UPS Financial News

A rare call for a general strike in Israel to protest the failure to return hostages held in Gaza led to closures and other disruptions around the country, including at its main international airport

What happened to gold and silver last week? What’s the outlook for these commodities this week? And how might the Fed's actions impact gold in the near future? ET Markets discussed these questions with Naveen Mathur, Director of Commodities & Currencies at Anand Rathi Shares and Stock Brokers, in this week's ET Commodity Talk. Excerpts: Gold and silver plunged on Friday amid a rebound in the dollar index and the U.S. bond yields. Can you sum up last week's commodities? Naveen Mathur: Data released Friday showed the Fed's favored inflation measure, the core PCE deflator, came in at 0.2% month-on-month, the year-on-year remained at 2.6% rather than rise to 2.7% as the consensus predicted. A 0.2% MoM reading keeps inflation on the correct run-rate to get annual inflation to 2% by early next year which is the US Feds target This along with robust consumer spending numbers & declining real disposable income indicated a decline in the personal savings rate. Overall it makes the case for only a 25 bps rate cut in September as it made gold pared all its gains last week.

Cabinet on Monday gave nod to seven decisions focused on boosting farm-related activities in India, Union Minister Ashwini Vaishnaw announced, while addressing a press conference. While announcing the key decisions, Vaishnaw said, «Today, Seven major decisions have been taken in the cabinet meeting for improving the lives of farmers and increasing their income...The first is Digital Agriculture Mission. This is being developed on lines of the structure of Digital Public Infrastructure for agriculture. A few good pilot projects have been taken up and we have achieved success. On that basis, with a total investment of Rs 20,817 Crores, Digital Agriculture Mission will be set up...» Here are the major decisions taken by Prime Minister Modi-led Cabinet:

IL-76 aircrafts from Halwara and Bhatinda to airlift more than 200 NDRF personnel and tons of relief material to Vijaywada and Shamshabad to help aid the NDRF efforts in Andhra Pradesh, confirmed the Indian Air Force Media Co-ordination Centre on Monday. In a post on X, the Indian Air Force confirmed that the two aircrafts were used to airlift 242 NDRF personnel and 30 tons of relief materials for the state and multiple helicopters are also on standby. «Late last evening, @IAF_MCC swiftly responded to the call for augmenting NDRF effort. Two IL-76 aircraft took off at dawn from Halwara and Bhatinda, airlifting 242 NDRF personnel and 30 tons of relief material to Vijayawada and Shamshabad. Helicopters are also on standby in the affected areas, ready to provide further assistance.» the post read. Earlier today, Chief Minister Chandrababu Naidu inspected the flooding situation in various areas of Vijaywada.

Khammam (Telangana): Unprecedented widespread rainfall for the past couple of days has caused great deal of difficulty to the people to the people of Khammam district. Khammam District Collector Muzammil Khan has described the floods as «unprecedented» and one that was not witnessed in the region for the last 30 years «We are experiencing severe floods in our district unlike in the past 30 years because of the 200mm rains. I appreciate all the work taken up by the officials, public representatives and others over the past 2 days. We could save many lives because of this,» said Muzammil Khan while speaking to ANI.

«We do not see any major upheaval in either direction negative or positive in the second half. Earnings are probably the most stable we have seen in the last two or three years,» says Seshadri Sen, Emkay Global Financial Services. Well, I am just going through your latest note and it seems like you have raised your target for the Nifty all the way to 26,000 now for September 25. Earlier it was close to 22,000 for June 25. Is it just the market momentum that has made you change it because we are very close to that mark already or do you see a further uptick in the fundamentals versus what you anticipated earlier? Seshadri Sen: No, the primary driver is that there were a few speed bumps that we were anticipating in the first half and those played out. The market through those speed bumps quite strongly. But we are looking at a much smoother ride in the second half in terms of fundamentals which is why we raised our multiple and that cascaded into a raised Nifty target.

Bharat Electronics Ltd. fell 1.26 per cent to Rs 295.6 in Monday's trade as of 01:18PM (IST) even as the benchmark Nifty ruled at 25257.2, up 21.3 points. The scrip had closed at Rs 299.4 in the previous session. The stock quoted a 52-week low of Rs 127.0 and a high of Rs 340.35. The company quoted a market-cap of Rs 215930.87 crore on the BSE.

The company reported a narrower consolidated net loss of Rs 57 crore for the quarter ended June 30, 2024, from Rs 90 crore reported by the company in the year-ago period.

China’s property crisis has hit local governments hard, drying up a key source of income as land sales crumble. Fiscal reform plans have sparked hope relief is on the way, but economists see little progress. Cash-strapped and indebted, regional governments are seeking alternative revenue streams to compensate for falling land and tax income.

Vedanta Ltd. fell 1.16 per cent to Rs 462.8 in Monday's session as of 01:29PM (IST) even as the equity benchmark Sensex traded 109.58 points higher at 82475.35. Earlier in the day, the stock witnessed a gap up start to the session. The stock quoted a 52-week high price of Rs 506.85 and a 52-week low of Rs 207.85 on NSE. Around 294664 shares changed hands on the counter till 01:29PM (IST).

