Wellness Financial News

Vietnam's president has resigned as the ruling communist party in the latest episode of a “blazing furnace” anti-corruption campaign

Stocks on Wall Street rallied sharply this week, with the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all notching new record highs.

Nike shares tumbled nearly 8% in early trade on Friday after the Air Jordan maker forecast a drop in sales in its first half as it replaces older styles with trendier sneakers in its fight for market share with newer brands. The company plans to trim supplies of classic shoes such as its Air Force 1 and Pegasus, financial chief Matt Friend said on Thursday, to focus on reviving its running shoe category, as well as upcoming launches including its Air Max Dn.

Jai Ram Thakur on Friday claimed that the Congress has been trying to woo back its six rebel leaders, who had cast their votes for the BJP candidate against party lines in the last month's Rajya Sabha polls. Addressing a press conference here on Friday, Thakur said that a piquant situation prevails in the party with rounds of persuasion taking place to bring the rebels back into the fold. The six Congress MLAs had been stripped off their state assembly membership last month. Later the party also removed them from internal posts. They still, however, remain in the party. The six have been camping outside Himachal since their rebellion.

Since the beginning of March, the S&P 500 has been undergoing a nice consolidation, which passed between the day before yesterday and yesterday.

Investing.com-- Bitcoin price weakened in Asian trade on Friday as strength in the dollar, which rebounded sharply to three-week highs, pushed the world’s largest cryptocurrency below $65,000. 

Bharat Dynamics shares saw a 2 percent rise in early trading on March 22 following the company's board approval of a sub-division of its equity shares and announcement of an interim dividend for FY23-24. Bharat Dynamics share price was trading at ₹1,697.60, marking an increase of ₹36.05, or 2.17 percent, on the BSE, in the morning session.

NEW DELHI : Robust investment activity and strong private consumption demand will drive the Indian economy in FY25 amid sluggish global growth, the finance ministry on Friday said in its economic review for February. However, challenges such as the impact of the ongoing crisis in the Red Sea and rising crude oil prices loom over the outlook. "Sustained increases in shipping costs due to disruption can drive up inflation.

Production linked incentive (PLI)’ schemes as well as the drive towards capital expenditure, are measures that have contributed to our growth agenda. Other factors that are driving this momentum include: With continued momentum, India is widely expected to ascend to the ranks of the world's top three economies by 2030, underscoring its emergence as a major player in the global economic landscape. The government’s commitment to reform measures has boosted business confidence among India Inc., which could function as a catalyst to stimulate private investment.

CSK Vs RCB IPL 2024: MS Dhoni stepping down from the captaincy of the Chennai Super Kings (CSK) marks the end of an era. After a successful run as the Indian skipper, MS Dhoni led the IPL franchise to monumental glory and won the championship five times. CSK coach Stephen Fleming described the “emotional" moment in dressing room when MS Dhoni announced that he was handing over the baton to young Ruturaj Gaikwad.

Investors, once eager to pump in billions of dollars in promising Indian tech ventures, are now going slow and cutting smaller cheques. They've been burnt by ignominious falls from grace — and valuations — for once-marquee young firms or market debutants of recent years such as digital payments company Paytm.

Shashank Srivastava, Senior Executive Officer (Marketing and Sales), Maruti Suzuki India Ltd, says: “We could expect the month to end around the 375,000 mark for the industry, that should be about 11% growth over last year. March being the last month of the financial year, we are expecting industry sales to be about 42,35,000 or thereabouts which should be a growth of about 8.8% over last year's figure of Rs 38.9 lakh.” Just going by the kind of comments that we have got from the Minister Nitin Gadkari on lower tax on hybrid vehicles, how are you looking at that getting cheaper soon? What would that potentially mean? Shashank Srivastava: We will have to wait and see how it pans out. At the moment, hybrids are doing pretty well. The duty on hybrids is 43% compared to 5% on EVs. But despite that, hybrids have been doing pretty well. In the last six months, hybrids have been outselling EVs. A total of 52,500 approximately in the last six months against 48,300 for EVs. One of the big reasons why hybrids have been doing well is that there is no range anxiety associated with it.

