According to Chris Wood of Jefferies and his renowned "Greed & Fear" report, valuations in India's midcap segment appear rich, although they still remain below historical averages. On the other hand, larger companies in the country seem fairly valued. One key risk highlighted in the report is the potential impact of rising crude oil prices, which could stoke inflation. However, the report remains bullish on India in the long term and suggests that any market pullback from these levels should be seen as a golden buying opportunity for long-term investors.

Indian markets end week on a historic high

Morgan Stanley estimates that the dojo supercomputer may increase Tesla’s market worth by as much as 500 billion dollars. This is because of increased demand for the company's robo-taxi and network services.

Morgan Stanley bullish on Tesla's dojo sees $500 bn upside

Since Apple's ambitious endeavour to create the chips in-house is taking longer than planned, the company has extended its arrangement to buy modem semiconductors from Qualcomm for three more years. The announcement caused a sharp increase in Qualcomm's stock price.

Qualcomm to supply modem semiconductors for Apple through 2026

Vinfast shares rose 21 percent on Monday, continuing a week-long rise that has more than tripled the company's market worth to $160 billion.

The company created a stir on Wall Street earlier this month, rapidly ascending in value to secure the third position in market capitalization, trailing only Tesla and Toyota.

Despite this success, Vinfast's limited number of publicly available shares has led to volatility, resulting in fluctuations of over 14 per cent in 11 out of the past 12 trading sessions. With a share price of $83.33, the stock appeared poised to augment its market capitalization by approximately $33.6 billion.

Vinfast's stock garnered significant attention on Stocktwits, a prominent platform for individual investors.

Pham Nhat Vuong, Vietnam's wealthiest individual and the founder of parent company Vingroup, which holds around 100 percent ownership of Vinfast, nearly entirely controls the company.

Although there's considerable consumer enthusiasm, Vinfast faces a substantial journey ahead to effectively rival Tesla and traditional automakers, both of whom are investing billions in the electric vehicle (EV) sector.

S&amp;P Global Mobility's data reveals that only 137 Vinfast EVs were registered in the United States up until June. The company's expansion into the US and European markets comes at a time when EV demand is dwindling and Tesla is engaging in a price war to uphold its dominance.

Vinfast's projection of selling up to 50,000 electric vehicles this year contrasts starkly with Tesla's forecast of 1.8 million vehicle sales.

Deviating from Tesla's direct-to-consumer approach, Vinfast is adopting a strategy reliant on dealers to drive sales. Additionally, the company is in the process of constructing a $4 billion facility in North Carolina.

(Inputs from Reuters)

WATCH WION LIVE HERE

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>

Vinfast shares rose 21 percent on Monday, continuing a week-long rise that has more than tripled the company's market worth to $160 billion. The company created a stir on Wall Street earlier this month, rapidly ascending in value to secure the third position in market capitalization, trailing only Tesla and Toyota.

Vinfast shares rose 21 percent on Monday, continuing a week-long rise that has more than tripled the company's market worth to $160 billion. The company created a stir on Wall Street earlier this month, rapidly ascending in value to secure the third position in market capitalization, trailing only Tesla and Toyota. Despite this success, Vinfast's limited number of publicly available shares has led to volatility, resulting in fluctuations of over 14 per cent in 11 out of the past 12 trading sessions. With a share price of $83.33, the stock appeared poised to augment its market capitalization by approximately $33.6 billion. Vinfast's stock garnered significant attention on Stocktwits, a prominent platform for individual investors. Pham Nhat Vuong, Vietnam's wealthiest individual and the founder of parent company Vingroup, which holds around 100 percent ownership of Vinfast, nearly entirely controls the company. Although there's considerable consumer enthusiasm, Vinfast faces a substantial journey ahead to effectively rival Tesla and traditional automakers, both of whom are investing billions in the electric vehicle (EV) sector. S&P Global Mobility's data reveals that only 137 Vinfast EVs were registered in the United States up until June. The company's expansion into the US and European markets comes at a time when EV demand is dwindling and Tesla is engaging in a price war to uphold its dominance. Vinfast's projection of selling up to 50,000 electric vehicles this year contrasts starkly with Tesla's forecast of 1.8 million vehicle sales. Deviating from Tesla's direct-to-consumer approach, Vinfast is adopting a strategy reliant on dealers to drive sales. Additionally, the company is in the process of constructing a $4 billion facility in North Carolina. (Inputs from Reuters) WATCH WION LIVE HERE

Vinfast share surges after becoming world's third-most valuable automaker

In the fast-paced arena of global economics sometimes all it takes is a pair of sneakers to tell a compelling story. Nike, the iconic sportswear brand synonymous with Innovation and style is currently experiencing a rather uncharacteristic stumble.

Nike's stock faces millennial shift

In the fast-paced arena of global economics, sometimes all it takes is a pair of sneakers to tell a compelling story.&nbsp;

Nike, the iconic sportswear brand synonymous with innovation and style, is currently experiencing a rather uncharacteristic stumble in the stock market. As its shares have taken a downhill route for ten consecutive days, observers are left pondering: what's really at the core of this downward sprint?

The recent dip in Nike's stock price has set a record as the longest losing streak since the company's inception as a public entity in 1980. This is no minor jog; it's a marathon of red numbers, leaving investors and financial analysts to question the driving forces behind this downhill run.

At first glance, it might seem that Nike's prowess as a retail giant should keep it comfortably in the lead. Yet, beneath the surface, there's an intricate tale of economic currents at play.&nbsp;

The footwear business, Nike's cornerstone, is feeling the pressure from multiple angles. Notably, consumers, particularly the millennial cohort, are reallocating their spending habits. The pandemic has reshaped priorities, diverting dollars from goods to services and experiences. As students prepare to resume their loan payments, budget-conscious choices are in the air, leading to a shuffle in spending preferences.

This evolving landscape is prompting companies to recalibrate their strategies, adapting to a consumer base that's now more judicious with discretionary funds.

But it's not just American trails that Nike must navigate. China, a significant piece of its puzzle, is throwing its own curveballs. The company's substantial presence in the Chinese market positions it to benefit from the nation's economic vigor. However, the uneven recovery in China raises caution flags. As the country's economy stutters, Nike's earnings could take a hit. With a third of its business rooted in China, this variable deserves more than a passing glance.

As we await Nike's next earnings report, the global economy's trajectory remains uncertain. So, let's keep an eye on this marathon, and remember that in the realm of finance, it's not just about running – it's about understanding the rhythm of the race.

In the fast-paced arena of global economics, sometimes all it takes is a pair of sneakers to tell a compelling story. Nike, the iconic sportswear brand synonymous with innovation and style, is currently experiencing a rather uncharacteristic stumble in the stock market.

