices of the listed REITs have mostly fallen so far this year, but investment advisors see better prospects for this asset class in 2024 if the government eases occupancy rules in special economic zones (SEZs). REITs are vehicles that own and operate income-producing properties mainly office spaces and commercial real estate.

AI in Indian languages with launches lined up in the coming months, but experts said it may take 3-5 years for India to have its own ChatGPT equivalent. Gurgaon-headquartered startup Soket Labs is eyeing the release of its foundation multilingual large language model (LLM) ‘Pragna’ by Q2 next year, founder and CEO Abhishek Upperwal told ET. A 7 billion parameter version of Pragna, trained on India’s 23 scheduled languages and English, will be released open source, followed by a 30 billion parameter model a few months thereafter, he said.

Bitcoin (BTC), the world’s foremost cryptocurrency, has experienced a significant surge, breaching the $44,000 threshold while maintaining a strong position above $43,000. This impressive rally is largely driven by substantial buying from both individual and institutional investors, which has resulted in a marked increase in open interest (OI).

NSA Ajit Doval participated in the 6th NSA-level Meeting of the Colombo Security Conclave on Thursday in Port Louis, Mauritius to give push to steps to stabilise Indian Ocean Region. The Colombo Security Conclave was established in 2020 when India, Sri Lanka and Maldives agreed to expand the scope and membership of their Trilateral Meeting on Maritime Cooperation. Mauritius joined the conclave at the 5th NSA-level meeting of the Conclave on 09-10 March 2022 held in Male, Maldives. Cooperation under the CSC focuses on five pillars of cooperation including maritime safety and security, countering terrorism and radicalization, combating trafficking and transnational organized crime, cyber security and protection of critical infrastructure and humanitarian assistance and disaster relief.

The Conjuring House made headlines once more in an unexpected turn of events, but this time there was no supernatural explanation for it. Social media users were horrified when the barn at 1677 Round Top Road, which is well-known for its «paranormal» events, caught fire on Monday morning.

Meta is rolling out end-to-end encryption for calls and messages across its Facebook and Messenger platforms, the company announced Thursday. Such encryption means that no one other than the sender and the recipient — not even Meta — can decipher people's messages. Encrypted chats, first introduced as an optional feature in Messenger in 2016, will now be the standard for all users going forward, according to Messenger head Loredana Crisan.

SAT) has set aside the Securities Exchange Board of India's (Sebi)’s order restraining IIFL Securities from taking new clients for a period of two years and has reduced the penalty imposed on the brokerage firm to Rs 20 lakh from Rs 2 crore. SAT, in an order issued on Thursday, said that there had been no misuse of client funds, and by wrongly considering the non-funded portion of the bank guarantee as per the 2016 circular, an attempt has been made out to show that there was a misuse of client funds. «On account of the aforesaid, the direction of the whole-time member debarring the appellant (IIFL Securities) under the Intermediaries Regulations from taking new clients for a period of two years cannot be sustained», said the order. In June, Sebi barred the brokerage from taking new clients for two years for violating regulations that pertain to the segregation of clients' funds. The tribunal, in its order, also reduced the penalty imposed on the brokerage from Rs 1 crore to Rs 20 lakh, citing there was no misuse of the client’s funds. “We find that the appellant (IIFL Securities) has failed to change the nomenclature of the bank accounts of the client as required to be done under the 1993 circular. Considering the aforesaid that it is only a technical breach, we are of the opinion that in the given circumstances for the two show cause notices, a penalty of Rs.

OpenAI. At the Mint AI Summit to be held on Friday in New Delhi, a host of experts will discuss how to make the best use of AI and GenAI models, and address the challenges and disruptions that the exponential growth of these new technologies poses.