UPS Financial News

oil demand heading into the northern hemisphere summer holiday. Nervousness about the seasonal pickup in oil consumption abounds. It happened in 2023, and it’s happening again this year. But as before, traders’ concerns are misplaced: Oil demand growth is doing just fine. The anxiety is reflected in the price of Brent crude, the global oil benchmark, which has dropped to less than $85 a barrel in recent days, down from about $90 a barrel in April. With the OPEC+ oil cartel meeting on June 1 to decide whether to prolong production cuts, the status of global demand matters. The group should look beyond the current noise and see that consumption remains firm. Admittedly, there are pockets of demand weakness. The middle distillates fuel segment, which includes diesel and heating oil, have seen soft consumption so far this year. But that’s largely due to a warm winter in the northern hemisphere, which reduced heating needs, rather than underlying economic malaise.In the diesel market, the biggest problem isn’t demand, but supply: Renewable diesel and bio-diesel are taking market share more rapidly than expected, in the process magnifying the diesel glut. In February, the last month with monthly data available, biodiesel and renewable diesel accounted for about 8.5% of total US diesel consumption. In 2020, the market share of both was under 1%.

LTIMindtree Ltd.(up 0.31 per cent), MphasiS Ltd.(up 0.25 per cent), Wipro Ltd.(up 0.17 per cent), L&T Technology Services Ltd.(up 0.03 per cent) and Coforge Ltd.(up 0.01 per cent) were among the top gainers.

Jyoti Structures Ltd.(up 4.91%), Gujarat Industries Power Company Ltd.(up 4.59%), KPI Green Energy Ltd.(up 3.88%), Torrent Power Ltd.(up 3.87%), NHPC Ltd.(up 2.51%), JSW Energy Ltd.(up 2.29%), Tata Power Company Ltd.(up 2.14%), SJVN Ltd.(up 2.07%), Kalpataru Projects International Ltd.(up 1.94%) and Suzlon Energy Ltd.(up 1.80%) were among the top gainers.

Starbucks India-origin CEO Laxman Narasimhan shared a heartwarming post on LinkedIn about his mother’s influence on his life. She was a lighthouse for me despite the many rocks that life doles out. «I am who I am and where I am because of her and because of my family. It’s a big void. She lives on inside me. God bless her, and God bless us all. Mothers do incredible things. It’s my first Mother’s Day without her. Celebrate all Mom’s on this Mother’s Day in the United States. They make us special,» he said in the post. «She was the backbone of our family despite having lost 2 kids and a husband by the age of 48. She instead devoted her life to children- as a kindergarten teacher of many,» he said. «She loved America- and wish she had come here when she was younger. Never once did she complain about all of this- all may be once, when I was upset with her that she had not posted my Harvard application. She read in a book that the college was too competitive and she did not want me there. She was relieved when Harvard called me to speak there once. She celebrated like I had been admitted there and felt less guilt then,» he said.

shares of Winsol Engineers debuted on the NSE SME platform with a premium of 387% on Tuesday. The stock was listed at Rs 365 as against an issue price of Rs 75. Ahead of the debut, the company's shares traded with a premium of Rs 200 in the unlisted market.

US tech stocks are not only a bet on innovation but also a possible hedge against inflation, according to some respondents in the latest Bloomberg Markets Live Pulse survey. Gold, the haven of choice for decades, is still seen as the best safeguard against the risk of rising prices, according to 46% of survey participants. But nearly a third said the tech behemoths are their first pick for the role.

An Edmonton family of three will soon become a family of seven, with the arrival of quadruplets.

Trump pledges ‘upper class’ tax cut if he returns to White House Cohen, the star witness in the hush-money case, detailed how Trump signed off on a plan to cover up the $130,000 Daniels payment under the guise of legal fees. Cohen’s testimony offered an insider’s perspective into Trump’s state of mind when he entered into the agreement.

The Nifty future closed positive with gains of 0.38% at 22224 levels. India VIX was up by 11.53% from 18.47 to 20.60 levels.

