Wall Street Holidays next week: NYSE, Nasdaq to remain closed on THESE days
Sun, Dec 22, 2024 4:48 PM

Wall Street Holidays next week: NYSE, Nasdaq to remain closed on THESE days

US stock markets will close early on December 24 and remain shut on December 25 for the Christmas holiday, resuming normal operations until the New Year's holiday on January 1. Meanwhile, Wall Street closed higher on Friday, December 20, with the Dow Jones Industrial Average, Nasdaq Composite Index, and S&P 500 Index all posting gains.

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Sobha’s philanthropic arm to build homes for orphan girls, elderly women
Sun, Dec 22, 2024 4:29 PM

Sobha’s philanthropic arm to build homes for orphan girls, elderly women

Sobha Group's philanthropic arm on Sunday laid the foundation stone for building homes for orphaned girls and elderly women here. Sri Kurumba Educational and Charitable Trust laid the foundation stone for Devi Home in Moolamcode, Palakkad, Sobha Group said. This is to provide a safe, nurturing housing facility for orphaned girls aged 10 years and below, and elderly women aged 50 years and above.

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Leather exports likely to grow by over 12 pc to USD 5.3 bn this fiscal
Sun, Dec 22, 2024 1:28 PM

Leather exports likely to grow by over 12 pc to USD 5.3 bn this fiscal

India's leather and footwear exports are expected to grow 12% to $5.3 billion in the current financial year, driven by strong demand in the US and UK, with African markets also being explored. The industry has a potential turnover of $47 billion by 2030, with the sector seeking government support and incentives to achieve this goal.

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FTSE rejig: What stocks were moved?
Sun, Dec 22, 2024 1:12 PM

FTSE rejig: What stocks were moved?

Bharti Hexacom and Go Digit General Insurance shares are the latest additions to the FTSE index, according to the latest readjustment which also saw an increase in weightage of heavyweight stocks like ICICI Bank, Bajaj Finance and Kotak Mahindra Bank. The FTSE indices readjustment will be effective Monday, December 23 and the adjustment took place on Friday, December 20.

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Apple’s $1 Billion Investment May Be Fleeting Win for Indonesia
Sun, Dec 22, 2024 12:32 PM

Apple’s $1 Billion Investment May Be Fleeting Win for Indonesia

Indonesia claimed victory after Apple Inc. offered to increase its investment in the country to $1 billion to get President Prabowo Subianto’s government to lift a ban on the sale of iPhone 16s. The win may be short-lived. Indonesia needs a manufacturing revival to create jobs and boost economic activity to meet Prabowo’s target of 8% annual growth in the next five years.

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Factors that could impact the markets in the upcoming week
Sun, Dec 22, 2024 12:30 PM

Factors that could impact the markets in the upcoming week

📌Insurance sector stocks are likely to remain in focus on Monday as the GST Council on Saturday postponed a decision on cutting tax rate on life and health insurance premiums. 📌Major global markets will be closed on Wednesday December 25, 2025 on account of Christmas. 📌The rupee saw a recovery from its all-time low level and appreciated 9 paise to close at 85.04 against the USD on Friday.

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Year-ender 2024: FII selling crosses Rs 1 lakh crore in 2 sectors
Sun, Dec 22, 2024 12:27 PM

Year-ender 2024: FII selling crosses Rs 1 lakh crore in 2 sectors

Foreign portfolio investors (FPIs) sold Indian shares worth over Rs 1 lakh crore in financials and oil & gas sectors in 2024, with financials being the most severely impacted, selling shares worth Rs 53,942 crore. Meanwhile, capital goods, consumer services, and healthcare saw inflows. Experts expect moderate returns in 2025, with a focus on domestic-driven sectors.

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Looking to increase sourcing in India to 50pc in mid term: Hafele
Sun, Dec 22, 2024 12:24 PM

Looking to increase sourcing in India to 50pc in mid term: Hafele

German interior solutions provider Hafele is looking to increase sourcing from India to 50 per cent in the mid term with a gradual development of supplier base, according to company South Asia Managing Director Frank Schloeder. Hafele India, which has a turnover of ₹1,200 crore expects to triple its business here in the next six to seven years but it is facing challenges.

