Gold prices inched higher on Wednesday, as U.S. Treasury yields eased, while market participants waited for more U.S. economic data to determine the number of interest rate cuts the Federal Reserve is likely to deliver in the near term. Spot gold rose 0.3% to $2,667.97 per ounce by 0217 GMT, $17 shy of a record … Read more
The Australian and New Zealand dollars slumped on Wednesday as scepticism grew about top trading partner China's stimulus, while the greenback hovered near two-month peaks versus major peers on wagers U.S. interest rate cuts will be gradual. New Zealand's currency was weighed down further by data showing cooling inflation, keeping the door open for aggressive … Read more
Asian equities fell on Wednesday after disappointing earnings from Europe's biggest tech firm ASML dragged chip stocks around the world, while expectations that the Federal Reserve will take a modest rate cut path propped up the dollar. Also weighing on the market was lacklustre earnings from French luxury giant LVMH that showed demand in China … Read more
Indian shares are likely to open little changed on Wednesday, as investors await fresh triggers amid continuing foreign outflows. The Gift Nifty was trading at 25,039, as of 8:12 a.m. IST, indicating that the benchmark Nifty 50 will open near Tuesday's closing levels of 25,057.35. The Nifty 50 and S&P BSE Sensex indexes slipped 0.3% … Read more
The Union government on Tuesday announced the establishment of three Centres of Excellence (CoE) for Artificial Intelligence (AI) in healthcare, agriculture, and sustainable cities. The CoEs in AI, to be built with a total financial outlay of Rs. 990.00 Crore over the period of FY 2023-24 to FY 2027-28, is aimed to further boost the … Read more
The FIIs as per Tuesday's data were net sellers in both equity and debt segments, according to data released by the NSDL. In equity segment, the gross buying was of Rs 10109.27 crore against gross selling of Rs 13667.63 crore. Thus, FIIs stood as net sellers of Rs 3558.36 crore in equities. In the debt … Read more
Indian shares closed lower on Tuesday, with auto shares leading losses due to expectations of delayed domestic rate cuts while metals declined tracking a fall in global prices. The Nifty 50 index fell 0.28% to 25,057.35 points as of 3:30 p.m. IST, while the S&P BSE Sensex dropped 0.2% to 81,820.12. The prospect that a … Read more
India's HDFC Life Insurance reported a near 15% rise in second-quarter profit on Tuesday, but a key margin declined, triggering the worst fall in its shares in nearly a month. Demand for market- or unit-linked insurance plans (ULIPs) has been strong in recent quarters, driven by India's strong equity market. However, a rise in sales … Read more
The healthcare and pharma sector saw an overall 64 deals, valued at $2.8 billion in Q3 of 2024, marking the sector's highest quarterly volumes in three years, according to a report on Tuesday. The report by Grant Thornton Bharat showed that mergers and acquisitions, and private equity deal volumes increased significantly, with 59 deals worth … Read more
A whopping 99 per cent of C-suite leaders across India consider generative AI as an important factor, highlighting a major shift towards AI-driven transformation within the corporate landscape in the country, according to a report on Tuesday. The report, based on a survey of over 300 C-suite leaders by enterprise software major Salesforce survey, indicated … Read more