In the fast-paced arena of global economics, sometimes all it takes is a pair of sneakers to tell a compelling story. Nike, the iconic sportswear brand synonymous with innovation and style, is currently experiencing a rather uncharacteristic stumble in the stock market. As its shares have taken a downhill route for ten consecutive days, observers are left pondering: what's really at the core of this downward sprint? The recent dip in Nike's stock price has set a record as the longest losing streak since the company's inception as a public entity in 1980. This is no minor jog; it's a marathon of red numbers, leaving investors and financial analysts to question the driving forces behind this downhill run. At first glance, it might seem that Nike's prowess as a retail giant should keep it comfortably in the lead. Yet, beneath the surface, there's an intricate tale of economic currents at play. The footwear business, Nike's cornerstone, is feeling the pressure from multiple angles. Notably, consumers, particularly the millennial cohort, are reallocating their spending habits. The pandemic has reshaped priorities, diverting dollars from goods to services and experiences. As students prepare to resume their loan payments, budget-conscious choices are in the air, leading to a shuffle in spending preferences. This evolving landscape is prompting companies to recalibrate their strategies, adapting to a consumer base that's now more judicious with discretionary funds. But it's not just American trails that Nike must navigate. China, a significant piece of its puzzle, is throwing its own curveballs. The company's substantial presence in the Chinese market positions it to benefit from the nation's economic vigor. However, the uneven recovery in China raises caution flags. As the country's economy stutters, Nike's earnings could take a hit. With a third of its business rooted in China, this variable deserves more than a passing glance. As we await Nike's next earnings report, the global economy's trajectory remains uncertain. So, let's keep an eye on this marathon, and remember that in the realm of finance, it's not just about running – it's about understanding the rhythm of the race.

Decoded: What Nike's stock slump says about the global economy

Nvidia shares reached a new peak on Tuesday in anticipation of the chip designer's upcoming quarterly earnings report, reflecting its reliance on the artificial intelligence upswing. 
&nbsp; 
However, the stock experienced a decline of 1.1 per cent shortly after hitting the record high of $481.87 as trading commenced. This fleeting surge surpassed its previous peak of $480.88, achieved on July 14. 
&nbsp; 
Nvidia's shares have gained approximately 19 per cent after hitting a two-month low, driven by growing speculation that Nvidia's sales projections will once again exceed Wall Street estimates. 
&nbsp; 
Analysts cautiously predict that Nvidia, a dominant force in the market for chips essential to power generative AI services like ChatGPT and others, could unveil third-quarter sales totaling $12.50 billion. This projection represents a substantial 110 per cent increase from the previous year's figures. 
&nbsp; 
Reuters cited Dennis Dick, Triple D Trading's market structure analyst, saying, "It could be the most important earnings report of the year. We want to hear that they can build on the fantastic quarter they had last quarter." 
&nbsp; 
In May, the company predicted second-quarter revenue that exceeded expectations by over 50 percent, an outcome that catapulted its market valuation past $1 trillion. This achievement positioned it as the standout performer on the S&amp;P 500 index.&nbsp; 
&nbsp; 
Nvidia's remarkably positive projection from the previous quarter triggered a surge in AI-related stocks and their Big Tech counterparts. Consequently, it played a pivotal role in fueling this year's stock market upswing in the United States.

<meta charset="utf-8" />

During this month alone, at least 19 brokerage firms have revised their target price for Nvidia, culminating in a consensus estimate of $500. This represents a 6.5 percent escalation from the stock's most recent closing value. Notably, Nvidia's shares have quadrupled in value so far this year. 
&nbsp; 
According to a Monday report by Goldman Sachs, Nvidia experienced the most pronounced surge in hedge fund interest during the second quarter. 
&nbsp; 
"The Nvidia AI story is driving the market right now.&nbsp;If Nvidia fails to meet expectations, the market will suffer greatly," Danis Dick was quoted Reuters as saying.

(Inputs from Reuters)

WATCH WION LIVE HERE

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>

Nvidia shares reached a new peak on Tuesday in anticipation of the chip designer's upcoming quarterly earnings report, reflecting its reliance on the artificial intelligence upswing.

Nvidia shares reached a new peak on Tuesday in anticipation of the chip designer's upcoming quarterly earnings report, reflecting its reliance on the artificial intelligence upswing. However, the stock experienced a decline of 1.1 per cent shortly after hitting the record high of $481.87 as trading commenced. This fleeting surge surpassed its previous peak of $480.88, achieved on July 14. Nvidia's shares have gained approximately 19 per cent after hitting a two-month low, driven by growing speculation that Nvidia's sales projections will once again exceed Wall Street estimates. Analysts cautiously predict that Nvidia, a dominant force in the market for chips essential to power generative AI services like ChatGPT and others, could unveil third-quarter sales totaling $12.50 billion. This projection represents a substantial 110 per cent increase from the previous year's figures. Reuters cited Dennis Dick, Triple D Trading's market structure analyst, saying, "It could be the most important earnings report of the year. We want to hear that they can build on the fantastic quarter they had last quarter." In May, the company predicted second-quarter revenue that exceeded expectations by over 50 percent, an outcome that catapulted its market valuation past $1 trillion. This achievement positioned it as the standout performer on the S&P 500 index. Nvidia's remarkably positive projection from the previous quarter triggered a surge in AI-related stocks and their Big Tech counterparts. Consequently, it played a pivotal role in fueling this year's stock market upswing in the United States. During this month alone, at least 19 brokerage firms have revised their target price for Nvidia, culminating in a consensus estimate of $500. This represents a 6.5 percent escalation from the stock's most recent closing value. Notably, Nvidia's shares have quadrupled in value so far this year. According to a Monday report by Goldman Sachs, Nvidia experienced the most pronounced surge in hedge fund interest during the second quarter. "The Nvidia AI story is driving the market right now. If Nvidia fails to meet expectations, the market will suffer greatly," Danis Dick was quoted Reuters as saying. (Inputs from Reuters) WATCH WION LIVE HERE

AI boom helps Nvidia shares reach new peak ahead of quarterly results

Tesla and Rivian automotive have experienced an impressive surge in their shares and second quarter deliveries. Tesla's shares skyrocketed by 7% following better-than-expected quarterly deliveries, proving CEO Elon Musk's strategy of boosting volumes through discounts is paying off. This surge lifted tesla's market value by a staggering 57 billion dollars to reach a remarkable 887 billion dollars. The company's stock has already more than doubled in value this year, far exceeding analysts' price targets.

Tesla’s stock soars by $57 billion

The World Wealth Report 2023 published recently by Capgemini highlights a significant decline in the number of High Net Worth Individuals (HNWIs) worldwide. This year's decline in both the number and wealth of HNWIs is the highest recorded in the past decade.

However, amidst this gloomy trend, the report offers positive news for India, emphasising the country's commendable stock market performance.

<h2>Key findings of the World Wealth Report 2023</h2>

The report reveals that the wealth of HNWIs dwindled over the past year due to various factors such as geopolitical crises, market downturns, rising living costs, and unexpected inflation. Global economic conditions have been impacted by central banks' increasing interest rates, adding further strain.

The corporate sector has experienced earnings setbacks, particularly affecting technology stocks.

<h2>Magnitude of decline in HNWIs’ wealth</h2>

According to the report, global HNWIs' wealth declined by 3.6 per cent&nbsp;to $83 trillion in 2022, marking the most significant dip&nbsp;between 2013 and 2022. Both diversified investment instruments and equity have experienced declines in HNWIs' wealth. Additionally, the number of HNWIs has also decreased by 3.3 per cent, reaching 21.7 million in 2022.

