Global Market Today: Asian stocks drop, oil climbs on Iran tensions
Asian stocks retreated from record highs as Middle East tensions escalated, impacting crude oil prices and reviving concerns over energy supplies. US forces responded to Iranian attacks in the Strait of Hormuz, while President Trump issued a stern warning. Despite volatility, investors remain focused on de-escalation efforts and the AI trade.
SBI to lend Rs 80,000 crore more to war-hit companies
In a pivotal stride towards economic recovery, the government has unveiled ECLGS 5.0, aimed at fortifying MSMEs and the airline industry amidst ongoing challenges. With an unprecedented allocation of Rs 2.55 lakh crore in extra credit, State Bank of India is gearing up to contribute around Rs 70,000 crore to Rs 80,000 crore.
Midcap rally hits record high amid retail buying surge
Nifty midcap indices reached new peaks on Thursday. This surge is fueled by robust earnings, consistent retail investor contributions, and strategic bargain purchases. Midcap and smallcap indices have significantly outperformed larger indices since the US-Iran ceasefire announcement a month ago. Experts suggest a pause in the rally is likely soon. Foreign investors have been selling […]
Beware! Finance Secretary Nagaraju warns banks about risk from Mythos
Indian financial authorities are alerting banks to the significant risks from advanced AI models. Secretary M Nagaraju highlighted the potential threat of AI like Anthropic Mythos. He stressed the need for banks to strengthen cyber defenses and operational resilience. SBI Chairman CS Setty echoed these concerns, noting AI’s dual role in defense and offense.
Foreign investors continue to pull out of financials in second half of April
Foreign investors continued their sell-off in Indian equities, particularly in financials, extending withdrawals into the latter half of April. This sector saw significant outflows due to its heavy weight and inflation concerns. Conversely, power and capital goods attracted substantial inflows, driven by strong demand and global trends.
Retail stake cut in 284 BSE 500 companies in Q4
Retail investors showed caution, reducing their stock holdings in most companies during the March quarter. This move coincided with market declines due to global uncertainties. Meanwhile, foreign investors and domestic funds increased their stakes in various companies. Promoters also raised their shareholding, taking advantage of lower stock prices. FPI stake in Indian companies continued to […]
Foreign remittances to Kerala stay resilient despite West Asia crisis
Money from non-resident Indians to Kerala remains strong. Banks like Federal Bank and South Indian Bank show growth in deposits. This inflow is vital for Kerala’s economy. A weaker rupee also boosts remittances. Experts believe inflows will continue unless job losses in the Middle East occur. A prolonged conflict could pose a long-term risk.