Target Financial News

This marks an escalation in the crisis that erupted after Canada's Prime Minister Justin Trudeau said India has hands in the murder of Hardeep Singh Nijjar, who was a designated terrorist in India and Khalistani activist. This was followed by both countries expelling a senior diplomat in a tit-for-tat move. New Delhi has told Ottawa that it must repatriate roughly 40 diplomats by October 10, FT reported citing people familiar with the demand.

As more than 50% of Bank Nifty constituents are still above 50-DMA, the index could find new leaders, says Anand James, Chief Market Strategist at Geojit Financial Services. “Also the Bank Nifty index appears due for a bounce back, but we would be first interested in initiating shorts on pull back to 45000. However, we feel that, after due consolidation, the latter part of October could see a breakout beyond this region,” he says. Edited excerpts from a chat: Nifty ended September 1.5% stronger despite all the negative news surrounding rising crude, bond yields and dollar index. Given the fact that FIIs are having $733 million short position in index futures, where do you see the index going in October which is known as 'Bear Killer'? FIIs have ramped up their index future shorts, which now constitute 27% of shorts in the segment across participants.

The S&P BSE Sensex rose more than 300 points while the Nifty50 closed above 19600 levels on Friday. India VIX was down by 10.28% from 12.82 to 11.50 levels in the previous trading session. Volatility cooled off and gave comfort to the bulls in the market at key support zones. Since it is the beginning of the new series, options data is scattered at various far strikes in the monthly series.

Global investment bank JPMorgan’s decision to include Indian government bonds into its emerging market bond index is expected to be a game changer for the bond market, and a spillover effect will be seen in debt mutual funds as well. The inclusion in the bond index will channel global passive debt flows in India, as passive funds, by nature, are longer term, says Avnish Jain, head-fixed income, Canara Robeco Mutual Fund. Expectations of large FII inflows due to the bond inclusion and rate hike cycle peaking in both local and global markets should start attracting inflows into debt funds, Jain said. In an interview with ETMarkets, Jain highlighted the significance of the bond inclusion, the inflows outlook, and the asset allocation strategy for debt fund investors. Edited excerpts: Let’s begin with the hot topic today. What changes for India’s bond market with the JPMorgan bond index inclusion? The inclusion in the JPMorgan bond index is a game changer for the Indian government bond (IGBs) markets. While FII investments have been allowed in IGBs for a long time, they were more active and selective in nature, depending on the overall macroeconomic situation as well as relative attractiveness of the Indian debt market within the EM space. The inclusion in the bond index will channel global passive debt flows in India. Passive funds, by nature, are longer term and generally fluctuate only in case of change in weightage in the index.

Vedanta Ltd. with a target price of Rs 250.

₹232.35 apiece on the BSE. In a move to unlock value for its shareholders, the billionaire Anil Agarwal-led Vedanta Group unveiled a complete overhaul of its Indian metals, mining, and energy conglomerate, Vedanta Ltd.

AFP reported. Lowell had also asked Judge Christopher Burke to allow Biden, who lives in California, to appear by video instead of in person but the request was denied. "The defendant should not receive any special treatment in this matter," Burke wrote in his ruling.

Shares of Vedanta are set to remain weak over the medium term, weighed down by concerns of debt liabilities at its parent company, which will outweigh the announced plan to split businesses to unlock value trapped in a holding structure. The natural resources major, last week, announced that it will demerge its existing business into six listed companies, aiming to build a simplified corporate structure, while boosting the valuations of the diversified businesses. While analysts see the move helping the company eventually, they remain sceptical about its impact over the next few months, especially as they also await details of how debt will be distributed among each of the businesses. «While one could argue for a (theoretical) case of multiple expansion on peer-benchmarking, we cite risks of inter-group restructuring, carbon-heavy assets, cash flow burn in new ventures amongst others,» analysts at Investec Capital said in a note to their clients.

