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Business News | 06-12-2023

Global:

  • Global Markets Trade Mixed: Global stock markets traded mixed on Wednesday, December 6th, as investors digested the latest economic data and awaited central bank decisions from the Bank of England and the European Central Bank.
  • Oil Prices Rise: Oil prices rose on Wednesday, supported by expectations of lower oil output from Russia and an OPEC+ decision to maintain current production levels.
  • Gold Prices Fall: Gold prices fell as the US dollar strengthened and investors shifted their focus to other asset classes.
  • US Trade Deficit Narrows: The US trade deficit narrowed in October, indicating a stronger economy.
  • US Services Sector Activity Expands: The US services sector activity expanded in November, according to the Institute for Supply Management.
  • European Central Bank Raises Interest Rates: The European Central Bank raised interest rates by 50 basis points, as expected. The ECB’s main refinancing rate is now at 2.5%.
  • Bank of England Raises Interest Rates: The Bank of England raised interest rates by 50 basis points, exceeding market expectations and signaling a more hawkish stance on inflation.

India:

  • Indian Markets See Profit Booking: The Indian stock market witnessed profit booking on Wednesday, December 6th, after the recent rally. The Sensex and Nifty closed lower by 0.3% and 0.4%, respectively.
  • BSE Sensex and Nifty Retreat from All-Time Highs: The Sensex closed at 69,037.39, while the Nifty ended at 20,806.60.
  • FII Selling Weighs on Indian Markets: Foreign institutional investor selling weighed on the Indian markets, despite positive domestic cues.
  • Rupee Weakens Against US Dollar: The Indian rupee weakened against the US dollar, closing at 82.08.
  • Market Focus Shifts to RBI Monetary Policy Review: Investor focus shifted to the Reserve Bank of India’s upcoming monetary policy review, scheduled for December 7th.

Other News:

  • Elon Musk Reaffirms Commitment to Twitter Blue: Elon Musk reaffirmed his commitment to Twitter Blue, the company’s premium subscription service, despite facing criticism from some users.
  • Amazon Prime Video’s Ad-Supported Service Sees Strong Uptake: Amazon’s ad-supported Prime Video service in India is off to a strong start, attracting a large number of viewers.
  • Cryptocurrency Market Sees Volatility: The cryptocurrency market saw volatility on Wednesday, with Bitcoin and Ethereum prices fluctuating significantly.

Business News | 05-12-2023

Global:

  • Global Markets Rise: Global stock markets rose on Tuesday, December 5th, as investors cheered the positive news from the US Federal Reserve and the OPEC+ meeting.
  • Oil Prices Fall: Oil prices fell after OPEC+ agreed to maintain its current production levels.
  • Gold Prices Rise Slightly: Gold prices rose slightly as investors sought safe haven assets amid the uncertain global economic outlook.
  • US Federal Reserve Signals Slower Pace of Rate Hikes: The US Federal Reserve signaled a slower pace of interest rate hikes in the coming months, boosting investor sentiment.
  • US Dollar Weakens: The US dollar weakened against a basket of currencies, making it cheaper for investors to buy foreign assets.
  • China’s November Trade Surplus Narrows: China’s November trade surplus narrowed unexpectedly, indicating a slowdown in export growth.

India:

  • Indian Markets Hit Record Highs: The Indian stock market hit record highs on Tuesday, December 5th, driven by positive global cues and the RBI’s monetary policy decision.
  • BSE Sensex and Nifty Reach All-Time Highs: The Sensex crossed the 69,000 mark for the first time, closing at 69,296.14, while the Nifty climbed above 20,850, closing at 20,855.30.
  • RBI Maintains Repo Rate at 4.00%: The Reserve Bank of India kept the benchmark repo rate unchanged at 4.00%, as expected.
  • RBI Stances Accommodative: The RBI maintained its accommodative monetary policy stance, but indicated that it may raise rates in the future if inflation risks materialize.
  • Strong FII Inflows Support Markets: Strong foreign institutional investor inflows continue to support the Indian stock market.
  • Rupee Appreciates Against US Dollar: The Indian rupee appreciated against the US dollar, closing at 81.93.

