Target Financial News

European Commission on Saturday urgedG20 countries to agree to global targets on tripling renewable energy capacity and doubling energy efficiency by 2030, seen as critical to limiting the global average temperature increase to 1.5 degrees Celsius. Addressing the «One Earth» session at the G20 Leaders' Summit in New Delhi, European Commission President Ursula von der Leyen emphasised the urgency of addressing climate change, saying: «Climate change is man-made. So, it means we can fix it.» She underscored the disproportionate impact of climate change, noting that G20 countries are responsible for a staggering 80 per cent of global greenhouse gas emissions, while Africa, with less than 4 per cent of emissions, is among the most affected. The European Commission president reminded the G20 countries that «we are about to miss our objective of limiting global warming to 1.5 degrees». «So, it is absolutely critical that we maintain our path of 1.5 degrees.

«Short covering was clearly visible on 19,700 strike, that was the major call concentration area. So, that short covering is clearly indicating that now base is shifting higher towards 19,600-19,700, put writers are now acting as writing positions are taking place around those levels,» says Rajesh Palviya, Axis Securities.19,800 is what we have scaled past and also on the Bank Nifty, 45,100 is where we have touched. So, going ahead, what are the targets coming in for Nifty 50, 20,000, are we very close to that? Definitely. So, the kind of momentum we have witnessed throughout the week is clearly indicating that yes, we are heading towards the 20,000 mark. Yes, possibly in the coming week, we are going to scale up to the level of 20,000 or we can surpass that level also. Very strong buying action across the sector has been there.

Nasa's Psyche mission is gearing up for a voyage to the metal-rich asteroid bearing the same name. The spacecraft is set to depart from Nasa's Kennedy Space Center in Florida on October 5th, equipped with its solar arrays in a folded position and loaded with xenon gas, the essential fuel for its journey to the asteroid belt. Measuring approximately 280 kilometers at its broadest point, the asteroid Psyche could potentially be a component of a planetary building block, known as a planetesimal, from the early stages of planet formation. Upon reaching Psyche, situated in the main asteroid belt between Mars and Jupiter, the spacecraft will spend around 26 months orbiting the asteroid.

After gaining an average of 14% this week and more than 30% in the last one month, railway stocks may now come under some profit booking pressure. «4 out of 5 major railway stocks like RVNL, IRFC, IRCTC and Railtel are overbought with RSI above 75. Even though the outlook for these stocks remains bullish, expect some profit booking in the near term before the bulls regroup,» said Anand James, Chief Market Strategist at Geojit Financial Services. Edited excerpts from an interview: Given the broad-based buying seen in the market this week, do you think Nifty will easily scale the 20,000 peak ignoring all the concerns around the spike in crude oil price and dollar? What are the targets? Seven weeks after coming off from the record peak in December 2022, Nifty is back within its vicinity, with a weekly close above the 7-week SMA. Further, with just 23% of NSE 500 stocks in the 5% vicinity of their respective all-time highs, the market is only in the initial stages of a broad based rally. We are confident of continuation of uptrend, with Nifty’s upside target raised to 21200. Nifty PSE and Nifty CPSE stocks were the top performers in the week. Do you see any signs of the PSU indices being at an overbought stage?

One is pricey and slow: For a new force of up to 13 nuclear-powered attack submarines, the Australian taxpayer will fork out an average of more than AUD$28 billion ($18 billion) apiece. And the last of the subs won't arrive until well past the middle of the century.

Today is the World EV Day. Electric vehicles (EVs) play a pivotal role in reducing carbon emissions and combating climate change.

North Korea invited visiting Chinese delegates and Russian artists to a paramilitary parade featuring rocket launchers pulled by trucks and tractors, state media said Saturday, in leader Kim Jong Un's latest effort to display his ties with Moscow and Beijing in the face of deepening confrontations with Washington. The event in the capital, Pyongyang, which began Friday night to celebrate North Korea's 75th founding anniversary that fell on Saturday, came amid expectations that Kim will travel to Russia soon for a meeting with President Vladimir Putin that could focus on North Korean arm sales to refill reserves drained by the Kremlin's war on Ukraine. While China has sent a delegation led by Vice Premier Liu Guozhong to the North Korea's anniversary celebrations, Russia sent a military song and dance group. South Korean media speculated that the lack of Russian government officials at the festivities in Pyongyang could be related to preparations for a summit between Kim and Putin, which Washington expects within the month.

terrorists operating from Pakistan and said that they will not be allowed to live in peace even across the border, according to a report published by the news agency PTI. Speaking to media persons, on the sidelines of an event in Kishtwar, the DGP said, “We want to give a clear message to the traitors who have gone across the border and trying to revive terrorism here that they cannot live in peace there because we will reach them and those who are supporting them from here will be dealt with sternly." He said that the Chenab Valley comprising the Kishtwar, Doda, and Ramban districts was a target for terrorists in the past but the security agencies are vigilant and will not allow them to gain a foothold. Singh was further asked about the recent busting of a hideout used by Jehangir Saroori, the longest surviving Hizbul Mujahideen terrorist, in the higher reaches of Kishtwar.