Also Read | <a href="https://www.wionews.com/world/san-francisco-nine-people-shot-at-in-yet-another-targeted-shooting-incident-602856">San Francisco: Nine people shot at in yet another 'targeted' shooting incident</a>

Notably, the steepest decline was observed in North America. In terms of affluents, North America (46%) and the Asia-Pacific region (32%) account for the largest share of global wealth value and population size.

<h2>Untapped potential in affluent segment</h2>

Despite holding approximately $27 trillion in assets, representing nearly 32% of total HNWI wealth, about34% of firms are not exploring the potential of this affluent segment, the report reveals.

<h2>Positive outlook for India</h2>

The report brings good news for India, as the country, along with Indonesia, had a successful year in the Asia Pacific region. India's stock market exhibited notable growth over the past year. The BSE Sensex recorded a year-on-year gain of 4.4%, while Nifty 50 gained 4.3%. Moreover, there has been a relative increase in both the wealth and population of HNWIs in India.

<h2>Indian HNWIs thrived: Report&nbsp;</h2>

Although the current year has witnessed a decline in HNWIs' wealth, the previous year's Capgemini report, based on 2021 data, highlighted a growth of 10.5% in the HNWI population in India.

Also Read | <a href="https://www.wionews.com/world/archbishop-of-canterbury-urges-anglican-church-of-uganda-to-reject-anti-lgbt-law-602861">Archbishop of Canterbury urges Anglican church of Uganda to reject anti-LGBT law</a>

This growth translated to a total of 308 Indians entering the ultra-rich category. Globally, in 2021, the number of HNWIs increased by 7.8% to 22.5 million, with an 8% rise in their overall wealth.

Watch | Exclusive inside view of the INS Hansa Goa, home to a wide-range fleet of Naval aircraft

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/exclusive-inside-view-of-the-ins-hansa-goa-home-to-a-wide-range-fleet-of-naval-aircraft-602857/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>
</div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

India's resilience in the face of global HNWI decline demonstrates the country's robust stock market performance and highlights its potential as a favorable destination for wealth creation and investment opportunities.

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
WATCH WION LIVE HERE

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1  width=&quot;100%&quot;"></iframe>

You can now write for wionews.com and be a part of the community. Share your stories and opinions with us <a href="https://www.wionews.com/content-contribution-registration-form">here</a>.
</div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

&nbsp;

The World Wealth Report 2023 published recently by Capgemini highlights a significant decline in the number of High Net Worth Individuals (HNWIs) worldwide. This year's decline in both the number and wealth of HNWIs is the highest recorded in the past decade.

The World Wealth Report 2023 published recently by Capgemini highlights a significant decline in the number of High Net Worth Individuals (HNWIs) worldwide. This year's decline in both the number and wealth of HNWIs is the highest recorded in the past decade. However, amidst this gloomy trend, the report offers positive news for India, emphasising the country's commendable stock market performance. Key findings of the World Wealth Report 2023 The report reveals that the wealth of HNWIs dwindled over the past year due to various factors such as geopolitical crises, market downturns, rising living costs, and unexpected inflation. Global economic conditions have been impacted by central banks' increasing interest rates, adding further strain. The corporate sector has experienced earnings setbacks, particularly affecting technology stocks. Magnitude of decline in HNWIs’ wealth According to the report, global HNWIs' wealth declined by 3.6 per cent to $83 trillion in 2022, marking the most significant dip between 2013 and 2022. Both diversified investment instruments and equity have experienced declines in HNWIs' wealth. Additionally, the number of HNWIs has also decreased by 3.3 per cent, reaching 21.7 million in 2022. Also Read | San Francisco: Nine people shot at in yet another 'targeted' shooting incident Notably, the steepest decline was observed in North America. In terms of affluents, North America (46%) and the Asia-Pacific region (32%) account for the largest share of global wealth value and population size. Untapped potential in affluent segment Despite holding approximately $27 trillion in assets, representing nearly 32% of total HNWI wealth, about34% of firms are not exploring the potential of this affluent segment, the report reveals. Positive outlook for India The report brings good news for India, as the country, along with Indonesia, had a successful year in the Asia Pacific region. India's stock market exhibited notable growth over the past year. The BSE Sensex recorded a year-on-year gain of 4.4%, while Nifty 50 gained 4.3%. Moreover, there has been a relative increase in both the wealth and population of HNWIs in India. Indian HNWIs thrived: Report Although the current year has witnessed a decline in HNWIs' wealth, the previous year's Capgemini report, based on 2021 data, highlighted a growth of 10.5% in the HNWI population in India. Also Read | Archbishop of Canterbury urges Anglican church of Uganda to reject anti-LGBT law This growth translated to a total of 308 Indians entering the ultra-rich category. Globally, in 2021, the number of HNWIs increased by 7.8% to 22.5 million, with an 8% rise in their overall wealth. Watch | Exclusive inside view of the INS Hansa Goa, home to a wide-range fleet of Naval aircraft × India's resilience in the face of global HNWI decline demonstrates the country's robust stock market performance and highlights its potential as a favorable destination for wealth creation and investment opportunities. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. ×

World Wealth Report 2023: India’s stock market surged amid global declines, HNWIs grew against trend

The Indian shares were off to a muted start on Monday, May 22, after the US debt ceiling talks which were paused on Friday, May 19. Wall Street equities closed lower on Friday on reports that the U.S. debt ceiling negotiations had reached an impasse.&nbsp;

<h2>Understanding the ‘Debt Ceiling’</h2>

The debt ceiling determines how much money the government can borrow for its expenses. After the borrowing cap is reached, no further money can be raised for the government. In such a scenario, the only way a government can raise funding is via tax revenues.&nbsp;

<h2>US debt ceiling</h2>

The US has hit its borrowing limit, also referred to as the ‘debt ceiling’, which in turn has fuelled fears of putting global markets in instability and setting off a budgetary battle in Congress. Presently, the US government borrowing equates to around 120 per cent of the nation's yearly economic output.

ALSO READ |&nbsp;<a href="https://www.wionews.com/business-economy/janet-yellens-warning-raise-us-debt-ceiling-or-face-economic-catastrophe-586246">Janet Yellen’s warning: Raise US debt ceiling or face economic catastrophe</a>

The looming debt ceiling crisis has investors worried, as any default will have a major impact on the international financial markets. Analysts have warned that a failure to lift the US debt ceiling could trigger a default and a spike in interest rates and cause an ‘economic catastrophe’.&nbsp;

<h2>Indian stock market</h2>

India’s NSE stock futures listed on the Singapore Exchange were down to&nbsp;0.01% at 18,201.95 as of 9:15 a.m. IST on Monday, May 22, while the benchmark S&amp;P BSE Sensex, BSESN fell 0.11% to 61,660.99.&nbsp;

WATCH |&nbsp;What is the US debt ceiling &amp; what happens if it isn’t raised?

