ITS HIGHEST LEVEL SINCE AUGUST
US military bases in Europe on high alert amid terror threat concerns
Several US military bases across Europe have heightened their security alert to Force Protection Condition "Charlie," indicating a significant terror threat. This measure, last seen over a decade ago, reflects growing concerns ahead of major events like the Paris Olympics and European football championships. European countries have ramped up security, with Germany and France taking extensive precautions to address potential dangers. Authorities advise vigilance amid these heightened threat levels.
Online gaming companies get summons for cashback to players since October
The agency detected reimbursements of taxed money back to players as cashback in a separate promo account by online gaming companies post implementation of the 28% GST (goods and services tax) on the full entry level betting amount. The DGGI Gurgaon has sent summons for a period between October 2023 and June 15, 2024, ET has learnt.
Japan's Nikkei closes at highest since mid-April as value shares rally
Japan's Nikkei share average rose on Tuesday to its highest close in more than two months, as investors shifted focus to value stocks from semiconductor and other high-tech, while a weaker yen also lent support to export-related shares.
Container rate surge enters longest stretch since the pandemic
Rates from Shanghai to Los Angeles have risen for seven weeks, reflecting the balance of supply and demand in the container market.
Delhi records highest minimum temperature in 60 years
Delhi on Wednesday experienced its highest minimum temperature in 60 years at 35.2 degrees Celsius, just 0.3 degrees lower than the 1964 record of 35.5 degrees Celsius. Despite forecasts of scattered rains, the city faced heatwave conditions for the 11th consecutive day, with Safdarjung recording a maximum temperature of 43.6 degrees Celsius. The temperature felt like 51 degrees Celsius.
As buyers diss cars, auto companies count on offers
Passenger car sales surged 8% to a record 4.22 mn units in FY24 but have moderated since amid the heat wave, a long election season and a high base. Going by current vehicle registration trends on the government's Vahan portal, June growth is expected to be either flat or negative. ET reported June 17 that inventory levels at dealerships across the country were at 55-60 days against the norm of 30 days seen at this time of the year.
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Exceptionally hot summer & low reservoir levels to likely impact vegetables, fruit crop: RBI
The Reserve Bank of India (RBI) warned on Wednesday that the exceptionally hot summer and low reservoir levels could stress the summer crops of vegetables and fruits, potentially disrupting efforts to control inflation. Governor Shaktikanta Das highlighted that while overall inflation eased, food prices remain volatile and elevated, complicating the inflation battle.
IT industry's competitive intensity to be at highest levels in FY25: HCLTech CEO C Vijayakumar
Despite a challenging economic environment, HCLTech has achieved remarkable annual growth and outpaced larger competitors. The third-largest software services firm, with annual revenues of $13.27 billion, reported growth that outpaced Tata Consultancy Services 4.1% and Infosys 1.4%. Smaller players such as Wipro and Tech Mahindra faced significant struggles.
F&O Radar: Deploy Bull Call Spread in JSW Steel to capitalize on potential up-move
From April onwards, JSW Steel prices have consistently formed higher highs, indicating an upward trend. On the downside, the stock has found support around the 830 levels.
Gold Price Today: Yellow Metal opens flat at Rs 73,239 per 10 grams, silver rises Rs 3,200 in a day
Gold and silver prices at MCX remained flat with gold opening at Rs 73,239 per 10 grams and silver at Rs 93,650/kg.
Braving icy heights: Election at world's highest polling station
The polling station at Tashigang, serving 62 voters from Tashigang and Gete, has been made a model polling booth.
Percentage of women in senior leadership roles increases to 18% in 2023 from 16% in 2016: Report
The report by LinkedIn and The Quantum Hub highlights that while there has been an increase in women joining the workforce, leadership positions still lack gender parity. The representation of women across the workforce rose to 26.8% in 2024, but senior leadership roles only account for 18.3%, showing a decline from the previous year. Industries like education and government administration have higher female leadership representation, while sectors like construction and utilities lag behind.
F&O Radar: Deploy Bull Call Ladder on Nifty to benefit from lower-level bounce
Nifty surged to a new all-time high of 23,110 before correcting slightly. With support near 22,500, it's expected to trade in a range of 22,500 to 23,000. Analysts recommend a Bull Call Ladder strategy amid capped upside and potential for bounce from lower levels.
Euro weakness drives pound to highest since August 2022
The euro dropped to as low as 84.48 pence, down 0.3%, at its lowest since August 2022, also trading lower against the dollar.
SUVs roar on country roads as sales from rural India sees a spike
Hyundai Motor's top three cars sold in rural India during January-April 2024 were all SUVs, nudging out the small car Grand i10 from the podium for the first time. SUVs such as Exter, Venue, and Creta accounted for two-thirds (67%) of Hyundai's rural sales in the first four months of the calendar year.
