The US Federal Reserve announced its 8 policy decision for 2024 following a 2-day Federal Open Market Committee (FOMC) meeting on December 19, 2024. On Wednesday, December 18, the committee voted 11-1 to slash the benchmark interest rate by 25 basis points (bps), bringing it to a range of 4.25%–4.50%. This underscores the US Fed’s …
On December 18, 2024, benchmark indices BSE Sensex and NSE Nifty50 ended the day in the red. The Sensex fell by 502.25 points (0.62%) to close at 80,182.20. Throughout the day, it traded between a high of 80,868.02 and a low of 80,050.07. Similarly, the Nifty50 declined by 141.21 points (0.58%) to end at 24,198.85, …
The Karnataka Legislative Assembly recently passed the Karnataka Motor Vehicles Taxation (Second Amendment) Bill on December 17, introducing an additional cess of ₹500 on private two-wheelers and ₹1,000 on private cars at the time of registration. This move, despite opposition protests, aims to support social welfare schemes for transport workers in the state. Objective of …
The Indian pharmaceutical market for FY 2023-24 is valued at USD 50 billion, with domestic consumption contributing USD 23.5 billion and exports at USD 26.5 billion. India stands as the third-largest by volume and 14th by value globally, driven by a diverse product base including generics, biologics, and vaccines. As per the National Accounts Statistics …
The Securities and Exchange Board of India (SEBI) acts as a vigilant protector of India’s financial markets, ensuring that transparency, fairness, and investor safeguarding are upheld. Founded in 1988 and endowed with statutory authority in 1992, SEBI forms the bedrock of market regulation in India. Through its forward-thinking strategies, SEBI has transformed the functioning of …
According to reports, the US Federal Reserve is expected to reduce its benchmark interest rate by 25 basis points at the conclusion of its 2-day meeting on December 18. This would mark the 3 consecutive US Fed rate cut, bringing the federal funds rate to a target range of 4.25%-4.5%, down from the current 4.5%-4.75%. …
The Securities and Exchange Board of India has imposed new restrictions on foreign portfolio investors (FPIs), barring them from issuing participatory notes (P-notes) with derivatives as the underlying asset. SEBI Tightens FPI Regulations In a move to tighten regulatory oversight, the Securities and Exchange Board of India announced on Tuesday that foreign portfolio investors (FPIs) …
The Securities and Exchange Board of India (SEBI) has proposed the launch of a central platform, Mutual Fund Investment Tracing and Retrieval Assistant (MITRA), to help investors track inactive and unclaimed mutual fund (MF) folios. The proposal, outlined in a consultation paper, aims to address concerns over forgotten MF investments, especially those made in physical …
Mukesh Ambani and Gautam Adani have both dropped out of Bloomberg’s $100 billion club for 2024 due to business challenges. Ambani faces concerns over rising debt and underperforming sectors, while Adani deals with a U.S. probe and fallout from a fraud report. Challenges Weigh on India’s Richest Billionaires India’s richest individuals, Mukesh Ambani and Gautam …
On December 17, 2024, benchmark equity indices BSE Sensex and NSE Nifty 50 experienced steep declines, dropping over 1% each due to widespread selling pressure. The Sensex fell by 1,064.12 points, or 1.30%, to close at 80,684.45. Throughout the session, the index fluctuated between 81,613.64 and 80,612.20. Similarly, the Nifty 50 dropped 332.25 points, or …
