The rupee strengthened by 38 paise to 90.40 against the US dollar in early trade on Thursday, driven by foreign fund inflows and suspected RBI intervention. Abundant liquidity in the banking system, with surplus liquidity near Rs 3 trillion, also supported the currency. However, elevated crude oil prices and geopolitical tensions continue to weigh on the economy.Read More
January’s stronger-than-expected U.S. payroll gains give the Federal Reserve room to keep rates steady, even as major revisions reveal that job growth nearly stalled through 2025. With unemployment edging down and productivity rising, policymakers remain cautious, balancing firmer recent data against concerns about a weakening labor market and delayed rate cuts.Read More
Shriram Finance has doubled investors’ wealth over the past year, outperforming the Nifty and hitting fresh 52-week highs. Trading well above key moving averages, the stock remains in an uptrend, supported by strong AUM growth, steady asset quality and upbeat brokerage targets, further boosted by MUFG Bank’s proposed 20% stake purchase.Read More
India’s IT sector plunged on Thursday as the Nifty IT index fell over 4%, erasing Rs 1.3 lakh crore in market value amid AI-driven disruption fears. TCS, Infosys and Wipro hit fresh lows as Anthropic’s new automation tools triggered panic selling, widening concerns over shrinking moats, pricing pressure and weakening global demand.Read More
Indian IT stocks like Infosys and Wipro saw significant drops following a sharp decline in their US ADRs. Investor concerns are mounting over AI’s potential to disrupt legal services and other sectors, leading to fears of increased competition and margin pressure for IT firms.Read More
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