Experts Financial News

Sensex ended 187.75 points lower at 65,794.73 while the Nifty 50 declined 33.40 points to settle at 19,731.80. Nifty 50 formed a small positive candle on the daily chart with a long upper shadow.

Gold prices edged lower in early Asian hours on Monday after hitting a two-week high in the last session, weighed by a slight uptick in U.S. Treasury yields, although expectations that U.S.

The weakness on Friday was largely due to the selling pressure in the banking and financial services sector following the Reserve Bank of India’s move to tighten rules on unsecured consumer loans. This move saw shares of SBI Cards and Payment Services plunge more than 5%, and those of Aditya Birla Capital drop as much as 7% intraday. SBI Cards stock also hit its lowest level in nearly 9 months at Rs 720.80.

Buy or sell stocks for today: After trading range-bound throughout the day, Indian stock market finally ended lower on Friday last week. Nifty 50 index lost 33 points and ended at 19,730 levels, BSE Sensex went down 187 points and closed at 65,794 mark while Nifty Bank index corrected 577 points and finished at 43,583 levels.

World Cup. Many members of the present team are likely not to be part of India’s squad in 2027. As India still recovers from the heartbreak, let’s have a look at the reasons why the Men in Blue fell short of their Australian counterparts.

Dividend stocks 2023: Shares of Anupam Rasayan India Ltd, Aurobindo Pharma Ltd, Balrampur Chini Mills Ltd, Bella Casa Fashion & Retail Ltd, Cochin Shipyard Ltd, Dolat Algotech Ltd, GMM Pfaudler Ltd, GM Polyplast Ltd, Kaveri Seed Company Ltd, Mazagon Dock Shipbuilders Ltd, Olatech Solutions Ltd, and Atul Ltd will be in focus when stock market opens today. The board of directors of these companies has declared an interim dividend, bonus issues, and buyback of shares for its eligible shareholders.

primary market will be abuzz with activity in the week ahead with five companies scheduled to launch IPOs (Initial Public Offerings) worth over ₹7,000 crore. Analysts said the strong sentiment in the secondary market could help these IPOs and advise investors to subscribe to these issues at least for listing gains.

Grasim's paint operations may weigh on investor sentiment. Crude oil prices, currently below $80 per barrel, impact around 40% of the raw material costs for paint companies as the cost of binders — a key input material — is linked to the prices of crude oil. Crude oil prices are seen remaining weak in the near term amid concerns of demand weakening globally. With prices of another key raw material — titanium dioxide — also having seen a sharp correction from its peak levels, profitability is seen improving in the current quarter, but to a limited extent. This reflected in the shares of major paint companies, which ended 1-4% higher on Friday, even as the benchmarks Nifty 50 and Sensex ended marginally in the red. «Historically we have seen that paint companies do not see a drastically different margin profile, because when raw material prices correct, they pass on most of it to the customers,» said George Thomas, fund manager for equities at Quantum Mutual Fund, who sees profitability improving by around 100 basis points. Asian Paints, has in fact, cut product prices by 1% earlier this week, with other players following suit. The minor price revision, notwithstanding, paint makers are expected to see volume growth in mid-teens through the rest of the year, which is likely to keep earnings stable in FY24. Share prices, though, are unlikely to see a meaningful upsides.

'perpetual bonds' — complex securities that have sparked debates and court battles but without which many high-street banks would find it tough to raise capital in the coming years. Financial market authorities are examining a possible change in the way the securities are valued to stoke investor interest in the quasi-equity papers, better known as 'additional tier-1', or AT1 bonds, three persons familiar with the discussions told ET. The government, financial market regulators, banks (which issue such bonds), and asset managers (which invest in them) have discussed the matter in the weeks before the Diwali holiday. Banks and mutual funds chiefs have had meetings with the Securities & Exchange Board of India (Sebi) which formulates the valuation rules.

By Tetsushi Kajimoto and Kentaro Sugiyama

Coal requirement for power generation in the second half of this financial year has increased to 424 million tonnes compared with 404 million tonnes projected earlier amid higher demand, said people with knowledge of the matter. Additionally, 18 million tonnes will be required to maintain a desirable closing stock of 40 million tonnes by March-end, they said. Power generation from coal-based plants is now projected at 657 billion units for the second half of 2023-24 against 619 billion units expected earlier, said one of the persons, who did not wish to be identified. While the gross demand of coal for the period is 442 million tonnes, 24 million tonnes is expected to come through imports, said the person. For the movement of total coal to plants, 463 rakes per day are required, which include 20 for the imported ones.

Xabi Alonso has always done things at his own speed. As a player, it was his coolness, his control, his capacity to wait until precisely the right moment that made him one of the finest midfielders of his generation. As he contemplated the idea of becoming a coach, he saw no reason to change.

