In 2024, global markets were shaped by central bank policies, especially the U.S. Federal Reserve's rate cut. Indian market trends saw FIIs as net sellers and DIIs as strong supporters. Notable sector performances included surging Realty, Pharma, and Consumer Durables alongside declines in Media. Midcap and Smallcap stocks outperformed large-cap indices.
US President Joe Biden and First Lady Jill Biden paid their respects to former Indian Prime Minister Dr. Manmohan Singh, acknowledging his pivotal role in strengthening US-India relations. Biden highlighted Singh's contributions, including the US-India Nuclear Civil Agreement and the First Quad in the Indo-Pacific, and extended condolences to Singh's family and the people of India.
Team India lost two more wickets on Day 3 of the fourth Test against Australia. Rishabh Pant was dismissed early after attempting a risky shot. Former India captain Sunil Gavaskar criticized Pant's shot selection. India were 326/7 at tea on Day 3. The dismissal and its criticism highlighted the team's ongoing struggles.
The Japanese yen strengthened against the dollar following hints of a potential rate hike by the Bank of Japan. The central bank also reduced its monthly bond purchases. Traders are cautious due to U.S. economic policies and inflation concerns. Japan's Finance Minister reiterated concerns over the sliding yen, hinting at possible intervention to stabilize the currency.
New Zealand vs Sri Lanka Live Telecast: Mitchell Santner debuts as New Zealand's white-ball captain for the six-match series against Sri Lanka, starting on December 28. Key players include Rachin Ravindra, Daryl Mitchell, Mark Chapman, and debutant Bevon Jacobs for New Zealand, while Sri Lanka, led by Charith Asalanka, will feature stars like Wanindu Hasaranga and Pathum Nissanka.
Europe's STOXX 600 index gained 0.7%, marking its first weekly advance in three weeks. Healthcare and financial shares led the rise in a holiday-shortened week with low trading volumes. Key performances included advances in German, French, and British markets. Despite achieving all-time highs earlier, STOXX 600's overall 2024 gain stands at 5.2%.
Mutual fund overlap happens when funds in a portfolio share similar securities, reducing diversification and increasing risk. Investors should check fund holdings, use online tools, review sector allocation, and consult advisors to identify and minimize overlap. Spreading investments across various fund categories and different AMCs can help achieve effective diversification. Regular monitoring and consolidation can also address overlap.
U.S. stocks and the dollar saw slight declines due to profit-taking before the weekend, concluding a strong year. Major indexes and tech stocks experienced losses after a prior rally. The U.S. dollar still finished the year with significant gains. Gold prices dipped, while oil prices firmed. Bitcoin fell slightly.
Wall Street saw a broad-based sell-off Friday, ending the Dow's five-session winning streak, with significant declines in tech and growth stocks. Higher U.S. Treasury yields and profit-taking contributed to the declines, affecting even top performers. Despite this, all three indexes posted weekly gains.
In November, the Central Drugs Standard Control Organisation (CDSCO) identified 41 drug samples as not of standard quality (NSQ), while state drug testing laboratories identified 70 NSQ samples. Additionally, two drug samples were found to be spurious, made by unauthorized manufacturers. Authorities regularly collaborate with state regulators to remove such drugs from the market.
Nitish Kumar Reddy has been impressive in India's Test series against Australia. Facing challenges from the start of his debut in Perth, Reddy consistently contributed vital scores. In the Boxing Day Test, he reached his first Test half-century, preventing a follow-on against Australia. Reddy's performances have garnered praise from cricket legends.
Investors expect to benefit from seasonal momentum into mid-January with economic data and the Washington power transition influencing markets in 2025. Monthly U.S. employment data on Jan. 10 and Trump's inauguration on Jan. 20 are key events. The Fed's first monetary policy meeting and Trump's policies will impact markets. Cryptocurrencies like Bitcoin are showing positive trends.
Global leaders, including from the USA, Russia, Japan, Brazil, and multiple neighboring nations, have paid rich tributes to former Indian Prime Minister Dr. Manmohan Singh, highlighting his contribution to India's economic reforms and international relations. Leaders recalled their personal relations, emphasizing his role in enhancing bilateral ties and strategic partnerships.
The mortal remains of former Prime Minister Manmohan Singh were brought to the AICC headquarters in Delhi for party workers to pay their last respects. The funeral march preparations are underway, with the last rites to be performed at Nigambodh Ghat. The government has agreed to allocate space for Singh's memorial.
The recent decline in defence stocks offers a significant buying opportunity, as Antique Stock Broking expects increased government spending in the sector in Q4 of FY25. The brokerage recommends 'Buy' on Hindustan Aeronautics, Bharat Electronics, Bharat Dynamics, Mazagon Dock, and PTC Industries, with potential upsides of 5-45%.
Political leaders nationwide are grieving the death of former Prime Minister Dr. Manmohan Singh. He played a key role in India's economic liberalization. Leaders like Raghubar Das, Ghulam Ahmad Mir, and Hemant Soren praised his contributions. Dr. Singh passed away at AIIMS, Delhi, at the age of 92 due to age-related conditions. The last rites will be at Nigambodh Ghat.
Mamata Machinery, DAM Capital Advisors, Transrail Lighting, Sanathan Textiles, and Concord Enviro Systems debuted on the stock market with significant listing gains. Analysts advise caution and suggest avoiding new allocations due to rich valuations. Investors seeking short-term gains might consider flipping the stocks post-listing.
On Friday, the rupee experienced its steepest decline to date, reaching an all-time low of 85.53 against the US dollar, driven by domestic factors such as month-end dollar demand and limited RBI intervention. The local currency's overvaluation and potential for further depreciation are highlighted.
Jasprit Bumrah discussed his experience bowling to Australia's Sam Konstas during the Melbourne Test. He felt he could have dismissed Konstas multiple times early on. Konstas impressed with aggressive shots and scored 60 runs, boosting Australia to 474. Bumrah, currently the highest wicket-taker in the series, acknowledged sometimes good execution doesn't guarantee wickets.
Olivia Hussey Eisley, celebrated for her role in Franco Zeffirelli's 'Romeo and Juliet', passed away at 73. She died peacefully at home surrounded by loved ones. Her enduring legacy in film includes roles in 'Death on the Nile' and 'Stephen King's It'. She leaves behind her husband, children, and grandson.
The Chinar Warriors of the Indian Army evacuated 68 civilians and assisted 137 tourists stranded in Gulmarg due to heavy snowfall. They also rescued a pregnant woman in Kulgam and provided emergency medical assistance. The region experienced its first snowfall of the season, causing significant disruptions.
For the first time, over five lakh individuals will undergo eye examinations simultaneously, with three lakh spectacles distributed during the event. A grand "Netra Kumbh" has been set up in Sector 5 near Nagvasuki to facilitate this initiative, spanning approximately 10 acres. Scheduled for inauguration on January 5, the facility will provide free eye check-ups to devotees, with follow-up surgeries available at nearby hospitals post-event.
Neera Tanden raises concerns about biases in immigration debate affecting Indian Americans, urging them to recognize political perceptions. Elon Musk underscores immigrants' contributions, citing Nikola Tesla. The debate over H1B visas, boosted by Trump's AI adviser choice, reveals divisions in policies and US-India relations.