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Subscribe to enjoy similar stories. Every Friday, Plain Facts publishes a compilation of data-based insights, with easy-to-read charts, to help you delve deeper into the stories reported by Mint in the week gone by. The shares of Adani group companies plunged on Thursday after the US indicted chairman Gautam Adani and other executives for allegedly bribing Indian officials.

Bitcoin (BTCUSD) briefly surged past $99,000 Thursday, creating another price record as investors, big and small, can't seem to get enough of the cryptocurrency.

RBI and the Maldives Monetary Authority on Thursday signed an agreement here for establishing a framework to promote the use of local currencies — the Indian Rupee and the Maldivian Rufiyaa (MVR) for cross-border transactions. The Memorandum of Understanding (MoU) was signed by Governor of Reserve Bank of India Shaktikanta Das and Governor of Maldives Monetary Authority Ahmed Munawar. «The MoU encourages the use of INR and MVR in current account transactions, permissible capital account transactions and any other economic and financial transactions as agreed upon by both countries,» the RBI said in a statement. This framework would enable exporters and importers to invoice and settle in their respective domestic currencies, which in turn would enable the development of trading in the INR-MVR pair in foreign exchange market.

Securities and Exchange Commission Chair Gary Gensler will step down from his post on January 20

Indian equities have entered correction territory on sustained selling by overseas investors and slowing earnings. Yet, valuations remain stretched relative to trends. External factors such as China's stimulus and US moderating rate cuts have been sold into.

stocks after a US court indicted Chairman Gautam Adani and several others in a $250 million bribery case. While the S&P BSE Sensex closed at 77,155.79, down by 422.59 points or 0.54%, the broader Nifty50 finished at 23,349.90, lower by 168.60 points or 0.72%. Here's how analysts read the market pulse: Commenting on the day's action, analyst Jatin Gedia, who is Technical Research Analyst at Sharekhan said that the daily charts suggest that the Nifty witnessed follow-through selling pressure from the previous trading session. «It has breached the low of 23350 and is now heading towards 23180. On the upside 23500 which is the 20-day moving average shall act as an immediate hurdle zone from a short term perspective,» Gedia said.

Donald Trump has picked a former Michigan congressman as his upcoming administration’s ambassador to Canada.Trump said in a statement that Pete Hoekstra would help him “once again put America first.”Hoekstra thanked Trump on social media platform X, saying he was honoured for the opportunity.He must still be confirmed by the U.S. Senate.Hoekstra served as U.S.

Bitcoin is jumping again, rising above $98,000 for the first time Thursday

Life Insurance Corporation of India (LIC), which has stakes in seven Adani Group stocks, witnessed an erosion of Rs 8,683 crore in the overall holding value in a single session on Thursday after a US court indicted Chairman Gautam Adani and several others in a $250 million bribery case. LIC holds stakes in Adani Enterprises, Adani Ports and Special Economic Zone (APSEZ), Adani Green Energy, Adani Energy Solutions, Adani Total Gas, ACC and Ambuja Cements.

Subscribe to enjoy similar stories. Wall Street is glued to “The Apprentice: Treasury Edition." The auditioning for President-elect Donald Trump’s Treasury secretary isn’t just great theater. Trump’s choice will be key to where his economic agenda is headed.

equity markets in 2025, with the Nifty 50 likely to reach 27,000, rebounding from its current 9.5% dip below the September 2024 peak due to FII outflows. The brokerage has elevated resilient export-oriented sectors like IT and pharma to overweight and market weight, respectively, benefiting from improving demand, a weaker rupee and defensive attributes. Goldman Sachs said the expected rebound in the Nifty 50 index would be fueled by a combination of mid-teen earnings growth and strategic focus on export-oriented sectors like IT and pharma, which have been upgraded to reflect their favorable positioning in the current macroeconomic environment, benefiting from improving global demand, tailwinds from a weaker rupee, and defensive characteristics. The brokerage report highlights stable revenue visibility in these sectors, supported by structural demand trends and cost advantages.

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Ridham Desai, Head of India Research and Chief India Equity Strategist,Morgan Stanley, says India is in a strong position and there's no need for concern. However, stricter policies could pose challenges in the latter half of next year. The recent growth slowdown was temporary, influenced by elections and heavy rains. By the end of September, the government's cash balance with the RBI was nearly Rs 3.6 trillion, indicating deferred spending, resulting in a fiscal deficit of 3.4%, well below the 4.9% target. The government's cash balance has now decreased to below Rs 60,000 crore, and since October 1, they have spent Rs 3 lakh crore in addition to tax revenues. Desai says India will be one of the rare exceptions which will stop borrowing to pay interest in about three years and will move to primary balance. When that happens, government debt to GDP will fall because nominal GDP in India is still 10-11%. It will create major space for the private sector to re-lever and a major lending boom in the private sector can be expected, accompanied by a big capex cycle.

Nifty 50 index recently breached a significant technical milestone, its 200-day Exponential Moving Average (EMA), on November 13 and is now trading below it. Domestic brokerage firm Bajaj Broking believes that it is a signal, promising potential returns for investors in the coming months. A report by Bajaj Broking suggests that historically, out of 11 instances analyzed (excluding the COVID-19 market crash), the Nifty showed positive returns in 10 cases over a one-year period. This track record further emphasizes the potential significance of the recent EMA touchpoint.

The offer will consist entirely of a fresh issuance of 40,86,400 equity shares, each with a face value of Rs 10, via the book-building route.

Punjab National Bank 3.77 per cent to Rs 97.10 at 01:45PM hours (IST) on Thursday. Earlier in the day, the stock saw a gap down start to the session. As per data available on BSE, total traded quantity on the counter stood at 3,532,629 shares with a turnover of Rs 34.08 crore till 01:45PM (IST). The stock traded at a price-to-earnings (P/E) multiple of 7.72, while the price-to-book value ratio stood at 1.34.

Bank of Baroda 3.41 per cent to Rs 229.10 at 01:50PM hours (IST) on Thursday. Earlier in the day, the stock saw a gap down start to the session. As per data available on BSE, total traded quantity on the counter stood at 1,508,015 shares with a turnover of Rs 34.06 crore till 01:50PM (IST). The stock traded at a price-to-earnings (P/E) multiple of 5.93, while the price-to-book value ratio stood at 1.14.

Subscribe to enjoy similar stories. Each year China makes as much steel as the rest of the world combined. The vast scale of its output—around 1bn tonnes a year—is obscured by the fact that most of it stays in the country.

Shares of Bharti Airtel are likely to remain in focus today as the company has awarded a multi-year, multi-billion deal to the Finnish telecom gear supplier Nokia to deploy 4G and 5G equipment across key Indian cities and states. “Nokia has been awarded a multi-year, multi-billion extension deal by Bharti Airtel (‘Airtel’) to deploy 4G and 5G equipment across key Indian cities and states,” said the company filing to the exchanges.

buy call on Suzlon Energy with a target price of Rs 68. The current market price of Suzlon Energy Ltd. is Rs 62.35. Suzlon Energy Ltd., incorporated in 1995, is a Small Cap company with a market cap of Rs 84951.61 crore, operating in the Power sector. Suzlon Energy's key products/revenue segments include Wind Turbine Generator, Sale of services, Other Operating Revenue, Scrap for the year ending 31-Mar-2023.

Investec has initiated coverage on Adani Energy with a «Buy» recommendation, citing significant opportunities in the transmission and smart metering segments.