Bank of Baroda traded at Rs 250.3 on BSE at 01:24PM (IST) on Monday, up 0.05 per cent from previous close. The scrip quoted a 52-week low price of Rs 186.45 and a high of Rs 298.45.

Artificial intelligence is beginning to allow many employers to automate functions long performed by human workers

Aadhaar free update, new credit card rules, special FDs, Rupay cards: 9 rule changes and deadlines in September 2024 After the revision, the bank will offer FD interest rates between 3% and 7.25% for tenures between 7 days to 10 years for deposits of less than Rs 3 crore for general citizens.

Kerala Congress leader Simi Rose Bell John was expelled from the party, BJP spokesperson Shehzad Poonawalla said on Monday that Congress, instead of getting the matter investigated, expeller a leader who were fighting for women. In a self-made video posted on X, Ponnawalla questioned Congress leader Priyanka Vadra, «Will she stand up for Simi Rosebell John or will she keep quiet? »The Hema Committee report in Kerala has revealed many secrets. Left MLA Mukesh has also been seriously accused of sexual abuse and rape. The Communist Party of Kerala does not do anything about this but the Congress has shown its anti-women face. Party's senior leader Simi Rosebell John only said that casting couch like thing happens in Kerala Congress too where women are exploited. So the Congress fired her instead of getting it investigated," he said.

far-right Alternative for Germany won a state election for the first time Sunday in the country’s east, and was set to finish at least a very close second to mainstream conservatives in a second vote, projections showed.A new party founded by a prominent leftist also made an immediate impact, while the parties in Chancellor Olaf Scholz’s unpopular national government obtained extremely weak results.Projections for ARD and ZDF public television based on exit polls and partial counting showed Alternative for Germany winning 32-33% of the vote in Thuringia — well ahead of the center-right Christian Democratic Union, the main national opposition party, with about 24%.In neighboring Saxony, projections put support for the CDU — which has led the state since German reunification in 1990 — at 31.7%, with AfD on 30.6-31.4%.“An openly right-wing extremist party has become the strongest force in a state parliament for the first time since 1949, and that causes many people very deep concern and fear,” said Omid Nouripour, a leader of the Greens, one of the national governing parties.Other parties say they won’t put AfD in power by joining it in a coalition. Even so, its strength is likely to make it extremely difficult to form new state governments, forcing the parties into exotic new coalitions.

HDFC Asset Management Company Ltd. rose 0.46 per cent to Rs 4442.0 in Monday's trade. It hit an intraday high of Rs 4478.95 and low of Rs 4405.85, respectively, during the day. The stock quoted a 52-week high price of Rs 4527.95 and low of Rs 2418.0.

Sikko Industries Ltd.(up 5.00%), Bohra Industries Ltd.(up 4.98%), Gujarat State Fertilizer & Chemicals Ltd.(up 3.47%), Deepak Fertilisers & Petrochemicals Corporation Ltd.(up 2.95%), Chambal Fertilisers & Chemicals Ltd.(up 2.81%), Southern Petrochemicals Industries Corporation Ltd.(up 2.76%), Khaitan Chemicals & Fertilizers Ltd.(up 2.01%), Paradeep Phosphates Ltd.(up 1.57%), Gujarat Narmada Valley Fertilizers & Chemicals Ltd.(up 1.27%) and The Fertilisers and Chemicals Travancore Ltd.(up 1.25%) were among the top gainers.

Dipan Mehta, Director, Elixir Equities, says that typically, after a few quarters of downbeat numbers, you do see an upswing in sugar numbers as well and valuations are reasonable. In markets like this, investors are looking for good quality, low PE stocks, and this is one segment that certainly fits that criteria.

Tim Alper is a British journalist and features writer who has worked at Cryptonews.com since 2018. He has written for media outlets such as the BBC, the Guardian, and Chosun Ilbo. He has also worked...

Raamdeo Agrawal, Chairman & Co-Founder, Motilal Oswal Group, says there is no quick and easy money in the market. There is a very patient money and there are tonnes of it. But it is not quick money. If you want to turn your Rs 1 crore into Rs 10 crore in 10 years, it is possible. But if you want to turn Rs 1 crore to Rs 2 crore in the next year, that is very tough. You might even lose your 1 crore. Buffett has given a template to the world. Buy a good business run by a decent manager at a fair price. Let us take Raamdeo Agrawal’s portfolio versus Rakesh Jhunjhunwala’s portfolio versus Nemish Shah's portfolio versus Prashant Jain’s portfolio – the big investors. All of them endorse Buffett’s philosophy. But there is nothing in common as far as selection of stocks is concerned. Raamdeo Agrawal: Of course. There are so many good companies. So, everybody approaches good stock portfolios. If there are 100 good stocks, some 20-25 will go to Rakesh, another 25 will go to Nemish bhai, and some 15-20 will come to me or like that. It will get distributed. Some overlap is always there.

Asian shares are mixed in cautious trading ahead of the Labor Day holiday in the U.S., when stock exchanges will be closed