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BSE Sensex was valued 24.8 times the earnings of its 30 constituents. This average monthly price-to-earnings (PE) ratio of the Sensex has been higher than this only about 20% of the time since 1990. While it has delivered gains even at higher valuations, some of the corrections have been brutal—the Harshad Mehta securities scam in 1992, the dotcom crash in 2000, and the US financial contagion in 2008.

HONG KONG—The retail world used to cater to Chinese tourists. Luxury shops opened wherever they went, and Parisian department stores hired Mandarin speakers. Mom-and-pop stores in Hong Kong were replaced by vendors offering products Chinese tourists demanded, such as milk powder and medicines.

PTI. The incident took place on 14 December when the woman, identified as Reena, came under the train after her saree got stuck in the door. As per the report, it could not be known whether the woman was getting off of the train or boarding it.

Romal Shetty, CEO, Deloitte India, says “major companies have to move fast because some disruptions can be quite serious. In this round of development a lot more smaller companies make a big splash. Some key niche technologies will be able to make that big impact and some of the ones that we saw 10 years back now will get to $1 billion,$2 billion much faster than probably 10-20 years back and we see some of those real gems coming out of India.” Coming to the IT sector, will the bigger companies become bigger or will there be serious challenges for them? Will AI change the pecking order? Some of the major companies that we actually have are fairly well run professionally well run, so they will continue to remain but the important thing for them is to be how agile and flexible they are and how fast they can move because some disruptions can be quite serious. But I think in this round of development you will see a lot more smaller companies make a big splash. You will see some key niche technologies for example able to make that big impact and you will see some of the ones that you saw 10 years back now but in a much faster way get to $1 billion,$2 billion much faster than probably 10-20 years back and we see some of those real gems coming out of India.

Also Read: Over 45 smallcaps rise 10-30% as Sensex crosses 71,000-mark; do you own? As a culmination of these factors, the Nifty 50 soared to an all-time high of 21,492 points on Friday, concluding the week with a robust rally of 2.32%. 37 out of the 50 constituents of Nifty 50 ended the last week in green. HCL Technologies led the pack with an impressive rally of 9.3%, reaching ₹1,491 apiece and achieving a record high of ₹1,497.

MV Ruen, was boarded by armed pirates, prompting an immediate reaction from Indian naval forces. According to a naval spokesperson, the Indian warship, engaged in anti-piracy patrol in the Gulf of Aden, swiftly changed course to pursue MV Ruen after it issued a Mayday call via the UKMTO portal, reporting the presence of around six unknown individuals on board. The safety of the 18 crew members aboard MV Ruen remains a top priority, with the Indian Navy coordinating efforts with other agencies and a multi-national force in the area. An official stated, «The overall situation is being closely monitored, and the safety of the crew on board the merchant vessel is paramount.» Both a maritime patrol aircraft and the warship have been deployed to monitor the hijacked vessel's movements.

Fox News, the monumental timepiece will be designed by computer scientist and inventor Danny Hillis, and is being built inside a mountain in West Texas. According to a Fox News report, the 10,000-year clock will be operational with the help of Earth’s thermal cycles. It will have other components, such as a solar synchronizer, a pendulum, a chime generator, and a series of gears and dials.

Winter Wonderland event in Overwatch 2 kicks off on December 19, Tuesday, bringing back the familiar winter festivities.

The Finals Season 1, version 1.3.0, prioritizes bug fixes and introduces new servers, addressing some persistent issues in the popular competitive shooter. The Finals Season 1 Update 1.3.0: Bug Fixes and Improvements

With the Fed signaling rate cuts for 2024, yesterday was another good day for markets, with the Russell 2000 (IWM) cashing in on its resistance pressure with a 3%+ gain. In doing so, it easily surpassed the August swing high on higher volume accumulation.

The head of the Bank of Canada is pushing back on expectations for interest rate cuts, despite calls from the market and central bank counterparts south of the border that tightening could reverse in the new year.

