Domestic markets show a gradual rebound with focus shifting to upcoming US inflation and potential Fed policy stance. Analysts highlight US political risk and recession fears as factors influencing global market sentiment. On the domestic front, strong monsoon and festival season demand are expected to drive investor sentiment, supported by healthy macros and retail participation.
Wall Street's S&P 500 index rose by 0.5% on Tuesday, but gains were limited due to concerns about slowing economic growth. Bank stocks fell after warnings of current-quarter weakness, and energy shares dropped as crude oil futures declined. Investors are closely watching upcoming inflation reports and the U.S. presidential election.
Crude oil prices rose on Wednesday as concerns about Tropical Storm Francine disrupting supply outweighed demand worries. Brent crude futures increased to $69.58 a barrel, while U.S. crude futures reached $66.19 a barrel. The storm has led to the suspension of some production facilities in the Gulf of Mexico.
US Presidential Debate 2024: In their first presidential debate, Donald Trump and Kamala Harris sparred over the economy, trade policies, and abortion rights. Harris criticized Trump's economic policies and his role in overturning Roe v. Wade, while Trump blamed Harris for inflation and immigration issues. The debate highlighted key differences in their platforms.
The day is here! The elite jury of The Economic Times Startup Awards 2024, led by Infosys cofounder Nandan Nilekani, will meet in Bengaluru to pick the brightest stars in India’s startup galaxy. This and more in today’s ETtech Morning Dispatch.
Stocks in news: Domestic markets continued their rebound, gaining nearly half a percent on Tuesday, driven by a recovery in global indices. Key stocks like HDFC Bank, Vodafone Idea, Dr Reddy's, Reliance Industries, and IndiGo will be in focus due to various developments including loans, penalties, and regulatory clarifications.
Asian stocks fluctuated as investors await U.S. inflation data and a crucial presidential debate between Kamala Harris and Donald Trump. The debate could influence fiscal policies and economic plans. Oil prices remained near three-year lows due to weak demand concerns, while the U.S. dollar stayed defensive.
For the ET Startup Awards 2024, jury members from across the globe will come together on September 11 to recognise the brightest and best entrepreneurial talent.
Your data can be exchanged for as little as Rs 150-Rs 300 by informants who sell "datasets" to employees at call centres, BPOs, or telemarketers, as per an investigation by ET. Digital privacy experts point to multiple sources of data leaks that feed this proliferating industry.
In any volatility which is caused by global factors, it is the banking stocks which bear the brunt of selling, the reason is simple, FII will sell what they own and it is the banking sector where they have the highest exposure. But as soon as that selling is over and the money starts to make a comeback, it is banking stock which is the first one to attract funds, again the reason is simple, they are the best proxy for economic growth. Check out Stock Reports Plus, powered by Refinitiv, for price... Читать дальше...
The ET Startup of the Year will be characterised by breakthrough innovation, top-class execution and fast-paced growth. The quality of the founding and management team was an important component in decision making.
The award will recognise the most lucrative exit in the year. The decision will be made based on the volume of deals as well as the size of the exit.
For the ET Startup Awards 2024, jury members from across the globe will come together on September 11 to recognise the brightest and best entrepreneurial talent.
Founded by Indian School of Business alumni Deepak Jain, Ritesh Jain and Manish Lunia in 2016, Flexiloans has till date raised Rs 636 crore in equity funding. The company has built an AUM (asset under management) of around Rs 2,000 crore and disbursed Rs 3,000 crore in loans mostly to small and medium businesses in 2023-24. Its current gross bad loans stand at 3.4% of its AUM.
Small and medium companies are racing to form partnerships with peers and cloud service providers to become eligible for the massive Rs 10,000 crore graphics processing units (GPUs) tender by the government. As per the GPU procurement tender, central to India’s Artificial Intelligence Mission, the bidder must have installed or placed a purchase order for a minimum 1,000 GPUs.
G42 will invest in the project which was part of the Memorandum-of-Understanding (MoU) signed between the two government back in February 2024, Manu Kumar Jain, CEO, G42 India told ET. “G42 is proud to be the executing partner of the MoU initiatives,” he said.
The markets extended their gains but faced resistance at key levels, with the Nifty ending up by 104.70 points. Tata Power shows potential for a breakout from its consolidation range, while Honasa Consumer has broken out from its horizontal trendline resistance, indicating a possible 7% rise in stock price.
Apple's iPhone 16 series may boost its India market share to a record 8% by volume this year, with revenue expected to rise by 18%. The reduced pricing of Pro models and increased local assembly are key factors. Older iPhone models have also seen price cuts, contributing to anticipated strong sales during festive months.
Trai took the step after the telcos did not pay up despite several reminders over the last few years. The maximum amount needs to be paid by state-run Bharat Sanchar Nigam Ltd (BSNL) and Mahanagar Telephone Nigam Ltd (MTNL), amounting to around Rs 50 crore for defaults over 8-10 years, followed by Bharti Airtel (Rs 20 crore), Vodafone Idea (Rs 15 crore) and Reliance Jio (Rs 12 crore). The private telcos haven’t paid penalties for a period of 10 months to three years, said an official.
The Congress party has accused SEBI Chairperson Madhabi Puri Buch of conflict of interest, alleging her consultancy firm earned ₹3 crore, mostly from Mahindra & Mahindra. The party claims Buch's firm remained active despite her SEBI role, raising questions about potential preferential treatment.
The stock, despite hitting a 52-week high in August, couldn't sustain the momentum and retreated, finding support at the 50-DMA. However, it recently broke out of a 3-year consolidation, overcoming the 2,700 resistance level which had previously acted as a significant barrier. This breakthrough signals a potential shift in the stock's trajectory. While it currently trades above this crucial level, investors should remain watchful as the market continues to evolve.