World Cup final, a single-day event. Comparatively, the two days prior to Diwali (which was on 12 November), a pan-India festival, saw just 413,953 and 394,289 passengers, respectively. This month, so far, the average daily air traffic is over 402,000 passengers, compared to 431,000 in November 2019.

₹7,300 crore collectively. But a more interesting bunch of at least nine new-age tech startups is polishing its offerings, preparing to tap the markets after next year’s general election. FirstCry, Oyo, Lenskart, Swiggy, PayU, MobiKwik, Infra.Market, OfBusiness and PhonePe are among the new-age tech startups looking to raise over $2 billion in 2024 (around ₹16,600 crore at the current exchange rate), bankers and company executives said.

Cybersecurity is among the top three important segments for companies in the Indian financial services industry but there is a gap in the industry needs and the availability of skills. Companies in general are looking for experienced professionals but this being a nascent segment, Indian universities have not been producing as many skilled professionals as the industry needs. «The Indian curriculum is more focused on AI, ML, and other data science courses but not cybersecurity,» said Abhik Chatterjee at Boston Consulting Group, which advises top banks in the country.

Coinbase, the prominent cryptocurrency exchange platform, has strategically augmented its Global Advisory Council with the induction of four esteemed national security experts on November 7, 2023. This move comes as part of Coinbase's ongoing efforts to navigate the intricate landscape of global crypto regulations and strategic industry decisions. The newly appointed members are Dr. Mark T. Esper, Stephanie Murphy, Frances Townsend, and David Urban, each bringing a wealth of experience and deep insights into national security, which is becoming increasingly intertwined with the crypto and blockchain sectors.

Drilling to prepare an escape passage for 41 workers — trapped at Silkyara tunnel collapse site for a week now — remained suspended on Sunday, while Union Minister Nitin Gadkari who reviewed the rescue operation said another large diameter pipeline was being pushed through the rubble to provide essential supplies to them. An American auger machine which was brought as a replacement had to be stopped on Friday afternoon after it hit some hard surface while drilling through the rubble in the collapsed part of the under-construction tunnel, following which officials on Saturday began preparations to drill a vertical hole from the top of the hill.

Thanksgiving 2023 travel season is likely to be affected by inclement weather. Weather forecasters have predicted that storms could severely impact flights and road trips ahead of the holiday period. Severe thunderstorms are forecasted to intensify in the Southern Plains during Sunday afternoon and evening, expanding eastward into the Southern United States by Monday's end and reaching the Southeast on Tuesday, as reported by weather experts to USA Today. AAA, which monitors holiday travel, anticipates that 55.4 million Americans will travel over 50 miles for Thanksgiving between November 22 and November 26. The majority, around 49.1 million, are expected to travel by road, according to AAA. Early travelers departing on Monday along the Eastern Seaboard and into the Great Lakes region may experience relatively lighter rain and thunderstorms, avoiding some of the heavier traffic and delays expected later in the week, noted weather experts. Ski resorts in the interior western states, such as Nevada, Utah, Idaho, and Wyoming, can expect favorable conditions with the potential for mountain snow on Thursday and Friday. The most impactful weather on Monday is predicted in the southern tier of the United States, affecting states like Texas, Arkansas, Louisiana, and Mississippi. Tuesday night and Wednesday morning could see critical weather conditions in major hubs across the mid-Atlantic and Northeast, with heavy rain anticipated from Washington, D.C., to Boston.

Adani group. An application has been filed by PIL petitioner Vishal Tiwari saying that despite the deadline given to the SEBI it has failed to comply with the direction of the court and has not submitted the final conclusion/report as was directed by the court.

Nitin Gadkari, who visited the Uttarkashi tunnel collapse site on Sunday morning, said he expects the rescuers will be able to reach the victims who are trapped inside it in another two to two-and-a-half days. «If the auger machine works properly, we will be able to reach them (victims) in the next 2 to 2.5 days,» Gadkari told the reporters from the tunnel site. Uttarakhand Chief Minister Pushkar Singh Dhami also accompanied the Union minister. Minister Gadkari apprised that those private tunnel experts working for various organisations in the region have also been roped in for the rescue efforts. Food, medicine, and oxygen were being provided to those trapped inside through pipes.

Stocks of IT companies, which earn a significant share of their revenue from the US, climbed 5.07%, their best week in 16 months. Here's how analysts read the market pulse: «Considering the sharp rise in the previous couple of trading sessions and the Nifty reaching crucial resistance levels, short-term consolidation is likely. On the downside, 19,630 – 19,600 is the crucial support zone to watch out for and in case of a dip this zone is crucial to hold on for the uptrend to continue,» said Jatin Gedia of Sharekhan. Rupak De, LKP Securities said, «Nifty has largely traded within a range, showing a predominantly bullish sentiment.