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Read here: Week Ahead: Q4 Results, US Fed Policy, Auto sales, global cues among key market triggers this week On Friday, the Indian stock market indices ended sharply lower, snapping their five-day winning streak. The Sensex declined 609.28 points, or 0.82%, to close at 73,730.16, while the Nifty 50 settled 150.40 points, or 0.67%, lower at 22,419.95. “We expect market momentum to resume with a focus on stock-specific action due to the ongoing result season and sector rotation at play.

Rights issues 2024: Shares of Billwin Industries Ltd will be in focus when the stock market opens on April 29 (Monday). The Board of Directors of Billwin Industries has declared rights issue of equity shares for the eligible shareholders. The company has fixed April 29, 2024 as the record date for the purpose of determining the eligibility of equity shareholders to receive the rights entitlement in the rights issue.

A Russian “crypto ban’ could roll out as early as September 1, top lawmakers in the country have confirmed.

Bitcoin’s recent 1.4% spike in value this weekend has stirred interest among investors, prompting discussions around Bitcoin price prediction for the coming week.

In the latest Dogecoin price prediction, a notable 24-hour trading volume of $700 million has propelled DOGE to a 2.75% increase, trading at $0.150180.

Musk posted a picture with Qiang and said, "We have known each other now for many years, since early Shanghai days." ALSO READ: Top News Today: Elon Musk's surprise China visit, AdaniConneX securing loans, PM Modi in Karnataka and more Chinese state media reported that the Tesla CEO met Premier Li Qiang in Beijing, during which Li told Musk that Tesla's development in China could be regarded as a successful example of US-China economic and trade cooperation, Reuters reported. During his tour, Musk was expected to discuss the rollout of Full Self-Driving software and permission to transfer data overseas. The US electric vehicle maker rolled out Full Self-Driving, or FSD, the most autonomous version of its Autopilot software, four years ago.

₹5,000 crore may be offered for developing the ecosystem for building inland vessels in the country to support movement of cargo on national waterways. Capital support may also be considered for producers of sea bound vessels at a later stage. At present 14 PLI schemes with an outlay of ₹ 1.97 trillion are under implementation for five years from FY22.

Shehbaz Sharif is on a visit to Saudi Arabia to attend the World Economic Forum. Pakistan Muslim League-Nawaz (PML-N) leader Ishaq Dar is currently serving as Pakistan's Foreign Minister. He has been also included in the Council of Common Interests (CCI).

Rooting for Donald Trump to fail has rarely been this profitable

Stocks that traded heavily or had substantial price changes on Friday: Alphabet, Snap rise; Intel, Boyd Gaming fall

Exxon Mobil’s profit declined in its first quarter as natural gas prices fell and industry refining margins dropped

Home products retailer Williams-Sonoma will have to pay almost $3.2 million penalty for violating a Federal Trade Commission “Made in USA” order

Indian stock market: The Nifty remained under selling pressure throughout the session as the index failed to sustain above the crucial level of 22500. On the daily chart, a dark cloud cover pattern is observed, indicating a potential bearish reversal. Immediate support is situated at 22300, below which the Nifty could extend its losses towards 22000.

Equity markets are impacted more by the expectations of future monetary policy than the policy rate surprises on the day of announcement of the policy by the Reserve Bank, said an analysis. According to a working paper prepared by RBI officials, the regulatory and development measures which are announced along with the monetary policy too impact the stock markets.

JNK India IPO: Issue subscribed 28.13 times on the last day of bidding process led by QIBs, NIIs. Check GMP The grey market premium (GMP) for the JNK India IPO is +117, suggesting that JNK India shares are trading at a premium of ₹117 in the unofficial market, as reported by investorgain.com.

Bank Holidays in May 2024: Banks will remain closed on THESE 10 days. Check all details here In addition to May 1, the NSE and BSE will be closed on May 20 due to the general elections, specifically when all six Lok Sabha seats in Mumbai are contested in the fifth phase of the seven-phase electoral process. In Maharashtra, Lok Sabha elections are scheduled across five phases.

equity indices experienced a decline on Friday, primarily due to weakness in the financial sector. However, these losses did not overshadow the weekly gains, which were fueled by a post-results rally in key index constituents and reduced concerns regarding the Middle East. The NSE Nifty 50 was down 0.67% to 22,420, on the day, while the S&P BSE Sensex shed 0.82% to 73,730. Both the indexes snapped a five-day winning streak. However, for the week, the Nifty 50 and Sensex gained about 1.25% and 1%, respectively.

steel imports continue to surge, Tata Steel CEO T V Narendran has said there is a need to be watchful about the situation. The comment comes at a time when India has reported a 38 per cent surge in steel imports to 8.319 million tonnes, becoming a net importer of the commodity during the 2023-24 financial year. Speaking to PTI, the industry executive said, «It would be a pity if the situation continues in the long run. We have to be watchful about imports.» As long as it is unfair imports, the government needs to deal with it, Narendran said without elaborating further.

Also read: RBI sets standards for SFBs eyeing universal bank licence Uttam Tibrewal, executive director & deputy chief executive officer, AU SFB, said, “Prima facie it looks like we meet most of the criteria set out by the regulator. We are studying the circular in detail and will discuss the next course of action with our board soon. Currently, we are fully focused on ensuring a smooth integration with Fincare SFB and scaling our recently launched authorised dealer-I business of cross-border trade and forex for our customers." According to the RBI's guidelines, only listed SFBs can qualify for a universal banking license.

AU Small Finance Bank is targeting to double its balance sheet size to Rs 2.5 lakh crore in three years, helped by the acquisition of Fincare SFB and the growing consumption trend in the country. The bank earlier this week operationalized Authorised Dealer (AD-I) license with foray in forex with 'AU Remit' and Cross-border Trade with 'AU DigiTrade'. «We are targeting a growth of 25 per cent in the next three years and we should double the balance sheet size to Rs 2.5 lakh crore by the time we complete one decade of existence,» AU Small Finance Bank managing director Sanjay Agarwal told PTI. The bank started its business in 2017, with a balance sheet size of Rs 10,000 crore, which has now crossed Rs 1.25 lakh crore. Human resources has gone up from just 3,000 to 46,000 during the same period, he said.

India's dependence on Chinese industrial goods like telecom, machinery and electronics, Beijing's share in New Delhi's imports of such goods rose to 30 per cent from 21 per cent in the last 15 years, a report said. According to the report by the economic think tank Global Trade Research Initiative (GTRI), the growing trade deficit with China is a cause of concern, and the strategic implications of this dependency are profound, affecting not only economic but also national security dimensions. From 2019 to 2024, India's exports to China have stagnated at around USD 16 billion annually, while imports from China have surged from USD 70.3 billion in 2018-19 to over USD 101 billion in 2023-24, resulting in a cumulative trade deficit exceeding USD 387 billion over five years. The Indian government and industries must evaluate and potentially recalibrate their import strategies, fostering more diversified and resilient supply chains, GTRI founder Ajay Srivastava said.