The Nasdaq crossed 20,000, a historic first. Tech stocks soared on AI hopes and rate cut expectations. The index jumped 33% this year. Apple, Nvidia, and Tesla led the rally. This followed a US inflation report. The report hinted at a Federal Reserve rate reduction. The Nasdaq closed at 20,034.89, up 1.8%. This rally benefited tech investors.
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Sebi has proposed monthly systematic investment plans (SIPs) for a low ticket size of Rs 250. This aims to promote financial inclusion by subsidising costs for intermediaries. Investors can invest through up to three Rs 250 SIPs across different fund houses. Sebi plans to offer incentives to distributors and execution platforms for driving subscriptions to these small-ticket SIPs.
President Droupadi Murmu urged the RBI to enhance vigilance against financial fraud and cyber threats as technology advances. She praised the RBI's role in maintaining trust and stability over the past 90 years and emphasized its importance in driving financial innovation and ensuring a secure digital payment system.
Nithin Kamath stressed the importance of risk management for traders. He shared insights from successful traders, focusing on principles like reducing positions during drawdowns and cutting losers early. Kamath also highlighted common trading mistakes such as over-trading. His reflections underline how a clear system can help manage stress and reduce errors in challenging market conditions.
Firm said it achieved over $3.5 billion in annual productivity run-rate savings since 2022
India's financial sector is positioned strongly as it enters 2025, marked by robust earnings, low impaired assets, and strong capital buffers. Despite challenges from geopolitical conflicts and market volatility, the financial system remains resilient. Consumer and business confidence is high, and stress tests show the banking system and NBFCs are well-capitalized.
Scientists used the James Webb Space Telescope to study planet formation. They observed the star cluster NGC 346. They found long-lasting planet-forming disks. These disks exist even with few heavy elements. This challenges old theories. Planets may have formed earlier than we thought. This discovery changes our understanding of the early universe.
Household debt in India has increased to 42.9% of GDP as of June 2024, driven mainly by a rise in the number of borrowers. Most borrowing is for consumption, asset creation, and productive activities, with highly rated borrowers prioritizing asset investments. This trend is seen as enhancing credit quality and financial resilience.
The New Income Tax Bill 2025 aims to simplify tax laws in India, focusing on simplifying language, reducing litigation and compliance, and removing obsolete provisions. It introduces a taxpayer's charter, merges TDS/TCS sections, and aligns terminology with international norms. Likely effective from April 1, 2026, it promises streamlined processes without major tax rate changes.
Banks and UPI applications must conduct weekly updates of their mobile number records to prevent errors from recycled or modified numbers. Applications must obtain explicit user permission before assigning or updating numeric UPI IDs.
In the December MPC meeting, four members opposed policy easing, making a February rate cut uncertain. Outgoing Governor Das and Deputy Governor Patra prioritized controlling inflation over growth, citing concerns about core inflation and second-order effects. Two external members favored rate cuts to address the GDP growth decline, arguing monetary policy's limitations on supply-side inflation.