Information technology (IT) companies have been on the road to revival in the past one year. From being the worst-hit sector in 2022 with a loss of 26 per cent, the Nifty IT index closed 2023 with gains of 24 per cent. So far in 2024, the index is up around 7 per cent against the nearly flat Nifty 50 benchmark index. The IT index has been on a continuous decline in the last three sessions.
Indian markets on Thursday shrugged off any negative impact.
Gold prices have been on an uptrend in the last few months, rising nearly 28 per cent to $2387 per ounce now. This rise in gold price, according to Christopher Wood, global head of equity strategy at Jefferies, is attributed to the demand from China amid lack of investor euphoria as regards the yellow metal. "Recent developments show a distinct lack of investor euphoria as regards gold, the question remains what is driving the current rally.
The last batch of quarterly earnings, global trends and trading activity of foreign investors will guide the equity market movement in a holiday-shortened week ahead, analysts said. Volatility may continue amid investors' cautious approach in the election season. Markets will remain closed on Monday due to the fifth phase of the Lok Sabha elections in Mumbai.
Among the 30 Sensex companies, Kotak Mahindra Bank, Asian Paints, Reliance Industries, ITC, Sun Pharma, ICICI Bank, Axis Bank and JSW Steel were the major laggards. Larsen & Toubro, Tata Motors, Maruti, NTPC, Mahindra & Mahindra and UltraTech Cement were among the gainers.
In a big setback to the Indian Fed Cup team, Sania Mirza will miss the upcoming Group I Asia/Oceania zone tie, citing an abdominal injury.
Some investors had speculated that the US central bank might put its plans on hold given the jitters overseas.
The recent weakness of the rupee has been due to yuan's devaluation.
IMAGES from the Champions League matches played on Wednesday.
Delhi-based Shubham Chakraborty, 32, a management graduate from XLRI, Jamshedpur, tells us how he fought anxiety and stress due to poor workplace management.
With an expected earnings growth of 15 per cent, benchmark index Nifty 50 may hit 24,500 level by December 2024 and move further to surpass the level of 26,500 by December 2025, Emkay Investment Managers said on Tuesday. The 50-share Nifty settled at 22,888.15 on Tuesday. In the previous day, it hit a new lifetime peak of 23,110.80.
From the Sensex basket, Tata Steel jumped over 5 per cent. Mahindra & Mahindra, JSW Steel, Tata Motors, Axis Bank, Sun Pharma, Reliance Industries and Maruti were the other biggest gainers. Infosys, Tata Consultancy Services, Titan, Wipro, Hindustan Unilever and Nestle were among the laggards.
Make time for this one, you will be in for a pleasant surprise like I was, endorses Mayur Sanap.
Defending champions India beat Korea 3-1 to register their fourth consecutive win at the Hero Asian Champions Trophy.
Federal Reserve Chair Janet Yellen on Wednesday pointed to a possible December interest rate "liftoff" but said rates would rise only slowly from then on to nurture the U.S. economic recovery.
It seems that the West is sending a signal to India that it can return to old hostilities unless India toes their line on Russia. It is no surprise that India is being compared with Putin's Russia in terms of targeting 'dissidents' as the West calls these Khalistani terrorists, asserts Colonel Anil A Athale (retd).
The immigration tribunal ruled that the Sikh man who "housed and fed" armed Khalistani militants in India over a decade should be allowed into Canada because he did so "mostly out of necessity" and fear of retribution, the paper said.
From the Sensex basket, NTPC, Power Grid, IndusInd Bank, Tata Steel, Tata Motors, JSW Steel, Tech Mahindra and Larsen & Toubro were the biggest gainers. Bharti Airtel, Maruti, ICICI Bank and Asian Paints were the laggards.
Strong currency and sagging oil prices are spooking policymakers.
India will begin their campaign by locking horns with China on Tuesday. Ankita has been in tremendous form since the start of the season, winning two ITF singles and as many doubles titles.
History-sheeter Guru Waghmare who was murdered at a spa in Mumbai had tattooed on his body the names of 22 persons who could potentially harm him, police said on Thursday as they arrested at least three suspects a day after the crime.
Maria Sharapova will lead Russia in their Fed Cup first-round tie against France next year, the country's tennis chief said on Tuesday.
Hawkish guidance by the US Fed raises concerns it could tie the hands of RBI from trimming rates.
In the United States, economic data is likely to take a back seat next week.
Svetlana Kuznetsova and Anna Chakvetadze recorded contrasting victories against Italian opponents in Moscow.
Researchers from the Indian Institute of Technology-Palakkad (IIT-Palakkad) have introduced a pioneering method of generating renewable energy from human urine.
Foreign Portfolio Investors (FPIs) continued their buying spree and poured close to Rs 4,800 crore in the Indian equity markets in the first week of January driven by confidence in the country's robust economic fundamentals. Additionally, they injected Rs 4,000 crore in the debt market during the period under review, data with the depositories showed. With expectations of a prolonged decline in US interest rates in 2024, there is an anticipation that FPIs will likely escalate their purchase, particularly in the initial months of the New Year leading up to the general elections, V K Vijayakumar, chief investment strategist at Geojit Financial Services, said.
India stunned Tokyo Games silver medallist and their biggest nemesis Australia 3-2 in Paris on Friday
June rainfall accounts for 15 percent of the total precipitation of 87 cm recorded during the four-month monsoon season in the country.
'Scores of important BJP MLAs are in touch with Akhileshji, but he has very humbly said that the SP's doors are now closed to BJP MLAs and leaders.'
Describing the case as a "very hard one", the Supreme Court sought the Centre's response on Tuesday on a plea of a couple whose 30-year-old son has been lying in a vegetative state in a hospital since 2013 after suffering head injuries.
Fed rate hike 'makes sense,' says US reserve bank president.
The Williams sisters will in the United States' Fed Cup match against Belgium in April.
Years of unprecedented stimulus has left the Fed swollen with $4.5 trillion in bonds
'If you look at the average age of all our candidates, you will notice that their average age is between 35 and 40. It is a kind of revolution that the MNS is bringing in Maharashtra.'
India is more insulated to Fed-related volatility than other emerging markets due to its better economic fundamentals
The bias for the BSE benchmark index, technical charts suggest, is likely to remain bullish as long as the index holds above 75,600 levels for the rest of the year.
An expected withdrawal of FIIs from the market likely to weaken the rupee against the dollar.
From the Sensex basket, Titan, Reliance Industries, Asian Paints, Tech Mahindra, IndusInd Bank, UltraTech Cement, Wipro and ITC were the major laggards. ICICI Bank, Infosys, Bajaj Finserv, Tata Steel, Axis Bank, Bajaj Finance, Nestle and Mahindra & Mahindra were among the major gainers.
