Waves Financial News

Trinamool Congress and CPI(M) were divided over Sunday's assembly poll results with the former blaming the Congress while the Left party stood by Rahul Gandhi. The Trinamool Congress claimed that the BJP's victories in Rajasthan, Madhya Pradesh and Telangana were more of a failure of the Congress than a success story of the saffron party.

Stocks were down yesterday, but a $6.5 billion buy imbalance sent S&P 500 screaming higher into the close. Yesterday was month end, which can create large buy or sell imbalances. Generally speaking, the quarter ends generate enormous imbalances, but yesterday’s was almost equal to larger, driving the market higher in the final 30 minutes of trading.

Madhya Pradesh and Rajasthan, and holding a notable advantage in Chhattisgarh. Simultaneously, the Congress appeared poised to unseat the ruling party in Telangana. As Assembly Election Results 2023 were tallied for the four states, trends on the Election Commission's website show a pro-incumbency wave in BJP-led Madhya Pradesh, contrasting with an anti-incumbency sentiment in the Congress-governed states of Rajasthan and Chhattisgarh.

By Yasin Ebrahim

Pakistan surged 34 per cent in November, with 63 militant attacks recorded in the country during the month, a think-tank report said on Sunday. The 63 militant attacks in November resulted in 83 deaths, including that of 37 security forces personnel and 33 civilians, the Dawn newspaper reported, citing data by the Pakistan Institute for Conflict and Security Studies (PICSS) think tank. Additionally, 89 individuals, including 53 civilians and 36 security forces personnel, sustained injuries, according to the Islamabad-based think tank.

earthquake that shook the southern Philippines killed at least one villager and injured several others as thousands scrambled out of their homes in panic and jammed roads to higher grounds after a tsunami warning was issued, officials said Sunday. The U.S. Geological Survey reported that the quake Saturday night had a magnitude of 7.6 and struck at a depth of 32 kilometers (20 miles).

surging bull market is undeniable. The thrill of surging stock prices is not only in witnessing sky-rocketing portfolio returns, but also in getting the vindication in the underlying investment theses. Who wouldn’t welcome the excitement of a bull market? However, there’s a catch. While it’s a common tendency to view downcycles as emotionally draining experience, the same emotional complexity often gets oversimplified or outrightly ignored when it comes to upcycles.

Telangana Assembly, party leader Renuka Chowdhury said that Bharat Rashtra Samiti (BRS) leaders are in touch with the grand old party. On being asked if BRS leaders are in touch with the Congress party, Renuka Chowdhury told «Of course! Today's politics is like that. They are in touch with us. Sometimes they take away ours (MLAs), and sometimes theirs come here.» Latest trends show Congress inching closer to the halfway mark in Telangana, leading on 58 seats while BRS is leading on 33, BJP on 7 and CPI on 1. «I had been saying for more than a year because we tapped into the pulse of the public.

Indian equity market has witnessed an astounding surge in IPO activity, defying global economic uncertainties and underscoring the resilience of the Indian economy. Post the 2020 Covid crash, Rossari Biotech initiated the wave of IPOs, witnessing overwhelming subscription and listing success. This event paved the way for numerous IPOs, demonstrating the robustness of Indian equity markets and attracting investments from various segments, including fervent participation from HNIs and retail investors. Over the past three years, the main board IPOs have displayed remarkable strength. In 2021, 63 companies went public, raising Rs 1.2 lakh crore. Despite global market challenges, 2022 witnessed 40 IPOs, accumulating Rs 60,000 crore. As of November in 2023, 48 companies have already gone public, raising more than Rs 45,000 crore. This IPO surge extends to the SME space as well, with 2023 breaking records with 156 IPOs, raising more than Rs 4,200 crore. The increasing average ticket size in SME IPOs, from Rs 13 crores in 2021 to Rs 18 crore in 2022 and Rs 25 crore in 2023, indicates that promoters are seeking larger capital to fuel their growth ambitions, and investors are responding positively to these opportunities. The active participation of retail investors has been a key driver of this IPO boom, often resulting in massive oversubscriptions. This reflects a growing appetite for equities among retail investors and a heightened confidence in the Indian economy.

Ranbir Kapoor's latest action thriller, 'Animal,' has sprinted past the Rs 100 crore milestone at the Indian box office within a mere two days of its theatrical debut and has even beaten the collections of 'Gadar 2' and 'Tiger 3' in North America. The Sandeep Reddy Vanga directorial, featuring a stellar cast including Rashmika Mandanna, Anil Kapoor, Bobby Deol, and Triptii Dimri, is creating waves with its impressive collections and has joined the ranks of speedy successes like 'Pathaan' and 'Jawan.' On its opening day, 'Animal' seized the spotlight by surging past Shah Rukh Khan's 'Pathaan,' raking in a staggering Rs 63.8 crore in India alone.

The DeFi ecosystem has been agog with the launch of Ethereum’s Layer 2 project, Blast”, which aims to eradicate issues relating to speed, cost, and scalability. While the market is still basking in excitement, Meme Moguls, currently undergoing its presale, is tapping into the wave, pulling more crowd and attention to is projected which promises exciting rewards. Let’s find out what Ethereum’s Layer 2 Blast is all about and why Meme Moguls (MGLS) is making waves.

world cup final frenzy did not help the month register more passengers than November 2019. In the end, the traffic this year was 2% lower than the traffic in November 2019. This makes November the only month in 2023 when the traffic dropped below the corresponding month in 2019.

TD Bank Group said it’s cutting three per cent of staff and setting more money aside for souring loans as it reported fourth quarter results that reflect a deteriorating economic picture.

Terminator remake starring Margot Robbie and Henry Cavill, leaving fans puzzled and eager for details. The satirical nature of these posters, proven fake and originating from a humorous Facebook page known for such creations, stirred a wave of misinformation.

JPMorgan Chase equity strategists continue to stand apart with a notably pessimistic outlook amid a wave of Wall Street strategists forecasting all-time highs for U.S. stocks in the coming year.

Stocks had a nice rally to the start day yesterday. The S&P 500 index rallied a bit more than 70 bps, but by the day’s end, all of those gains were gone, with the index finishing lower by around 10 bps. It was a bit worse on the Nasdaq with the index up nearly 1% at the open only to finish down by around 20 bps.

By Sam Nussey and Miho Uranaka

Another senior executive has left the wealth management group at Wells Fargo & Co., the giant bank that has been overhauling its financial advice business since Charlie Scharf took the reins as CEO in 2019.

It has been an interesting two years since the S&P500 struck its all-time high at $4818 on January 4, 2022. Although the Bears feel pretty beat up by now and the Bulls invincible (the latest weekly AAII reading stands at only 24% Bears and a whopping 45% Bulls) remember the Bulls have so far been the losers. So, if you are a Bear and have lost money, please examine your entry and exit strategies. Namely, this has been a tough market for everyone, as many probably sold longs and/or covered shorts too late. Market participants have been so conditioned to trending markets since at least 2009 and possibly as early as 1974 (!) that many have forgotten, or may never have experienced, that sideways is an option, too. The main winners since the ATH are those who stayed nimble, took (partial) profits, and raised stops prudently.

In 2023, Optimism (OP), Toncoin (TON), and Rebel Satoshi ($RBLZ) are highlighted as the best cryptos to invest in, offering promising returns for investors. While Optimism has surged following Blockchain.com’s listing, Toncoin has performed well recently. Meanwhile, Rebel Satoshi has emerged as an exciting alternative for investors. Let’s find out which coin will boost investors’ portfolios.