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The decision by CoinSwitch to halt UPI acceptance resulted from "regulatory uncertainty" after the NPCI statement. Big Indian crypto exchanges CoinSwitch Kuber and WazirX have disabled rupee deposits for the purchase of  cryptocurrency   using a widely-used state-backed transfer system, spurring users to voice concern on social media. India has spent years on a law to ban or regulate cryptocurrencies, with its central bank backing a ban over their threat to... read more

Hackers stole about $600 million from a blockchain network connected to the popular Axie Infinity online game in one of the biggest crypto attacks to date Hackers stole about $600 million from a blockchain network connected to the popular Axie Infinity online game in one of the biggest crypto attacks to date. Computers known as nodes operated by Axie Infinity maker Sky Mavis and the Axie DAO that support a... read more

  Puneet Wadhwa talks to Marc Faber, editor and publisher of 'The Gloom, Boom & Doom Report' on how investors should approach the markets next year and his investment strategies Q: It has been all boom in the global equity markets for the most part of 2021 . Will they perform with the same enthusiasm in 2022 as well? -Enthusiasm of investors will not vanish overnight; in India it will stay high for a while -Indian economy still expanding despite headwinds; can outperform the world -Globally, we need a market correction -Too much optimism among investors, especially those who do not have experience Q: Equities, commodities, cryptos, inflation – everything is on a rise. Will it all end badly for the investors in a year or two from now ? -Value stocks have underperformed across the globe -FANG, FANG-related stocks, stocks like Tesla and semiconductor stocks did well in the US -Market and hedge fund favourite will underperform; money will shift to valu...

  The rates of gold remained unchanged on Friday while the price of silver decreased by Rs 300 per kg. The price of 10 gram of gold remained unchanged on Friday, with 24-carat of it trading at Rs 47,840 and 22-carat at Rs 46,840. The price of 1 kg of silver decreased by Rs 300, trading at Rs 61,600 this morning. In Delhi, the price of 24-carat gold stands at Rs 51,390, while in Mumbai it is at Rs 47,840, according to the Goodreturns website. The price of 10 gram of 22-carat gold in Delhi and Mumbai is at Rs 47,100 and Rs 46,840, respectively. In Chennai, 10 gram of 24-carat gold is selling at Rs 49,250 on Friday, while 10 gram of 22-carat gold is selling at Rs 45,140. In Kolkata, 24-carat gold is selling at Rs 49,800, while 22-carat gold's price is at Rs 47,100, as per the Goodreturns website. The price of gold varies across the country due to excise duty, state taxes, and making charges. In Chennai, the price of 1 kg of silver is at Rs 65,500 o...

  The stock listed at Rs 845, 6 per cent below its issue price of Rs 900 per share on the National Stock Exchange Star Health and Allied Insurance Company (Star Health) made a weak stock market debut with its equity shares getting listed at Rs 845, a 6 per cent discount to its issue price of Rs 900 per share on the National Stock Exchange (NSE). On the BSE, the stock opened at Rs 848.80, the exchange data shows. Ace investor Rakesh Jhunjhunwala is a promoter of Star Health, which is India's first and largest private standalone health insurance company. At 10:01 am, the stock was trading at Rs 875.20, after hitting a high of Rs 899 on the BSE in the intra-day trade. On the downside, it hit a low of Rs 827.50 intra-day. On the NSE, the stock hit a high of Rs 895 and a low of Rs 828. A combined 2.6 million shares had changed hands on the NSE and BSE till the time of writing of this report. Star Health, the largest private-sector health insurance company, got poor...

  Bajaj Electricals is currently engaged in the consumer product (CP) segment and engineering procurement and construction segment (EPC) segment Shares of Bajaj Electricals surged 11 percent to Rs 1,159.95 on the BSE in Friday’s intra-day trade after the household appliances company announced that its board approved business restructuring. At 10:36 am, Bajaj Electricals was up 8 percent at Rs 1,134 on the BSE. In comparison, the S&P BSE Sensex was down 0.31 percent at 58,624. The stock had hit a 52-week high of Rs 1,588.55 on September 17, 2021. The trading volumes at the counter jumped over five-fold with a combined around 1.4 million equity shares changing hands on the NSE and BSE. “The board of directors of the company, at its meeting held on December 9, 2021, has authorized some of the directors and officials of the company to review the corporate structure of the company to unlock growth and value creation for all business segments (restructuring),” Baja...

