Week Financial News

Buy or sell stocks: Despite cautious sentiments in the global market, the Indian stock market ended higher for the second straight session on Friday. Nifty 50 index added 52 points and closed at the 21,710 level, and BSE Sensex regained the 72,000 mark by adding 178 points in the last session of the week gone by. However, the Bank Nifty index went off 36 points and finished at 48,159 level.

California coast this week and are galvanized by the powerful pattern of El Niño in the Pacific Ocean. The recent event is unexpected to be as pronounced as the waves, expanding the California coast in the past week. However, the huge waves are happening more often as per researchers, since global warning expands severe weather conditions, elevating sea levels. As per them, it translates to more coastal flooding at a future date. A swell along with big waves and also coastal flooding is predicted along the West Coast this week. Afterwards, a periodical high tide can bring an even greater amount of water inshore within 10 days, as per Laura Engeman, who is a coastal resilience specialist with California Sea Grant. According to her in the case there are big waves during those days, we might witness more flooding. The recent round of waves is not predicted to be as powerful as the late event in December. It is the future El Niños as well as the rise in coastal flooding, charged by the warm climate that caution those who have studied the coast. El Niño comes with more active winter storms, and elevated sea levels according to an oceanographer at the National Oceanic and Atmospheric Administration, William Sweet. This translates to more flooding in coastal areas, greater amount of extreme erosion, and higher astronomical high tides.

Social media users shared a range of false claims this week

companies are unlikely to have much to cheer about in 2024 if early funding figures are anything to go by. Investments in startups in the first week of 2024 dropped by about 88% from the same period a year ago, totalling $35.8 million across eight deals. In volume terms, deals were down 86% from 59 a year earlier.

antitrust chief Margrethe Vestager will meet the chief executives of Apple, Alphabet, Broadcom and Nvidia in the United States next week, her communications advise said on Friday. The meetings come a month after Vestager resumed her job following her failed bid to head the Luxembourg-based European Investment Bank, with antitrust experts expecting her to show a tougher line towards companies in both merger and competition investigations.

A major incident has been declared in Nottinghamshire along the banks of the River Trent, where more than 100 homes have been flooded, with the potential for the numbers to rise throughout the day. Neil Clarke, leader of Rushcliffe Council in Nottinghamshire, emphasized on BBC Radio 4's Today program that while water levels on the River Trent were starting to recede slightly, the situation remained grave.

Narayan Murthy refuses to back down from his contentious views regarding work-life balance. The Infosys co-founder, who created an uproar last year for suggesting that the millennial and Gen Z employees should work for at least 70 hours a week so that the Indian economy could progress, doubled down on his views in a recent interview with CNBC-TV18. Referring to his controversial statement, the billionaire pointed out that if farmers and factory workers could dedicate themselves to work, so can employees hailing from the middle class. He also claimed that hard work is ingrained in the Indian culture, since many people take up jobs that are physically demanding.

Delhi Winter: Cold is expected to persist in Delhi for the next three days as the city recently witnessed its coldest day conditions in two years. A layer of lifted fog throughout the day, coupled with frosty northerly winds, contributed to the chill, with the maximum temperature at Safdarjung plummeting to 12.5 degrees Celsius, marking a 'severe cold day' as per the Indian Meteorological Department.

By Johann M Cherian and Shristi Achar A

PayPal Holdings (NASDAQ:PYPL) stock experienced a drop in pre-market trading following a second analyst downgrade this week.

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Penny stock under ₹10: Shares of East West Holdings Ltd are one of those rare penny stocks of the Indian stock market, which is backed by foreign institutional investors (FIIs). Mauritius-based FII AG Dynamics Fund holds the majority of FIIs' stake in this penny stock under ₹10. The FII holds a 6.78 per cent stake in this small-cap stock under ₹10.

Reliance Power have given exceptional returns in the last 3 years. The stock has surged from ₹3.3 in January 2021 to currently trade at its 52-week high of ₹33, soaring as much as 900 percent in these 3 years. The stock has also given multibagger returns in the last 1 year, jumping 114 percent.

₹62 to ₹66 apiece, as per primary market expert. New Swan Multitech IPO will open for subscription Thursday, January 11, and will close on Monday, January 15.

Investing.com — The U.S. dollar gained in early European trade Friday, on course for its strongest week since July ahead of the release of the widely-watched monthly official jobs report.

CNBC-TV18, Infosys founder N.R. Narayana Murthy reaffirmed his advocacy for a 70-hour work week, defending his stance amidst considerable public debate.

IRCTC share price: Shares of Indian Railway Catering and Tourism Corporation (IRCTC) have been on an uptrend after ushering in November 2023. IRCTC's share price bottomed out at ₹645 apiece levels at the end of October 2023. After that, it has been ascending continuously and hitting a new 52-week high regularly.

Alok Industries rallied almost 16 percent in trade on Friday, spiking for the 3rd time this week, after Reliance Industries invested ₹3,300 crore in the company by subscribing to preferential shares. The stock jumped as much as 15.8 percent to its 52-week high of ₹31.45. Before this, it rose 7 percent on January 3 and hit its 20 percent upper circuit on January 2 (when the announcement was made).

NHPC share price jumped 8.5% to touch 52-week high on Friday's session after the Central Electricity Regulatory Commission's (CERC) announcement of the Draft Tariff Regulations for 2024–2029, which increased the ROEs for pumped hydro storage and run-on rivers with pondage from 16.5% to 17%, according to brokerage ICICI Direct Research. The NHPC share price today opened at an intraday low of ₹70.10 apiece and touched an intraday high of ₹75 apiece on BSE.

By Kevin Buckland

By Ankur Banerjee