Tech View: Nifty’s short-term trend negative; 23,400  in sight
Mon, Dec 30, 2024 5:22 PM

Tech View: Nifty’s short-term trend negative; 23,400 in sight

Nifty, on Monday, formed a reasonable negative candle on the daily chart with an upper shadow. Technically, this market action indicates an attempt for a downside breakout of the range movement. This is not a good sign and signals more weakness ahead. The crucial support of the 200-day EMA has been violated again at the 23,700 level amid choppy movement.

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Guestara, NumberOne, Flo Mobility bag early-stage cheques
Mon, Dec 30, 2024 5:06 PM

Guestara, NumberOne, Flo Mobility bag early-stage cheques

Three startups, Guestara, NumberOne Academy, and Flo Mobility, have secured early-stage investments. Guestara raised $500,000 for its AI-driven guest management platform, NumberOne Academy secured Rs 3 crore for its business and technology courses, and Flo Mobility received an undisclosed amount for its construction robotics solutions.

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Throwback 2024: What moved the markets the most in the year gone by
Mon, Dec 30, 2024 5:04 PM

Throwback 2024: What moved the markets the most in the year gone by

SEBI, the Indian market regulator, took decisive action in 2024, introducing a stress test requirement for mutual funds and overhauling the futures and options sector. Election results, including the Lok Sabha election and US Presidential election, had a significant impact on the market. The budget announcements, including a hike in STT rate and LTCG, also influenced market sentiment.

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XRP Sinks 5% to Lead Crypto Losses as Strong Dollar Rattles Bitcoin
Mon, Dec 30, 2024 5:03 PM

XRP Sinks 5% to Lead Crypto Losses as Strong Dollar Rattles Bitcoin

XRP led crypto losses on the second-last day of this year as a stronger dollar weighed down global currencies and assets including bitcoin, with Asian equity markets sliding lower on Monday. XRP sunk more than 5% in the past 24 hours, with dogecoin (DOGE), Solana’s SOL, ether (ETH) and BNB falling as much as 2%. Overall market capitalization fell 3%, while the broad-based CoinDesk 20 (CD20).

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Indian IT companies likely to see margin jump in Q3 as rupee weakens
Mon, Dec 30, 2024 5:00 PM

Indian IT companies likely to see margin jump in Q3 as rupee weakens

Indian IT services companies will see operating margins improve in the third quarter of financial year 2025 and short to medium-term, as rupee continues to weaken against the US dollar. The US market accounts for nearly 50-65 percent of IT services business and revenue, especially for the top players including Tata Consultancy Services (TCS), Infosys, HCLTech, Wipro and Tech Mahindra.

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Adani Group to sell stake in joint venture to Wilmar for $1.4 bn
Mon, Dec 30, 2024 4:59 PM

Adani Group to sell stake in joint venture to Wilmar for $1.4 bn

Adani Group sells 31% stake in Adani Wilmar to Wilmar International for $1.44 billion to comply with India's minimum public shareholding requirements, with proceeds to be used to boost growth in core infrastructure platforms. Adani Group sells 31% stake in Adani Wilmar to Wilmar International for $1.44 billion to comply with India's minimum public shareholding requirements, with proceeds to be use

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Fujiyama Power Systems files IPO papers, plans Rs 700-crore fresh issue
Mon, Dec 30, 2024 4:58 PM

Fujiyama Power Systems files IPO papers, plans Rs 700-crore fresh issue

Uttar Pradesh-based solar energy solutions provider Fujiyama Power Systems has filed draft papers with capital markets regulator SEBI to raise funds via initial public offering for expansion and debt reduction purposes. The IPO will be a mix of fresh issuance of equity shares worth Rs 700 crore, and an offer-for-sale of 2 crore equity shares by existing shareholders.