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/what-is-the-us-debt-ceiling-what-happens-if-it-isnt-raised-593402/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>
</div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

&nbsp;

As reported by Reuters, Indian shares snapped three straight sessions of losses on Friday, aided by quarterly earnings and persistent foreign institutional buying. Analysts expect the Nifty benchmark to consolidate in the 18,050-18,450 range.

<h2>Short-term trend remains choppy</h2>

Commenting on the matter Nagaraj Shetti, technical research analyst at HDFC securities said that “the short-term trend for the Nifty remains choppy”. He further added that “the emergence of buying interest on Friday raises hopes for an upside bounce in the market.”

However, the head of retail research at the HDFC securities, Deepak Jasani added that “the overall mood in the markets in the near term will be decided by Foreign institutional investors (FIIs) flows and developments on the U.S. debt default situation.”&nbsp;

As per provisional data from the National Stock Exchange, the Foreign institutional investors (FIIs) snapped a 16-session buying streak on Friday, May 19 selling 1.13 billion rupees ($13.8 million) of shares.&nbsp;

(with inputs from agencies)

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
WATCH WION LIVE HERE

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>
</div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

&nbsp;

The Indian shares were off to a muted start on Monday, May 22, after the US debt ceiling talks which were paused on Friday, May 19. Wall Street equities closed lower on Friday on reports that the U.

The Indian shares were off to a muted start on Monday, May 22, after the US debt ceiling talks which were paused on Friday, May 19. Wall Street equities closed lower on Friday on reports that the U.S. debt ceiling negotiations had reached an impasse. Understanding the ‘Debt Ceiling’ The debt ceiling determines how much money the government can borrow for its expenses. After the borrowing cap is reached, no further money can be raised for the government. In such a scenario, the only way a government can raise funding is via tax revenues. US debt ceiling The US has hit its borrowing limit, also referred to as the ‘debt ceiling’, which in turn has fuelled fears of putting global markets in instability and setting off a budgetary battle in Congress. Presently, the US government borrowing equates to around 120 per cent of the nation's yearly economic output. ALSO READ | Janet Yellen’s warning: Raise US debt ceiling or face economic catastrophe The looming debt ceiling crisis has investors worried, as any default will have a major impact on the international financial markets. Analysts have warned that a failure to lift the US debt ceiling could trigger a default and a spike in interest rates and cause an ‘economic catastrophe’. Indian stock market India’s NSE stock futures listed on the Singapore Exchange were down to 0.01% at 18,201.95 as of 9:15 a.m. IST on Monday, May 22, while the benchmark S&P BSE Sensex, BSESN fell 0.11% to 61,660.99. WATCH | What is the US debt ceiling & what happens if it isn’t raised? × As reported by Reuters, Indian shares snapped three straight sessions of losses on Friday, aided by quarterly earnings and persistent foreign institutional buying. Analysts expect the Nifty benchmark to consolidate in the 18,050-18,450 range. Short-term trend remains choppy Commenting on the matter Nagaraj Shetti, technical research analyst at HDFC securities said that “the short-term trend for the Nifty remains choppy”. He further added that “the emergence of buying interest on Friday raises hopes for an upside bounce in the market.” However, the head of retail research at the HDFC securities, Deepak Jasani added that “the overall mood in the markets in the near term will be decided by Foreign institutional investors (FIIs) flows and developments on the U.S. debt default situation.” As per provisional data from the National Stock Exchange, the Foreign institutional investors (FIIs) snapped a 16-session buying streak on Friday, May 19 selling 1.13 billion rupees ($13.8 million) of shares. (with inputs from agencies) WATCH WION LIVE HERE ×

Indian shares open low amid US debt ceiling talks

On Thursday, Tesla shares plunged more than 10% as CEO Elon Musk implied that the electric vehicle manufacturer would continue to reduce costs in order to increase demand. On Thursday, Tesla lost more than $50 billion in market value, and the company's shares fell to their lowest level since January.

Tesla's stock falls 10% after weak earnings

Elon Musk broke federal labour law by tweeting that Tesla workers would lose stock options if they joined a union, ruled a US appeals court. The 5th US Circuit Court of Appeals judges in New Orleans over Musk's 2018 tweet said that it constituted an unlawful threat that would deter unionisation and ordered Musk to remove it.

The appeals court while backing the findings of US National Labor Relations Board's (NLRB) gave the ruling. This came after an organising campaign by the United Auto Workers (UAW) union at Tesla’s Fremont automobile plant in California.

Musk tweeted, “Nothing stopping Tesla team at our car plant from voting union … But why pay union dues &amp; give up stock options for nothing?”

Also Read | <a href="https://www.wionews.com/world/deadly-avalanches-in-norway-kill-four-including-tourists-house-sweeps-into-sea-577942">Deadly avalanches in Norway kill four including tourists, house sweeps into sea</a>

The UAW president, Shawn Fain, welcomed the ruling but also said it exposed “our broken US labour law”.&nbsp;“Here is a company that clearly broke the law and yet it is several years down the road before these workers have achieved a modicum of justice,” Fain said.

Earlier, Tesla won in a lawsuit filed by investors in February related to a Tweet&nbsp;by Musk from 2018 that suggested funding was available for the company to go private. Musk claimed in a tweet that he has "funding&nbsp;secured" to take the electric vehicle manufacturer private at a price of $420 per share. Investors contended that the tweets caused stocks to soar over a 10-day period. 
 
After winning the lawsuit, Musk had tweeted, “Thank goodness, the wisdom of the people has prevailed!” “I am deeply appreciative of the jury’s unanimous finding of innocence in the Tesla 420 take-private case.”

Also Read |&nbsp;<a href="https://www.wionews.com/world/love-themed-spring-break-in-chinese-colleges-as-nation-scurries-to-tackle-population-decline-577925">Love-themed spring break in Chinese colleges as nation scurries to tackle population decline</a>

In addition, Musk won in a defamation case brought by a British caver.&nbsp;The Tesla founder&nbsp;was sued by Vernon Unsworth for $190 million in damages, but Elon Musk won. Musk argued in court that the term "pedo man" was prevalent in South Africa, where he was raised.

Musk acquired Twitter in 2022 for $44 billion. In the argument on Friday, Tesla had contended that the tweet about organising wasn't a threat and was instead just a reflection of the reality that union employees at other automakers weren't given stock options.&nbsp;

Watch | Will Artificial Intelligence be the end of mankind?&nbsp;

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/will-artificial-intelligence-be-the-end-of-mankind-this-world-577854/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>
</div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

“Substantial evidence supports the NLRB’s conclusion that the tweet is an implied threat to end stock options as retaliation for unionization,” the panel wrote. 
 
In another case, the labour board concluded in 2022 that Tesla had infringed the law by preventing workers at the Fremont factory from wearing shirts that backed the union movement. The company is contesting that decision.

 
 
WATCH WION LIVE HERE

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1  width=&quot;100%&quot;"></iframe>

You can now write for wionews.com and be a part of the community. Share your stories and opinions with us <a href="https://www.wionews.com/content-contribution-registration-form">here</a>.

