Weekly Financial News

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BSE Sensex reported it longest weekly winning streak in three years, as it rallied to record high levels on the back of strong macroeconomic data, a drop in oil prices and the hawkish rate pause by the Reserve Bank of India (RBI). On the stock-specific front, 63 Moons Tech, Inox Wind, Cantabil Retail, Asian Energy Services, SpiceJet, KIOCL, RBL Bank, Raymond, Reliance Power, Balaji Telefilms, TV 18 Broadcast, HBL Power, Zee Media Corp, Home First Finance, Bharat Dynamics, and others are among the smallcaps that logged a double-digit rise in their share prices last week. Domestic equity benchmarks gained for sixth straight week as the NSE Nifty 50 and S&P BSE Sensex indexes rose about 3.5 per cent to log their best week since July 2022.

rupee closed slightly lower on Friday, tracking subdued moves in its Asian peers, as investors turned their attention to a crucial U.S. labour market report due later in the day. The rupee ended at 83.3850 against the U.S.

By Paul Carsten

WASHINGTON (Reuters) — The number of Americans filing new claims for unemployment benefits increased less than expected last week as the labor market continues to gradually slow amid cooling demand.

The S&P 500 (SPX) recorded its fifth consecutive candle last week (+0.8%), matching the May-June streak. The index is now testing the 2023 highs around 4600. A break above this level would pave the way towards the record highs around 4800 while a failure would increase the risk of a double top pattern.

The S&P 500 (SPX) recorded its fifth consecutive candle last week (+0.8%), matching the May-June streak. The index is now testing the 2023 highs around 4600. A break above this level would pave the way towards the record highs around 4800 while a failure would increase the risk of a double top pattern.

ChatGPT. Aside from the OpenAI’ celebration, we also witnessed WhatsApp banning nearly 75 lakhs in India. Here is weekly tech wrap up from this week.

₹6,231 per bbl, having swung between ₹6,210 and ₹6,409 per bbl during the session, against a previous close of ₹6,281 per barrel. Also Read: Stock Picks: ONGC, Oil India among top picks for Motilal Oswal in upstream sector, Indian Oil among OMCs -OPEC+ producers agreed on Thursday to remove around 2.2 million barrels per day (bpd) of oil from the global market in the first quarter of next year, with the total including a rollover of Saudi Arabia and Russia's 1.3 million bpd of current voluntary cuts.

Investing.com — Here is your Pro Recap of the biggest insider trades and institutional investor headlines you may have missed this week: Walt Disney turns down Trian request for Board representation, Elliott takes $1 billion stake in Phillips 66 and seeks board seats, and top brass buys at Arbor Realty Trust , Agilon Health, and 3D Systems.

Investing.com — Oil prices fell for a sixth-straight week Friday, as voluntary output cut agreements from major oil producers that fell short expectations continued to keep worries about oversupply front and centre. 

Last week brought several major developments on the crypto regulation front. Binance founder Changpeng Zhao pleaded guilty to criminal charges in the U.S. and now faces up to 10 years in prison. Meanwhile, Grayscale submitted an updated prospectus for converting its Bitcoin Trust into a spot ETF, fueling hopes that approval may be close. Overseas, Singapore announced tighter regulations to protect crypto consumers, including banning crypto ads and incentives. Finally, ECB President Christine Lagarde revealed her son lost most of his crypto investments, reinforcing her skeptical stance.

S&P 500 (SPX) recorded the fourth consecutive weekly close higher last week, ultimately closing at the highest level since July. It also marks the longest weekly run since June.

S&P 500 (SPX) recorded the fourth consecutive weekly close last week, ultimately closing at the highest level since July. It also marks the longest weekly run since June.

ERShares CEO Joel Shulman joins ‘Mornings with Maria’ with his market outlook ahead of next week’s earnings.

Bitcoin (BTC) held near $38,000 into the Nov. 26 weekly close as traders boosted their BTC price optimism.

Sam Altman was finally reinstated as the CEO of OpenAI while the board that removed him was all but let go with the exception of Quora CEO Adam D'Angelo. In a post on X (formerly Twitter), OpenAI wrote, “We have reached an agreement in principle for Sam Altman to return to OpenAI as CEO with a new initial board of Bret Taylor (Chair), Larry Summers, and Adam D'Angelo. We are collaborating to figure out the details.

BSE Sensex logged its third successive weekly gain, supported by auto and pharma sectors. On the stock-specific front, Munjal Auto, Summit Securities, Talbros Auto, 63 Moons Tech, Tata Investment, GE Power India, PCBL, Titagarh Railsystems, DCX Systems, Railtel Corporation of India, Jindal Stainless, SpiceJet, MSP Steel & Power, Texmaco Rail, and others are among the smallcaps that logged a double-digit rise in their share prices last week. Markets consolidated in a narrow range and ended marginally higher, taking a breather after the recent surge.

₹6,338 per bbl, having swung between ₹6,330 and ₹6,436 per bbl during the session, against a previous close of ₹6,374 per barrel. -The first group of hostages freed from captivity in Gaza returned to Israel on Friday, on the first day of a planned four-day truce during which further exchanges of hostages for Palestinian detainees are due to take place.

gold closed with a weekly gain of nearly 1.10% at $2002.85 as traders look forward to a possible Fed pivot. The metal gained 0.60% Friday. S&P Global US PMI data was released Friday. US manufacturing PMI (November preliminary) at 49.40 trailed the forecast of 49.90, however, services and composite PMI at 50.80 and 50.70, respectively topped the respective estimates of 50.30 and 50.40.

Celestia (TIA) was one of the few tokens with a triple-digit price surge in November 2023. As a result, the token made it to most investors’ lists, and TIA is still on its bullish trajectory. Similarly, savvy investors are rushing to buy BorroeFinance ($ROE) tokens at the tail end of its second presale stage. Keep reading to see expert forecasts and opinions on these tokens.