Week Financial News

PM Modi will inaugurate the first Hindu temple in Abu Dhabi on February 14. "The inauguration programme of BAPS temple is one of the key parts of PM Modi's UAE visit...," Foreign Secretary Vinay Mohan Kwatra said on Monday. Besides this, the Prime Minister will also address the Indian community in the UAE at an event in Zayed Sports city in Abu Dhabi.

markets. Brent crude futures were down 54 cents, or about 0.7%, at $81.65 a barrel, while U.S. West Texas Intermediate crude futures slipped 32 cents, also about 0.4%, to $76.52 a barrel at 1426 GMT.

markets subdued the start of what could turn into a busy week, with all eyes on U.S. inflation data for clues on when the Federal Reserve may start to cut rates. The euro was down 0.14% $1.0769, edging off a 10-day high touched in early trading after the past week saw a small bounce back following steady declines in 2024. A reading of the euro zone's economic growth in the fourth quarter on Wednesday could offer fresh direction.

Paytm Payments Bank Ltd (PPBL), the Reserve Bank will issue a set of FAQs (Frequently Asked Questions) this week. «Wait for FAQ that will have a set of clarifications related to customers of PPBL as our priority is customers should not be inconvenienced. Customer interest and depositors interest is uppermost for us,» RBI Governor Shaktikanta Das said after the Finance Minister's customary address to the central bank's board. In a major action against Paytm Payments Bank (PPBL), RBI, on January 31, directed it to stop accepting deposits or top-ups in any customer accounts, wallets, FASTags and other instruments after February 29. Asked if the deadline of February 29 would be extended, Das said, «Wait for the FAQ.

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Zomato shares experienced a notable surge of 6 percent during morning trading on February 12, reaching a fresh 52-week pinnacle of ₹158.80 on the National Stock Exchange (NSE). This surge propelled the stock closer to its record peak of ₹169, attained on November 16, 2021. The upswing follows Zomato's impressive financial performance, with the Gurugram-based food aggregator reporting a consolidated net profit of ₹138 crore for Q3FY24, a significant turnaround from the net loss of ₹347 crore in the corresponding period of the previous fiscal year.

Investing.com -- U.S. stock futures were little changed on Monday, with markets taking some caution ahead of a week of major economic data and company results. Elsewhere, rivals Diamondback (NASDAQ:FANG) Energy and Endeavor Energy Resources are reportedly closing in on a merger that would give the combined entity a massive presence in the Permian Basin, a key U.S. production hub.

Crude oil has started Monday on a slow note following a highly volatile last couple of weeks when losses of more than 7% were recouped from one week to the next.

By Shubham Batra and Khushi Singh

LONDON (Reuters) — The dollar was steady on Monday as a holiday in most major Asian markets subdued the start of what could turn into a busy week, with all eyes on U.S. inflation data for clues on when the Federal Reserve may start to cut rates.

By Sudarshan Varadhan

Medanta hospital brand jumped 14% to hit a fresh 52-week high of Rs 1,448.45 on the NSE on Monday. They have extended gains to 20%, remaining unbeaten over five consecutive sessions. The rally has been more pronounced since the company announced its December quarter earnings on Thursday where it reported a consolidated profit after tax (PAT) of Rs 123.50 crore which was up by 53% year-on-year (YoY). PAT margins increased from 11.4% in Q3 FY23 to 14.5% in Q3 FY24, the company filing said.

Hero MotoCorp and Coal India. Nifty declined 0.3 per cent in the previous week and formed a "Doji" candlestick formation on the weekly chart, indicating indecisiveness among market participants. According to Axis Securities, the chart pattern suggests that if Nifty crosses and sustains above the 22,000 level, it would witness buying, leading the index towards 22,150-22,300 levels.

Hard Sell The bosses at the Indian outpost of this multinational giant have been trying really hard to sell a ritzy property that used to belong to this tycoon who’s proven hard to get (to India) for the past seven-eight years. He’s currently dodging regulators for some apparently serious misconduct. Anyway, the company got ownership of the pile when they took over most of the tycoon’s business. But here’s the kicker: nobody wants it! Despite its posh location in south Mumbai, potential buyers are giving it a wide berth. Local brokers are whispering that folks are spooked by what they say is its jinxed history. Maybe. Or, is the tycoon pulling the strings from across the seas? ETA Awaited A high-flying minister was recently irked by the pace of a critical project. The government wants it completed quickly but the squabbling between the two parties building the facility threatens to slow things down even more. The minister’s irritation was barely concealed at a recent meeting as he asked tough questions and made clear his impatience with the answers. Here’s hoping the words landed and the project takes off soon.

Investing.com-- Oil prices fell in Asian trade on Monday as investors locked in some profits after stellar gains over the prior week, with focus now turning to any more developments in the Israel-Hamas war and cues from key industry reports. 

Gold prices were flat on Monday in holiday-thinned trading, after falling last week on rising bond yields, while investors awaited remarks from U.S. Federal Reserve officials in a data-packed week. FUNDAMENTALS

Oil prices fell in early Asian trade on Monday after Israel said it had «concluded» a series of strikes in southern Gaza, slightly easing concerns about supply from the Middle East. Brent crude futures were down 43 cents, or 0.5%, at $81.76 a barrel, while U.S. West Texas Intermediate crude futures were 46 cents, or 0.6% lower, at $76.38 a barrel at 0135 GMT.

Stocks on Wall Street closed higher on Friday to notch another winning week as the S&P 500 ended above the key 5,000-point level for the first time ever amid an ongoing rally in mega-cap tech shares.

Here is your Pro Recap of the top takeaways from Wall Street analysts for the past week: upgrades for Li Auto and Enphase Energy, downgraded for GlobalFoundries, American Express, and Albemarle.

Investing.com — Tuesday’s U.S. inflation figures will be in focus as markets look for clues on the timing of interest rate cuts from the Federal Reserve. Earnings season continues, oil prices look set to remain choppy, while the UK and Japan are to release what will be closely watched economic data. Here’s what you need to know to start your week.

Investing.com — Here is your Pro Recap of the upcoming major earnings reports next week: Coca-Cola, Airbnb, Cisco Systems, and Coinbase.