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Hong Kong legislator proposes adding Bitcoin to national reserves
Mon, Dec 30, 2024 4:57 PM

Hong Kong legislator proposes adding Bitcoin to national reserves

A Hong Kong legislator has proposed adding Bitcoin to its national reserves, leveraging China’s “one country, two systems” policy for financial security.A Hong Kong legislator wants the special administrative region to take advantage of China’s “one country, two systems” policy to include Bitcoin in its national reserve for financial security.

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Generative AI: The breakthroughs of 2024 and the promise of 2025
Mon, Dec 30, 2024 4:55 PM

Generative AI: The breakthroughs of 2024 and the promise of 2025

The world turned a corner in 2024. Generative AI didn’t just make headlines—it became the quiet engine reshaping how industries function, how creators create, and how humans solve problems. Whether through OpenAI’s ChatGPT, Anthropic’s Claude, Google Gemini, Microsoft Copilot, or Meta AI on your Whatsapp, these tools became more than technology.

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Fake Bitcoin ETF, Trump backs BTC: 7 memorable Crypto X moments in 2024
Mon, Dec 30, 2024 4:52 PM

Fake Bitcoin ETF, Trump backs BTC: 7 memorable Crypto X moments in 2024

Crypto culture again thrived on X in 2024, and users of the social media platform produced some memorable posts that defined the space this year. Crypto culture was born on the internet — and Crypto X (once known as Crypto Twitter) has again delivered its fair share of memorable moments this year. To set the scene, it was Jan. 9 — just one day before the date predicted by Bloomberg’s ETF analysts.

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Malaysia’s securities regulator orders Bybit to halt operations
Mon, Dec 30, 2024 4:50 PM

Malaysia’s securities regulator orders Bybit to halt operations

The Malaysia securities regulator has ordered Bybit to disable its platforms, cease its ads and terminate its Telegram group for Malaysians. Malaysia’s Securities Commission (SC) has directed cryptocurrency exchange Bybit to cease operations in the country, accusing the company of running an unregistered digital asset exchange (DAX).

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GST annual return deadline is December 31
Mon, Dec 30, 2024 4:45 PM

GST annual return deadline is December 31

Every Goods and Services Tax (GST) registered person needs to file GST annual return using GSTR-9 form on or before December 31, 2024, for FY 2023-24. However, for FY 2017-18, 2018-19, 2019-20, 2020-21, 2021-22, 2022-23 and 2023-24 it is optional for taxpayers to file GSTR-9 (annual return) if their annual turnover is less than Rs 2 crore.GST annual return is filed using GSTR-9, GSTR-9C.

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Rising frequency of extreme weather events continue to pose risk
Mon, Dec 30, 2024 4:40 PM

Rising frequency of extreme weather events continue to pose risk

The rising frequency of weather events such as heat waves and unseasonal rains continue to pose risk for food inflation dynamics, Reserve Bank of India’s (RBI) Financial Stability Report said. “On the flipside, rising frequency of extreme weather events (e.g., heat waves and unseasonal rains) continue to pose risks for food inflation dynamics,” the report said.

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Year Ender 2024: Industrial & logistics sector fuels 10% growth
Mon, Dec 30, 2024 4:36 PM

Year Ender 2024: Industrial & logistics sector fuels 10% growth

The industrial and logistics sector has emerged as the top destination for private equity inflows followed by the office space sector in real estate in 2024.According to market data the industrial and logistics sector attracted $2.3 billion (around Rs 19,400 crore) and accounts for 54 percent of the total investments.

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Zomato-backed Magicpin set to join tech-IPO bandwagon
Mon, Dec 30, 2024 4:35 PM

Zomato-backed Magicpin set to join tech-IPO bandwagon

Hyper-local e-commerce firm Magicpin, backed by investors such as Zomato and Light Speed Ventures, is planning to go public in 2025 and has initiated talks with investment banks and law firms to appoint advisors for the IPO, people aware of the matter told Moneycontrol. Magicpin allows customers to discover offline retailers in their neighborhood, across categories such as fashion, food, grocery.

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