UPS Financial News

dollar was firm on Wednesday and trading on the precipice of the 160 yen barrier as investors turned cautious and counted down to the release of U.S. price data at the end of the week. The euro eased marginally overnight and was steady at $1.0708 in Asia trade. At 159.71 per dollar, the yen's level has markets on alert since that is only a whisker shy of where Japanese authorities likely stepped in to buy yen in April.

Nasdaq rallied 1.3% on Tuesday, buoyed by strength in Nvidia and other tech megacaps, while the Dow slipped as retailers weighed and investors waited for crucial inflation data due out this week. AI chip firm Nvidia climbed 6.8%, bouncing back after a three-session sell-off, and the broader chip sector outperformed with the Philadelphia Semiconductor index adding 1.8%.

Nvidia short sellers have raked in nearly $5 billion in paper profits from the AI chip designer's sharp selloff over the past three sessions, according to data analytics firm Ortex Technologies. The stock has slumped 13% and lost $430 billion in market capitalization since June 18, when it briefly became the world's most valuable company following a meteoric rise.

German automaker Volkswagen Group will invest up to $5 billion in U.S. electric-vehicle maker Rivian as part of a new, equally controlled joint venture to share EV architecture and software, the companies said on Tuesday.

artificial intelligence personal computers is unlikely to trigger a strong replacement demand in India as compared to other countries even as IT hardware makers start flooding store shelves with the next-generation machines, industry experts said. While the ongoing AI revolution has prompted enterprises, education institutes and government organisations to deliberate on using high-performance compute servers for training AI models and developing use-cases, the demand for AI laptops and notebooks — that are priced at a hefty premium to regular PCs — is expected to soar only after their use-cases are established and people start using them, market trackers and industry executives said.

Sensex surged 712.44 points, or 0.92%, to close at 78,053.52, while the Nifty 50 settled 183.45 points, or 0.78%, higher at 23,721.30.“After the last few range bound sessions, investors placed bullish bets on banking and select frontline IT stocks which helped benchmark indices scale fresh highs even as the majority of the sectors ended in red. Most of the private banking stocks had missed the upsurge seen in recent weeks and hence there was a flurry of activity in the financial space ahead of the monthly expiry on Thursday," said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.Also Read: Weekly picks: Motilal Oswal suggests these three stocks to buy today predicting up to 9% upsideHere are key domestic and global market cues for Sensex today:Asian markets traded mostly lower on Wednesday tracking mixed cues overnight from US stocksJapan’s Nikkei 225 rose 0.26%, while the Topix fell 0.17%.

₹169.77 crore—including ₹44.3 crore for the April-December 2023 period and ₹73.47 crore for Q4—for the differential regulatory fee, pending Sebi’s final decision on its request. While BSE declined to comment on the matter, a query to Sebi went unanswered. Notional turnover refers to the total value of an options contract while premium turnover refers to the actual traded value.

Indian stock market: Despite weak global cues, Indian stock market benchmarks, including the Sensex and the Nifty 50, reached new record highs on Tuesday, June 25. The Nifty 50 reached a new all-time high of 23,754.15, while the Sensex also achieved a fresh peak of 78,164.71 during the session.The Nifty 50 concluded the session up 183 points, or 0.78%, closing at 23,721.30, while the Sensex posted a gain of 712 points, or 0.92%, finishing at 78,053.52. Both indices achieved record closing levels.“Nifty steadily inched upwards to make a fresh high of 23,754 levels.

Buy or sell stocks today: Following a rally in the banking stocks, the Indian stock market ended higher on Tuesday. Before ending at the 23,721 mark, the Nifty 50 index touched a new lifetime high for the 34th time in 2024.

Catch all the Lok Sabha Speaker election today LIVE Updates here on LiveMint.Odisha: On Om Birla being nominated as Speaker of the Lok Sabha by NDA, BJD MP Muzibullah Khan says, "... We were expecting pro-tem speaker Bhartruhari Mahtab to be nominated as the Speaker. He is a very experienced leader.

Sensex surged 712.44 points, or 0.92%, to close at 78,053.52, while the Nifty 50 settled 183.45 points, or 0.78%, higher at 23,721.30.Also Read: Indian stock market: 8 things that changed for market overnight - Gift Nifty, Nvidia shares to US consumer confidenceNifty 50 formed a long bull candle on the daily chart, which is indicating a possibility of decisive upside breakout of broader range movement at 23,600 - 23,700 levels. “One may expect upside momentum to pick up in the short term.

F&O ban list: The National Stock Exchange (NSE) has banned trading in four stocks on Wednesday, June26, 2024, in the futures and options (F&O) segment as they exceed 95% of the market-wide position limit (MWPL).However, these stocks will be available for trading in the cash market.The NSE updates the list of securities in the F&O ban for trade every day.F&O ban list todayGNFC, Indus Towers, PNB, and SAIL are the stocks on the NSE's F&O ban list for June26.The National Stock Exchange (NSE) said the derivative contracts in the mentioned securities have crossed 95% of the market-wide position limit and have been placed in the stock exchange's ban period.“All clients/members shall trade in the derivative contracts of said security only to decrease their positions through offsetting positions. Any increase in open positions shall attract appropriate penal and disciplinary action," the NSE statement said.

