Trends Financial News

The Indian stock market witnessed a massive sell-off on June 4, the day when votes for the Lok Sabha polls were counted. Intraday, front-line indices, including Sensex and Nifty, plunged as much as 8% after early trends started suggesting that the BJP-led NDA was not achieving the 400+ seats which it aimed for.

Indian stock market: Continuing their upward trend for the third consecutive session, Indian stock market benchmarks, the Sensex and the Nifty 50, reached new closing highs on Friday, June 7. Despite a sharp 6 percent drop on June 4, market benchmarks have shown solid gains so far in June. The Sensex has risen by about 3.7 percent, while the Nifty 50 has gained nearly 3.4 percent in the first week of the month.During the session, the Sensex reached a new all-time high of 76,795.31 before closing at 76,693.36, up 1,619 points or 2.16 percent, with all components in the green.

Despite this decline, the coin has attracted considerable attention in the cryptocurrency space, particularly in 2023, when it outpaced many altcoins in trading volume.

RedBalloon CEO Andrew Crapuchettes shares insights from a new report, ‘2024: The Toughest Labor Market,’ in a Fox News Digital exclusive.

MintGenie, Raj Khosla, Founder & MD, MyMoneyMantra, talks about how youngsters should handle their credit so that they can make the best use of their credit cards and other debt products.Spending large sums of money on weddings is one trend that is clearly defined by the ‘want’ rather than the ‘need’ aspect of consumerism. Given the importance of the event and societal pressures, millennials and GenZs are ready to start their loan journey now more than ever.However, it's crucial they weigh the long-term financial implications. Here are some tips:First, set a realistic budget.

Credit Information Companies (CICs) like CIBIL and others use multiple parameters to calculate an individual's credit score. One of the important parameters is the credit utilisation ratio. In this article, we will understand what is the credit utilisation ratio, how it impacts yourCIBIL score, and how to improve your credit utilisation ratio.

Expert view: Following the Lok Sabha election 2024 results, the D-Street witnessed a bloodbath on Tuesday, June 4. However, in the previous three sessions, domestic benchmark indices have extended advances into the third straight session, ending at new closing highs on Friday, June 7.

brought on by a massive water main break earlier in the week — still has no timeline to be resolved.“This current level of water use cannot continue … (or we will be) at risk of running out,” said Nancy Mackay, the City of Calgary’s water services director.“We must all further reduce our water use to effectively use our remaining water supply.”Mackay joined Susan Henry, the chief of the Calgary Emergency Management Agency, for a Friday morning news conference to provide an update on the water issue that first arose Wednesday night.On Thursday, Calgarians were asked to stop using water outdoors and do their best to minimize indoor water use.Both Mackay and Henry said Calgarians did a good job of conserving water for much of Thursday, but more conservation efforts were needed once people got home from work in the evening.“(That) took us back to a situation where we were using more water than we can produce,” Henry said.

As the midway point of 2024 approaches, Citi Wealth has provided insights into how it is positioning portfolios for the months ahead.

short positions by FPIs have resulted in lower double-digit positive return possibilities for the Nifty in a year, believes domestic brokerage firm ICICI Securities, while stating that rising fear in terms of high VIX. “Our one-year forward (May’25) target for NIFTY50 stands at 24,900 (20x P/E multiple) and implies a ~10% upside, against the long-term expected returns of 14%,” said ICICI Securities in a report.

India's strong growth is leading to a trend of 'reverse flipping' as domestic startups that once used to move abroad for capital access and tax benefits are now returning home, a top government official has said. Commerce Secretary Sunil Barthwal also said that the digital economy along with emerging technologies like AI and the rise of data centres were key to future Indian growth.

«I think primarily it is the NBFCs which is there, which actually the NBFC MFIs where this issue is in terms of the higher rates. Spandana has announced that they are going to cut rates. So, we are seeing this trend across all the MFIs. And it should play out for the other MFIs also over the course of next few quarters,» says Viral Shah, Vice President, IIFL Securities. Let us start with that comment that has come in. What is it in terms of the risk that has comes out for the NBFC? Is it much of a concern? How are you seeing? Yes, they have cautioned this before, but how do you see this now shaping up? I think RBI's pattern in terms of incrementally dealing with all the regulated entities is quite set. They have highlighted this issue quite sometimes. The deputy governors have highlighted it in their interactions. And today we had a comment from the governor himself. So, I think this is one key area that should be on focus and he has specifically called out the MFI sub-segment and that is a place where we believe that some of the higher rate lenders will have to take a rate cut. In fact, a couple of them have already announced that they are going to take between 50-70 odd basis points of rate cuts over the next few quarters.

