Weak China markets dragged broader Asian shares lower on Thursday, while longer-dated U.S. bond yields rose alongside the dollar as investors assessed the monetary policy and inflation outlook in the world's largest economy. Bitcoin steadied above $90,000 after having surpassed that level in the previous session, turbocharged by Donald Trump's return to the White House … Read more
Oil prices dropped slightly early on Thursday on expectations of higher global production amid forecasts for weak demand growth, while a firmer dollar also kept a lid on prices. Brent crude futures were down 6 cents, or 0.08%, at $72.22 a barrel by 0133 GMT. U.S. West Texas Intermediate crude (WTI) futures were down 13 … Read more
The U.S. dollar revisited a one-year high against major peers on Thursday, as a fourth straight winning session from momentum sparked by Donald Trump's election victory eclipsed a rise in bets for Federal Reserve easing. Cryptocurrency bitcoin also shot to a fresh record high of $93,480 overnight, and was rising back towards that level early … Read more
India's benchmark Nifty 50 index is set to open marginally higher on Thursday after sinking into correction territory in the previous session, while in-line U.S. inflation data boosted expectations of a Federal Reserve rate cut in December. The Gift Nifty futures were trading at 23,622 as of 08:18 a.m. IST, indicating that the benchmark Nifty … Read more
Total two-wheeler sales in the country surged by a robust 14.2 per cent to 21.64 lakh units in October this year, compared to 18.96 lakh units in October 2023, according to figures released by the Society of Indian Automobile Manufacturers (SIAM) on Wednesday. Passenger vehicle sales, including cars and SUVs, also increased to their highest … Read more
The adoption of Artificial Intelligence (AI) within Global Capability Centres (GCCs) in India is accelerating, with nearly 70 per cent of centres investing in generative AI (GenAI), according to a report on Wednesday. The EY India GCC Pulse Survey 2024, based on insights from 88 GCCs in India, reveals that 78 per cent of GCCs … Read more
The Indian stock market closed on a bearish note on Wednesday with significant declines across major indices. The Sensex fell by 984 points or 1.25 per cent to settle at 77,690, while the Nifty dropped 324 points or 1.36 per cent to close at 23,559. This week so far, Sensex was down 1,795 points or … Read more
Indian construction materials maker Prism Johnson on Wednesday posted a bigger-than-expected quarterly loss, as cement prices persistently declined and demand remained tepid. The company's consolidated net loss stood at 897.9 million rupees ($10.6 million) in the three months ended Sept. 30, marking a second straight quarter of losses. Prism Johnson had reported a net profit … Read more
The Indian stock market opened in red on Wednesday as selling was seen across sectors, except private banks, in early trade. Sensex was trading at 78,260 after slipping 414 points and Nifty was trading at 23,706 after dropping 167 points. The market trend remained negative. On the National Stock Exchange (NSE), 335 stocks were trading … Read more
India, which began its electric vehicle (EV) journey with two-wheelers, is set to become a “major producer" of electric vehicles like China in years to come, ace global investor Mark Mobius has said. The EV sales have seen a record surge under the PM E-DRIVE scheme, reflecting the growing momentum of EV adoption. Through initiatives … Read more