Read here: Nvidia stock rebounds, lifts Nasdaq higherLast week, Nvidia briefly became the world’s most valuable company, surpassing the market value of Microsoft. The company has positioned itself as the dominant provider of chips to support artificial intelligence applications and have made it emblematic of this year’s tech-driven boom in US stocks.Nvidia stock price is up 154% this year and has accounted for nearly 30% of the S&P 500’s year-to-date return as of Monday’s close, according to S&P Dow Jones Indices, Reuters reported.

JP Morgan index this week, with the pace likely to accelerate once the US starts cutting rates, Standard Chartered Bank's India head of financial markets said. «We have a different profile spread across clients. There are real money clients who may be investing in India off-benchmark. Then there will be the passive index trackers who will be the regular ones coming each month and we may see some large allocations come in intermittently. So, around $2-3 billion per month is what we expect,» Parul Mittal Sinha, head — financial markets, India & co-head, macro trading, ASA, Standard Chartered Bank, told ET.

investors started investing in mutual funds over the last one year, taking the total number of unique mutual fund investors up to 46 million. Many more investors are likely to buy mutual funds in the coming months. Investors have an option to buy and hold their mutual fund units in their demat account or they can buy units from the fund house which does not require any demat account. HOW DO YOU BUY MUTUAL FUND SCHEMES? WHAT IS THE WAY TO HOLD THEM? Once you have chosen a mutual fund scheme to buy, the next step is to proceed to buy these units and execute your transaction. There are a number of ways to buy mutual funds, be it the fund house websites, RTA (registrar and transfer agent) websites, third-party platforms and stock brokers. Investors can opt for a statement of holding, or certain brokerages give you the option to hold units in a demat form. Some brokers only offer MFs in a demat form, while a few offer a mix of the two. Depending on the comfort and ease of an investor one can choose between the two. Investors who buy units in the physical form can later convert them into a demat form, by submitting a request to the depository participant and units bought in demat form can also be rematerialised back again.

equity indices surged to record highs on Tuesday with the Sensex closing above 78,000 for the first time as renewed strength in private banks gave a fresh fillip to the market that had begun showing signs of fatigue after the recent rally. The BSE benchmark ended at 78,053.52, up 712.45 points or 0.92% after hitting its lifetime high of 78,164.71. NSE's Nifty rose 183.45 points or 0.78% to a close at a record 23,721.3. The index hit an all-time high of 23,754.15 during the day.

Foreign and Commonwealth Office (FCO) has issued a warning after more than 14 cases of meningococcal disease were detected in those who were returning from Saudi Arabia after undertaking the Umrah pilgrimage. The Travel Health Pro website which is supported by the FCO listed down these cases and revealed that as of June 21, a total of 5 such cases were reported from the US, four in France, three in the UK and one each in Norway and in the Netherlands. The situation is being monitored by the health authorities in the UK. Invasive meningococcal disease is a significant cause of meningitis and septicaemia. It is a bacterial infection which results in the death in one among ten cases.

Ralph Lauren, the all-American brand, is now, for the ninth time, the outfit designers for the US Olympic and Paralympic participants taking part in the upcoming Paris Olympics 2024, scheduled for July 26 to August 11, this year. This is the ninth time Ralph Lauren has taken up the onus of working on Team USA's outfits and giving it the artistic touch it needs, says an NY Post report.

Amazon India has admitted to workplace safety lapses at its warehouse in the National Capital Region. In its submission to the central labour commissioner, the company accepted that there was a violation of workplace safety standards on May 16, 2024, at its Manesar warehouse and assured the government of a prompt corrective action. In a detailed response to the central labour ministry's query on the matter, seen by ET, Amazon India said one of the employees at the building did lead a small subset of employees and associates in a pledge after both the breaks had been taken, thinking it to be a motivational exercise for the team. «This was an unfortunate and isolated incident, and a clear violation of our workplace safety standards,» it said in a letter submitted to the government. «Prompt disciplinary action has been taken against this employee,» it said. ET has seen Amazon's response to 10 workplace safety and standard related questions raised by the government after reports emerged its employees were forced to take a pledge that they «will achieve the target, and refrain from using the washroom and avoid drinking water.»

Reliance Retail has started the pilot of immediate delivery of groceries and fast-moving consumer goods (FMCG) products in certain areas of Mumbai and Navi Mumbai where orders will be fulfilled within an hour, a senior industry executive told ET. The group's fast-delivery service has been integrated into the Jiomart mobile application as a 'hyperlocal delivery' option. Reliance will try to reduce the delivery time to 30-45 minutes as more stores get linked into the system and the operation expands into other markets, the executive said. According to industry executives, Reliance's shortest delivery time for orders of daily necessities placed online is about 12 hours. Some orders can even take up to three days. An email query sent to Reliance Retail remained unanswered as of press time.

Air-conditioner manufacturers such as Voltas, Daikin and Godrej Appliances are focusing on developing and selling models that can operate at high outside temperatures, some even up to 55-56C, after this year's intense heatwave and instances of poor cooling from ACs especially in North where temperatures crossed 45C in many places. The companies are going to increase the proportion of models in their line-up which can operate above 42-44C. In the North, they plan to offer ACs that can work at 50C and above. The move comes after the average temperatures this summer have been 4-6 above normal in most places, with the eastern and southern regions too recording over 40C in many places. «The industry is looking at developing some models which can live up to the extreme summer temperatures which were recorded this year,» said Pradeep Bakshi, managing director at Voltas, the country's largest AC brand.