Elon Musk broke federal labour law by tweeting that Tesla workers would lose stock options if they joined a union, ruled a US appeals court. The 5th US Circuit Court of Appeals judges in New Orleans over Musk's 2018 tweet said that it constituted an unlawful threat that would deter unionisation and ordered Musk to remove it.

Elon Musk broke federal labour law by tweeting that Tesla workers would lose stock options if they joined a union, ruled a US appeals court. The 5th US Circuit Court of Appeals judges in New Orleans over Musk's 2018 tweet said that it constituted an unlawful threat that would deter unionisation and ordered Musk to remove it. The appeals court while backing the findings of US National Labor Relations Board's (NLRB) gave the ruling. This came after an organising campaign by the United Auto Workers (UAW) union at Tesla’s Fremont automobile plant in California. Musk tweeted, “Nothing stopping Tesla team at our car plant from voting union … But why pay union dues & give up stock options for nothing?” Also Read | Deadly avalanches in Norway kill four including tourists, house sweeps into sea The UAW president, Shawn Fain, welcomed the ruling but also said it exposed “our broken US labour law”. “Here is a company that clearly broke the law and yet it is several years down the road before these workers have achieved a modicum of justice,” Fain said. Earlier, Tesla won in a lawsuit filed by investors in February related to a Tweet by Musk from 2018 that suggested funding was available for the company to go private. Musk claimed in a tweet that he has "funding secured" to take the electric vehicle manufacturer private at a price of $420 per share. Investors contended that the tweets caused stocks to soar over a 10-day period. After winning the lawsuit, Musk had tweeted, “Thank goodness, the wisdom of the people has prevailed!” “I am deeply appreciative of the jury’s unanimous finding of innocence in the Tesla 420 take-private case.” Also Read | Love-themed spring break in Chinese colleges as nation scurries to tackle population decline In addition, Musk won in a defamation case brought by a British caver. The Tesla founder was sued by Vernon Unsworth for $190 million in damages, but Elon Musk won. Musk argued in court that the term "pedo man" was prevalent in South Africa, where he was raised. Musk acquired Twitter in 2022 for $44 billion. In the argument on Friday, Tesla had contended that the tweet about organising wasn't a threat and was instead just a reflection of the reality that union employees at other automakers weren't given stock options. Watch | Will Artificial Intelligence be the end of mankind? × “Substantial evidence supports the NLRB’s conclusion that the tweet is an implied threat to end stock options as retaliation for unionization,” the panel wrote. In another case, the labour board concluded in 2022 that Tesla had infringed the law by preventing workers at the Fremont factory from wearing shirts that backed the union movement. The company is contesting that decision. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Musk violated labour law by tweeting Tesla workers would lose stock options if they joined union: Court

U.S research firm Hindenburg alleged that the Adani group misused the tax havens and indulged in stock price manipulations on Jan 24. Since then seven of Adani's listed stock have lost over $140 billion.

Adani stocks market rout over $140 billion

Shares of Indian firm&nbsp;Adani Enterprises sank nearly 20% on Friday after a scathing report by a U.S. short-seller triggered a rout in the conglomerate's listed firms, casting doubts on how investors will respond to the company's record $2.45 billion secondary sale.&nbsp;Seven listed companies of the Adani conglomerate — controlled by one of the world's richest men Gautam Adani — have lost a combined $45 billion in market capitalisation since Wednesday, with the U.S. bonds of Adani firms also falling after Hindenburg Research flagged concerns in a Jan. 24 report about debt levels and the use of tax havens.

The rout took shares of Adani Enterprises, the group's flagship company, well below the offer price of its secondary sale which kicked off on Friday.

The Securities and Exchange Board of India (SEBI), the country's capital markets regulator, is studying the Hindenburg report and may use it to aid its own ongoing probe into offshore fund holdings of Adani Group, two sources told Reuters. Spokespersons for the regulator had no immediate comment.

Adani Group has dismissed the Hindenburg report as baseless and said it is considering whether to take legal action against the New York-based firm. It did not immediately respond to a request for comment on the SEBI's investigations.

With a net worth of $97.6 billion, billionaire Gautam Adani is now the world's seventh richest man, according to Forbes, slipping from the third position he held before the Hindenburg report.

Adani met the county's power minister R.K. Singh on Friday in New Delhi, according to a source familiar with the matter. The agenda of the meeting was not immediately known.

The billionaire hails from the western state of Gujarat, the home state of Prime Minister Narendra Modi. The stunning market selloff has cast a shadow over Adani Enterprises' secondary share sale. The anchor portion of the sale saw participation from investors, including the Abu Dhabi Investment Authority, on Wednesday.

"There were heavy positions in Adani group (shares), the way they have risen in the last couple of years," said Neeraj Dewan, director at Quantum Securities in New Delhi.

"This is a classic case of panic selling," he said, noting the concerns were also spreading to Indian banks with exposure to Adani Group's debt.

The index tracking state-run banks slid 6.6%, while the main Nifty Bank index fell 3.5%.

CLSA estimates that Indian banks were exposed to about 40% of the Rs 2 trillion ($24.53 billion) of Adani Group debt in the fiscal year to March 2022.&nbsp;

As of 0818 GMT, investors, mostly retail, had bid for around 266,000 shares of Adani Enterprises, compared with the 45.5 million on offer, according to BSE exchange data. Bidding for retail investors will close on Jan. 31.

The share sale is being managed by Jefferies, India's SBI Capital Markets, Axis Capital, and ICICI Securities among others.

The firm has set a floor price of Rs 3,112&nbsp;($38.22) a share and a cap of Rs 3,276. But on Friday, the stock had slumped to as low as Rs 2,721.65&nbsp;— well below the lower end of the price offering.

Shares of other listed Adani firms also plummeted, with Adani Transmission Ltd, Adani Total Gas, Adani Green Energy and Adani Ports sinking 20% each.

"The sell-off is seriously extreme ... it has clearly dented the overall investor sentiment in the market," said Saurabh Jain, Assistant Vice-President, Research, at SMC Global Securities.

In its report, Hindenburg said key listed Adani Group companies had "substantial debt", putting the conglomerate on a "precarious financial footing", and that "sky-high valuations" had pushed the share prices of seven listed Adani companies as much as 85% beyond actual value.

Billionaire U.S. investor Bill Ackman said on Thursday that he found the Hindenburg report "highly credible and extremely well researched."

Hindenburg said it held short positions in Adani through its U.S.-traded bonds and non-Indian-traded derivative instruments, meaning it is betting that their price would fall.

Dollar bonds issued by entities of India's Adani Group tumbled on Friday.

Adani Group has repeatedly faced and dismissed concern about debt levels. It defended itself in a presentation titled "Myths of Short Seller" on Thursday, saying deleveraging by promoters — or key shareholders — was "in a high growth phase".

Jefferies in a client note said Adani Group had shared details of debt and leverage levels, and that it does not "see material risk arising to the Indian banking sector".

Adani Group's consolidated gross debt stood at Rs 1.9 trillion ($23.34 billion), Jefferies said.

Adani has said its debt is at a manageable level and that no investor has raised any concern.