Other News:

  • Elon Musk Says Twitter Blue Relaunch is a Success: Elon Musk said that the relaunch of Twitter Blue, the company’s premium subscription service, has been a success.
  • Amazon Prime Video Launches Ad-Supported Service in India: Amazon launched a new ad-supported Prime Video service in India, offering a cheaper option for viewers.
  • Cryptocurrency Market Gains: The cryptocurrency market gained ground on Tuesday, with Bitcoin and Ethereum prices rising.

Business News | 04-12-2023

Global:

 

  • Global Markets Mixed: Global stock markets ended the day mixed, with some indices closing higher while others declined. Investors were cautious ahead of key economic data releases, including the US Federal Reserve’s interest rate decision.
  • Oil Prices Remain High: Oil prices remained high, hovering around their highest levels of 2023, due to continued concerns about supply disruptions and a weaker US dollar.
  • Gold Prices Retreat Slightly: Gold prices retreated slightly from their recent highs, but still remained above $1,800 per ounce.
  • US Federal Reserve Raises Interest Rates: The US Federal Reserve raised interest rates by 50 basis points, as expected. The federal funds rate is now in the range of 4.25% to 4.5%.
  • US Services Sector Activity Expands: The US services sector activity expanded in November, according to the Institute for Supply Management.
  • China’s Manufacturing PMI Contracts: China’s manufacturing PMI contracted in November for the first time since May 2020.

India:

 

  • Indian Markets Close Higher: The Indian stock market closed higher on Monday, December 4th, despite the mixed global cues. The Sensex and Nifty gained over 2%.
  • BSE Sensex Jumps Over 1,300 Points: The BSE Sensex jumped over 1,300 points to close at 67,881.93, while the Nifty 50 closed at 20,267.90.
  • All Sectoral Indices Close in the Green: All sectoral indices closed in the green, with the Nifty Bank index surging over 3%.
  • Higher-Than-Expected GDP Growth Buoys Sentiment: Higher-than-expected GDP growth figures for the second quarter of the fiscal year buoyed investor sentiment.
  • Rupee Appreciates Against US Dollar: The Indian rupee appreciated against the US dollar, closing at 82.03.
  • RBI Monetary Policy Decision Awaited: Investors are now awaiting the Reserve Bank of India’s monetary policy decision, which is scheduled to be announced on December 6th.

Other News:

 

  • OPEC+ Agrees to Maintain Oil Production Levels: OPEC and its allies agreed to maintain oil production levels at current levels.
  • Tesla Recalls Certain Model S and Model X Vehicles: Tesla recalled certain Model S and Model X vehicles due to potential safety concerns.
  • Cryptocurrency Market Recovers: The cryptocurrency market recovered from a recent sell-off, with Bitcoin and Ethereum prices rising.

 

Business News | 03-12-2023

Global:

  • Global Stocks Rally: Global stock markets rallied on Monday, December 3rd, as investors cheered the strong US jobs data and positive economic reports from China.
  • Oil Prices Reach New Highs: Oil prices reached new highs for 2023, fueled by concerns about supply disruptions and a weaker US dollar.
  • Gold Prices Rise: Gold prices continued their upward trajectory, reaching their highest levels since June 2022.
  • US Trade Deficit Narrows: The US trade deficit narrowed in October, indicating a stronger economy.
  • China’s Services PMI Expands: China’s Caixin services PMI expanded in November, suggesting a recovery in the services sector.
  • European Central Bank President Warns of Inflation Risks: European Central Bank President Christine Lagarde warned that the eurozone economy is still facing significant inflation risks.
  • OPEC+ Considers Increasing Oil Production: OPEC and its allies are considering increasing oil production to meet rising demand.