Buy or sell stocks: Despite weak trends from global market cues on rising China-US tension, Indian stock market finished higher on sixth day in a row. NSE Nifty gained 92 points and closed at 19,819 levels, registering best week in the last two months. BSE Sensex finished 33 points higher at 66,598 mark whereas Bank Nifty index ended 278 points up at 45,156 levels.

chip designer owned by SoftBank Group Corp that is seeking roughly $5 billion in its stock market debut, has seen investor demand that is six times the amount it is asking for, people familiar with the matter said on Friday. While the oversubscription does not guarantee a strong performance for Arm's blockbuster U.S. initial public offering (IPO), it makes it more likely that the company will at least reach its targeted price range of $47 to $51 per share, the sources said. That price range values Arm at $50 billion to $54.5 billion on a fully diluted basis.

Elon Musk,on Friday, legally challenged recent social media laws implemented in California. The new laws require social media companies to reveal their policies for policing disinformation, harassment, hate speech and extremism. X Corporation's Elon sued California government over the law that aims to bring transparency and extremism.

Silver experienced some volatility at higher price levels after experiencing significant gains in the first four months of 2023. However, after every major dip, the domestic silver price has been seeing a range shift on the higher side, according to a report by Motilal Oswal Financial Services (MOFSL).

market capitalisation on prospects of winning a nearly $4-billion order from Saudi Aramco. This deal win is seen helping the engineering major clock in an over 20% growth in its order inflows in FY24, as against a guidance of 15%. Among the leading gainers on the Nifty 50, the shares closed nearly 2% higher at ₹2,901.60 on Friday. The order win from Saudi Aramco is reportedly for the second expansion phase of its Jafurah unconventional gas production project, and will be executed by L&T Energy Hydrocarbon.

By Leika Kihara

OTTAWA-Bank of Canada Gov. Tiff Macklem said higher interest rates are suppressing consumption and dampening price increases, and might be at “sufficiently restrictive” levels for the central bank to achieve its 2% inflation target.

Investment advisors expressed confidence their clients won’t be among those targeted by the IRS in an initiative that cracks down on wealthy tax cheats.

Warner Bros.' "The Nun II" from the «Conjuring» universe started its box office journey with $3.1 million in previews. The horror film is set to open this weekend, targeting an opening weekend haul of $30-33 million. This is lower than the first «Nun» movie, which opened with a record-breaking $53.8 million in 2018 and holds the highest worldwide gross in the series at $365.5 million. «The Nun II» is the first «Conjuring» installment released post-COVID-19 pandemic. In contrast, the previous entry, «The Conjuring: The Devil Made Me Do It,» debuted both in theaters and on HBO Max. In the context of the entire «Conjuring» series, «The Nun II» is expected to land in the middle, surpassing the opening weekends of «Annabelle Comes Home» ($20.3 million), «The Conjuring: The Devil Made Me Do It» ($24 million), and «The Curse of La Llorona» ($26.5 million). It's poised to come close to the opening numbers of «Annabelle: Creation» ($35 million). In terms of Thursday previews, «The Nun II» falls between «La Llorona» ($2.8 million) and «Annabelle Comes Home» ($3.5 million).

By Arathy Somasekhar and Jonathan Saul

web///// The plan calls for developed countries to hit net-zero targets “as close as possible to 2040". The same targets would apply to emerging economies, who could reach this landmark around 2050.

Arvind Kejriwal on 5 September, along with LG VK Saxena, flagged off 400 new electric buses from the IP State Depot, the national capital has ranked number 1 in the country, in terms of deploying electric buses in the city. Speaking at the occasion, CM Kejriwal said that these buses are part of the subsidy scheme of 921 buses. He even said that the Central government has provided a subsidy of ₹417 crore for electric buses, while the Delhi government will spend ₹3,674 crore.

WASHINGTON—President Biden has steered clear of talking about former President Donald Trump’s mounting legal problems. Trump’s record, however, is another story. Biden is in the early stages of seeking to define Trump’s record as president, reminding voters about how “the last guy" in the White House managed the economy and a spate of domestic issues.