The Adani conglomerate has been diversifying its business interests and last year it bought cement firms ACC and Ambuja Cements from Switzerland's Holcim for $10.5 billion. ACC stock was down 15% on Friday, while Ambuja plunged up to 25%.

WATCH WION LIVE HERE

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1  width=&quot;100%&quot;"></iframe>

You can now write for wionews.com and be a part of the community. Share your stories and opinions with us <a href="https://www.wionews.com/content-contribution-registration-form">here</a>.

Shares of Indian firm Adani Enterprises sank nearly 20% on Friday after a scathing report by a U.S. short-seller triggered a rout in the conglomerate's listed firms, casting doubts on how investors will respond to the company's record $2.

Shares of Indian firm Adani Enterprises sank nearly 20% on Friday after a scathing report by a U.S. short-seller triggered a rout in the conglomerate's listed firms, casting doubts on how investors will respond to the company's record $2.45 billion secondary sale. Seven listed companies of the Adani conglomerate — controlled by one of the world's richest men Gautam Adani — have lost a combined $45 billion in market capitalisation since Wednesday, with the U.S. bonds of Adani firms also falling after Hindenburg Research flagged concerns in a Jan. 24 report about debt levels and the use of tax havens. The rout took shares of Adani Enterprises, the group's flagship company, well below the offer price of its secondary sale which kicked off on Friday. The Securities and Exchange Board of India (SEBI), the country's capital markets regulator, is studying the Hindenburg report and may use it to aid its own ongoing probe into offshore fund holdings of Adani Group, two sources told Reuters. Spokespersons for the regulator had no immediate comment. Adani Group has dismissed the Hindenburg report as baseless and said it is considering whether to take legal action against the New York-based firm. It did not immediately respond to a request for comment on the SEBI's investigations. With a net worth of $97.6 billion, billionaire Gautam Adani is now the world's seventh richest man, according to Forbes, slipping from the third position he held before the Hindenburg report. Adani met the county's power minister R.K. Singh on Friday in New Delhi, according to a source familiar with the matter. The agenda of the meeting was not immediately known. The billionaire hails from the western state of Gujarat, the home state of Prime Minister Narendra Modi. The stunning market selloff has cast a shadow over Adani Enterprises' secondary share sale. The anchor portion of the sale saw participation from investors, including the Abu Dhabi Investment Authority, on Wednesday. "There were heavy positions in Adani group (shares), the way they have risen in the last couple of years," said Neeraj Dewan, director at Quantum Securities in New Delhi. "This is a classic case of panic selling," he said, noting the concerns were also spreading to Indian banks with exposure to Adani Group's debt. The index tracking state-run banks slid 6.6%, while the main Nifty Bank index fell 3.5%. CLSA estimates that Indian banks were exposed to about 40% of the Rs 2 trillion ($24.53 billion) of Adani Group debt in the fiscal year to March 2022. As of 0818 GMT, investors, mostly retail, had bid for around 266,000 shares of Adani Enterprises, compared with the 45.5 million on offer, according to BSE exchange data. Bidding for retail investors will close on Jan. 31. The share sale is being managed by Jefferies, India's SBI Capital Markets, Axis Capital, and ICICI Securities among others. The firm has set a floor price of Rs 3,112 ($38.22) a share and a cap of Rs 3,276. But on Friday, the stock had slumped to as low as Rs 2,721.65 — well below the lower end of the price offering. Shares of other listed Adani firms also plummeted, with Adani Transmission Ltd, Adani Total Gas, Adani Green Energy and Adani Ports sinking 20% each. "The sell-off is seriously extreme ... it has clearly dented the overall investor sentiment in the market," said Saurabh Jain, Assistant Vice-President, Research, at SMC Global Securities. In its report, Hindenburg said key listed Adani Group companies had "substantial debt", putting the conglomerate on a "precarious financial footing", and that "sky-high valuations" had pushed the share prices of seven listed Adani companies as much as 85% beyond actual value. Billionaire U.S. investor Bill Ackman said on Thursday that he found the Hindenburg report "highly credible and extremely well researched." Hindenburg said it held short positions in Adani through its U.S.-traded bonds and non-Indian-traded derivative instruments, meaning it is betting that their price would fall. Dollar bonds issued by entities of India's Adani Group tumbled on Friday. Adani Group has repeatedly faced and dismissed concern about debt levels. It defended itself in a presentation titled "Myths of Short Seller" on Thursday, saying deleveraging by promoters — or key shareholders — was "in a high growth phase". Jefferies in a client note said Adani Group had shared details of debt and leverage levels, and that it does not "see material risk arising to the Indian banking sector". Adani Group's consolidated gross debt stood at Rs 1.9 trillion ($23.34 billion), Jefferies said. Adani has said its debt is at a manageable level and that no investor has raised any concern. The Adani conglomerate has been diversifying its business interests and last year it bought cement firms ACC and Ambuja Cements from Switzerland's Holcim for $10.5 billion. ACC stock was down 15% on Friday, while Ambuja plunged up to 25%. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

India: Adani Group shares tank, rout touches $45 billion, clouding record share sale

Meta’s stock value plunged 65% year-to-date, the biggest drop among the big five tech companies. Meta share price is around $119, down by over 60% in the last 1-year.

World Business Watch: Meta stock value plunges 65% in 2022; loses $9.4 bn in first 9 months

The U.S prosecutors have charged eight individuals who were operating as Finance influencers in a stock fraud scheme. Watch this report for all the details.

Eight online influencers charged with stock fraud; Twitter & Discord used to manipulate stocks

Amid the ongoing economic hardships in the UK, London has lost EU's stock market crown to Paris. UK economy shrank by 0.2% in the third quarter.

London loses EU's stock market crown to Paris

Days before the deadline to finalise its agreement with Elon Musk, Twitter Inc. has blocked equity award accounts for employees, according to a report by Bloomberg News. This move is an indication that the social media company expects the agreement to be completed.

Twitter shares rose 1.8% to $51.6 following the news, which is still less than Musk's offer price of $54.2 per share.

The Delaware court has ordered <a href="https://www.wionews.com/world/elon-musk-withdraws-proposal-to-pentagon-seking-funds-for-starlink-526391">Musk</a>, the CEO of Tesla Inc., and Twitter to finalise the $44 billion acquisition on October 28. In April, the agreement was initially made public.

According to the article, the social media business informed personnel this week that they won't be able to access or trade shares from the Equity Award Center.

Also read |&nbsp;<a href="https://www.wionews.com/world/florida-governor-desantis-lauds-musk-for-providing-internet-services-to-ukraine-526311">Florida Governor DeSantis lauds Musk for providing internet services to Ukraine</a>

The page said the change was done "in anticipation of the closing of the pending acquisition of Twitter by an entity controlled by Elon Musk," according to the report, citing two people familiar with the change.&nbsp;

In May, Musk attempted to back out of the agreement, claiming that Twitter had overstated the number of spam and bot accounts on its social media network. This sparked a string of legal disputes between the two sides.

The trial that was supposed to take place this week was halted by the judge when Musk changed his mind and declared that he would carry out the agreement under its original provisions earlier this month.