Ethereum spot ETFs got approved in the US signaling that the altcoin market is about to get its due recognition and adoption. Bitcoin has crossed $70,000 again and is within 5% of its all-time high. Key altcoins (Ethereum, Solana and Cardano) are still 20-30% off their 2021 highs even as BNB looks to enter price discovery mode. The overall crypto market, currently at $2.6 trillion, looks to exit its consolidation phase and push towards a strong second half of the year. To maximize your crypto returns, it is prudent to allocate a decent share to emerging and upcoming narratives that potentially drive value in the ecosystem. Today, we cover the trend of AI and tokens that can leverage its narrative along with the continued focus on RWAs and memecoins. While we do the crystal gazing, we encourage investors to understand the risks and growth potential associated with each asset and do their independent analysis.

DLF Ltd. gained 0.74 per cent to Rs 835.9 in Friday's trade. It hit a high of Rs 838.8 and low of Rs 822.65 during the session. On the technical charts, the 200-DMA of the stock stood at Rs 724.73, while the 50-DMA was at Rs 864.79. If a stock trades above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades below 50-DMA and 200-DMA, it is considered a bearish trend and if trades between these averages, then it suggests the stock can go either way.

loan-to-value (LTV) for gold has increased by nearly 20% in the last one year. Gold LTV, which was hovering around ₹4170 per gram during the last week of May, has zoomed to about ₹5000 per gram now, data with the Association of Gold Loan Companies (AGLOC) India showed.Simply put, a sovereign of 22-carat gold (8 grams) would get you a loan amount of about ₹40000 now compared to around ₹33300 a year ago.

Also Read: RBI Monetary Policy LIVE Updates: RBI keeps repo rate unchanged at 6.5%; raises FY25 GDP growth forecast to 7.2%Prices of industrial metals have registered double-digit growth in the current calendar. year so far, these trends, if sustained, could accentuate the recent uptick in input cost conditions for farms.

Bajaj Holdings & Investment Ltd. traded 2.22 per cent higher in Friday's session at 10:45AM (IST). The stock opened at Rs 8119.85 and has touched an intraday high and low of Rs 8340.0 and Rs 8119.85, respectively, during the session so far. The stock quoted a 52-week high of Rs 9355.0 and a 52-week low of 6634.6. About 2,004 shares changed hands on the counter so far.

KangaMoon dominates the meme coin space At the moment, KangaMoon (KANG) is beginning to gain traction in the meme coin space. In addition, sales from the ongoing presale have already exceeded $7.7 million, and estimates indicate that they will surpass $8 million in the next two weeks. Furthermore, KangaMoon has become well-known for creating a sizable community with over 32,000 registered users.

Tube Investments of India Ltd. rose 2.04 per cent to Rs 3940.6 at 10:25AM hours (IST) on Friday. 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 3,233 shares with a turnover of Rs 1.27 crore till 10:25AM (IST). The stock traded at a price-to-earnings (P/E) multiple of 62.2, while the price-to-book value ratio stood at 14.15.

Wipro, Mphasis and Coforge and Persistent Systems were almost 4 per cent, while those of Infosys, Tech Mahindra, HCL Tech and TCS were up 1-2 per cent at that time.The IT pack has been in the green for the last three consecutive sessions. On June 5, the index jumped 2.39 per cent, and on June 6, it gained 2.83 per cent.Experts say most IT stocks are gaining as investors rotate money and play defensive due to the uncertainty surrounding the new government formation."Most market participants are trying to be defensive because of uncertainty on the government formation front.

Stock Market News: Domestic equity benchmark indices, the Sensex and the Nifty 50, rose in early trade on Friday, extending their gain for the third day in a row, ahead of the RBI's monetary policy announcement today. Buying in IT stocks contributed to the market's bullish trend.The 30-share BSE Sensex rose 254.53 points to 75,329.04 in early trading.