Virat Kohli reveals career-changing match in 2008, two heartbreaks of his cricketing journey
Speaking on one of his career's biggest heartbreaks, he revealed that not being able to win the 2016 ICC T20 World Cup and the IPL for his side was "heartbreaking" and the loss in the T20 WC drained him so much that he could not get out of his room.
Options Radar: Deploy Bull Call Spread on Axis Bank as outlook not very aggressive
Axis Bank has been in a broad range since November 23 and has been fluctuating between Rs 1,021.60 mark on the lower side, and Rs 1,150.95 on the upper side. The stock managed to breach the resistance one to create a new all-time high of Rs 1,182.90 on April 30.
Investors 'most bullish' since Nov 2021 - BofA survey
The survey of global fund managers with $562 billion in asset under management found 82% expect the first by the rate cut by the Federal Reserve in the second half, while 78% say a recession is unlikely over the next 12 months.
Euro at highest since 2008 on yen, markets nervous about Toyko stepping in
The yen hit fresh multi-year lows against the dollar and the euro on Tuesday, keeping investors on heightened intervention watch ahead of the Bank of Japan's meeting this week, while dovish policy maker chatter left sterling around its softest in months.
A Chinese official meets North Korean leader Kim in Pyongyang in highest-level talks in years
Chinese official Zhao Leji's visit to North Korea focused on strengthening ties, avoiding political discussions. The meeting aimed to boost economic aid, diplomatic support, and exchange cooperation, emphasizing the long-standing alliance between the two countries.
US stocks fall sharply to close out its worst week since October
The S&P 500 sank 1.5% to close out its worst week since October, when a huge rally on Wall Street began. The Dow Jones Industrial Average dropped 475 points, or 1.2%, and the Nasdaq composite fell 1.6% from its record set the day before.
Chinese official talks with North Korean counterpart in the nations' highest-level meeting in years
A top Chinese official, Zhao Leji, visited North Korea, marking the countries' highest-level meeting in about five years. Zhao, chairman of China's National People's Congress and a key figure in the ruling Communist Party, discussed boosting cooperation in politics, economy, and culture with his North Korean counterpart, Choe Ryong Hae. They also exchanged views on regional and international issues. This visit, the first involving a Chinese Politburo Standing Committee member since the pandemic began, indicates growing ties between the two countries.
Consumer confidence in India surges to highest level since mid-2019: RBI survey
A recent RBI survey shows that consumer confidence in India has surged to its highest level since mid-2019. Respondents expressed optimism about the current economic situation and future expectations. The survey also highlighted bright prospects for investment activity, with capacity utilisation in the manufacturing sector on the rise. The RBI MPC has decided to keep the repo rate unchanged at 6.5 percent.
Dollar index near highest level in four months; yen pinned close to 152
The Japanese yen was last at 151.8 per dollar, little recovered from last week's slump to 34-year lows of 151.975, as the Bank of Japan's historic policy shift only served to underscore its outlier status. While the BOJ raised rates for the first time in 17 years, its policymakers' commitments to go slow on further increases have hammered the yen especially given the still-wide Japan-U.S. yield gap.
India's sunoil imports hit second-highest level as palm oil retreats
India's sunflower oil imports surged by 51% in March, hitting the second-highest level on record, driven by lower prices prompting refiners to increase purchases and reduce buying of palm oil. This shift could cap the rally in palm oil futures, while higher sunflower oil imports are expected to reduce Black Sea region inventories.
Hong Kong reports its highest march temperature in 140 years
The maximum temperature measured at the Observatory was 31.5 degrees Celsius (88.7 degrees Fahrenheit) - the highest reported during the month of March since records began in 1884 - while it surged to above 32 degrees Celsius in the northern areas of the territory close to the mainland Chinese city of Shenzhen.
Sterling climbs to highest since August with Fed, ECB cuts weighing
Sterling rose on Friday against a weakening euro and dollar after signs that the European Central Bank (ECB) and the U.S. Federal Reserve might be closer to cutting interest rates than the Bank of England (BoE).
Ethereum surges past $3,800, hits highest level since January 2022
In a notable surge within the cryptocurrency market, Ethereum (ETH) has surpassed the $3,800 mark, reaching a peak above $3,860 in Wednesday's trade, marking its highest level since January 2022.
Bitcoin rally pushes token to highest level since May 2022
Bitcoin has risen more than 133% so far this year, outperforming gains in many other traditional sectors as investors favored exposure to riskier assets. Traders are optimistic that the US Securities and Exchange Commission might soon approve the country’s first exchange-traded fund tied directly to Bitcoin.
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