(With inputs from agencies)

WATCH WION LIVE HERE:

<iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/live-tv/embed" style="width:100%;max-width:560px;" width="560"></iframe>

Days before the deadline to finalise its agreement with Elon Musk, Twitter Inc. has blocked equity award accounts for employees, according to a report by Bloomberg News.

Days before the deadline to finalise its agreement with Elon Musk, Twitter Inc. has blocked equity award accounts for employees, according to a report by Bloomberg News. This move is an indication that the social media company expects the agreement to be completed. Twitter shares rose 1.8% to $51.6 following the news, which is still less than Musk's offer price of $54.2 per share. The Delaware court has ordered Musk, the CEO of Tesla Inc., and Twitter to finalise the $44 billion acquisition on October 28. In April, the agreement was initially made public. According to the article, the social media business informed personnel this week that they won't be able to access or trade shares from the Equity Award Center. Also read | Florida Governor DeSantis lauds Musk for providing internet services to Ukraine The page said the change was done "in anticipation of the closing of the pending acquisition of Twitter by an entity controlled by Elon Musk," according to the report, citing two people familiar with the change. In May, Musk attempted to back out of the agreement, claiming that Twitter had overstated the number of spam and bot accounts on its social media network. This sparked a string of legal disputes between the two sides. The trial that was supposed to take place this week was halted by the judge when Musk changed his mind and declared that he would carry out the agreement under its original provisions earlier this month. (With inputs from agencies) WATCH WION LIVE HERE:

Twitter locks employee stock accounts in anticipation of deal

Electric vehicle maker&nbsp;Tesla&nbsp;Inc on Friday proposed a three-to-one stock split, making its shares more affordable following recent sell-offs of the most valuable automaker.

The company also said Oracle Corp co-founder Larry Ellison, a friend of&nbsp;Tesla&nbsp;Chief Executive Officer Elon Musk, will not stand for re-election to&nbsp;Tesla's board when his term ends at this year's shareholder meeting.

Ellison is among the top investors who have promised funding toward Musk's $44 billion acquisition of social media firm Twitter Inc.

Also read |&nbsp;<a href="https://www.wionews.com/world/after-more-crashes-us-auto-safety-regulator-upgrades-tesla-autopilot-safety-investigation-486928">After more crashes, US regulator upgrades Tesla Autopilot safety investigation</a>

Shares of Austin, Texas-based&nbsp;Tesla&nbsp;rose more than 1 per cent&nbsp;in extended trading on Friday. They have fallen nearly 40 per cent&nbsp;since Musk unveiled his stake in Twitter in early April, hurt in part by a strict lockdown in Shanghai that has affected&nbsp;Tesla's production.

Shareholders will vote on&nbsp;Tesla's proposed stock split on August&nbsp;4. If approved, it would be the company's first such action after a five-for-one split in August 2020.

Tesla&nbsp;said the split would enable its employees to "have more flexibility in managing their equity" and make its stock "more accessible to our retail shareholders."

Alphabet Inc, Apple Inc and Amazon.com Inc have also recently split their shares.

While a split has no bearing on a company's fundamentals, it could buoy the share price by making it easier for a wider range of investors to own the stock.

Tesla&nbsp;will also ask shareholders to vote to reduce its board of directors' terms to two years from three. If approved, the terms would be staggered over two years.

Watch |&nbsp;Musk wants to cut Tesla staff by 10%

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/musk-wants-to-cut-tesla-staff-by-10-484800/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

UNION

Meanwhile, proposals by&nbsp;Tesla&nbsp;shareholders include corporate governance-related items such as the right of employees to form a union and&nbsp;Tesla's efforts to prevent sexual harassment and racial discrimination.

"In 2021, the National Labor Relations Board upheld a 2019 ruling that&nbsp;Tesla&nbsp;illegally fired a worker involved in union organizing, and that the CEO had illegally threatened workers regarding unionization," according to a stockholder proposal cited in&nbsp;Tesla's filing.

In March, Musk invited labor union United Auto Workers (UAW) to hold a vote at&nbsp;Tesla's California factory. But "Tesla&nbsp;does not have any formal policy commitments to respect the right to freedom of association, nor has it demonstrated how it would effectively operationalise such a commitment," the proposal said.

Tesla's board advised a vote against the proposal, saying&nbsp;Tesla&nbsp;recently increased the base pay for its manufacturing jobs and it is "actively engaged" in protecting employees' rights.

Shareholders also proposed an annual report on&nbsp;Tesla's efforts to prevent sexual harassment and racial discrimination after it was hit by a string of lawsuits.

A California civil rights agency filed a lawsuit accusing&nbsp;Tesla&nbsp;of failing for years to address widespread racist conduct at its Fremont assembly plant.

Also read |&nbsp;<a href="https://www.wionews.com/south-asia/tesla-goes-ahead-with-china-hiring-event-after-musk-job-warning-486473">Tesla goes ahead with China hiring event after Musk job warning</a>

Tesla&nbsp;said it does not "tolerate discrimination, harassment, retaliation or any mistreatment of employees in the workplace."

Another resolution asked&nbsp;Tesla&nbsp;to evaluate the "impact of&nbsp;Tesla's current use of arbitration on the prevalence of harassment and discrimination in its workplace."

Shareholders also called on the company to report its polices to address perceived lack of gender and racial diversity at its board.

WATCH WION LIVE HERE

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>

You can now write for wionews.com and be a part of the community. Share your stories and opinions with us <a href="https://www.wionews.com/content-contribution-registration-form">here</a>.

Electric vehicle maker Tesla Inc on Friday proposed a three-to-one stock split, making its shares more affordable following recent sell-offs of the most valuable automaker.

Electric vehicle maker Tesla Inc on Friday proposed a three-to-one stock split, making its shares more affordable following recent sell-offs of the most valuable automaker. The company also said Oracle Corp co-founder Larry Ellison, a friend of Tesla Chief Executive Officer Elon Musk, will not stand for re-election to Tesla's board when his term ends at this year's shareholder meeting. Ellison is among the top investors who have promised funding toward Musk's $44 billion acquisition of social media firm Twitter Inc. Also read | After more crashes, US regulator upgrades Tesla Autopilot safety investigation Shares of Austin, Texas-based Tesla rose more than 1 per cent in extended trading on Friday. They have fallen nearly 40 per cent since Musk unveiled his stake in Twitter in early April, hurt in part by a strict lockdown in Shanghai that has affected Tesla's production. Shareholders will vote on Tesla's proposed stock split on August 4. If approved, it would be the company's first such action after a five-for-one split in August 2020. Tesla said the split would enable its employees to "have more flexibility in managing their equity" and make its stock "more accessible to our retail shareholders." Alphabet Inc, Apple Inc and Amazon.com Inc have also recently split their shares. While a split has no bearing on a company's fundamentals, it could buoy the share price by making it easier for a wider range of investors to own the stock. Tesla will also ask shareholders to vote to reduce its board of directors' terms to two years from three. If approved, the terms would be staggered over two years. Watch | Musk wants to cut Tesla staff by 10% UNION Meanwhile, proposals by Tesla shareholders include corporate governance-related items such as the right of employees to form a union and Tesla's efforts to prevent sexual harassment and racial discrimination. "In 2021, the National Labor Relations Board upheld a 2019 ruling that Tesla illegally fired a worker involved in union organizing, and that the CEO had illegally threatened workers regarding unionization," according to a stockholder proposal cited in Tesla's filing. In March, Musk invited labor union United Auto Workers (UAW) to hold a vote at Tesla's California factory. But "Tesla does not have any formal policy commitments to respect the right to freedom of association, nor has it demonstrated how it would effectively operationalise such a commitment," the proposal said. Tesla's board advised a vote against the proposal, saying Tesla recently increased the base pay for its manufacturing jobs and it is "actively engaged" in protecting employees' rights. Shareholders also proposed an annual report on Tesla's efforts to prevent sexual harassment and racial discrimination after it was hit by a string of lawsuits. A California civil rights agency filed a lawsuit accusing Tesla of failing for years to address widespread racist conduct at its Fremont assembly plant. Also read | Tesla goes ahead with China hiring event after Musk job warning Tesla said it does not "tolerate discrimination, harassment, retaliation or any mistreatment of employees in the workplace." Another resolution asked Tesla to evaluate the "impact of Tesla's current use of arbitration on the prevalence of harassment and discrimination in its workplace." Shareholders also called on the company to report its polices to address perceived lack of gender and racial diversity at its board. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Tesla to seek investor approval for 3-for-1 stock split