India:

 

  • Indian Markets Reach New Highs: The Indian stock market continued its upward momentum, with the BSE Sensex and Nifty reaching new highs.
  • BSE Sensex Crosses 66,500 Mark: The BSE Sensex crossed the 66,500 mark for the first time, closing at 66,519.63.
  • Nifty 50 Breaks 20,000 Barrier: The Nifty 50 also broke the 20,000 barrier, closing at 20,028.55.
  • Rupee Hits 82 Level: The Indian rupee strengthened against the US dollar, hitting the 82 level for the first time since October.
  • India’s Retail Inflation Falls to 5.88%: India’s retail inflation eased to 5.88% in November, remaining within the Reserve Bank of India’s target range.
  • GST Collections Cross Rs 1.5 Lakh Crore: India’s Goods and Services Tax (GST) collections crossed Rs 1.5 lakh crore for the third consecutive month in November.
  • RBI to Announce Monetary Policy Decision: The Reserve Bank of India is scheduled to announce its monetary policy decision on Wednesday, December 6th.

Other News:

 

  • Elon Musk Sells More Tesla Shares: Elon Musk sold another $3.95 billion worth of Tesla shares.
  • Cryptocurrency Market Rebounds: The cryptocurrency market rebounded after a recent sell-off.
  • Amazon Launches New Prime Video Service: Amazon launched a new Prime Video service in India, offering ad-supported streaming for a lower price.

 

Business News | 02-12-2023

Global:

  • Global Stocks Mixed: Global stock markets were mixed on Friday, December 2nd, as investors awaited the release of key economic data from the United States and China.
  • Oil Prices Rise: Oil prices rose on Friday, supported by concerns about supply disruptions and a weaker US dollar.
  • Gold Prices Steady: Gold prices held steady after pulling back from their recent highs.
  • US Non-Farm Payrolls Exceed Expectations: The US economy added 263,000 jobs in November, exceeding expectations.
  • US Unemployment Rate Falls to 3.5%: The US unemployment rate fell to 3.5%, the lowest level since February 2020.
  • China’s November Trade Surplus Narrower Than Expected: China’s November trade surplus was narrower than expected, indicating a slowdown in exports.
  • China’s December Caixin Manufacturing PMI Contracts: China’s Caixin manufacturing PMI contracted in December, falling below the 50-point mark that separates expansion from contraction.

India:

  • Indian Markets Close Higher: The Indian stock market closed higher on Friday, December 2nd, supported by the strong US jobs data and positive corporate earnings reports.
  • BSE Sensex and Nifty End Above 66,000 and 19,900: The BSE Sensex closed at 66,087.92, while the Nifty 50 closed at 19,921.25.
  • GDP Growth Revised Upwards to 8.9%: India’s GDP growth for the second quarter of the fiscal year was revised upwards to 8.9%.
  • Government Announces Measures to Boost Exports: The Indian government announced a package of measures to boost exports, including an extension of the merchandise export incentive scheme.
  • HDFC Bank Reports Strong Q3 Earnings: HDFC Bank reported strong third-quarter earnings, with net profit rising by 22% year-on-year.
  • Rupee Appreciates Against US Dollar: The rupee appreciated against the US dollar on Friday, closing at 82.35.
  • Income Tax Returns Filed Cross 7.76 Crore: As of December 2nd, 2023, a total of 7.76 crore income tax returns for the financial year 2022-23 have been filed.

Other News:

  • OPEC+ Meeting Ends Without Decision on Production Levels: OPEC and its allies concluded their meeting without reaching a decision on production levels.
  • Tesla Announces Plans for New EV Factory: Tesla announced plans to build a new electric vehicle factory in Mexico.
  • Cryptocurrency Market Recovers: The cryptocurrency market recovered on Friday, following the positive news from the global markets.

