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Laurence Balanco of CLSA says Nifty has completed this topping pattern that had formed between August and October – the classic head and shoulders reversal – and that still gives a downside target around 22,800. The midcap sector has also rolled over from the rounding topping pattern that we have had for the past six months and not yet met the minimum downside targets. There is no evidence of slowing in downside momentum and the relative underperformance continues. Be patient and wait for those opportunities to develop. Balanco also says that while we have been down for roughly a quarter, the consolidation can take another quarter. So, this is a process of three to six months which will give us a platform for a resumption of the longer-term uptrend. Let us understand the way the world is getting divided. There is an emerging market basket which is moving lower and then there is a developed market basket which is moving higher. I am mainly talking about the US market here. Do you think there is a sizable disconnect between what the developed markets are doing versus where emerging markets are moving? Could that extend for another quarter or so? Laurence Balanco: It is quite interesting.

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Britain's motor finance industry is in disarray, with analysts warning of worst-case scenarios similar in magnitude to the country's costliest consumer banking scandal.

U.S. Secretary of State Antony Blinken says the Biden administration intends to bolster its military support to Ukraine

Jai Bala, Chief Market Technician, Cashthechao.com, says he expects the Nifty to hit somewhere to about 21,300 by the end of the year and the banking index to hit somewhere close to 42,000 with an intermediate pause at about 49,000 and 47,000. The Dollar index will be about 109 for the end of the year. The 10-year yields for the US would be about 5.5% by the end of the year. By 2026, the 10-year yields will hit about 800 bps. That is the medium to long-term forecast for the global markets and the macros. Bala also says retail investors should raise as much cash as possible as they can get in and get out of the market much faster than the institutions. Is there any ray of hope for the markets and what can really provide a sigh of relief at this juncture? Jai Bala: I had spoken to you around the time when China's stimulus was on and at that time I had mentioned that the Nifty was likely to drop to somewhere close to 21,300 and when people are focusing on China's stimulus, we should have been focusing on the India correction which is about to set on. I have been holding the view from the 1st of October that this decline is likely to take the market to somewhere close to the June 4th low. So, we are set for further decline to come through, although there could be a counter trend bounce along and the market has just printed the 200-day moving average and so we could see a slight relief. But the markets are still on sell on rise.

Federal Reserve easing. Cryptocurrency bitcoin also shot to a fresh record high of $93,480 overnight, and was rising back towards that level early in Asia's day. Trump has vowed to make the United States «the crypto capital of the planet».

Subscribe to enjoy similar stories. MUMBAI : Mutual funds have emerged as an attractive investment vehicle for non-resident Indians (NRIs) keen on participating in India’s booming economy. Unlike direct investment in stocks, which involves cumbersome account setups, regulatory complexities, and high costs for Portfolio Investment Scheme (PIS) or Non-PIS demat accounts, mutual funds offer a streamlined and cost-effective alternative.

This week IT engineering services provider L&T Tech Services signed an agreement to acquire California-based Intelliswift for a total consideration of $110 million. Amit Chadha, the company’s chief executive and managing director, told ET that the firm plans to double the revenue of the acquired company (whose annual revenue is about $100 million) in the next three years. While half of Intelliswift’s revenue comes from high tech, the rest comes from fintech and retail, along with the private equity channel. Persistent Systems in September said it was acquiring select assets from SoHo Dragon for $4.7 million. SoHo Dragon is a Wall Street-based consulting and staffing firm primarily in the business of providing IT services to BFSI customers. The Pune based firm said at the time, “The acquisition of the select assets will help in consolidating the relationship with a strategic and large customer in the BFSI domain.”

GPU) access in India, particularly in the realm of cloud computing and artificial intelligence (AI) infrastructure, according to industry executives and experts. Neysa Velocis, Mumbai-based Neysa’s flagship platform, helps scale up AI projects using GPU infrastructure and has a diverse inventory of thousands of GPUs. Indore-based NeevCloud is a recent entrant with plans to deploy 40,000 GPUs, aiming to provide affordable and accessible GPU resources to AI researchers and developers. Bengaluru-based Jarvis Labs has access to more than 1,000 GPUs through partners and also has its own capacity in the country.

Nigeria has inked a $1.2 billion deal with a Chinese firm to revitalize a gas processing facility, a move that officials say could propel the African country to a leading position in aluminum production

Amazon has launched a low-cost online storefront featuring electronics, apparel and other products priced at under $20

Late evening on Wednesday, countries approached Zaheer Fakir of the UAE and Fiona Gilbert of Australia, co-chairs appointed by the COP29 UN Climate Conference presidency to resolve technical differences and finalise a draft text for ministerial consideration, to «streamline» a 34-page draft that had been prepared overnight after the developing country bloc G77 and China rejected a seven-page framework that the co-chairs had prepared earlier. With this all options are back on the table. Developing countries are clear that the new climate finance goal, the successor to the $100 billion plan, must be about rich industrialised countries providing the funding. Developing countries said any text that proposes shifting the burden of providing climate finance to them was unacceptable.

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The label will be used from early next year, when Schroders will also provide an update to the fund prospectus following the change. Anna O'Donoghue, global head of product development and governance at Schroders, told Investment Week the asset manager is one of the first to adopt the Sustainability Focus label for an equity fund with a «broad standard of sustainability». Schroder BSC Social Impact plans investment policy revamp to adopt SDR label «We firmly believe in the integrity and robustness of our wider sustainable and impact investment approach and are liaising closely with...

TeamLease EdTech on Wednesday said it has signed an agreement with the Ministry of Labour and Employment to enhance employability through work-linked degree programmes. Under this Memorandum of Understanding (MoU), TeamLease EdTech will bring around 200 work-linked degree programmes on the National Career Service (NCS) portal, each with embedded internships that provide over 5,00,000 hands-on learning opportunities. Leveraging its digital platform, Digivarsity, TeamLease EdTech will make live internship opportunities accessible to students pan India through the NCS platform, creating pathways that bridge skill gaps and prepare a job-ready workforce aligned with India's evolving job market, it said.

India Game Developer Conference (IGDC), a three-day initiative of Game Developer Association of India, began here on Wednesday with over 100 global and local gaming developers and publishers showcasing their immersive and interactive entertainment. According to a press release from the organisers, Sanjay Jaju, secretary, Ministry of Information and Broadcasting emphasised that the video gaming industry is essentially led by content and creativity and the ministry would work with the Game Developer Association of India to create high-quality talent at scale in the country aiming at dominating the global gaming space. Jaju said skill development in the Video Gaming Sector will get a massive uplift by the formation of Indian Institute of Creative Technology that the Centre is planning.

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The initiative was to be a temperature check on the industry and a framework to provide support for victims. A year on, there have been 25 people who have come forward with their first-hand experiences. These experiences have often had quite a profound impact of the lives of the individual, but corporately are not even on the radar. Seven themes have emerged from the feedback such as abuse of power, micro aggressions, differing perspective, difficulty for victims to come forward, addressing bad apples, harassment, and poorly handled situations. The challenge is: what can the Div...

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