UPS Financial News

Stock market today: After witnessing a massive sell-off on Wednesday, the Indian stock market shifted into a reasonable upside bounce amidst positive market breadth on Thursday. The Nifty 50 index added 148 points and ended at the 22,146 level, the BSE Sensex gained 335 points and closed at the 73,097 level whereas the Bank Nifty index finished 191 points lower at the 46,789 mark.

Buy or sell stocks: After a worst selloff in the previous session, the Indian stock market witnessed some recovery on Thursday. The Nifty 50 index gained 148 points and finished at 22,146 level, the BSE Sensex shot up 335 points and ended at 73,097 level whereas the Bank Nifty index lost 191 points and closed at 46,789 mark. In the broad market, the small-cap index shot up 3.11 percent while the mid-cap index scaled 2.28 percent.

Indian stock market can utilise several income tax planning strategies to increase their returns. Long-Term Capital Gains (LTCG) TaxIn India, long-term capital gains tax applies to gains from the sale of listed equity shares and equity-oriented mutual funds held for more than one year. Mumbai-based tax and investment expert Balwant Jain suggested holding equity investments for at least one year to benefit from the favourable LTCG tax rate of 10%.

Adani Group-helmed $2.1 billion project in the satellite city of Navi Mumbai is a microcosm of the massive infrastructure overhaul underway in India as its Prime Minister Narendra Modi seeks to outrun China. For Gautam Adani, it’s a test of whether he can put India on the global aviation map. The airport, with a lotus-shaped design mimicking India’s national flower as well as the election symbol for Modi’s party, should start operations in March next year with a capacity for 20 million passengers a year.

The Bitcoin (BTC) price dipped as low as $68,500 on Thursday amid profit-taking, before dip-buying bulls buoyed the price back to $70,500.

(Reuters) -Palestinian President Mahmoud Abbas named Mohammad Mustafa, an ally and leading business figure as prime minister with a mandate to help reform the Palestinian Authority (PA), the state-run WAFA news agency said on Thursday.

(Reuters) — Smartsheet (NYSE:SMAR) on Thursday provided a revenue outlook that missed analyst estimates, sending its stock down 10%, even after the cloud software seller's quarterly revenue exceeded estimates.

Minimum wage workers in federally regulated sectors will get a bump in their paycheques starting next month.

Indian travellers are buckling up for a sizzling summer season this year with early indicators from travel companies suggesting exponential demand. Bookings for the country's peak summer period of April-June are already 30-40% higher compared to last year. Officials at domestic airlines told ET that while Indians will be out in full force for the summer season, an inadequate number of flights is likely to trigger a spike in air fares. At online travel company Cleartrip, international flight bookings for the April to June period are 37% higher compared to the same period last year, said Gaurav Patwari, vice president for air category.

Millie Bobby Brown, the acclaimed actress known for her role as Eleven in Netflix's hit series «Stranger Things,» dropped a bombshell regarding the highly anticipated Season 5. During her appearance on The Jonathan Ross Show, Brown disclosed that the production of Stranger Things Season 5 still has nine months left to go, hinting at a potential delay in its release.

Top hedge funds and private equity firms including Citadel, KKR & Co. and Blackstone Inc. are discussing ways to blunt penalties by the Securities and Exchange Commission stemming from their use of disappearing messaging apps.

The wealth industry is standing at a crossroads as advisors balance hopes for growth and enhanced client service through technology against challenges and barriers to adoption of technology, according to a new study from Orion.

Investing.com — Adobe reported Thursday softer-than-expected guidance on a key revenue metric for the current quarter, adding to concerns that rising competition is stifling growth.   

India’s electricity consumption is growing at nearly 9% per year, faster than real gross domestic product (GDP). That is understandable, since economic growth involves rapid urbanization, which is electricity- intensive. It is also possible that in the near-term, GDP growth has higher energy intensity beyond electricity.

The board scandal that employees of OpenAI now call “The Blip" now threatens to live up to its nickname. The company recently announced the findings of an independent legal review of CEO Sam Altman’s firing last November and framed the result as exonerating its actions, largely. OpenAI’s new board “expressed its full confidence" in Altman’s leadership based on the law firm’s analysis.

The possibility of allowing longer mortgage amortizations has come up repeatedly in Canada over the years, with regulators and lawmakers generally taking a conservative approach and pushing in the opposite direction. But with housing affordability at crisis levels, is it finally time for Canada to embrace mortgages of 30 years and beyond? The Financial Post’s Denise Paglinawan explores the issue.

By Allan Lanthier

Shortly after he was elected Canada’s 23rd prime minister, Justin Trudeau gathered the country’s top pension officials in a conference room in downtown Toronto for a roundtable discussion on infrastructure. To most in attendance that day in November 2016, the government’s intention was clear.

Payne Capital Management President Ryan Payne weighs in on the U.S. economy, arguing that purchasing power will continue to ‘strengthen’ for the American people.

capital expenditure and subsidy pay-out. The savings could mainly come from the subsidy bill on account of softening fertiliser prices, under-utilisation of funds by states, including for their capital spending and interest from states on money parked in single nodal agency accounts, a senior official told ET. The government, in the budget presented last month, had revised its 2023-24 expenditure estimate to ₹44.90 lakh crore from the previously budgeted ₹45.03 lakh crore. Any unspent amount from the revised estimate, backed by improved tax collections, could help the Centre further trim its fiscal deficit from the budgeted 5.8% of gross domestic product unless there is some last-minute adjustment necessitating an additional outgo, the official said.

Adhir Ranjan Chowdhury, the sole Opposition representative in the search panel that selected the two election commissioners, expressed his dissent by pointing out "procedural lapses" in the selection process. He has questioned the rationale and motive of the government in providing him a list of «212 names» as probable candidates when he arrived at Wednesday midnight in Delhi and then handing him over a shortlist of «six names» just «10 minutes before the search committee meeting» on Thursday noon. In his note of dissent, Chowdhury is learnt to have questioned the rationale and fairness of the composition of the search committee by saying it ensured «no decisive say» for the sole Opposition nominee in the matter of selection as the overwhelming majority of the government representatives in the panel made the ruling side's preference «a fait accompli». During the meeting, Chowdhury is also learnt to have briefly mentioned his disappointment about the government not including the Chief Justice of India in the search committee. He reportedly pointed out that no reason has been provided for the abrupt resignation of election commissioner Arun Goel a few days ago and also the delay in filling up the second vacancy of the EC, caused by the retirement of the incumbent last month.