Experts Financial News

The author is Rupak De, Senior Technical analyst at LKP Securities Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions."Exciting news! Mint is now on WhatsApp Channels

Yudh Abhyas" is set to begin in the United States of America, an official statement said on Sunday. It will be conducted from September 25 to October 8 2023 in Fort Wainwright, Alaska, USA, the official statement added. It is an annual exercise conducted jointly by the Indian Army and the United States Army. In 2022, the 'Yudh Abhyas' was carried out in Uttarakhand's Auli. «Indian Army contingent comprising of 350 personnel will participate in this edition of the Exercise. The lead battalion from Indian side is affiliated to Maratha Light Infantry Regiment.

Securities and Exchange Board of India (Sebi) has informed that the deadline to file a nominee or opt out of it for all individual demat account holders and mutual fund investors ends on 30 September. Sebi has said that failing to comply within deadline will result in frozen accounts and folios. The move by Sebi aims to help investors secure their assets and pass them onto their legal heirs.

Quincy Krosby, Financial Chief Global strategist, discusses consumer spending, the labor market and inflation data.

Supreme Court judge Justice Sanjeev Khanna on Sunday stressed the need for using simple language in the legal profession to enable the citizens to take informed decisions and avoid unintentional violations. Justice Khanna, speaking at the valedictory session of International Lawyers' Conference organised by apex Bar body Bar Council of India, said laws were meant to resolve disputes, not become disputed themselves. He said the question of simplicity of law, i.e., use of language that is understood by common man, required greater attention. «Is law required to be demystified? Should law be a puzzle that needs to be solved? Laws are meant to resolve disputes, not become disputed themselves.

Ramsey Solutions financial expert George Kamel on how to take charge of your retirement. 

ALSO READ: India's forex reserves near 4-month low; declines $867 million to $593.037 billion: RBI Data "We do expect the RBI to hold on to a status quo position this time as inflation is still high and liquidity tight. Going by RBI forecast on inflation, it would be above 5 percent in Q3 too, which will ensure that the status quo prevails for the calendar year for sure and probably Q4 too," said Madan Sabnavis, Chief Economist, Bank of Baroda.

Reserve Bank is likely to maintain status quo on policy rates for the fourth time in a row at its bi-monthly monetary policy review meeting early next month, as retail inflation continues to remain high and the US Federal Reserve has decided to keep a hawkish stance for some more time, according to experts. The Reserve Bank had raised the benchmark repo rate to 6.5 per cent on February 8, 2023 and since then it has retained the rates at the same level in view of the stubbornly high retail inflation and certain global factors including elevated crude oil prices in the international market. The Reserve Bank Governor-headed six-member Monetary Policy Committee (MPC) meeting is scheduled for October 4-6, 2023. The last meeting of the MPC, the highest rating-setting panel, was in August. «We do expect the RBI to hold on to a status quo position this time as inflation is still high and liquidity tight.

Sectorally, buying was seen in the public sector, telecom, auto, and capital goods, while selling was seen in healthcare, consumer durables, and realty stocks. Stocks that were in focus include names like Gujarat Ambuja, which rose 6%, Berger Paints closed with gains of more than 6% to hit a fresh 52-week high and Indian Bank, which closed with gains of about 4% to hit a fresh record high on Friday. We have collated a list of three stocks that either hit a fresh 52-week high, or all-time high or saw a volume or a price breakout. We spoke to an analyst on how one should look at these stocks the next trading day entirely from an educational point of view:Analyst: Sunil Gurjar, Founder Chartmojo, Author, CFTe, CMT Level 3Gujarat AmbujaThe stock has been forming a trend reversal pattern and looking good for an up move. The counter pattern breakout has happened with a good volume spurt which indicates big players are also making positions in the stock. The pattern breakout candle will act as a support zone on the way down, and on the way up one can see an upmove to 405 levels.Indian BankThe counter has been forming an uptrend continuation pattern and looks poised for an upside. The uptrend is also looking very strong and the same is also supported by great volume buildup.

corporate actions scheduled for this week. Bajaj Holdings & Investment, Brightcom Group, West Leisure Resorts, and Maharashtra Scooters will trade ex-dividend, while Hindustan Aeronautics and Shradha Industries will trade ex-split this week. The ex-dividend date is when the price of the equity shares of a company gets adjusted for the dividend payout.

This saw the benchmark Sensex and Nifty50 drop close to 3% each and snap a three-week winning streak. The week ahead is unlikely to bring major fireworks, and market experts see high volatility amid the expiry of the September derivative series. Global markets, which also played a role in the downward trend of local shares, will continue to be closely tracked by investors for cues. Further, foreign institutional investors were big sellers in the domestic market last week. So, their trading strategy will be closely tracked to gauge market direction.Global Markets Benchmark indices in the US registered 2-4% weekly losses, which has turned the global sentiment sour. “The global markets are facing challenges, particularly after the ultra-hawkish FOMC policy.

