Lowe's Financial News

«The sharp increase in US payroll data led to expectations of a prolonged high-interest rate environment, resulting in a spike in US yields and increased volatility in global equities. Market participants are awaiting key data points such as domestic and US inflation numbers for further insights into the sustainability of the market trend. Given the elevated market valuation, the profit booking is visible at the upper band of the rally,” he added.

Amidst the heightened global uncertainty, the Indian economy has proved to be more resilient than many large economies of the world, a report from CII has showed. A conducive domestic policy environment, along with healthy performance of its key macroeconomic indicators have sustained the growth momentum of the economy, the report said. The CII Business Confidence Index (CII- BCI) improved to a reading of 66.1 in Q1 (Apr-Jun FY24) as compared to 64.0 in the previous quarter showing a positive momentum in indicators such as GST collection and air & rail passenger traffic. 63 per cent of over 180 firms surveyed in the Business Outlook Survey (63 per cent) expect India's GDP growth to be 6-7 per cent for FY24, similar to RBI’s growth forecast of 6.5 per cent for this fiscal year. 86 per cent of the respondents expect inflation to fall below 6 per cent in FY24 in line with RBI’s projection of 5.1 per cent of inflation in FY24.

India becoming a signatory to the Artemis Accords and the focus on the space sector, particularly on addressing issues related to export control and technology transfer, during Prime Minister Narendra Modi's recent visit to the US will open up doors for private players, industry leaders believe. Since India opened up its space sector in 2020, more than 150 start-ups have come up in areas such as building rockets and satellites, setting up astronaut training facilities and exploring possibilities for space tourism.

Union Mutual Fund is on a growth path now and is looking at adding at least 50 per cent more to the AUM this fiscal, sniffing at Rs 15,000 crore by March. Despite having 22 funds (21 open-ended and one close-ended funds), the fund house sponsored by Union Bank of India and Japanese major Daiichi Life could not reach anywhere in the 43-player scattered industry that controls more than Rs 43 lakh crore of public money in its over 11 years of operations. In the year to March 2023, it had an AUM of just more than Rs 9 crore across 4.96 lakh live folios from 21 cities. Daiichi picked a 39.64 per cent stake in the MF in May 2018. But in terms of its presence in small towns, Union MF does reasonably well with 32 per cent of the AUM coming in from the B30 (beyond top 30) cities and the rest from the T30 (top 30) cities. «As of June our AUM stood at Rs 10,700 crore, up from Rs 9,853 crore in March 2023. We hope to take the AUM to around Rs 15,000 crore by next March as we plan to launch a large thematic fund next month from which we hope to collect at least Rs 500 crore during the NFO period. Of course, a lot will depend on the market,» chief executive G Pradeepkumar told PTI.

gold fell to a four-month low, correcting more than seven percent from May, when it reached close to its all-time high. A steady US dollar and expectations of more rate hikes from the US Federal Reserve weighed on the prices of the yellow metal. A similar selloff was witnessed in domestic gold also.

Airtel Payments Bank is experiencing «strong tailwinds of demand», and will grow its banking points and deepen product offering range this year, as it looks to raise customer count and average realisation per user, according to CEO Anubrata Biswas. Airtel Payments Bank will also launch its physical debit card for rural banking consumers in September quarter (Q2FY24), having launched it already in urban markets.

climate change also impacted the production of mangoes in many parts of the country. Mango production in Konkan region also received a slump due to climate changes and pest attacks. Unseasonal rains and unexpected rise in temperatures have adversaly impacted the production of Alphonso mangoes in Maharashtra.

Sectorally, buying was seen in auto and consumer durable stocks, while selling was visible in utilities, power, FMCG, and realty stocks. Stocks that were in focus include names like Titan Company, which was up more than 1%, Kalyan Jewellers, which rose more than 5% and Sunteck Realty, which closed with gains of nearly 12% on Friday. We have collated a list of three stocks that either hit a fresh 52-week high or saw a volume or a price breakout.

Bharat Heavy Electricals Ltd (BHEL), Delta Corp, Granuls India, and India Cements are the four stocks that are a part of the F&O ban list by the stock exchange for Monday. The NSE updates the list of securities in F&O ban for trade everyday. The derivative contracts in the mentioned securities have crossed 95 per cent of the market-wide position limit and have been currently put in the ban period by the stock exchange, said NSE.

What does the gaming application Winzo, devotional app Sri Mandir, audio series platform PocketFM and micro-investing app Deciml have in common?They are all fuelled by micropayments, or small-ticket transactions that can be as low as Rs 10.

Call it the yin and yang of natural gas.

cost-conscious market. The share of the Rs 7.5-25 lakh price segment is currently the largest at 67%. Within this, the Rs 7.5-12.5 lakh price band, at 42%, is the biggest, according to Jato Dynamics data.

Railway Ministry. People took to social media to explain how Vande Bharat fares were much higher than in comparison to normal trains. One user wrote," 300km ka 3rd ac ka fare 500 rupee hai, aur wahi vande bharat me 1000 ho jata hai, Aap hi sochiye ek new express AC train bhi chalu kare to kitne jyada logo ko suvidha nil sakti hai," meaning that for covering a distance of 300kms in AC 3 tier , one needs to shell out ₹500 whereas in Vande Bharat the fare is ₹1,000.

The biggest crypto gainer today on Uniswap is Elon Musk (MUSK), but has some red flags - according to DEXTools the new meme token has a blacklist function in its smart contracts.

It can be challenging to handle multiple home loans when interest rates are high and you have no additional income to manage higher interest rates. There can be several other challenges of having multiple home loans, but if you can club them into one, then it can allow you some breathing space.

Haryana government’s affordable housing policy where the state government allots apartments constructed by developer at a fixed rate, is likely to gain traction again as the cabinet increased the allotment rates by 20%. Due to the substantial increase in the cost of raw material, developers have been demanding that the state government amend the rate as projects were becoming unviable. “The higher rates would encourage developers to undertake more affordable housing projects, increasing the supply of affordable homes.

₹21,944 crore, hinting that these inflows are likely to surpass investments made in June and May this year. FPIs are likely on the path of recording the fifth monthly buying in the Indian market in a row. This foreign funds inflow is driven by a strong rally in Indian markets with Sensex and Nifty 50 hitting new lifetime highs this week.

Mukul Agrawal has raised his stake in Capacit'e Infraprojects from 1.91% or 13 lakh shares to 4.33% or 29.38 lakh shares as on the quarter ended June 30, according to the BSE shareholding data. He has raised his stake by 2.4% over the March quarter, the data on shareholding pattern suggested. The value of his stake now stands at Rs 64.2 crore according to Trendlyne.

premium trains. An official statement said this scheme shall be applicable in Air Conditioned (AC) Chair Car and Executive classes of all trains having AC sitting accommodation including Anubhuti and Vistadome coaches. “The element of discount shall be up to maximum 25% on the basic fare.

Nifty scaled new all-time peaks, foreign institutional investors or FIIs invested about $2.7 billion on Indian stocks in just 5 trading days of this week. The fresh round of inflow comes in even as 93% of Wall Street traders are presuming that the US Fed will hike interest rates by 25 basis points during the FOMC meeting on July 25-26. If this trend continues, monthly FII flows in July will exceed the figures in May and June, which were $5.3 billion and $5.7 billion, respectively.

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