Consumers showed more confidence in personal financial situations over the next year and the previous year, as well as the general economic situation over the next year compared to February. The future personal financial situation measure was at +2, up from 0 in January and February. The report noted that this was the first positive and highest score since December 2021. Consumer confidence dips for first time in three months Jon Staton, client strategy director at GfK, said the improved personal financial measure is «encouraging» and welcome news considering the «fiscal drag» face...

The volume of goods bought by shoppers last month flatlined at 0%, ahead of market predictions of a 0.4% fall. This unchanged volume follows a 3.6% increase in January. The ONS attributed the flat sales to a rise in clothing sales being offset by drops in food and fuel sales, as well as wet weather. Sales volumes were 1.3% below their pre-pandemic level in February 2020 and the amount spent by consumers fell marginally by 0.1%. UK retail sales jump by highest level since spring 2021 Neil Birrell, CIO at Premier Miton, said UK consumers remain upbeat about personal finances, even wi...

According to a stock exchange notice on Thursday (22 March), the firm bought close to 0.5% of the trust's shares, as well as an additional 4.57% in equity swaps, crossing the 5% threshold on 19 March. Based on Scottish Mortgage's closing price, Peel Hunt has estimated this represents a substantial exposure to SMT of around £607m.  The Delaware-based investment firm, which is known for its activist shareholder campaigns at companies including GSK and Germany's Fresenius, is led by Paul Singer, recognised for his high-profile, and often combative dealmaking. Trust analysts: Alliance ...

Lok Sabha elections, the arrest of Delhi Chief Minister and AAP leader Arvind Kejriwal by the Enforcement Directorate is certainly going to change the electoral math as various opposition leaders are supporting Kejriwal openly. The AAP is part of the INDIA (Indian National Developmental Inclusive Alliance) bloc of Opposition parties with a seat-sharing deal with the Congress in Delhi and a few other states but is contesting alone in Punjab. It has some presence in a few states such as Goa and Gujarat where it has campaigned on the ground in various previous elections and is trying to strengthen itself in Haryana.

Au Small Finance Bank Ltd. slipped 0.53 per cent to Rs 563.0 in Friday's trade as of 01:04PM (IST). It hit a high of Rs 568.9 and low of Rs 562.2 during the session. The stock quoted a 52-week high price of Rs 813.0 and a low of Rs 548.15. The return on equity for the stock stood at 13.06 per cent. About 44,892 shares have changed hands on the counter so far.

Holi. The holiday-shortened next week will have only three trading sessions as exchanges will again be shut on Friday, March 29 on account of Good Friday. On Monday, the country's largest non-agri commodity market, the Multi Commodity Exchange (MCX) will also be shut for trading in the morning session between 9 am and 5 pm but open for trading in the evening session between 5 pm and 9 pm. As for the agri-commodity index, no trading will take place on this day.

InterGlobe Aviation Ltd. traded 0.15 per cent higher in Friday's session at 01:09PM (IST). The stock opened at Rs 3300.05 and has touched an intraday high and low of Rs 3327.55 and Rs 3266.65, respectively, during the session so far. The stock quoted a 52-week high of Rs 3339.0 and a 52-week low of 1810.45. About 9,792 shares changed hands on the counter so far.

Gautam Duggad, Head Of Research — Institutional Equities, Motilal Oswal Financial Services, says that while valuations are expensive for mid and smallcaps, it is not correct to say that the entire mid and smallcap basket is frothy. The midcap index right now is trading at around 30% premium to Nifty. Nifty is trading at close to 19-19.5 times one year forward now and midcap index is trading at somewhere about 27 times which obviously is very expensive. Smallcaps are also trading at expensive valuation at an index level. Versus Nifty, on a 10-year basis, the long-period discount for smallcaps is 24%. Today it is trading at a 10% premium to largecap. Duggad also says the market has respected the underlying earnings growth. When earnings were tepid for 10 years between FY10 and FY20, the market was also tepid. In last four years, earnings have done well, so markets have also done well. You have a very wide universe of stocks which you track among all the brokerages and it is only becoming wider. A lot of midcap and smallcap stocks are represented in your universe. The entire argument that smallcap, midcap rally so far was not broadly justified and there was frothy valuations and earnings. What is the reality of the earnings? What part of the smallcap, midcaps are showing strength in earnings and which part is actually falling back? Gautam Duggad: It is always very simplistic to paint the market or any segment of the market with one brush.