INVESTING UPDATE 24

 Indian markets opened almost flat compared to yesterday’s closing level. Nifty 50 fell till afternoon and started rising after that, to end in green. IT and auto stocks rose the most. Japan’s Nikkei index rose to its all-time high after 1989. More India's crude oil imports stood at 21.39 million metric tons in Jan, highest in 21 months. The Indian government has allowed 100% Foreign Direct Investment (FDI) for satellite component making companies. Jio added 39.94 lakh subscribers in Dec, Airtel added 18.5 lakh. Vodafone Idea and BSNL lost 13.68 lakh and 1.5 lakh respectively. Airtel had 98.9% active subscribers. Jio: 92.32%. Fair and remunerative price of sugarcane has been increased by 8% for the 2024–25 season. India's mineral output increased by 5.1% in December as compared to the year-ago period. The government has allowed traders to export 54,760 tonnes of onion to Bangladesh, Mauritius, Bahrain, and Bhutan till 31 March. Uber is one of our most challenging markets for gr...

People are receiving false calls/messages asking for account details for updating KYC: RBI. Suspicious activity can be reported to the National Cyber Crime Reporting Portal. Redemption date for Sovereign Gold Bond (SGB) 2016-1 (issued in 2016) has been set as 8 Feb, 2024. Redemption price: Rs 6,271 per unit (101% more than the issue price). The Indian government is expected to receive $1.8 billion in dividends from state banks in Financial Year 2025, up 8.7% compared to FY24 (based on estimates): Vivek Joshi, India's financial services secretary. Stocks in News • HDFC Bank: got approval from RBI to acquire aggregate holding of up to 9.50% in 6 banks including Yes Bank, IndusInd Bank, and ICICI Bank. • L&T: bagged a large order to construct a bridge across the Brahmaputra river in Assam. • Zee Entertainment: NCLT has agreed to hear the petition for the recently terminated merger with Sony Group's Indian subsidiary. • LIC: launched a new individual life insurance plan called ...

 Stock Market Crash: Indian stock markets suddenly crashed on Wednesday 20th December. Sensex took a dive of 930 points. Nifty closed with a loss of 300 points. The fall was so sharp that investors lost Rs 9.32 lakh crore in a day. Experts say that there is not just one reason behind this decline, but many reasons. Stock Market Crash: Indian stock market on Wednesday 20 December  Suddenly he collapsed. Sensex took a dive of 930 points. Nifty closed with a loss of 300 points. The fall was so sharp that investors lost Rs 9.32 lakh crore in a day. Experts say that there is not just one reason behind this decline, but many reasons. This ranges from profit booking, increase in Covid cases in some parts of the country, rise in crude prices, FII's. 1. Profit booking A major reason behind Wednesday's fall in the stock market was profit-booking. The market was touching new peaks every day for the last few days. In such a situation, market observers were expecting a good profit boo...

 Sensex Today: Sensex Today: Sensex and Nifty witnessed heavy selloff on Wednesday, stepping back from all-time high levels. The selling came even as the global market mood remained upbeat. Barring IT and FMCG indices, all sectors traded with cuts. The fall in the broader markets was more pronounced vs Nifty50. Stock Market Highlights Doms shares list at 77% premium India Shelter Finance shares debut at 26% premium Azad Engineering IPO opens for subscription Paytm CEO sees full operating profit in under a year Ola Electric likely to file IPO papers today Market View Even as the holidays are fast approaching, the market is not in a holiday mood. It is consolidating but at higher levels. The steady rise in the mother market US, which has helped the Dow to set a new record high, is exhibiting the same trend. The fact that the fear gauge - VIX - is at a low level of 12 is an indicator of the underlying strength of the market. Valuations in the mid and small cap segments are excessive. ...

  In the coming week, after consistent run up in past six weeks, the market is expected to see a rangebound trade and consolidation, with major focus on the Fed meet outcome and the Powell commentary. The equity markets had a spectacular run in the week ended December 8, reporting the biggest weekly gain in last 16 months and hitting the much-awaited psychological 21,000 mark for the first time. Favourable state elections results hinting more infrastructure investment from government, better-than-expected economic growth for Q2FY24, increase in full year GDP growth estimates by RBI while maintaining status quo on policy rates & retaining full year inflation forecast, strong hopes of ending rate hike cycle despite inflation concerns, and stable oil prices lifted market sentiment. In the coming week, after consistent run up in past six weeks, the market is expected to see a rangebound trade and consolidation, with major focus on the Fed meet outcome and the Powell commentary espe...

KEY POINTS The New Zealand dollar jumped 1% to nearly 0.62 against the U.S. dollar, hitting a near four-month high. The Reserve Bank of New Zealand holds official cash rate at 5.5%, warned rates could go higher to tackle inflation.   The  New Zealand dollar  jumped 1% to nearly 0.62 against the  U.S. dollar  after the Reserve Bank of New Zealand held its official cash rate at 5.5% and warned that rates could go higher to tackle inflation. The kiwi dollar jumped to its highest level in nearly four months after the decision. The currency is down 2.5% so far this year, and is headed for its third straight yearly decline. The central bank noted  that inflation remained too high  and said monetary policy will need to remain restrictive in order to control it. “The official cash rate   will need to stay restrictive, so demand growth remains subdued, and inflation returns to the 1 to 3 percent target range,” the RBNZ said in its monetary policy statement...