BUSINESS
Crypto market saw illicit transactions of $70 bn in 5 years: Report
According to data presented by AltIndex.com, illicit crypto transactions increased by 308 per cent since 2017.
India, Saudi Arabia to set up investment promotion offices in respective nations
This would encourage Saudi sovereign wealth funds to consider direct investments into India in addition to the current inflow of investments through funds, and possibility of joint projects, commerce ministry sources said.
PSU stocks lead selling in small and mid-cap indices
Except for IT and pharma, all sectors ended in red. Investors await key domestic data, including CPI and IIP numbers, to be released on Tuesday evening. Globally as well, investors await key US inflation data to be announced on Wednesday for clues on the Federal Reserve’s policy outlook.
Broad market indices may take time to find a bottom
While Nifty may not fall much in the near term, the broad market indices may take time to find a bottom. Nifty could remain in the 20110-19865 band for the near term, he added.
SpiceJet disburses Rs 100 cr to Kalanithi Maran as part of arbitral award
"SpiceJet Ltd. has completed the payment of Rs 100 crore to Kal Airways Private Limited. While a payment of Rs 77.5 crore had been made to Kal Airways till September 11, the remaining Rs 22.5 crore was paid on Tuesday," said the airline spokesperson.
Correction in overheated mid and small-cap stocks dampen market sentiment
The correction is happening on mid-caps, while large-caps are maintaining their strength, he said.
Global telecom equipment market grows 2% only in 1st half of 2023: Report
According to the market research firm Dell’Oro Group, the worldwide telecom equipment revenues, excluding North America, increased by 7 per cent in the first half, supporting the thesis that the telecom equipment market remains robust outside of the US.
Chinese brands hit at Indian TWS earbuds brands' dominance, capture 17% share
Chinese brands captured a 17 per cent market share -- the highest ever in the past seven quarters -- driven by OnePlus’ newly launched device Nord Buds 2. OPPO, realme, and Xiaomi also supported the growth of Chinese brands, according to Counterpoint Research.
Strong bull run has further scope of upside movement in coming days
The broader markets have indicated tremendous strength with the ongoing strong bull run and has further immense scope of upside movement in the coming days, Parekh said, adding the support for the day is seen at 19,850 levels while the resistance is seen at 20,150 levels.
Corporate investments down for 2nd successive quarter in 1QFY24
The government sector accounted for 16.6 per cent of total investments in 1QFY24, up from 12 per cent in 1Q of the past three years and 10 per cent in the past decade.
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