Latest Stock Market News

The Dow reached a record high on Thursday amid mixed trading following strong U.S. economic data, while Nvidia dropped after its forecast failed to impress investors. The U.S. economy grew faster than anticipated, bolstering expectations of avoiding a recession. Apple rose as Citigroup named it a top AI pick, while other AI stocks saw mixed performance.

Oil prices were steady in early Friday trading as investors balanced supply concerns in the Middle East with weak demand signals. Libyan production and exports faced significant disruptions, while Iraqi output plans to reduce next month. Despite supply issues, oil prices are set for a second consecutive monthly decline.

The National Payments Corporation of India (NPCI) introduced new products to transform ATM infrastructure, including UPI interoperable cash deposits and digital banking units. Customers can now deposit cash at ATMs using UPI without a physical card. Additionally, RBI has rebranded the Bharat Bill Payment System to Bharat Connect, while open architecture ATMs will offer various banking services.

The Reserve Bank of India warns the public about fraudsters falsely using its name through fake letterheads, emails, and calls. These criminals impersonate RBI employees to steal personal and banking details. RBI also identifies unauthorized digital lending apps and financial service providers pretending to be registered with the regulator.

As long as the stock is priced above the 200-day SMA on the daily time frame, it is generally considered to be an overall uptrend.

The Reserve Bank of India is expected to release final guidelines soon on provisioning and accounting norms for project finance. Discussions are also ongoing for Expected Credit Loss guidelines. The RBI aims to implement new provisions at 5% in phases, addressing concerns from stakeholders about the increased costs for banks and borrowers.

The Reserve Bank of India reassures there is no systemic risk in the microfinance sector despite recent stress. Senior officials highlighted that concerns are entity-specific, and no strict regulatory action is planned. Ashima Goyal of the Monetary Policy Committee indicated non-performing assets are manageable and the banking system remains resilient.

​​Film star Shah Rukh Khan made his debut on the Hurun India Rich list with a wealth of Rs 7,300 crore, fuelled by his stakes in Kolkata Knight Riders and Red Chillies Entertainment Juhi Chawla and family (Rs 4,600 crore), Hrithik Roshan (Rs 2,000 crore), Karan Johar (Rs 1,400 crore), and Amitabh Bachchan (Rs 1,600 crore) are among the others from the film industry.

Equities in Australia and South Korea rose while those in Japan inched up. The MSCI Asia Pacific Index headed for a fourth month of gains as traders awaited a key US inflation report due Friday. Japan’s 10-year bond futures opened lower after data showed inflation in Tokyo quickened in August, backing the case for a further normalization of monetary policy.