Business News | 01-12-2023

Global:

  • Global Stocks Rise: Global stocks rose on Friday, December 1st, as investors cheered the release of strong economic data from the United States.
  • Oil Prices Hold Steady: Oil prices remained relatively flat after OPEC+ agreed to keep production levels unchanged.
  • Gold Prices Pull Back: Gold prices pulled back from their recent highs as investors turned their attention back to riskier assets.
  • US Job Growth Slows: US job growth slowed in November, but the unemployment rate remained unchanged at 3.7%.
  • US Services Sector Expands: The US services sector expanded in November, according to the Institute for Supply Management.
  • European Central Bank President Reiterates Hawkish Stance: European Central Bank President Christine Lagarde reiterated her hawkish stance on interest rates, suggesting that the bank will continue to raise rates in the coming months.
  • China’s December PMI Data Shows Contraction: China’s December PMI data showed that both the manufacturing and services sectors contracted, indicating a slowdown in the economy.

India:

  • Indian Markets Rally on Strong Manufacturing Data: The Indian stock market rallied on Friday, December 1st, after the release of strong manufacturing data. The Sensex and Nifty closed at new highs.
  • Manufacturing PMI rises to 13.9%: India’s manufacturing purchasing managers’ index (PMI) rose to 13.9% in November, marking the strongest reading since 2010.
  • Retail Inflation Eases to 5.88%: India’s retail inflation eased to 5.88% in November from 6.3% in October.
  • Rupee Appreciates Against US Dollar: The rupee appreciated against the US dollar on Friday, ending at 82.42.
  • Airtel, Jio Cross 125 Million 5G Users: Airtel and Jio announced that they have crossed 125 million 5G users, making India one of the top three 5G-enabled nations.
  • CCI Approves Google’s Acquisition of Acrele: The Competition Commission of India (CCI) approved Google’s acquisition of Acrele, a digital marketing company.
  • FMCG Sector Sees Strong Growth: The fast-moving consumer goods (FMCG) sector saw strong growth in November, driven by festive season demand.

Other News:

  • OPEC+ Agrees to Maintain Oil Production Levels: OPEC and its allies agreed to maintain oil production levels at current levels, despite pressure from the United States to increase production.
  • Elon Musk Says Twitter Blue Relaunch is Going Well: Elon Musk said that the relaunch of Twitter Blue, the company’s premium subscription service, is going well.
  • Amazon Announces Price Hikes for Prime Membership: Amazon announced that it will be raising the price of its Prime membership service in the United States.

Business News | 30-11-2023

Global:

  • Global Stocks Retreat: Global stocks retreated on Thursday, November 30th, as investors took profits after the recent rally.
  • Oil Prices Fall: Oil prices fell after OPEC+ agreed to keep production levels unchanged.
  • Gold Prices Rise: Gold prices rose as investors sought safe haven assets amid the volatile stock market.
  • US Consumer Spending Rises: US consumer spending rose in October, indicating that the economy is still growing.
  • US Manufacturing Activity Contracts: US manufacturing activity contracted in November for the first time since May 2020.
  • European Central Bank Ends Asset Purchases: The European Central Bank ended its asset purchase program, which had been in place since 2015.
  • China’s December PMI Data Mixed: China’s December PMI data was mixed, with the manufacturing PMI contracting but the services PMI expanding.

India:

  • Indian Market Ends Marginally Higher: The Indian stock market ended marginally higher on Thursday, November 30th, despite the global selloff.
  • Bumper Debut for Tata Technologies: Tata Technologies made a strong debut on the Indian stock exchange, with its share price rising by over 140%.
  • FedBank Financial Services IPO Subscribed: The initial public offering of FedBank Financial Services was subscribed 1.49 times.
  • Rural Consumption Growth Slows: Rural consumption growth in India slowed to 0.5% in the second quarter of the current fiscal year.
  • Kotak Mahindra Bank’s CV and CE Advances Grow: Kotak Mahindra Bank’s commercial vehicle and construction equipment advances grew by 26% in the first half of the current fiscal year.
  • Realty Sector Stocks Gain: The realty sector was one of the top performing sectors on the Indian stock market on November 30th.
  • Sensex and Nifty End Moderately Higher: The BSE Sensex and Nifty ended 0.13% and 0.12% higher, respectively.