  The Rs 660-crore initial share-sale received bids for 13,600,818 shares against 8,475,000 shares on offer The initial public offer of Anand Rathi Wealth Limited , part of Mumbai-based financial services group Anand Rathi, was fully subscribed on the first day of subscription on Thursday. The Rs 660-crore initial share-sale received bids for 1,36,00,818 shares against 84,75,000 shares on offer, translating into 1.60 times subscription, according to NSE data. The category for Retail Individual Investors (RIIs) received 2.45 times subscription, non-institutional investors portion garnered 1.93 times subscription and Qualified Institutional Buyers (QIBs) 1 per cent. The company's initial public offer is of up to... ipo details

E-commerce giant Amazon also is among the fastest as it went public in just three years. HDFC Bank is the fastest among 100 global companies to have gone public. The gap between its incorporation and listing was less than a year, shows a study done by Tide, a UK-based financial platform. The second quickest was Chinese beverage firm Kweichow Moutai, which took two years to launch an IPO. E-commerce giant Amazon also is among the fastest as it went public in just three years. Meanwhile, the slowest was luxury goods firm Hermès, founded in 1837 and listed 162 years later. The other Indian firms in the top 100 global list are... know more

Brent crude futures for February were up $2.08, or 3%, at $71.31 a barrel at 1445 GMT.   Oil prices rallied on Wednesday after recent sharp drops as major producers started to discuss future output against the backdrop of a new coronavirus variant triggering fresh travel restrictions that could dampen oil demand. Equity markets , which often move in tandem with oil prices, also rebounded as investors bought the previous session's dip in the hope the Omicron variant would not derail an economic recovery. Brent crude futures for February were up $2.08, or 3%, at $71.31 a barrel at 1445 GMT. U.S. West Texas Intermediate (WTI) crude futures rose $2.06, or 3.1%, to $68.24 a barrel. Both contracts retraced some of their gains after an... read more

The final amount raised will depend upon how much of additional amount government decides to retain The fourth tranche of Bharat-22 exchange traded fund (ETF) was subscribed 27 times over the initial amount allocated for the anchor book. Also known as the further fund offer 2 or FFO 2, the ETF raised Rs 13,569 crore through anchor investors. The non-anchor book will be open for subscription on Friday. The final amount raised will depend upon how much of additional amount government decides to retain. The ETF is being managed by ICICI Mutual Fund.

Derivative call by Nandish Shah, Senior Technical & Derivative Analyst, HDFC securities Buy Tata Motors October 125 Call at Rs 7 | Stop loss Rs 4.5 | Target Rs 13 Rationale : -- We have seen long build up in the Tata Motor futures’, where we have seen rise in Open Interest with price rising by 6 per cent. -- Stock price formed bullish engulfing pattern on the daily chart -- RSI oscillator has formed positive divergence on the daily and weekly chart -- RSI oscillator has formed positive divergence on the daily and weekly chart.

Commodities Outlook and stock recommendation by Bhavik Patel - Sr. Technical Analyst (Commodities), Tradebulls Securities Market news : Dollar : The index has rallied to 2 years high limiting gains in Rupee. Low crude oil prices will help rupee but Chinese yuan has started depreciating against strong US dollar so gain in our rupee is limited. Despite strong recovery in Equity market and weak crude oil prices, Indian rupee weakened on account of a strong dollar. FII inflow is also expected because of the IRCTC IPO. For the week, Indian rupee is expected to trade in a range of 70.50-71.90. Gold : We are short-term bearish on gold but very bullish for the long-term. Trump’s impeachment news is making investors flocking to safe haven US dollar. Geopolitical risk in Middle East has subsided so gold’s shine is fading. Gold is struggling because of a strong US dollar which is trading at 2 years high above 99. Next support for gold comes at $1450 and $1435 while in MCX Dec contract 36,6...

Technical Calls by Gaurav Garg, Head of Research at CapitalVia Global Research Limited- Investment Advisor Market news : Nifty managed to hold 11,300 level amid weekly expiry and weaker global scenario; all eyes on Friday as RBI to announce monetary policy Markets traded with higher volatility on Thursday, weaker global cues made adverse impact on the market but somehow the index managed to hold 11,250 and managed to close at 11,314.00 shading 45.90 points. Media and realty stocks traded with positive sentiments throughout the day, but metal and banks especially private banks showed weakness which dragged markets down. Niftybank closed at 28,414.10 that is 311.40 points lower from the previous day’s closing. As per monthly option data, Put writing was seen on strikes ranging from 11,000 to 11,400 which shows Nifty is likely to take support in sub-11,200 zone. Call writing on higher strikes shows there will be congestion above 11,400, where Nifty may face resistance. Traders ...

Interest rate-sensitive stocks, like automobiles and financials, could thus see major movements today Market news : Top factors that could drive markets today Investors should expect another volatile trade today, as markets eye the Reserve Bank of India's bi-monthly monetary policy decision. While a rate cut is already priced-in, the quantum, growth outlook and comments thereafter, by the governor, on further policy easing will set the tone for markets. Interest rate-sensitive stocks, like automobiles and financials, could thus see major movements today. Besides, market participants will watch out for Services PMI data... read more

Here's a look at the top stocks that may trade actively in today's session. Market news : At 08:28 am, Nifty futures on the Singapore Exchange (SGX) were trading 25 points or 0.22 per cent higher at 11,384, indicating a positive start for the Indian market on Friday. Here's a look at the top stocks that may trade actively in today's session - HDIL: The economic offences wing (EOW) of the Mumbai police arrested Housing Development & Infrastructure (HDIL) promoter Rakesh Wadhawan and his son Sarang Wadhawan on Thursday in connection with the Punjab and Maharashtra Co-operative (PMC) Bank scam. BPCL: The international Credit Rating Agency Moody's on Thursday warned of downgrading Bharat Petroleum Corporation (BPCL) to Ba1, if the government goes ahead with privatisation by selling its stake to... read more

Stock calls and Outlook on Nifty by Mr. Sameet Chavan, Chief Analyst- Technical & Derivatives, Angel Broking Ltd. Market news :    Market extends gains but momentum seems to have disappeared On September 20, market took a giant leap after FM’s announcement on slashing corporation taxes. All of a sudden, the tide turned upwards and before anyone could realise, the Nifty was well above 11,200. Since it was predominantly a short squeezing move, markets were not done with such sharp one day spurt. Expectedly, we had a good bump up on Monday to kick start the week on a strong note. Participants were so ecstatic; the Nifty went on to almost kiss the 11,700 mark in the initial euphoric move. However, this seemed to be an overreaction and hence, throughout the remaining part of the week, market consolidated in a slender range to eventually conclude tad above 11,500. Practically speaking, Nifty soared 1,000 points in merely two days and one has to understand, it is v...

Markets are expected to remain in the consolidation-mode, as investors watch out for key micro and macro-level developments through the week Market news : Markets are expected to remain in the consolidation-mode, as investors watch out for key micro and macro-level developments through the week. During the truncated week, market participants would, first, eye the Reserve Bank of India's repo rate decision. The MPC, which is scheduled to meet on Oct 1, 3 and 4th, will announce its decision on the last day of the meeting. After a cut in the corporate tax rate by the Finance Minister, investors await whether or not the Central bank would change its stance and decide to cut short the rate cut cycle. Further, auto and cement sales data, for the month of September, would be released through the week, starting Tuesday, which could keep auto and cement stocks volatile. That apart, Infrastructure output for August, fiscal deficit for... read more

Here's a look at the top stocks that may remain in focus today - Market news : At 08:34 am, Nifty futures on the Singapore Exchange (SGX) were trading 9 points or 0.08 per cent lower at 11,576, indicating a muted start for the Indian market on Monday. Here's a look at the top stocks that may remain in focus today - Peninsula Land: Brickwork has downgraded the rating for debentures of Peninsula Land, real estate unit of the Ashok Piramal Group, from “A” to “BBB-“. It also revised the outlook from “stable” to “negative”. Reliance Anil Dhirubhai Ambani Group stocks may remain in focus today as the companies will hold their annual general meetings (AGMs) today in Mumbai starting 10 am. Anil Ambani will address the meetings of all the companies, except the bankrupt RCom which will be... read more

The domestic unit on Friday spurted by 32 paise to close at a nearly two-month high of 70.56. Market news : The rupee climbed 14 paise to 70.42 against the US dollar in the opening deals on Monday. The domestic unit on Friday spurted by 32 paise to close at a nearly two-month high of 70.56 as crude oil prices receded following reports that Saudi Arabia had agreed on a temporary ceasefire in Yemen. The local unit notched up gains of 38 paise on a weekly basis. In the capital markets, after remaining net sellers for the past two months, foreign investors infused a net Rs 7,714 crore into the domestic capital markets in September following a slew of economic reforms by the government. However, FPI inflows into India will also... read more

Earlier this month, the Union cabinet had approved capital infusion worth over Rs 9,000 crore into the bank Market news : Shares of IDBI Bank declined 4.47 per cent to Rs 32.05 per share on the BSE in the early morning trade on Monday after the company's Board gave in-principal approval for divestment of the bank's stake in Asset Reconstruction Company (India). "The Board of Directors, at its meeting held on Friday, September 27, 2019, (have) granted in-principle approval to divest --partly or wholly-- 6,23,23,800 equity shares (19.18 per cent) of Asset Reconstruction Company (India) Ltd. (ARCIL) held by IDBI Bank," the bank said in an exchange filing. The divestment would be subject to compliance with all applicable laws, regulations and guidelines, the bank added. At 9:57 am, the stock was trading 4.73 per cent lower at... read more