US Economist Harry Dent Predicts Stock Market Crash: 'Bigger Than 2008

Brief by Shorts91 Newsdesk / 05:50am on 11 Jun 2024,Tuesday Business

Harry Dent, a top US economist, warns that a huge stock market crash is coming, potentially worse than the 2008 financial crisis. He believes the "everything" bubble, fueled by artificial stimulus, is yet to burst. Dent notes that most bubbles last 5-6 years, but this one has gone on for 14, making a bigger crash likely. He predicts a significant market downturn when the bubble finally bursts. Dent's warning suggests that the prolonged bubble may lead to a devastating economic crash, surpassing the Great Financial Crisis.

Read More at NDTV

Adani Ports Wins 5-Year Contract for Operation and Maintenance of Kolkata Port’s Container Terminal

Brief by Shorts91 Newsdesk / 01:50pm on 10 Jun 2024,Monday Business

Adani Ports and Special Economic Zone (APSEZ) has secured a 5-year contract for the operation and maintenance of the container terminal at Kolkata’s Netaji Subhas Dock. Awarded through a competitive bidding process, APSEZ will deploy cargo handling equipment within seven months. The terminal, handling 6.3 lakh TEUs in FY24, serves a wide region including West Bengal and the Northeast. The contract enhances Adani Ports’ strategic synergies with ports in Colombo and Vizhinjam, bolstering its presence on both coasts of India. CEO Ashwani Gupta emphasized the company’s commitment to expanding port infrastructure in West Bengal.

Read More at Business line

Sensex Hits Record High as RBI Raises GDP Growth Forecast

Brief by Shorts91 Newsdesk / 12:05pm on 07 Jun 2024,Friday Business

The S&P BSE Sensex surged by over 1,600 points on Friday, reaching a historic peak of 76,795.31, while the NSE Nifty50 climbed 2.07% to 23,294.2. This rally followed the Reserve Bank of India’s upward revision of the GDP growth forecast for FY25 to 7.2%, from a previous estimate of 7%. The RBI's decision to maintain interest rates at 6.5% for the eighth consecutive time also fueled investor confidence. The stock market's strong performance reversed the decline observed earlier in the week due to election uncertainties, demonstrating robust recovery and optimism about economic growth.

Read More at India Today

Nvidia's Jensen Huang Becomes 13th Richest Person in the World

Brief by Shorts91 Newsdesk / 08:43am on 07 Jun 2024,Friday Business

Jensen Huang, co-founder and CEO of Nvidia, has seen his net worth surge to $106 billion, making him the 13th richest person in the world. His fortune grew by $93 billion in just 18 months as Nvidia shares skyrocketed over 700% to over $1,200. The company's success is attributed to its role in the AI revolution, with major companies like Microsoft, Tesla, and Meta relying on Nvidia's graphics processors for their AI-powered projects. Huang's 3.5% stake in Nvidia is now worth over $14 billion, putting him close to breaking into the top 10 richest individuals globally.

Read More at Hindustan Times

Chandrababu Naidu's Wife Nara Bhuvaneshwari Earns ₹579 Crore in 5-Day Stock Rally

Brief by Shorts91 Newsdesk / 07:36am on 07 Jun 2024,Friday Business

Nara Bhuvaneshwari, wife of TDP leader Chandrababu Naidu, saw a staggering surge in wealth as Heritage Foods, where she holds a significant stake, witnessed a remarkable rally. With a 24.37% ownership in the company, her influence is evident in its performance. Despite a market downturn post Lok Sabha election results, Heritage Foods’ stock soared, closing at ₹659 per share after five consecutive sessions of gains, up from ₹402.90 on May 31, 2024. Bhuvaneshwari's holdings of 2,26,11,525 shares propelled the surge, underscoring her pivotal role in the company's trajectory.

Read More at Hindustan Times

BSE Sensex Surges Over 700 Points, Crosses 75,000 Mark; Nifty50 Above 22,800 Following NDA Government Formation

Brief by Shorts91 Newsdesk / 06:47am on 06 Jun 2024,Thursday Business

and Nifty50, rallied on Thursday as investors responded positively to the imminent formation of the NDA government. Sensex breached the 75,000 mark, while Nifty50 surpassed 22,800. Notable gainers included SBI, NTPC, and L&T, while HUL and Nestle India were among the top losers. Market sentiment improved post-election confirmation, with a focus on key cabinet portfolios. The market is expected to remain range-bound in the short term, with positive cues from Asian and US markets. FPIs were net sellers, while the rupee gained against the US dollar.              

Read More at The Times of India

Sensex Rebounds 1,600 Points, Nifty Surges Over 2% After Worst Crash in Four Years

Brief by Shorts91 Newsdesk / 06:49am on 05 Jun 2024,Wednesday Business

Following Dalal Street's disappointment with Lok Sabha election results, Indian stock markets rebounded sharply, with Sensex climbing 1,651.25 points to 73,730.30 and Nifty jumping 508.40 points to 22,392.90. FMCG and auto stocks led gains, while banks and IT sectors also contributed. Despite early surge, high volatility and selling pressure persist, with experts advising caution. Prashanth Tapse of Mehta Equities Ltd suggests focusing on defensive sectors amidst the uncertain market landscape. The unexpected election outcome has left markets volatile, prompting investors to await stabilization before making significant moves.

Read More at India Today

Sensex Plunges 6,000 Points, Nifty Falls 1,600 Points Following Election Volatility, Erasing 2024 Gains

Brief by Shorts91 Newsdesk / 08:04am on 04 Jun 2024,Tuesday Business

In a dramatic session, Sensex and Nifty erased all 2024 gains, plummeting over 8% amid high volatility due to early election results. Exit polls had projected a BJP victory, driving indices to record highs on Monday. However, closer-than-expected early results between NDA and INDIA alliances triggered a market downturn, causing Sensex to drop over 6,000 points and Nifty by 1,600 points. Major losses were seen in Adani Enterprises and Adani Ports, which fell up to 25%. Market sentiment remains highly unstable as investors react to potential political uncertainty.

Read More at India Today

Sensex Plunges 2,000 Points, Nifty Dips Below 22,800

Brief by Shorts91 Newsdesk / 04:04am on 04 Jun 2024,Tuesday Business

In a dramatic turn, the Sensex nosedived by 2,000 points, with the Nifty tumbling below the 22,800 mark. This stark reversal follows a surge sparked by robust exit poll projections favoring the BJP-led NDA. The economic landscape appeared promising with an 8.2% GDP growth in FY24, an optimistic monsoon forecast, a noteworthy 10% uptick in GST collections, and a decline in oil prices. However, market sentiments have abruptly shifted, underscoring the volatility inherent in financial markets.

Read More at Money Control

Exit Polls Point to Modi's Third Term Victory; Markets Reach Record Highs

Brief by Shorts91 Newsdesk / 02:19am on 04 Jun 2024,Tuesday Business

Stock futures edged higher and the rupee was steady as votes in the world's largest election were set to be counted today, with Prime Minister Narendra Modi widely expected to score a decisive mandate and a rare third term.Exit polls foresee a clear win for Modi, fueling market optimism and pushing indices to record highs on Monday. The NIFTY 50 index futures edged up 0.21% early Tuesday, eyeing another record open. Monday saw the Nifty index closing up 3.25% at 23,263.90 points and the BSE index up 3.39% at 76,468.78 points. The rupee traded slightly stronger at 83.1000 to the dollar in early NDF market trade, following a 0.4% gain on Monday.

Read More at NDTV