Oil prices rose following Biden's suggestion that United States and Israeli officials were considering a possible Israeli strike on Iranian oil facilities, as reported by the Washington Post.
After a year of decline, mergers and acquisitions (M&As) in India increased 13.8 per cent, reaching $69.2 billion in the first nine months of 2024, as against $60.8 billion during the same period in 2023. Led by Indian companies and private-equity (PE) firms, 2,301 transactions were signed between January and September this year as compared to 1,855 transactions reported in the same period last year, according to the Bloomberg data.
The ministry of finance is likely to assume crude oil price to remain within $85 per barrel while estimating subsidies for the Interim Budget 2024-25 (FY25), to be presented on February 1. Brent crude prices moved up on Thursday, ending at $78.9 per barrel. Crude oil and cooking gas prices, which move in tandem, impact fertiliser and cooking gas subsidies, constituting 53 per cent of the government's total subsidies.
Stock Market News today, PSU banks: The year 2024 was a roller-coaster ride for Indian stock markets, marked by volatility driven by the Lok Sabha elections, Union Budget 2024, a slowdown in corporate earnings, and sticky inflation. Geopolitical tensions - particularly between Israel and Iran in West Asia - along with various stimulus announcements by China and yen carry trade rocked the equity markets throughout the year.
After a strong run in the midcap and smallcap indices, which surged 46 per cent and 43 per cent, respectively, on the National Stock Exchange (NSE) during Samvat 2080, analysts suggest that the rally in these segments may pause to catch its breath in Samvat 2081.
Over 100 writers, translators, and publishers have signed an open letter accusing the "JCB Prize for Literature" of hypocrisy, highlighting the British bulldozer manufacturer's role in demolitions across India and Palestine. They argue that the JCB's involvement in these projects contradicts its purported support for marginalized and diverse writers. The letter was released ahead of the announcement of the JCB Prize for Literature winners on November 23.
They said a Delhi Police Special Cell team nabbed four people from South Delhi's Mahipalpur and confiscated the consignment weighing over 602 kilograms.
New investors should gradually build a 5 to 10 per cent allocation to gold.
The Reserve Bank of India's (RBI's) interest rate decision, West Asia conflict and trading activity of foreign investors are the key factors that will dictate investors' sentiment in the market this week, analysts said. Moreover, quarterly earnings from IT bellwether TCS, domestic macroeconomic data and movement in global oil benchmark Brent crude would also guide trends in the market. Worsening tensions in the Middle East and foreign fund outflows were the major culprits behind the equity markets sharp fall last week.
Israeli Prime Minister Benjamin Netanyahu termed it the 'largest cooperation project in our history', one that would 'change the face of the Middle East, Israel, and impact the entire world'.
'The global climate system doesn't look at where the carbon dioxide is coming from. 'It may be emitted by the US, but it will not remain above the US alone but covers the whole world.'
In the weeks between his phenomenal electoral victory and swearing-in as the 47th president of the United States, the world got a preview of what a second Donald Trump presidency will entail -- both for itself and America.
'Netanyahu lured Trump into a trap by enticing him with a seductive scenario of massive lucrative business in Gaza's reconstruction.' 'Trump's imagination is running riot, completely disconnected from ground realities,' asserts Ambassador M K Bhadrakumar.
The leak occurs at a particularly delicate time in US-Israel relations and is likely to infuriate Israel, which has been preparing to retaliate against Iran following a missile barrage on October 1.
'I certainly hope the two can avoid a trade war and believe they will.' 'I expect some in India will push for retaliatory tariffs if the Trump administration applies significant reciprocal tariffs.'
Prime Minister Narendra Modi and French President Emmanuel Macron have called for enhancing trade and investment ties between their countries and committed to further deepening their engagement in the Indo-Pacific. They discussed a full spectrum of bilateral relations, including key global and regional issues, and stressed the urgent need for reform in the United Nations Security Council. The leaders also underscored their commitment to ensuring the global AI sector can drive positive social, economic, and environmental outcomes.
The narrative on China is changing post the recent stimulus measures, and it will be hard for global investors to ignore the Chinese markets.
'Given that the situation is quickly escalating, such attacks will affect the flow of crude in the short term from West Asia' Subhayan Chakraborty and Dhruvaksh Saha report.
The IDF noted that the strikes are being conducted in response to "relentless attacks" from Iran and its proxies since October 7, adding that Israel has the "right and the duty to respond."
From the 30 Sensex firms, Larsen & Toubro, Reliance Industries, Axis Bank, Asian Paints, Tata Motors, Bajaj Finance, Maruti, Bajaj Finserv, Kotak Mahindra Bank, Titan, Adani Ports and HDFC Bank were the major laggards. JSW Steel emerged as the only gainer.
'We were not disappointed with the loss. We didn't lose the match because of experiments, sometimes conditions also matter.'
Senior pros Rohit Sharma and Virat Kohli haven't played too many ODIs in the last couple of years, while young Shubman Gill is still finding his feet at the top level.
He said the security forces would ensure any infiltration attempt is thwarted.
'IT companies do not have a large presence there either in terms of market and team. So, the impact of the war will be minimal. But West Asia is an emerging economy.'
Across West Asia, the old bonds of tribe and creed are causing states to unravel.
An all-format bowler, Bumrah took five for 30 in a memorable first-innings display and three for 42 in the second innings to guide India to a 295-run win in the Perth Test recently.
As tensions continue to rise, the Israeli public remains on high alert, bracing for the possibility of further incidents.
He also said that his country would continue to talk about the Kashmir issue "through channels that are acceptable" and prayed that "the issue is amicably resolved".
'The private sector will look to the budget to check whether there are any headwinds or tailwinds.'
Carter was in politics, but not a politician, certainly not a transactional politician, points out Shreekant Sambrani.
Trump's sweeping tariffs and penalties on China-built ships have turned global shipping into the front line of economic war, observes Shyam G Menon.
Foreign portfolio investors (FPIs) have net sold domestic shares worth over $10 billion so far this month amid a shift to China, which not only offers attractive valuations compared to India but has also announced several measures to support the economy and the stock market in recent weeks. If the trend doesn't reverse, this will be the first time that overseas funds will yank out more than $10 billion from Indian equity markets in a month.
'Even now, investors are not bothered about the war but are more concerned whether it will remain localised or not.' 'In case things are contained, markets can stage a bounce back in the next few days.'
The new Samvat 2080 is viewed as a year of hope for industrial and precious metals. A key reason is the expectation of US interest rates peaking, followed by a reduction in the coming months. Regarding crude oil, its trajectory depends more on how the situation unfolds in West Asia.
Earlier in response to Iran's rocket barrage on Israel on Tuesday night the UN Chief had said, "I condemn the broadening of the Middle East conflict with escalation after escalation. This must stop. We absolutely need a ceasefire.."
India on Friday asked its citizens not to travel to Iran and Israel amid increasing fears that Tehran may launch an attack on Israeli soil in retaliation to a strike on the Iranian consulate in Syria 11 days ago.
'KL Rahul and Shreyas Iyer have not played matches. Playing in a big game like Asia Cup or World Cup is totally different, there is a lot going on. Your level of fitness has to be more than 100%. I hope they are fit.'
Chief of Defence Staff Gen Anil Chauhan on Tuesday underlined the evolving nature of warfare and said a combat has always been between humans but now the world is going to enter an era in which it may be between a machine and human being and later between machines.
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