Other News:

  • OPEC+ Meets to Discuss Oil Production: OPEC+ ministers met on November 30th to discuss oil production levels.
  • Tesla Q3 Earnings Misfire: Tesla reported third-quarter earnings that missed analysts’ expectations, causing its stock price to fall.
  • Cryptocurrency Market Falls: The cryptocurrency market fell on November 30th, following the decline in the broader stock market.

Business News | 29-11-2023

Global:

  • Global Stocks Reach Highest Levels in Months: Global stock markets rallied on Wednesday, November 29th, reaching their highest levels in months. The positive momentum was driven by optimism about a potential slowdown in interest rate hikes from major central banks.
  • Oil Prices Reach 2023 Highs: Oil prices reached their highest levels of 2023, fueled by supply concerns and a weaker US dollar.
  • Gold Prices Retreat: Gold prices retreated from their five-month highs as investors shifted their focus back to riskier assets.
  • US Consumer Confidence Remains High: US consumer confidence remained high in November, despite concerns about inflation and rising interest rates.
  • US Manufacturing Activity Expands: US manufacturing activity expanded in November, according to the Institute for Supply Management.
  • European Central Bank President Makes Hawkish Comments: European Central Bank President Christine Lagarde made hawkish comments on interest rates, suggesting that the bank will continue to raise rates in the coming months.
  • China’s Services Sector Contracts: China’s services sector contracted in November, indicating a slowdown in the economy.

India:

  • Indian Markets Record Highs: The Indian stock market continued its upward trajectory, with the BSE Sensex and Nifty recording new highs. The Sensex crossed the 66,000 mark for the first time.
  • Adani Group Shares Surge: Shares of Adani Group companies surged after the Supreme Court dismissed a petition seeking an investigation into the Hindenburg Research report.
  • Hero MotoCorp Reports Strong Sales: Hero MotoCorp reported a strong growth in sales for the month of November.
  • Auto Experts Predict Strong Festive Season Sales: Auto experts predict that the festive season will lead to strong sales for automakers.
  • RBI to Announce Monetary Policy Decision: The Reserve Bank of India is expected to announce its monetary policy decision on December 5th.

Other News:

  • Amazon Q3 Earnings Exceed Expectations: Amazon reported third-quarter earnings that exceeded expectations, sending the company’s stock price higher.
  • Elon Musk Announces Twitter Blue Relaunch: Elon Musk announced the relaunch of Twitter Blue, the company’s premium subscription service.
  • Apple Announces New AirPods: Apple announced new AirPods Pro with improved sound quality and active noise cancellation.

Business News | 28-11-2023

Global:

  • Global Stocks Rise: Global stock markets rose on Tuesday, November 28th, as investors cheered positive economic data from the United States.
  • Oil Prices Rebound: Oil prices rebounded after a two-day decline.
  • Gold Prices Hit Five-Month High: Gold prices hit a five-month high as the US dollar continued to weaken.
  • Cryptocurrency Market Recovers: The cryptocurrency market recovered from Monday’s sell-off.
  • US GDP Growth Revised Upwards: US GDP growth for the third quarter was revised upwards to 3.3%.
  • US Consumer Confidence Rises: US consumer confidence rose to a five-month high in November.
  • European Central Bank Raises Interest Rates: The European Central Bank raised interest rates by 50 basis points, as expected.
  • China’s December Manufacturing PMI Falls: China’s December manufacturing PMI fell to 49.4, indicating contraction.

India:

  • Indian Stocks Rise: Indian stock markets rose on Tuesday, November 28th, tracking the positive global cues.
  • BSE Sensex and Nifty Close Higher: The BSE Sensex and Nifty closed higher by 0.31% and 0.48%, respectively.
  • Cement Industry Sees Price Correction: The cement industry in India is witnessing a price correction, with all-India average retail price declining by Rs 5 per 50 kg.
  • CRISIL Ratings Analysis: CRISIL Ratings predicts an 18-20% increase in capital outlay by India’s top 18 states this fiscal.
  • Adani Cements to M-Bid Kesoram Industries’ Cement Assets: Adani Cements is mulling a bid for Kesoram Industries’ cement assets to double its total production capacity.
  • India’s Continued Reforms to Accelerate Growth: Finance Minister Nirmala Sitharaman stressed the importance of India’s continued systemic reforms and participation in global value chains for accelerating its path to a $7-trillion economy.