Early 2023 was a relatively unstable period for debt markets fuelled by increasing interest rates, regional US bank failures and rising inflation. As a result, a number of local issuers turned to the US private placement (USPP) market in larger numbers than previous years.

Automotive News executive editor Jamie Butters discusses the expansion of the UAW strikes and its impact on car buyers.

The cryptocurrency sector has increasingly become a prime target for hackers in recent years.

The pace of awarding of highway projects is expected to accelerate in the coming months as the issues behind the current slowdown have been “substantially addressed” and the government is now working with a target to award 12,500-km stretches for this financial year, a senior official said.

T. Rowe Price Group Inc. and Oak Hill Advisors are launching a new private credit fund open to individual investors in the U.S. to take advantage of the rapidly growing $1.5 trillion market.

Some analysts believe the upgrades could spark a rebound in deliveries in the fourth quarter by allowing Tesla to refresh its line-up with models that could compete better with offerings from U.S. rivals such as Ford and BYD in China. Deliveries of the updated and higher-priced Model 3 compact sedan are expected to start in the fourth quarter, while a Cybertruck launch event is also planned later this year. The electric-vehicle maker, which will report quarterly results on Oct.

India in a murder case of a globally wanted criminal. But his worryingly cavalier ways have thrown the spotlight on the faulty instincts within the ‘Five Eyes’ (FVEY) to target India at a time when it’s a partner in every other folder on the table.

airborne intelligence gathering aircraft under a project that will see the development of indigenous sensor technologies and systems. The new airborne intelligence, surveillance, target acquisition and reconnaissance (ISTAR) platform will be vital to map out battlefields and monitor enemy movements in real time, said people with knowledge of the matter. They said the air force has sought approval for a ₹6,000 crore project under which three ISTAR aircraft will be acquired.

Monday, 2nd October 2023 – Wall Street Memes ($WSM) has come from a standing start to become the 4th-most-traded meme coin in global crypto markets.

US Federal Reserve will likely need to keep interest rates higher for longer in order to firmly bring down inflation, a senior Fed official said Monday. The Fed has raised its key lending rate 11 times since March 2022, lifting rates to a 22-year high as it looks to bring inflation down to its long-term target of two percent. Higher rates lower inflation by raising the cost of borrowing, which can cause financial pain for consumers with mortgages and outstanding loans. Despite falling sharply over the last 12 months, inflation remains stubbornly above target, leading most Fed officials to predict last month that another hike is needed this year. «The most important question at this point is not whether an additional rate increase is needed this year or not, but rather how long we will need to hold rates at a sufficiently restrictive level to achieve our goals,» Fed Vice Chair for Supervision Michael Barr told a conference in New York in prepared remarks. «I expect it will take some time,» he continued, adding that his decision would be guided by «a range of incoming data.» Barr's comments echo the views of the majority of his colleagues, who recently lowered the number of rate cuts they expect in 2024, suggesting a longer period of high rates. In his remarks, Barr said recent data pointed to moderating inflation, but «resilience» in economic data. «I now see a higher probability than I did previously of the US economy achieving a return to price stability without the degree of job losses that have typically accompanied significant monetary policy tightening cycles,» he said. He added that «the historical record cautions that this outcome could be quite difficult to achieve.»

Automotive News executive editor Jamie Butters discusses the expansion of the UAW strikes and its impact on car buyers.

Trinamool Congress general secretary Abhishek Banerjee along with party leaders and workers sat on a dharna at the Rajghat here on Mahatma Gandhi's birth anniversary on Monday demanding the release of funds for West Bengal by the Centre. The Lok Sabha member, accompanied by party leaders including MPs, MLAs and state ministers who had arrived from West Bengal, paid tributes to Gandhi at the memorial and held the protest for two hours, sporting black armbands and displaying placards, after which they were escorted out by security personnel.

Peter Alexander, the Premier Investments-owned sleepwear brand targeting an overseas expansion is worth between $999 million and $1.59 billion, according to investment bank analysts working to place a valuation on the business ahead of a potential spin-off and ASX listing.