MSCI's benchmark stock gauge for emerging-market equities is on track for a 6.7% advance this year, snapping a two-year losing streak. Its currency equivalent index is headed for a 4.7% gain, its biggest yearly rise since 2017.
India's Nifty 50 and Sensex benchmarks were subdued on the last session of 2023, weighed down by a pullback in high-weightage financials, IT, and energy shares. The Nifty and BSE Sensex have risen about 20% each this year. Domestic flows, retail interest, and foreign institutional investor (FII) catch-up trade have aided the momentum in Indian markets. The upcoming quarterly earnings season will be crucial for the upward momentum. Small-caps and mid-caps have outperformed the benchmarks this year. Financials, IT, and energy lost on the day.
Adani is now at the 19th spot in the Bloomberg Billionaires Index. His total net worth has seen a $6.5 billion uptick as last reported by Bloomberg. The Ahmedabad-based businessman's total net worth is still down by $53.8 billion on the year-to-date basis.
LIC is going to launch one product in the first week of December, he said, hoping that it will attract a lot of traction in the market. In addition, he said, loan facility and premature withdrawal would also be a feature of the new product.
The team, led by David Kostin, joins others who have turned more positive about the outlook for equities, like Morgan Stanley's Michael Wilson. Meanwhile, Bank of America Corp.'s Michael Hartnett has said investors have moved to overweight positions in stocks and bonds.
JP Morgan Chase Chief Executive Officer Jamie Dimon will sell part of his stake in the largest US bank next year for the first time in almost 18 years at the helm, the bank said on Friday. Billionaire Dimon and his family intend to sell 1 million of the 8.6 million shares they own, subject to the terms of a stock trading plan, the bank said in a regulatory filing. The sale would fetch nearly $141 million, with a remaining stake of about $1.07 billion, based on Thursday's closing price.
The latest shareholding of IndusInd Bank showed that the foreign shareholding has decreased to 62.61%, thereby meeting the minimum headroom requirement of 15%.
On the expected lines, the private banking space and financial services outperformed. This large-cap private bank has attempted a strong breakout on stronger volumes and is set to move meaningfully higher from the current levels.
Reserve Bank of India (RBI) governor Shaktikanta Das expects inflation to decrease starting from September. He attributes this to a decrease in vegetable prices, restrictions on non-basmati rice exports, and reduced prices of domestic
The rupee and other Asian currencies were pressured by the rise in U.S. Treasury yields that in turn lifted the dollar against its major peers.
On both BSE and NSE, the stock with the symbol of JIOFIN will trade in the T Group segment for the first 10 days. The upper and lower circuit limit would be restricted to 5% which will restrict any major movement in the debutant.
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