Extreme Financial News

Delhi Winter: Cold is expected to persist in Delhi for the next three days as the city recently witnessed its coldest day conditions in two years. A layer of lifted fog throughout the day, coupled with frosty northerly winds, contributed to the chill, with the maximum temperature at Safdarjung plummeting to 12.5 degrees Celsius, marking a 'severe cold day' as per the Indian Meteorological Department.

CNBC-TV18, Infosys founder N.R. Narayana Murthy reaffirmed his advocacy for a 70-hour work week, defending his stance amidst considerable public debate.

New banking rules proposed last year by US regulators were “extremely aggressive” and are likely to be “materially wound back” before being put in place, Morgan Stanley Chairman James Gorman said.

Traders are looking to import maize from Myanmar after the government last month put curbs on use of sugarcane for ethanol production and said it would switch to maize to meet its fuel blending target. «The country will have to rely on imports if it wants to achieve its blending target, as there is not enough maize in the domestic market,» said a trader who is in talks with Myanmar for its import. If India starts using maize for ethanol production, the requirement will be extremely high and will push prices up in the domestic market.

Stocks fell for a second day, with the S&P 500 dropping by around 80 bps. The index gapped lower, unwinding the big buy imbalance at yesterday’s close.

New banking rules proposed last year by US regulators were “extremely aggressive” and are likely to be “materially wound back” before being put in place, Morgan Stanley Chairman James Gorman said.

Sanjiv Bhasin, Director, IIFL Securities, says “I am amazed at the strength in midcaps. Yesterday, the midcap index was up. So, we are not complaining. All we are saying is that there will be a sectoral churn. Now it is time for banks to come back and if you are looking for an opportunity, then use the next few days’ weakness in metals as a proxy to the dollar to buy.” It is time to definitely tread with caution. I want you to drill the point home that there is no harm in the market consolidating at this juncture, it is only but healthy. Sanjiv Bhasin: Yes, the market consolidation is there and we had run up maybe irrationally and that has seen a little bit of a climax. We have corrected about 400-500 points on the Nifty, which is healthy for the market. I would expect this to end today. There is an up move of about 200-300 points which can come today or tomorrow.

Defence stocks were among the top performing stocks of 2023. Investors and traders alike were extremely bullish on them for the short term and long term. This sentiment hasn’t changed but it wouldn’t be wise to expect the same kind of market-beating performance from defence stocks every year.

snowstorms disrupting transportation and closing schools in Scandinavia while strong winds and heavy rain in western Europe caused flooding and at least one death. Temperatures fell below minus 40 degrees Celsius (minus 40 degrees Fahrenheit) in the Nordic region for a second day in a row Wednesday. In Kvikkjokk-Arrenjarka in Swedish Lapland, the mercury dropped to minus 43.6 C (minus 46.5 F), the lowest January temperature recorded in Sweden in 25 years, Sweden's TT news agency reported.

BNY Mellon Wealth Management head of equities Alicia Levine and Simplify Asset Management chief strategist Mike Green discuss whether the Fed's inflation strategy is working on 'Making Money.'

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The NSE Nifty 50 index fell 0.69% to 21,517, while the S&P BSE Sensex shed 0.75% to 71,356. Here's how analysts read the market pulse: «Nifty formed a bearish candle with a substantial body in the daily chart. The Donchian Channels, which identify bullish and bearish extremes, indicate that Nifty is holding its middle band. Key support levels are identified at 21,400, while resistance is placed at 21,700 levels,» said Om Mehra, Technical Analyst, SAMCO Securities. Rupak De, Senior Technical Analyst at LKP Securities, said, «Nifty dipped below the support level of 21,650, resulting in a decline towards 21,500. The prevailing sentiment appears weak, highlighted by the index closing below the crucial support at 21,650. If it continues to drop below 21,500 in the upcoming days, it could potentially exacerbate the negative sentiment, especially with expectations of substantial unwinding by the put writers below 21,500. The broader market outlook suggests a sell-on-rise strategy as long as it stays below 21,650.» That said, here’s a look at what some key indicators are suggesting for Thursday's action:

ArcelorMittal has partnered with the Indian Institute of Technology, Madras to build «Asia's first» Hyperloop test track facility here, the company said here on Wednesday. The companies, ArcelorMittal and ArcelorMittal Nippon Steel India (AM/NS), are providing foundational steel materials as well as engineering, design, and project management expertise to support the construction of Asia's first Hyperloop test track at the 163-acre Discovery campus of IIT Madras, located at Thaiyur on the outskirts of Chennai, a company release here said.

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The ‘Tax Saving Season’ is back upon us. It is that time of the year when the HR department asks for proof of investments and employees start focussing on optimizing their tax liabilities and taking advantage of various avenues to save on income tax.

Melissa Hoskins, an Australian Olympic track cyclist and former world champion, died after she was hit by a vehicle while out for a ride over the weekend, and now her husband has reportedly been charged in her death.

Donald Trump on Tuesday appealed a ruling by Maine's secretary of state barring him from the state's primary ballot over his role in the Jan. 6, 2021, attack on the U.S. Capitol. Trump, the early front-runner for the 2024 Republican presidential nomination, appealed the Maine decision by Democrat Shenna Bellows, who became the first secretary of state in history to bar someone from running for the presidency under the rarely used Section 3 of the 14th Amendment. That provision prohibits those who «engaged in insurrection» from holding office.

A strong pick-up in private investment is yet to materialise, and the desirable overall investment rate of 35% is still “some distance away”, says TT Ram Mohan, member, Prime Minister’s Economic Advisory Council. In an interview with Priyansh Verma, Mohan says that India’s economy in FY25 will grow at a slower rate than the projected 7% in the current fiscal. “It may be appealing to talk of taking our growth rate to 8% but such talk will not take us anywhere,” he notes. On RBI’s monetary policy, Mohan says that India is not in a position to sacrifice growth in order to reach the 4% inflation target in the short-term.

Last year, India witnessed a series of extreme weather events, the last one being in Tamil Nadu in December. Chennai and some other districts saw intense flooding after Cyclone Michaung hit on December 4.

streaming platforms and VOD in the first week of 2024. This includes a captivating thriller that features Anne Hathaway, the ‘Society of the Snow’ by J.A. Bayona, and the debut of Dan Levy as a director.

has to have that particular data," the Supreme Court was quoted by Bar and Bench as saying. Advocate Shyam Divan, appearing for the Bihar government, said the data, including the break-up, has been put in the public domain and anyone can see it on the designated website.