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Mcap of top-10 most valued firms slumps Rs 4.95 lakh crore
Sun, Dec 22, 2024 12:22 PM

Mcap of top-10 most valued firms slumps Rs 4.95 lakh crore

The combined market valuation of all the top-10 most valued firms plunged Rs 4,95,061 crore last week, in line with a bearish trend in equities, where Tata Consultancy Services and Reliance Industries faced the sharpest erosion. Last week, the BSE benchmark tanked 4,091.53 points or 4.98%. The Indian equity market recorded its steepest weekly decline since June 2022, with the Nifty losing 4.77%.

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FPIs pull out equities worth Rs 976 cr this week
Sun, Dec 22, 2024 12:16 PM

FPIs pull out equities worth Rs 976 cr this week

Foreign Portfolio Investors turned net sellers in Indian equities this week, withdrawing Rs 976 crore due to a strengthening US dollar and rising US 10-year bond yields, impacting investor sentiment. Despite this, FPIs have infused Rs 21,789 crore into Indian equities this month, reflecting continued confidence in India's economic growth.

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Why Nifty bulls must buckle up for the next big fall
Sun, Dec 22, 2024 12:16 PM

Why Nifty bulls must buckle up for the next big fall

Recently the US Federal Reserve cut the interest rates by 25 basis points from 4.75% to 4.5%. This move had served as a key trigger for the market decline of 2.85% in S&P 500. Such a sharp fall in the index sent chills down investors’ spine. Most are wondering whether there is more pain in the offing. Unfortunately, the answer is yes. Let’s see why I am saying this.

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2025 playbook for stock investors: Track these 3 powerhouse sectors
Sun, Dec 22, 2024 12:15 PM

2025 playbook for stock investors: Track these 3 powerhouse sectors

India's robust domestic growth engine, driven by a substantial middle class, increased manufacturing capacity, and strategic policy reforms, provides opportunities for investors in 2025. Focus on sectors like 📌digital healthcare, 📌infrastructure, and 📌AI-driven transformation, which exhibit undervalued potential and can drive investor returns.

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Andhra Pradesh demands for 1% calamity cess, GST Council to set up GoM
Sun, Dec 22, 2024 12:14 PM

Andhra Pradesh demands for 1% calamity cess, GST Council to set up GoM

The GST Council has decided to set up a group of ministers (GoM) to look into the demand for a 1 percent calamity cess on certain luxury goods by Andhra Pradesh to raise resources to mitigate natural disaster. "The cess will be on luxury items and state specific levy," Andhra Pradesh Finance Minister Payyavula Keshav said.In September-October, Andhra Pradesh was hit by floods.

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Upcoming IPOs: One mainboard, two SME IPOs to hit Dalal Street next week
Sun, Dec 22, 2024 12:12 PM

Upcoming IPOs: One mainboard, two SME IPOs to hit Dalal Street next week

The primary market is poised for significant activity next week with a series of ongoing and upcoming IPOs. The week will witness the launch of one mainboard IPO and two SME IPOs, keeping D-Street abuzz. Additionally, eight companies are scheduled for listing during the week. The upcoming IPO next week: 📌Unimech Aerospace and Manufacturing, 📌Solar91 Cleantech, 📌Anya Polytech & Fertilizers.

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Zomato upends tradition with Sensex entry
Sun, Dec 22, 2024 11:23 AM

Zomato upends tradition with Sensex entry

Zomato will make history on Monday as the first new-age tech stock to be included in the prestigious BSE Sensex, replacing JSW Steel in a half-yearly rebalancing of constituents. This signals a significant shift in the Indian business landscape. While the rejig is routine, Zomato's inclusion in the club of India's most influential companies underscores the growing prominence of the digital sector.

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