The yen rose on Thursday after a sharp drop the day before, driven by mixed signals from the Bank of Japan regarding future rate hikes. Investors have been cautious, weighing the unwinding of carry trades and uncertain rate paths. This volatility underscores the fragility of global financial markets.
A sudden stock market selloff led to massive losses for those betting on market stability. The CBOE VIX index spiked sharply, erasing billions from short-volatility ETFs. Both retail and institutional investors suffered, highlighting the dangers of betting against market volatility.
Fortis Healthcare saw a 40% rise in consolidated profit after tax, reaching ₹174 crore for Q1FY25 from ₹124 crore the previous year. Revenue grew to ₹1,859 crore. The hospital business, accounting for 84% of EBITDA, led this growth. Plans include adding 700 beds and evaluating inorganic growth opportunities.
Canara Bank aimed to raise a minimum of $300 million by issuing bonds internationally to bolster its liability franchise amid strong credit growth. The bank enlisted DBS Bank, Mitsubishi UFJ Financial Group, and BNP Paribas for this effort. This was its first bond issue in over five years, intended to broaden its funding sources.
Shares of state-owned ONGC and Oil India rose almost 8% after ONGC's first-quarter profits surpassed estimates. Investors also anticipated strong results from Oil India and higher oil prices due to tensions in the Middle East. Analysts recommended waiting for a potential dip before investing further.
At the Paris Olympics, India is set to compete in golf, wrestling, and athletics. The Indian hockey team is aiming for two medals, with the Indian team in the bronze medal match and Neeraj Chopra in the Javelin throw final. Women's golf will see Diksha Dagar and Aditi Ashok compete in the stroke play event. Jyothi Yarraji will represent India in the women's 100m hurdles, while Aman Sehrawat and Anshu Malik will compete in the men's freestyle 57 kg round of 16.
Traders are bracing for continued market volatility, with significant attention on Thursday's report regarding US jobless claims. The options market suggests a 1.2% move in the S&P 500 Index. Recent unemployment figures have raised concerns, and the jobless claims data will be key in understanding labor market trends and potential market impacts.
ICICI Prudential Balanced Advantage Fund decreased its equity allocation to 31.2% in July, the lowest in 20 months, owing to rising market valuations. The fund's equity allocation can range from 30% to 80%. The fund's lowest equity allocation since its March 2010 launch was 30.13% in August 2018.
India's stock indices rebounded by over 1% after three losing days as the Bank of Japan vowed to maintain stable interest rates. The Nifty rose 304.95 points, closing at 24,297, and the Sensex climbed 874.94 points to 79,468. Domestic institutional investors were net buyers, while foreign investors sold shares worth ₹3,315 crore.
U.S. stocks closed lower on Wednesday, with the Nasdaq dropping 1%. Technology shares and a weak 10-year Treasury auction dampened investor sentiment. The S&P 500 technology index was the biggest drag, falling 1.4%. Significant declines included Walt Disney and Super Micro Computer. Investors remained cautious amid recession worries and upcoming central bank commentary.
Oil prices increased for the third day following a significant reduction in U.S. crude inventories. Brent and WTI futures experienced mild gains. The unexpected fall in U.S. crude stockpiles and potential Middle East supply risks contributed to the upward trend. Additionally, Libya announced a production cut due to protests, adding to the market fluctuations.
After days of decline, domestic markets showed recovery, ending with gains. Nifty's relief rally coincides with investor attention on the upcoming RBI policy outcome. Global markets had mixed results, and oil prices rose. Foreign investors net sold Rs 3,314 crore, while DIIs bought Rs 3,801 crore. Major companies will announce Q1 results soon.
Anthony Ammirati of France, who has become a viral pole vaulter for being disqualified from the Paris Olympics, when his private parts touched the crossbar, has now finally spoken up about the scandal he went through at the Games.
Happy Thursday! YouTube CEO Neal Mohan spoke to ET about the creator economy, India market, and more. This and other big stories in today’s ETtech Morning Dispatch.
The domestic markets rebounded on Tuesday, gaining over a percent owing to robust global cues. Stocks such as LIC, Eicher Motors, RVNL, and Tata Motors were highlighted due to quarterly results and corporate developments. Key financial outcomes were reported by BSE, NHPC, and Apollo Tyres. Moody's upgraded Tata Motors' rating, keeping a positive outlook.
Asian equity markets, particularly Japan, saw declines amid investor concerns over central bank signals on interest rates. The Topix Index and other regional benchmarks dropped, with the yen rising slightly. US Treasury yields fell, influenced by recent economic data. This follows the Bank of Japan's interest rate actions and soft US economic indicators affecting market sentiments.
Indian wrestler Vinesh Phogat on Thursday announced retirement from wrestling in a post on platform X (formerly Twitter). This development comes a day after she was disqualified from Paris Olympics 2024 before her gold medal bout.
The Paris Olympics 2024 is the greatest event on Earth and many of the athletes may not have been able to grab medals but have gained places in people's hearts for the coming years. Let us now check out those stars who have entertained, surprised and inspired the audience throughout the last few days here in Paris.
Overall, the price of API access to closed models has come down by 65%-90% over the last 12 months, which is helping startups like InVideo, Yellow.ai, Haptik, Gnani.ai, Shorthills.ai to expand their margins, invest in research and development, improve performance, hire more talent as well as price their products competitively.
While the market might have witnessed a sharp cut, if one takes a closer look, there are signs that midcap stocks have been sort of a relative outperformer. They fell pretty much in line with the broader market indices, but they were able to recover in a much faster way. The number of mid cap stocks were able to keep their head above water and the market breadth has been positive. While one cannot rule out more volatility, over the next few weeks, if there is no major trouble coming in from global markets... Читать дальше...
With Ola Electric preparing to list on the bourses later this week, CEO Bhavish Aggarwal is simultaneously sharpening his focus on the cab-hailing business, planning its quick commerce foray. Ola Cabs parent ANI Technologies is planning to set up dark stores amid rising demand for quick deliveries, people in the know told us.
Digital transformation projects are making a comeback in India’s IT services industry after a lull of about two years, albeit with some cost-saving provisions. Several transformation deals announced by homegrown IT firms in the past four to five months have originated from the Nordic region, all of which involve a large amount of transformation work.
India is a driving force for the success of YouTube’s multiple products, including its short-form video format, chief executive Neal Mohan told ET during his first visit to the country since he took over from Susan Wojcicki in February last year.