Prabhjeet Singh, president of Uber India and South Asia, will be swapping his comfortable corner office for the driver’s seat — quite literally. Singh will be driving customers around, a move he says will offer valuable insights into their points of view.

In the dynamic realm of cryptocurrencies, where volatility is king and fortunes can shift in an instant, finding the best crypto investment is a pursuit that can yield substantial rewards. 

India-Middle East-Europe Economic Corridor (IMEC) was launched with the promise of galvanising connectivity and trade through India, the Arabian Gulf and Europe, with an underlying goal of shifting geopolitics in the region, by countering China’s Belt and Road Initiative (BRI). The precise route map of the corridor will be figured out when the stakeholders meet in the next two months. But a Memorandum of Understanding (MoU) unveiled on the sidelines of the G20 leaders’ meeting shed light on its broader contours — a transit through India, the United Arab Emirates (UAE), Saudi Arabia, Jordan, Israel, and Europe.

Larry Summers said on Saturday. Summers co-chairs the Independent Expert Group on strengthening MDB reforms. He said a combination of factors, including promoting free market forces, addressing infrastructure needs- particularly in energy -and undertaking reforms in key states, could catapult India into the high-growth trajectory.

Hindustan Times. Since 2021, after real estate giant China Evergrande group defaulted on its debt obligations, the property sector has slumped in China. Even big firm like Country Garden Holdings continue to fall close to default.

Nirmala Sitharaman on Saturday met the G20 Independent Expert Group on strengthening of Multilateral Development Banks (MDBs). The G20 Independent Expert Group (IEG) is co-convened by former American treasury secretary Lawrence Summers and ex-chairman of the 15th Finance Commission N K Singh. The IEG set up by G20 India Presidency has focused on strengthening MDBs and delivered Volume 1 of its report which was acknowledged by G20 leaders in New Delhi Leaders Declaration earlier this month. «The #G20IEG members are currently in India working on Volume 2 of their report to be discussed in #G20 meetings scheduled to be held under the Indian Presidency in #Marrakech on sidelines of @IMFNews @WorldBank #AnnualMeetings,» the finance ministry said in a post on X. The fourth and final Finance Ministers and Central Bank Governors (FMCBG) Meeting under India's G20 Presidency is taking place next month in Morocco. MDBs need to provide an additional USD 260 billion annually to fund sustainable infrastructure and help nations achieve SDG targets, the group said in its Vol 1 report. Additional spending of some USD 3 trillion per year is needed by 2030, of which USD 1.8 trillion represents additional investments in climate action, mostly in sustainable infrastructure, and USD 1.2 trillion in additional spending to attain other sustainable development goals (SDGs), it said. The major MDBs are World Bank, International Finance Corporation (IFC), Asian Development Bank, Asian Infrastructure Investment Bank (AIIB), Inter-American Development Bank (IDB) and African Development Bank (AfDB).

Khalistan terrorist Hardeep Singh Nijjar in June at a Sikh holy shrine in British Columbia's Surrey, in June this year. While Canada's Prime Minister Justin Trudeau has remained unfazed about his ‘credible allegations’ made against India, accusing the latter of being involved in the June killing of the Khalistan terrorist, India has over and again refuted and binned such claims.

death of actor Mark Blanco, who plunged to his demise from a London balcony during a heated dispute with Pete Doherty, the frontman of the Libertines. An FBI expert now asserts that Blanco was likely not a victim of a mere accident but rather might have been «thrown.»

Indian Army contingent, comprising 32 soldiers representing the 14 Rajputana Rifles, departed for Russia to participate in the ASEAN Defence Ministers Meeting Plus Expert Working Group on Counter Terrorism, the Ministry of Defence said in a statement. The Counter Terrorism Field Training Exercise (FTX) 2023 will be conducted from September 25-30. «Indian Army Contingent consisting of 32 personnel from a Battalion affiliated to the RAJPUTANA RIFLES departed for ASEAN Defence Ministers Meeting (ADMM) Plus Expert Working Group (EWG) on Counter Terrorism Field Training Exercise (FTX) 2023 scheduled to be conducted from 25th to 30th September 2023 in Russia,» the Ministry of Defence stated in a press release. A multinational joint military exercise being hosted by Russia as a co-chair of the EWG along with Myanmar, the meeting was preceded by the Table Top Exercise of the ADMM Plus EWG on Counter-Terrorism at Nay Pyi Taw, Myanmar from August 2-4. Since 2017, the ADMM Plus meets annually to allow dialogue and cooperation among the Association of Southeast Asian Nations (ASEAN) and Plus countries. The inaugural ADMM Plus was convened in Ha Noi, Vietnam on October 12, 2010. This year ASEAN member states, along with the Plus Group, will be participating in the exercise, the Ministry stated. The exercise will comprise a number of counter-terrorism drills, including the destruction of terrorist groups in a fortified area.