Quantum computing stocks plummeted on Wednesday after Nvidia CEO Jensen Huang estimated that practical, useful quantum computers are 20 years away, dampening enthusiasm for a sector that had seen shares rise at least three-fold last year, with companies like Rigetti Computing and Quantum Computing falling over 17%.

UK markets tumbled, pushing bond yields to the highest in more than a decade, as jitters over persistent inflationary pressures sparked unnerving comparisons with the 2022 gilt crisis. Benchmark 10-year yields jumped as much as 14 basis points to 4.82%, the highest since August 2008. The pound fell against all major currencies, slumping more than 1% versus the dollar, while UK stocks fell.

Microfinance institutions' asset quality in three states such as Bihar, Uttar Pradesh and Kerala has deteriorated sharply as on September 2024, according to the CRIF report. The portfolio at risk (PAR) for the Kerala in 31-180 days has gone up to 7.2% as on September 2024, from 2.1% as on September, 2023. Similarly, PAR for Bihar and Uttar Pradesh has gone up to 5.5% and 4% as on September 2024.

US-based Novelis Inc, which is part of Hindalco Industries, on Wednesday (January 8) announced that it plans to offer $500 million in senior unsecured notes due 2030 in a private offering. The offering is exempt from registration under the Securities Act of 1933. The notes will be guaranteed by Novelis and some of its subsidiaries on a senior unsecured basis.

Wall Street's main indexes opened subdued on Wednesday, as investors digested softer-than-expected jobs data and took stock of a report that said Donald Trump was mulling a national economic emergency declaration. DJIA rose 13.7 points, or 0.03%, at the open to 42,542.1. The S&P 500 rose 1.6 points, or 0.03%, to 5,910.66, while the Nasdaq Composite dropped 20.3 points, or 0.10%, to 19,469.365.

💰Upgrades: Carvana to Buy with a $277 target, Autodesk to Overweight with a $357 target, Twilio to Outperform with a $140 target, Coca-Cola to Buy with a $75 target, and UPS to Outperform with a $147 target. 💰Downgrades: AMD to Reduce with a $110 target, Leidos to Hold with a $165 target, Palo Alto Networks to Neutral, Adobe to Hold with a $475 target, and Merck to Hold with a $110 target.

On January 8, DIIs net bought shares worth Rs 2,716 crore, while on the other hand, FIIs net sold shares worth Rs 3,362 crore, provisional data from NSE showed. During the trading session, DIIs bought Rs 14,251 crore shares and sold shares worth Rs 11,535 crore, and FIIs purchased Rs 9,944 crore shares while offloading equities worth Rs 13,306 crore.

Model portfolios by research analysts (RAs) will need their performance validated by an agency specified by the regulator and benchmarked to an appropriate index, said a new set of guidelines issued by SEBI on Webnesday. The market regulator issued the guidelines for recommendation of model portfolios by Research Analysts on January 8.

Nomupay has completed a third investment round of $37m, bolstering the firm’s ambition to open up the notoriously complex Asian market to international acquirers, merchants, PSPs and ISOs. The final $12m tranche of the September fundraise was led by Endeit Capital, with Uneti Ventures participating. Existing investors continued their support, contributing $25m over the last 18 months.

United Breweries Ltd has suspended beer supplies to Telangana due to significant operating losses, citing no price increase since FY20, escalating losses, and unpaid dues; the company has a 70% market share in the state, and the decision may lead to short-term losses but long-term benefits if price increases are negotiated.

SEBI has updated the timelines for CRAs, changing the measurement from calendar days to working days for key rating actions. This shift, announced in a circular on January 8, follows consultations with the working group for CRAs. It aims to make compliance more flexible and practical for CRAs. This change helps address operational difficulties faced by CRAs.

Central government must explain the reasons behind a massive revision in the figures for gold imports in the month of November 2024 in the interest of transparency, think tank GTRI said in a note on January 8. India's trade ministry is yet to officially explain the reason behind the sharp revision in the gold import numbers for November.

MOIL, a state-owned manganese ore company, has been fined ₹16.77 crore by the Collector of Balaghat for exceeding production limits at its Tirodi mine between 1993-1996 and 2006-2009. The company plans to appeal the order and confirmed that the penalty will not impact ongoing operations. MOIL recently increased manganese ore prices by 1-5% effective January 1, 2025.

Nifty formed a small red candle on the daily chart on Wednesday with a long lower shadow, technically indicating the formation of a ‘hammer’ type candle pattern. Normally, such hammer formation after a reasonable decline calls for an impending trend reversal on the upside post-confirmation. The short-term trend of the Nifty remains weak.

PN Gadgil Jewellers reported a 24% year-on-year revenue growth in Q3 FY25, driven by strong same-store sales, festive demand, and a robust performance in its retail, franchise, and e-commerce segments. The company opened nine new stores during Navratri and plans to launch three more in the next quarter, aligning with its expansion strategy.