BofA Securities maintained a buy rating on Varun Beverages, Jefferies recommended a buy on Zomato, Morgan Stanley has an Equal Weight rating on AB Capital and Motilal Oswal recommended a neutral stance on UPL. We have collated a list of recommendations from top brokerage firms from ETNow and other sources:

inflation report this week that will likely shape the U.S. rates outlook, while the yen was hovering near a two-week low, stoking intervention worries. The currency market has been sedate this week, with investors seeking to gauge what the path the Federal Reserve will take this year in the wake of recent softer-than-expected U.S. labour market data and comments from central bankers.

buying at the fag-end. The 30-share BSE Sensex rose 111 points at 72,776 and the Nifty rose 48 points to 22,104.05. Stocks that were in focus include names like Varun Beverages, which rose 0.73%, BEML, which increased 14.5%, and Piramal Pharma, whose shares jumped 2.7% on Monday.

GameStop's share price skyrocketed Monday after the man who became the face of "meme stock" mania in 2021 with his enthusiastic promotion of the struggling video game retailer emerged from a three-year hiatus. On Sunday evening, Keith Gill, the trader known on some social media platforms as Roaring Kitty, posted an illustration of a person holding a video game controller while leaning forward on a chair on the social media platform X. On no other news, GameStop's stock more than doubled in early trading, prompting several temporary volatility-related halts by the New York Stock Exchange. The shares were up about 74% at the close, adding billions in market value in a matter of hours.

leader the BJP has produced in Bihar, Sushil Kumar Modi shall be remembered for patiently working towards the party's ascendance in a state where it is on its way to become a dominant force. Born in a Vaishya family in Bihar, Modi got involved in student politics while pursuing his BSc at Patna University and had played a key role in the Bihar movement of 1974 led by legendary socialist leader Jayaprakash Narayan, during which he also came in touch with his future collaborator Nitish Kumar and would be adversary Lalu Prasad. He went on to become one of the most prominent leaders of the ABVP, the RSS's students' wing, in Bihar, and often credited his entry into politics to the late Atal Bihari Vajpayee. According to an anecdote Modi often shared, it was at his marriage ceremony in 1986 that the former prime minister, who at that time headed the BJP, told him that it was time to give up student politics and become a «full time political activist».

Ganga Saptami 2024 is considered one of the most sacred festivals among Hindus. This day is dedicated solely to Goddess Ganga. It is also celebrated as Ganga Jayanti. People celebrate this day to honor the reincarnation of Goddess Ganga. As per the Drik Panchang, Ganga Saptami will be celebrated on the Saptami Tithi of Shukla Paksha in the month of Vaishakha. In the current year, Ganga Saptami will be celebrated nationwide on May 14, 2024. The date and time of Ganga Saptami 2024

death toll after a big hoarding collapsed in Maharashtra's Ghatkopar area has risen to 14 on Tuesday. According to the National Disaster Rescue Force, 74 people have been rescued alive from the spot, while 14 have been declared dead. National Disaster Response Force (NDRF) has been conducting rescue operation for those trapped since Monday evening, when the incident happened due to heavy rains and strong winds.

Having displaced the US, China is back in the top spot as India’s biggest trade partner, with bilateral trade hitting $118.4 billion in fiscal 2023-24, according to Global Trade Research Initiative data. This was made up of $101.7 billion in imports by India, up 3.2%, and $16.7 billion in Indian exports, up 8.7%.

1. Maintain a consistent sleep schedule: It's ideal to get at least 7-8 hours of sleep each night. To maintain this, create a consistent sleep schedule.

Tesla lays off over 16,000 employees; many face H-1B visa deadline Last month, Musk had planned his visit to India but he later postponed it. However, just days later, the billionaire visited China and won concessions for Tesla. Musk was due to meet PM Modi around April 22 and announce an investment of up to $3 billion in a car plant but cancelled saying there were "very heavy Tesla obligations".

Oil prices rose on Tuesday as the supply-demand balance looked set to tighten on operational disruptions, stronger demand and voluntary output cuts. U.S. West Texas Intermediate crude futures rose 18 cents to $79.30 a barrel by 1224 GMT. Brent crude futures gained 19 cents, reaching $83.55 a barrel.

bullet train, External Affairs Minister S Jaishankar said that it will help in decongestion and fasten the pace of urbanization. He was speaking at an event titled 'India's Vishwabandhu Approach to Global Relations' at the Constitution Club in Mumbai on Monday. Addressing the event, Jaishankar said, "Piyush Goyal and I worked on and a few years ago we decided that we will work with Japan on the bullet train...people think what is special in a bullet train, it is just a train, it will go a little bit faster."