Gap 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.

SHANGHAI/SINGAPORE (Reuters) — China left benchmark lending rates unchanged at a monthly fixing on Monday, matching expectations, as a weaker yuan continued to limit further monetary easing and policymakers waited to see the effects of previous stimulus on credit demand.

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.

NEW DELHI : The Centre is exploring options such as increasing the deposit acceptance limit for eligible non-banking finance companies (NBFCs), introducing deposit insurance and creating a specific liquidity window for NBFCs, according to two officials. The goal is to lower funding costs, enabling NBFCs to offer loans to crucial sectors such as agriculture and micro, small, and medium enterprises, at more affordable interest rates, they added. Besides agriculture, MSMEs are a cornerstone of the Indian economy, contributing 30% to gross domestic product, 45% to manufacturing output, and 48% to exports.

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.

UCO Bank received a pleasant surprise earlier this month when a technical glitch resulted in the bank erroneously transferring a total of Rs 820 crore through the mobile-based Immediate Payment Service (IMPS) system to their accounts. The bank managed to recover most of the money, but it has raised serious concerns about account safety and what can customers do in case of such fraudulent or erroneous debits or credits. Which are the electronic transactions vulnerable to fraud? The Reserve Bank of India classifies electronic transactions into two broad categories: online transactions (internet banking, mobile banking and prepaid) and face-to-face transactions (needing a physical payment instrument such as a card or mobile phone at an ATM or a point-of-sale terminal).

It was inevitable that markets were going to slow down after the recent surge during the week. The biggest reversal came from the Russell 2000 (IWM) which posted a classic inverse reversal hammer, intersecting the 200-day MA, followed by a down-day today to complete a «bearish evening star».

Dabur India CEO Mohit Malhotra in an interview with news agency PTI. Dabur recorded a significant increase in its domestic sales from South India, now accounting for 20% of its total sales, and has witnessed a doubling of its business in the region over the past 5-6 years. In response to this growth, the company is actively identifying market-specific gaps and needs, aiming to introduce customized products tailored to the preferences of these markets.

FMCG and ayurvedic products maker Dabur is planning to set up a new factory in South India in less than a year's time, as its business scales in the region, according to company's CEO Mohit Malhotra. Dabur, which now gets 20 per cent of its domestic sales from South India with its business there doubling in the last 5-6 years, is identifying gaps and usages to launch products customised to the markets, he told PTI in an interview.

Singapore startups less than gung-ho about adding to the city’s 18,000-strong fintech workforce. However, it may not be a bad time to look for jobs in the Asian financial center. Rivals like Hong Kong and Abu Dhabi are hungry for qualified professionals.

Tata Technologies IPO vs IREDA IPO vs Gandhar Oil Refinery IPO: Five mainboard initial public offerings (IPOs) — Tata Technologies IPO, Indian Renewable Energy Development Agency or IREDA IPO, Gandhar Oil Refinery IPO, Flair Writing Industries IPO and Fedbank Financial Services IPO are going to hit Indian primary market next week. These five upcoming IPOs worth ₹7,378 crore would definitely put confusion among investors as to which IPO they should apply as most of these public offers are expected to deliver good listing gain.

commonly used drugs are spanning the country and aren’t expected to resolve until at least the new year, causing both pharmacists and patients to search for alternative solutions.The persistent shortage of Lenoltec No. 4, the generic version of Tylenol 4 (also known as T4s), along with Ozempic, a widely-used drug for Type 2 diabetes, has lasted for several months.

Wall Street edged higher in quiet trading, closing out a third straight winning week and keeping November on track to be its best month in a year

Investing.com — U.S. are wobbling on Friday but were still on track for a weekly gain. Cautious words from retailers about the holiday sales season and hopes that the Federal Reserve is nearing the end of its interest rate increases are on the minds of investors.

Investing.com -- U.S. stock futures point into the green following a mixed session on Wall Street, as traders pour through a raft of economic figures this week. Gap's (NYSE:GPS) quarterly profit tops estimates, sending shares soaring premarket, but the retailer joins peers Target (NYSE:TGT) and Walmart (NYSE:WMT) in flagging some caution over consumer spending heading into the holiday shopping season. Elsewhere, Chinese tech shares plummet after Alibaba (NYSE:BABA) scraps a planned spin-off of its cloud intelligence unit.

Investing.com — U.S. stocks were falling early Friday after earnings reports from major retailers beat expectations but set a cautious tone heading into holiday sales season.

If current gains hold, shares will have nearly doubled since late July after the former Mattel executive was appointed to revive the once sought-after brand. Gap's third-quarter earnings release Thursday showed significant inventory destocking, even as its holiday-season forecast disappointed. Dickson worked at Mattel for two decades and was responsible for reviving the Barbie brand, which re-entered the cultural zeitgeist in 2023 following the success of the «Barbie» movie. Investors are pinning their hopes on Dickson's efforts to bring in trendier clothing at Gap's Old Navy brand, with Morningstar analyst David Swartz saying the earnings showed «something good happening for the first time in a long time maybe.» «Gap has been in bad shape for so long that anybody who brings some sort of positive outlook to the company would be good at this point,» Swartz said. Old Navy's comparable sales rose 1% in the third quarter, their first increase in 10 quarters, after the brand languished last year due to out-of-sync inventory. «Old Navy gained market share, an encouraging early proof point that work to improve both product assortment and brand messaging» were driving results, Gap Chief Financial Officer Katrina O'Connell said. The company, like major retailers Walmart and Target, noted inventory levels have declined from last year's peak, which had been a significant overhang for several quarters. However, Gap joined other retailers in sounding a cautious note on spending, heading into the all-important shopping season. Executives also alluded to a «longer recovery» time for its other brands Banana Republic and Athleta which have seen «product misfires» and weak «retail execution».

coal ministry aims a 14% reduction in rail logistics cost through railway network optimization for coal logistics, the government said Friday, a day after the 60th meeting of the Network Planning Group (NPG). “The meeting focused on discussions on Sectoral Plan for efficient Logistics (SPEL)by individual line ministries/departments,” the commerce and industry ministry said in a statement. This initiative, among the various initiatives proposed under the Comprehensive Logistics Action Plan (CLAP) of National Logistics Policy (NLP), was proposed to ensure that a focused approach is taken in addressing logistics-related requirements at the individual sector level. The ministries of steel and coal presented their plans to address logistics issues pertaining to infrastructure, processes, digital improvements, policies and regulatory reforms, and capacity building for a better workforce. Steel ministry outlined their SPEL approach, encompassing in-depth supply and demand analysis for iron ore and steel, forecasted requirements up to 2030-31 and beyond, and strategic planning for future readiness in logistics.

₹700 billion, from ₹1.3 trillion in June 2022, when LPS was launched. “We expect receivable days for Fitch-rated gencos to further shorten in the near term, although at a slower rate than the sharp improvement in FY23," it said.

Tata Investment Corporation rallied over 20% on Friday's trading session, touched to ₹3,909.90 per piece ahead of upcoming initial public offering (IPO) of Tata Technologies. Tata Investment shares opened ₹ 3,270 per share in the early morning trading on Friday, against previous close at ₹ 3,257 . Tata Technologies, which is all set to go public on November 22, is a subsidiary of Tata Motors in which Tata Investment is a promoter group entity.

SHANGHAI/BEIJING (Reuters) — China's central bank asked some lenders to cap interest rates on an interbank debt instrument this month, people with knowledge of the matter said on Friday, referring to the rising short-term yields on bank debt and strains in funding markets.