Week Financial News

Canara Bank shares exhibited an upward trend for the second straight day, surging by almost 8% to record a new 52-week high of ₹387.80 apiece. At 1:30 PM, the stock was trading with a gain of 6.52% at ₹382.75. This strong uptick in the shares was in response to the bank's impressive September quarter numbers, which were released on Thursday after market hours.

ET Now in 2020, Murthy said, ‘’Indians would have to learn to live with coronavirus for the next 12-18 months, companies will need to take precautions, and overall, Indians would have to put in more work and more hours to put the economy on a track again.'' Also Read: Narayana Murthy pitches for change in India's work culture, says ‘youngsters should work for 70 hours a week if…’ Notably, the comments by the tech leader then came at a time when the first wave of COVID-19 had gripped the country into an economic slowdown. Murthy explained that to pull the Indian economy out of the slump that had resulted from the COVID-19 lockdown, Indians should vow to work longer and harder.

The average rate on the benchmark 30-year home loan rose for the seventh straight week, making a significant hurdle for prospective homebuyers

stock market witnessed significant activity as several BSE 200 stocks reached new 52-week lows on October 26. Investors closely monitored these developments, which indicate the challenges and fluctuations within the market. The data was sourced from StockEdge at 1:15 p.m., and the updates from the real-time data could come with a lag. The below data also pertains only to the time at which it was taken.

Cuscal is expected to fix pricing for its IPO next week, after the payments group’s executives and advisers zipped around the world to sell investors on the company and the coming “infrastructure-like” opportunity.

Benchmark NSE Nifty index fell 262.25 points to 18859.9 amid selling in frontline bluechip stocks. However, stocks such as Godha Cabcon & Insul, SecMark Consultancy, V Mart Retail, Adani Gas and VL E-Governance & IT, touched their fresh 52-week low.

After making a statement on the 10th of October 2023 outlining changes in its operational emphasis, the blockchain technology company Parity Technologies, which is the service provider behind the Polkadot (native token: DOT) blockchain, is said to have let go of more than 300 workers this week. According to a tweet published by Parity Technologies, the firm is «sunsetting its go-to-market functions» in order to make room for more extensive community-driven initiatives amid the expansion of Polkadot's ecosystem.

It took four candidates and just over three weeks, but the U.S. House of Representatives finally has a speaker.

According to a recent report by CoinShares published on Monday, crypto funds have posted a net inflow for the fourth consecutive week, totaling $179 million. While Bitcoin products grabbed the largest slice of the influx, Solana led in altcoin investments, creating a dynamic shift in digital asset inflows.

Entries for InvestmentNews’ Top Advisors 2024 will close this Friday, Oct. 27.

Investing.com — US crude oil stocks rose above the consensus of Wall Street analysts, with an unexpected rise at the federal level and at the storage hub tied to the delivery of contracts traded on the New York Mercantile Exchange, a government report showed Wednesday.

Balkrishna Industries, one of the leading manufacturers of over-the-highway tyres, extended their winning streak for the second consecutive trading session on Wednesday, rallying 2.84% to register a new 52-week high of ₹2,640. This increase in stock price is attributed to the company's Q2 FY24 performance, which came in line with analyst estimates. The company on Saturday reported a net profit of ₹335 crore for Q2 FY24, in comparison to ₹404 crore in Q2 FY23, while revenues came in at ₹2,226 crore, down from ₹2,704 crore.

Domestic benchmark index NSE Nifty ended 159.6 points down at 19122.15, while the BSE Sensex closed 522.82 points down at 64049.06. On the other hand, Welspun Invst, Macpower CNC Machine, Wealth First Port, Welspun India and Kewal Kiran Clo stocks hit their fresh 52-week highs today.

In the quarter, the total revenue stood at Rs 1,364.8 crore, up 2.9% against Rs 1,326.3 crore in the corresponding period of the preceding fiscal. At the operating level, EBITDA declined 20.7% to Rs 53.6 crore from Rs 67.6 crore in the corresponding period in the previous fiscal. Meanwhile, EBITDA margin stood at 3.9% in the reporting quarter as compared to 5.1% in the corresponding period in the previous fiscal. Mahindra Logistics reported a 4% increase in volumes for its MLL Express business during the quarter.

New York Daily News report, the vehicles of Singh and Augustin collided Thursday and both cars sustained dents and scratches. As Singh tried to call 911, a man allegedly said “No police, no police" and took Singh’s phone.

WASHINGTON (Reuters) — The White House will request another supplemental spending package this week to address child care, disaster relief, and other priorities, White House spokesperson Karine Jean-Pierre said on Tuesday.

Coinbase dismisses rumors of a BTC withdrawal limit, stating that these claims do not hold true. Coinbase confirms that such a withdrawal limit policy does not exist. 

XRP (XRP), the cryptocurrency that powers the XRP Ledger first launched by US fintech company Ripple back in 2011, has been pumping this week in tandem with a Bitcoin-led broader rise in the crypto market.

China’s Foreign Minister Wang Yi will visit Washington on Thursday for high-level talks, the US state department has announced, as the two countries try to “responsibly manage” their fraught relations.

Bitcoin jumped on Friday above $30,000 for first time since July, taking gains for the week past 10%, against a backdrop of volatile trading across cryptocurrencies. Bitcoin, the largest cryptocurrency by circulation, climbed as high as $30,022, its highest since July 23. It was last up 4% on the day. There was no immediate news catalyst for the move in bitcoin, said Joseph Edwards, head of research at London crypto firm Enigma Securities. Bitcoin is known for its volatility and the opacity of its markets. The mood across the broader financial markets has also been nervy lately. Investor sentiment has been rattled by war in the Middle East, a rise in benchmark U.S. 10-year yields towards 5% and concern about the prospect of interest rates staying a lot higher for a lot longer.

banks to look at organising a non-resident Indian (NRI) week in January, aligning with the annual Pravasi Bhartiya Divas, to attract more capital from NRI investors and also understand their issues and provide an instant redressal forum. As per the latest data from the Reserve Bank of India (RBI), NRI deposits increased to $2.14 billion in the first quarter of this financial year from $349 million a year ago. «We have made a suggestion to the banks. A conclave like this can be held in Gujarat International Finance Technology (GIFT) City, but it is for the banks to work out the details.