Gap Financial News

home prices in India are set to rise 7% this year and next, driven by purchases of luxury properties, according to analysts polled by Reuters who said the supply of affordable homes would continue to lag demand. Barely dented by the Reserve Bank of India's 2-1/2 percentage points of interest rate rises from May 2022 to February 2023, the housing market has powered along with Asia's No. 3 economy, the fastest growing amongst major peers. Home prices rose 4.3% in 2023, the fastest since 2018, according to Reuters calculations based on the RBI's House Price Index.

shares of Kotak Mahindra Bank could be in the offing as the price is near a technical support level, which has been breached only during the Global Financial Crisis of 2008, said analysts. But a tearaway rally looks unlikely with the stock seen grinding higher because of technical hurdles. Kotak shares are around a support level of its 50-day exponential moving average on a monthly time frame placed at ₹1,700-level, according to Tradonomy, an investment advisory. The stock could bounce from these levels, it said. «Fresh buying from smart money could come around these levels, taking it to 1,900-2,200 levels from here,» said Tadonomy's founder Dharan Shah.

Elon Musk is no longer the world’s richest person. Musk lost his position atop the Bloomberg Billionaires Index to Jeff Bezos after shares in Tesla Inc. tumbled 7.2% on Monday. Musk now has a net worth of $197.7 billion; Bezos’ fortune is $200.3 billion.

You have to wonder why Canadians are investing their money outside the country like never before.

By Andrea Shalal

unemployment rate declined to 3.1% in 2023 from 3.6% in the previous year, corresponding with the country recording stellar growth during the year. A significant reason for the decline in the unemployment rate was the decline in urban unemployment. Urban unemployment declined to 5.2% in 2023 compared with 5.9% in the previous year. Rural unemployment was down 40 bps to 2.4% from 2.8% earlier. Global rating agency Moody’s, Monday, raised India’s growth estimate for 2023 by a percentage point to 7.7% from 6.7% projected earlier. Growth is expected to ease to 6.8% in 2024 and 6.4% in 2025, it noted. India recorded over 8% growth during the April-December period.

Union Agriculture Minister Arjun Munda on Monday said the government has launched a mission to boost production of oilseeds and reduce imports of cooking oils. The minister virtually inaugurated administrative-cum-academic building, Manas Guest House, Subansiri Girls Hostel and Brahmaputra Boys Hostel at IARI, Dirpai Chapori, Gogamukh, Assam. Union Minister of State for Agriculture Kailash Choudhary was present at the inaugural event and visited an exhibition stall at the Indian Agricultural Research Institute (IARI), Assam. According to an official statement, Munda said Prime Minister Narendra Modi has special emphasis on the development of the Northeastern region.

Driven by a sustained momentum in AI, capitalization-weighted market indices continue to advance, with the tech-heavy Nasdaq-100 not experiencing a decline of -2.5% or more for 302 days.

A lot is happening this week with key data and earnings in the offing. Powell, the ECB, and Broadcom (NASDAQ:AVGO) earnings have the potential to be market movers.

Tata Elxsi Ltd. traded at Rs 7716.65 on BSE at 01:49PM (IST) on Monday, down 0.94 per cent from previous close. The scrip quoted a 52-week low price of Rs 5883.05 and a high of Rs 9191.1.

Ashok Leyland Ltd. fell 0.2 per cent to Rs 172.0 at 11:41AM hours (IST) on Monday. Earlier in the day, the stock saw a gap down start to the session. As per data available on BSE, total traded quantity on the counter stood at 217,950 shares with a turnover of Rs 3.75 crore till 11:41AM (IST). The stock traded at a price-to-earnings (P/E) multiple of 21.18, while the price-to-book value ratio stood at 4.78.

Bharat Forge Ltd. traded at Rs 1182.8 on BSE at 11:46AM (IST) on Monday, up 0.18 per cent. The stock quoted a 52-week low price of Rs 744.0 and a high of Rs 1330.0. Earlier in the day, the stock saw a gap up opening.

Moody's on Monday raised India's GDP growth estimate to 6.8 per cent from 6.1 per cent for 2024. India's economic growth in the three months through December was much higher than most estimates. This was attributed to a sharp fall in key subsidies which provided a boost to GDP, reported Reuters, citing two government officials. India's economy grew 8.4 per cent during the October-December quarter, its fastest pace in one-and-half years, and much faster than the 6.6 per cent estimated by economists polled by Reuters.

Mint looks deeper into the third quarter performance and the prospects for the next few quarters. After strong growth in the first two quarters of 2023-24 (8.2% in Q1 and 8.1% in Q2), it was expected that the economic expansion will moderate to 6.5% levels in the third quarter. This was because manufacturing, mining and electricity sectors were showing signs of weakness, and an uneven monsoon was hurting agricultural output.

All eyes are on Rebel Satoshi ($RBLZ) as it prepares for the biggest launch of the year. Meanwhile, NEAR Protocol (NEAR) and BNB have witnessed price pumps as the market approaches its next rally.Here, we explore the latest developments around $RBLZ, NEAR, and BNB to find out which is the best crypto to invest in!

Up to now, the Russell 2000 IWM had been doing most of the running, marked by the relative performance gains of this index against the S&P 500 and Nasdaq, but yesterday was the first stall in this rally.

Prime Minister Narendra Modi, who is in Krishnagar, West Bengal, to launch multiple and lay foundation stone for multiple projects, said despite being the doorways to the east, “Bengal remained left behind" "...From the infrastructure point of view, railways is a part of the glorious history of West Bengal, but the historical progress that Bengal had achieved could not be utilized properly after independence. That is why despite all the possibilities, Bengal remained left behind." “In the last 10 years, we have laid a lot of emphasis on the rail infrastructure here to bridge that gap, today our government is spending more than twice as much as before for the rail infrastructure of Bengal..." PM Modi on Saturday inaugurated and laid the foundation stone of multiple development projects worth ₹15,000 crore in Krishnanagar city in West Bengal's Nadia District on Saturday.

While an overwhelming number of women are living with financial anxiety, many are taking active steps to improve their situation and boost their financial confidence, according to new research from Fidelity.

Employers are facing high turnover rates lingering from the pandemic’s Great Resignation, and they’re struggling to give workers what they want: higher compensation and more benefits like 401(k) contributions.

Vodafone Idea's plans to raise an additional Rs 25,000 crore via the debt route won't cause any financial stress as the telco has sharply cut bank exposure — by almost Rs 35,000 crore — in the past two-and-a-half years and improved operational performance, top company sources told ET. The telecom JV of UK's Vodafone Group and India's Aditya Birla Group (ABG), in fact, is counting on the targeted funding primarily to plug its 4G coverage gaps and rein in customer losses to be able to compete more effectively with bigger rivals, Reliance Jio and Bharti Airtel in its priority markets. The Rs 25,000 crore planned debt funding is in addition to the Rs 20,000 crore that Vi plans to raise via equity and/or equity-linked instruments by the June quarter of FY25.

Gold Loan meant for aspirational customers. The private lender — in a statement — said the loan offers five key features and would turn out to be a compelling alternative to conventional credit options. These key features are: 1) fixed monthly interest rate as low as 0.88 percent, i.e., 10.56 percent per annum 2) zero processing fee, 3) same day disbursement, 4) flexible repayment options and 5) minimal documentation.