Indian Navy has responded to a pirate attack on a merchant vessel in the Arabian sea, deploying a warship and a reconnaissance aircraft to track the boat. The mission deployed assets of the Indian Navy near the Gulf of Aden — a known piracy hotspot — were activated after a distress call was received from a Matla flagged vessel on Thursday evening. «Responding swiftly to the developing situation, Indian Navy diverted its Naval Maritime Patrol aircraft undertaking surveillance in the area and its warship on Anti Piracy patrol in the Gulf Aden to locate and assist MV Ruen,» officials said. They added that MV Ruen — a bulk carrier built in 2016 — sent a distress call saying that it was being boarded by six unknown persons while sailing in international waters.

A month ago the trend in global markets remained bullish despite the fallout from a correction that started mid-summer, based on several sets of ETF pairs. Following yesterday’s upbeat Federal Reserve news, however, the upbeat outlook has strengthened.

Internet gambling and sports betting set new records in New Jersey in November as the Atlantic City gambling market continues to evolve and become less dependent on physical casinos

Social media users shared a range of false claims this week

Two wildlife conservation groups have filed a lawsuit against BNSF Railway over delays in finalizing a plan to reduce the number of federally protected grizzly bears that are killed by trains in northwestern Montana and northern Idaho

Cutting the Bank of Canada’s policy interest rate doesn’t seem to be top of mind for governor Tiff Macklem, who said Dec. 15 that it’s still too early to consider undoing the most aggressive series of rate hikes in decades. Macklem made the remarks while delivering his end-of-year speech before the Canadian Club Toronto on Friday, two days after United States Federal Reserve chair Jerome Powell poured fuel on a stock market rally by suggesting that rates were at or close to their peak. The Financial Post’s Denise Paglinawan breaks down what you need to know about Macklem’s speech.

Electric vehicle inventories on United States dealer lots reached a new high in December, with a 114-day supply that was more than double what it was a year ago.

Economist Peter Morici reacts to the Fed signaling that it could cut interest rates three times in 2024, on 'Varney & Co.'

ALSO READ: Google CEO Sundar Pichai opens up on company's biggest layoff in 25 years: ‘We could have done differently’ Although slightly more optimistic than the CBO, the Federal Reserve had a similar outlook for the economy in 2024. It predicted that the real GDP growth would slow down to 1.4 percent in 2024, before rebounding in the following years. The Fed also expected the unemployment rate to increase to 4.1 percent by the end of 2024, which was lower than the CBO’s estimate, reported Hindustan Times.

Williams pushed back against the market's rate cut expectations, though the index remained on track for its worst weekly performance in a month. The dollar tumbled broadly after updated interest rate projections of Fed officials released on Wednesday showed an expectation for 75 basis points in cuts in 2024. Fed Chairman Jerome Powell was also interpreted as striking a more dovish tone at the conclusion of the U.S. central bank's two day meeting, when he said that the tightening of monetary policy is likely over, with a discussion of cuts coming «into view.» But Williams said on Friday that «we aren't really talking about rate cuts right now» at the Fed and it's «premature» to speculate about them. «It strikes some of the similar tones that we heard from Powell earlier this week but it kind of reinforces the fact that the Fed is still very much a data dependent bank and not really endorsing what the market's pricing in to a degree,» said Bipan Rai, North American head of FX strategy at CIBC Capital Markets in Toronto. Rai also noted that a large part of the move in the dollar this week has been due to rebalancing positions that were heavily tilted towards the greenback and focused in specific currency pairs, such as against the Japanese yen. «This is a story about the inordinate amount of leverage and skewed positioning in the market that needed to be rebalanced more than any sort of dovish interpretation of what Powell said earlier this week,» he said. Traders are pricing in aggressive expectations for rate cuts, with the first reduction seen likely in March and 145 basis points in cuts seen by December. The dollar index was last up 0.39% on the day at 102.35.