As it has sustained above the hurdle of 23,515 levels, it is expected that Nifty would move towards the next resistance of 1.786% Fib extension at 23,950 levels in the near term. The immediate support is placed at 23,450.
Is it the impact of climate change? The National Weather Service has issued an "extreme heatwave alert" for tens of millions of people and cities like Chicago are most likely to come under its spell. People have been advised to stay inside and stay hydrated. The cooling centers have also been opened.
The BCCI's Cricket Advisory Committee (CAC) interviewed former India opener Gautam Gambhir on Tuesday via a Zoom call alongside Malhotra. This comes as the board searches for the next head coach following Rahul Dravid's tenure. The conversation reportedly centered on Gambhir's envisioned roadmap for the upcoming three years, encompassing three ICC tournaments across different formats.
State-owned power company NTPC has partnered with waste-to-energy firm Macawber Beekay to supply green coal to reduce carbon emissions while generating electricity. The company will set up three green coal manufacturing units in Noida, Bhopal, and Hubbali, treating 900 tonnes per day of municipal solid waste through torrefaction.
President Droupadi Murmu will address a joint sitting of the Lok Sabha and the Rajya Sabha on June 27, outlining the new government's roadmap for the next five years. The session will conclude on July 3.
The WGC survey received responses from a record-high 70 central banks. The survey shows that Central bank sentiment towards gold remains very high, with 29 per cent saying they will add more gold in the next 12 months and 81 per cent saying that official sector gold reserves overall will grow in the same period. Optimism towards gold’s future role in global reserves continues to grow, with 69% saying that gold’s share of reserves will be higher in five years compared to 62% last year, the WGC survey said.
Sri Lanka's cricket icon Muttiah Muralitharan met with Industries Minister MB Patil to discuss plans for expanding his soft drink manufacturing business in Karnataka. Muralitharan aims to increase investments in his greenfield unit located in Chamarajanagar district, initially planned at Rs 1000 crore, to Rs 1400 crore. He also expressed commitment to his project in Dharwad for manufacturing beverage cans.
Snap Inc plans to create full body AR experiences, including generating new outfits, to enhance AR content on Snapchat.
Vedanta Resources, the UK-based parent company of Indian miner Vedanta Ltd, plans to cut its debt by $3 billion over the next three years. The company, which has been facing multiple rating downgrades due to liquidity issues and high default risk, will use the newfound liquidity from its $3.20 billion outstanding bonds to fund crucial capex projects.
US retail sales increased by 0.1% in May, lower gasoline prices affected service station receipts. Sales growth slowed due to high prices and interest rates, impacting discretionary spending. Banks tightened credit access for lower income borrowers struggling with loan payments.
Retail chains like Pantaloons, Spencer's Retail, and Nature's Basket have closed down more stores in 2023-24 than they opened new ones, leading to a drop in their total store count. V-Mart Retail, W, Aurelia, and Titan Eye+ had higher store closures than openings in the January to March quarter. Pantaloons store count dropped from 431 in FY23 to 417 in FY24, with 33 stores closed to improve network quality.
Kerala is expected to experience intensified rainfall around June 21-22, following a recent decrease in monsoon activity, according to the India Meteorological Department (IMD). The IMD has issued alerts for several districts, with northern districts like Malappuram, Kozhikode, and Kannur under an orange alert for June 21 and additional districts for June 22. These alerts signify anticipated heavy to very heavy rainfall, driven by strong westerly/south westerly winds along the Kerala coast during this period.
Currently, it is an open-ended scheme that invests in equity, debt, exchange-traded commodity derivatives, and Gold ETFs. After the changes, it will expand to include Silver ETFs as well, becoming an open-ended scheme that invests in equity, debt, exchange-traded commodity derivatives, Gold ETFs, and Silver ETFs.
The Jain community in Delhi recently came together to prevent the sacrifice of goats during the Bakri Eid festival. Led by Vivek Jain, a chartered accountant, the community raised over Rs 1.5 million to purchase 124 goats and ensure their safety.
Several government departments have begun accepting applications for quarterly disbursements of incentives under the Production Linked Incentive (PLI) schemes to expedite claims processing, according to a senior official. The Department for Promotion of Industry and Internal Trade (DPIIT) has encouraged other departments to adopt this practice, except in cases like food processing where the volume of applications is low. The move comes in response to demands from PLI beneficiaries for timely disbursement of claims.
Bollywood actor Abhishek Bachchan has purchased six apartments in Mumbai's Borivali suburb, totaling Rs 15.42 crores, from a subsidiary of real estate developer Oberoi Realty. These apartments, spanning 4,894 sq ft on the 57th floor of the luxury project Oberoi Sky City, were acquired from the company's subsidiary Incline Realty at a rate of Rs 31,498 per sq ft.
FMO is the Dutch entrepreneurial development bank, with a mission to empower entrepreneurs to build a better world. As a leading impact investor, FMO supports sustainable private sector growth in developing countries and emerging markets by investing in ambitious projects and entrepreneurs. Aye's net profit in FY24 grew nearly three-fold at Rs 161 crore while revenue was 67% higher at Rs 1072 crores as compared to the numbers in the preceding fiscal.
Airbus Helicopters introduced its H145 helicopter into the domestic energy sector in partnership with Heligo Charters on Tuesday. This move into offshore operations follows Heligo Charters Pvt Ltd (HCPL) signing a comprehensive by-the-hour services contract with Airbus earlier this year for six H145 helicopters.
NATO allies confirm first tranche of companies awarded funding from $1.1 billion innovation fund to enhance defences, including European tech companies like Fractile and ARX Robotics.
Extreme heat alerts have continued for millions of people in the United States, with cities like Chicago breaking records at the start of a week of sweltering weather. The Midwest and Northeast were under heat warnings or watches, with officials announcing the opening of cooling centers and urging people to limit outdoor activities when possible. Phoenix has experienced the most heat waves since 1936, with temperatures reaching 112 F (44.4 C) on Saturday.
India's net direct tax collections for the period from April 1 to June 17, 2024, have risen significantly by 21% year-on-year, totaling over Rs 4.62 lakh crore. This includes Corporate Income Tax (CIT) amounting to Rs 1,80,949 crore and Personal Income Tax (PIT) including Securities Transaction Tax (STT) totaling Rs 2,81,013 crore, according to the Central Board of Direct Taxes (CBDT).
The Nifty Bank rallied for the second day in a row on Tuesday and pushed the index above critical resistance of 50,250. The index closed 438 points higher at 50,440. ICICI Bank, Bandhan Bank, and IDFC First Bank saw buying action with gains of 1-4% respectively while selling was seen in PNB, which closed flat but with a negative bias
Summer Solstice 2024: Solstices mark the changing of seasons with longest and shortest daylight hours. The June solstice signifies the beginning of summer in the Northern Hemisphere and winter in the Southern Hemisphere. The solstices occur twice a year. In 2024, the June solstice falls on June 20 at 4:50 PM EDT, which corresponds to June 21 in India. This event marks the Sun's northernmost position in relation to Earth's equator, according to NASA.