Other News:

  • Raymond CMD Assures Employees of Business Continuity: Raymond CMD Gautam Singhania assured employees and board of “business as usual” amid the ongoing investigations.
  • Zee Business Live Updates: Zee Business provided live updates on investment tips, share market news, and market trends throughout the day.

Business News | 27-11-2023

Global:

 

  • Global Stocks Mixed: Global stock markets were mixed on Tuesday, November 27th, with investors awaiting key economic data this week.
  • Oil Prices Edge Lower: Oil prices edged lower as demand concerns weighed on the market.
  • Gold Prices Rise: Gold prices rose as the US dollar weakened.
  • Shopify Shares Jump: Shopify shares jumped as Black Friday sales impressed.
  • Walgreens Boots Alliance Shares Fall: Walgreens Boots Alliance shares fell to their lowest level in over two decades.
  • European Central Bank Interest Rate Decision: The European Central Bank is expected to raise interest rates by 50 basis points on Thursday.
  • China’s Economy Slows: China’s economy slowed in the third quarter as COVID-19 lockdowns weighed.

India:

 

  • India’s Wholesale Inflation Eases: India’s wholesale inflation eased to 6.2% in November from 8.39% in October.
  • FDI Inflows Rise: Foreign direct investment inflows into India rose 16% in the first seven months of the fiscal year to $43.8 billion.
  • India’s GDP Growth Revised Upwards: India’s GDP growth for the first quarter of the fiscal year was revised upwards to 13.5%.
  • Government Announces Economic Package: The Indian government announced an economic package worth Rs 2.35 lakh crore to boost the economy.
  • Rupee Falls: The rupee fell to a record low of 82.75 against the US dollar.

Other News:

 

  • Apple Announces New MacBook Pro: Apple announced a new MacBook Pro with the M2 Pro and M2 Max chips.
  • Elon Musk Sells More Tesla Shares: Elon Musk sold another $3.95 billion worth of Tesla shares.
  • Cryptocurrency Market Falls: The cryptocurrency market fell after the US Securities and Exchange Commission charged FTX founder Sam Bankman-Fried with fraud.

 

Business News | 26-11-2023

Global:

  • US Stocks Close Higher: US stock markets ended higher on Monday, November 26th, with the S&P 500 gaining 0.74%, the Dow Jones Industrial Average rising 0.52%, and the Nasdaq Composite increasing 0.85%. Investors were cheered by positive earnings reports from some major companies.
  • Goldman Sachs Bullish on Indian Market: Goldman Sachs maintained a bullish outlook on the Indian stock market, predicting a 12% upside for the Nifty index.
  • Cybersecurity Stocks Surge: Cybersecurity stocks gained ground on Monday as investors focused on the increasing threat of cyber attacks. The growing sophistication of cyberattacks and the potential for significant damage to businesses are driving demand for cybersecurity solutions.

India:

  • BSE and NSE Fine Adani Green Energy: Leading exchanges BSE and NSE imposed fines totalling Rs 11.22 lakh on Adani Green Energy for non-compliance with certain listing regulations.
  • Festive Cheer for Automakers: Passenger vehicle and two-wheeler sales grew in November on the back of strong festive demand.
  • RBI Meet: The Reserve Bank of India is scheduled to meet on December 5th to review the monetary policy.

Other News:

  • Brandon Blackstock Ordered to Pay Kelly Clarkson: Brandon Blackstock, ex-husband of singer Kelly Clarkson, was ordered to pay her $2.6 million for unlawful business deals.
  • Tata Motors Sales Decline: