Positive Breakout: These 3 stocks cross above their 200 DMAs
In the Nifty midcap pack, three stocks’ close prices crossed above their 200 DMA (Daily Moving Averages) on December 9, according to stockedge.com’s technical scan data.
Asian stocks rise on optimism over China stimulus
China’s Politburo vowed to embrace a “moderately loose” strategy for monetary policy in 2025, marking its first major shift in stance since 2011. The top leaders pledged to take a “more proactive” approach on fiscal policies, stabilizing property and stock markets, while promising to “forcefully lift consumption.” Investors will now shift focus to China’s annual […]
Revenue Secretary Sanjay Malhotra to be RBI Governor
Sanjay Malhotra, a 1990-batch IAS officer, has been appointed as the next RBI governor for a three-year term, succeeding Shaktikanta Das. He takes charge amid high inflation and slowing growth, facing the challenge of balancing economic recovery with price stability. Malhotra, currently revenue secretary, has a strong background in taxation reforms and financial services.
RBI OKs Burman family’s open offer for Religare
The Reserve Bank of India (RBI) has approved the Burman family’s plan to acquire an additional 26% stake in Religare Enterprises. This follows a tussle for control of the NBFC. The RBI’s approval, valid for one year, comes with conditions, including maintaining the current management structure and requiring consolidation of NBFCs within the Burman group […]
Shaktikanta Das and his six years as RBI Guv: Steering RBI in times of despair and optimism
Das steered India’s economy through challenging times, including the Covid pandemic and global conflicts. Das prioritised financial stability and a 4% inflation target, leaving India as the fastest-growing economy with robust foreign exchange reserves. His successor is Sanjay Malhotra.
Fresh low for rupee in NDF market as RBI gets new Guv
The rupee depreciated by 14-15 paise to 84.90 per US dollar in the NDF market, traders said. The fall in the rupee is because traders expect changes in the central bank’s currency intervention policy. During Shaktikanta Das’ tenure, the RBI regularly intervened in the foreign exchange market to prevent excess volatility.
Brace for lower returns; go for bruised blue chips: Raamdeo Agrawal
Initially, I was a little worried about what foreigners would do given the lower earnings growth. They have sold about ₹1.5 lakh crore but the Nifty has fallen only about 1,200 points. And now they are also tired of selling.
Demand concerns knock FMCG stocks hard
Godrej Consumer Products fell nearly 9%, leading a fall in FMCG stocks. Tata Consumer Products slumped 4.1% while Marico, Hindustan Unilever and Dabur shed over 3% each. Colgate Palmolive tumbled 2.9% while Nestle and Britannia Industries fell over 1.5%. ITC closed 1.26% lower.