Nov Financial News

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rupee fell to its lifetime closing low on Thursday and was the worst performer among key Asian peers in November which have rallied amid a slump in US yields and the greenback. Likely intervention from the Reserve Bank of India limited further downside for the local unit on Thursday, five traders said. The rupee ended at 83.3950 against the US dollar, lower by 0.08%, compared with its previous close at 83.3250. The local unit posted a slight monthly loss of 0.1%. The central bank «mildly» sold dollars, while a large foreign bank was seen on the buying side, likely on behalf of custodial clients, a foreign exchange trader at a private bank said. The dollar index was last quoted higher at 103.14 but appears on course to register a monthly decline of more than 3%, its sharpest monthly fall in a year. Most Asian currencies jumped on the back of lower U.S.

El Nino weather event may adversely impact rainfall during the winter season 2023 thereby affecting the key rabi crop such as wheat, according to S&P Global Commodity Insights. The National Oceanic and Atmospheric Administration's (NOOA) climate prediction center has said that there are chances of “Super El Nino” which may cause winter to be drier affecting the wheat crop, said Elvis Kurian John, associate pricing editor, agriculture, S&P Global Commodity Insights. India has a wheat output target of 114 million tonnes in 2023-24 against 110.5 million tonnes of the previous fiscal. However, as of Nov 17, the country’s wheat sowing was at 8.6 million hectares down from 9.1 million hectares in the corresponding period last year. India had banned wheat exports in May 2022, due to a decline in output amid adverse climatic conditions in early 2022.

The Bitcoin network’s replace-by-fee (RBF) policy enables users to replace pending (unconfirmed) transactions with new ones with higher transaction costs. 

₹8,960 apiece, registering a 2.60% gain in today's trading session. This came after the company, in an exchange filing on Wednesday, said it had acquired 0.54 mtpa cement grinding assets of Burnpur Cement Limited, located at Patratu in Jharkhand, at a consideration of ₹169.79 crore.

Kapil Sharma took IndiGo airline to task on November 29 over flight delay, putting up a series of posts on X (formerly Twitter). In this posts, Sharma chastised the airline for «making passengers wait inside the ferry bus and not informing them about the reason for the delay» at Chennai airport. Sharma wrote, «Dear @IndiGo6E first you made us wait in the bus for 50 minz, and now your team is saying pilot is stuck in traffic, what? Really? we supposed to take off by 8 pm n it's 9:20, still there is no pilot in cockpit, do you think these 180 passengers will fly in indigo again?.» In another post, he wrote that airline had deboarded all the passengers saying they would be accommodated in another plane, but only after another security check at the terminal. «Now they r de boarding all the passengers n saying we will send you in another aircraft but again we have to go back to terminal for security check,» he wrote on his X timeline. He also put up a video where passengers could be seen deboarding. «People r suffering bcoz of you @IndiGo6E lying lying n lying, there r some old passengers on wheel chairs, not in a very good health condition. Shame on you,» he wrote. Indigo later issued a statement saying that the delay involving the Chennai-Mumbai flight was due to «operational reasons». «Flight 6E 5149 from Chennai to Mumbai on Nov 29 was delayed due to operational reasons.

Investing.com-- Japan’s Nikkei 225 and South Korea’s KOSPI were the best performers in Asia in November as the prospect of a less hawkish Federal Reserve boosted risk assets across the region. 

₹331 trillion between 1 January, 2023 and 25 Nov, 2023 – that’s about 115% higher than in 2022. Leverage in derivatives is high and turnover is reported in nominal contract value so this looks more impressive than it is, but it is a very high volume anyhow. Around 4 million individual investors participated in the F&O segment.

Stay tuned to this LIVE MINT live blog for all the latest updates on exit poll results 2023:A survey agency tries to gauge the likely result of an election through an exit poll. Voters are asked, after they exit the polling station who they voted for, hence this is called an ‘exit poll’.Last month, the Election Commission of India (ECI), while announcing the poll schedule for five states (Chhattisgarh, Madhya Pradesh, Mizoram, Rajasthan, Telangana), banned exit polls between 7 am on November 7 and 6:30 pm on November 30.Harsh Goenka, the chairperson of the RPG Group, took to social media to share the poll predictions as per the "betting market (satta bazaar)". Here's what it showed.Mizoram Assembly Election 2023: The Mizoram Election 2023 saw 78.38 per cent voter turnout as of 11 pm on November 7 when the 40 assembly seats had polled.

Cost of Living LIVE Updates November 30: The cost of living is basically the amount of money one needs to survive in a given place – and one's most essential needs such as food, water, housing, taxes, cost of commute, healthcare, etc. The high rate of inflation has pushed up the cost of living across the globe, burning a hole in the common man's pocket.

Investing.com-- Most Asian stocks kept to a tight range on Thursday after data from China pointed to sustained weakness in the region’s biggest economy, although most indexes were nursing strong gains for November. 

Federal prosecutors in Manhattan said Nikhil Gupta, 52, worked with the Indian government employee, whose responsibilities included security and intelligence, on the plot to assassinate the New York City resident who advocated for a Sikh sovereign state in northern India. Prosecutors did not name the Indian official or the target, although they did describe the latter as a U.S.

Investing.com-- Chinese manufacturing activity declined further in November, as the sector saw increased headwinds from slowing overseas demand, while growth in the non-manufacturing sector also deteriorated. 

Investing.com-- Oil prices fell in Asian trade on Thursday tracking weak economic signals from top importer China, with traders now holding out for an upcoming OPEC+ meeting where the cartel is widely expected to announce more supply reductions. 

By Akanksha Khushi, Sayantani Ghosh and Krystal Hu

Gold prices consolidated in a tight range and hovered close to a near seven-month high on Thursday, as investors awaited key inflation print to gauge whether interest rate cuts in the U.S. would come sooner than previously expected. FUNDAMENTALS * Spot gold was flat at $2,043.69 per ounce by 0225 GMT, after hitting its highest since May 5 on Wednesday, and was poised for its second straight monthly gain. * U.S.

(This story originally appeared in on Nov 29, 2023)

Microsoft will take a non-voting, observer position on OpenAI's board, the ChatGPT owner's newly reinstated CEO Sam Altman said on Wednesday. Microsoft, one of the artificial intelligence startup's main backers, was not immediately available for comment.

Argentina’s President-elect Javier Milei says he's chosen Luis Caputo, a former finance minister and Central Bank chief who is known as an expert in markets, to lead the Economy Ministry when the right-wing leader takes office on Dec. 10