After unusually heavy rains caused vegetable prices to surge, the Chinese government has urged families to keep daily necessities in stock in case of emergencies. Earlier, concerns were also raised about shortage of supply. &nbsp;

In a statement, commerce ministry late on Monday told local authorities to do a good job in ensuring supply and stable prices. It also told to give early warnings of any supply issues. &nbsp;

Also Read:&nbsp;<a href="https://www.wionews.com/world/by-2030-climate-change-may-trigger-24-dip-in-global-corn-yields-says-study-426059" hreflang="en">By 2030, climate change may trigger 24% dip in global corn yields, says study</a>

In the run-up to China's most important holiday, the Lunar New Year, the central government goes an extra mile to boost the supply of fresh vegetables and pork. It will fall in early February next year. &nbsp;

This year, the efforts have become more urgent as extreme weather destroyed crops in Shandong in early October. It is the country's biggest vegetable growing region. &nbsp;&nbsp;

From the northwest to the northeast of the country, the outbreaks of Covid cases threaten to disrupt food supplies. &nbsp;

Also Read:&nbsp;<a href="https://www.wionews.com/world/china-eases-power-crunch-with-boost-to-coal-production-426056" hreflang="en">China eases power crunch with boost to coal production</a>

Last week, the price of spinach, broccoli and cucumbers had more than doubled from early October. In recent days, the prices have also eased. &nbsp;

Local authorities should purchase vegetables that can be stored and also look to strengthen emergency delivery networks to guarantee smooth and efficient distribution channels, added the commerce ministry. &nbsp;&nbsp;

(With inputs from agencies)&nbsp;

After unusually heavy rains caused vegetable prices to surge, the Chinese government has urged families to keep daily necessities in stock in case of emergencies.

After unusually heavy rains caused vegetable prices to surge, the Chinese government has urged families to keep daily necessities in stock in case of emergencies. Earlier, concerns were also raised about shortage of supply. In a statement, commerce ministry late on Monday told local authorities to do a good job in ensuring supply and stable prices. It also told to give early warnings of any supply issues. Also Read: By 2030, climate change may trigger 24% dip in global corn yields, says study In the run-up to China's most important holiday, the Lunar New Year, the central government goes an extra mile to boost the supply of fresh vegetables and pork. It will fall in early February next year. This year, the efforts have become more urgent as extreme weather destroyed crops in Shandong in early October. It is the country's biggest vegetable growing region. From the northwest to the northeast of the country, the outbreaks of Covid cases threaten to disrupt food supplies. Also Read: China eases power crunch with boost to coal production Last week, the price of spinach, broccoli and cucumbers had more than doubled from early October. In recent days, the prices have also eased. Local authorities should purchase vegetables that can be stored and also look to strengthen emergency delivery networks to guarantee smooth and efficient distribution channels, added the commerce ministry. (With inputs from agencies)

Stock daily necessities, China tells families ahead of winter

Benchmark indices ended lower in the volatile trade on July 26 with Nifty below 15,850.

The 30-share BSE barometer closed at 52,852 levels, down 123.5 points or 0.23 per cent, while its NSE counterpart shut shop 32 points or 0.2 per cent lower at 15,824-mark. The broader markets, however, outperformed the frontline indices with the BSE MidCap and SmallCap indices adding 0.06 per cent and 0.34 per cent, respectively.

The Nifty energy index fell 1%, while the bank, auto, and PSU Bank indices also finished lower.

However, there was modest buying in the metal, pharmaceutical, and information technology sectors.&nbsp;

Indian rupee ended flat at 74.40 per dollar, amid volatile trade saw in the domestic equity market.

It opened marginally lower at 74.46 per dollar against Friday's close of 74.40 and traded in the range of 74.40-74.52.

(With inputs from agencies)

Benchmark indices ended lower in the volatile trade on July 26 with Nifty below 15,850. The 30-share BSE barometer closed at 52,852 levels, down 123.5 points or 0.

Benchmark indices ended lower in the volatile trade on July 26 with Nifty below 15,850. The 30-share BSE barometer closed at 52,852 levels, down 123.5 points or 0.23 per cent, while its NSE counterpart shut shop 32 points or 0.2 per cent lower at 15,824-mark. The broader markets, however, outperformed the frontline indices with the BSE MidCap and SmallCap indices adding 0.06 per cent and 0.34 per cent, respectively. The Nifty energy index fell 1%, while the bank, auto, and PSU Bank indices also finished lower. However, there was modest buying in the metal, pharmaceutical, and information technology sectors. Indian rupee ended flat at 74.40 per dollar, amid volatile trade saw in the domestic equity market. It opened marginally lower at 74.46 per dollar against Friday's close of 74.40 and traded in the range of 74.40-74.52. (With inputs from agencies)

Sensex, Nifty end lower amid volatility

Amazon.com Inc plans to award incoming Chief Executive Andy Jassy more than $200 million in extra stock, which will pay out over 10 years, the company said in a regulatory filing on Friday. 
 
Amazon will record the grant of 61,000 shares on July 5, the filing said. That's the date Jassy succeeds Jeff Bezos in the online retailer's first CEO transition since its founding in 1994. As of Friday's close, those shares are worth about $214 million. 
 
The award's exact value will depend on how the shares are trading when they pay out in future years, encouraging Jassy to grow a company that's worth $1.77 trillion today. Though Amazon did not disclose the vesting schedule, its previous stock grants have not vested right away. 
 
Jassy's base salary has been $175,000, filings show. On top of that, he has $45.3 million in previously awarded stock that is vesting this year and had $41.5 million vest in 2020. 
 
The annual median pay at Amazon was $29,007 last year across full, part-time and temporary employees worldwide, excluding Bezos, whose base salary was $81,840. The founder's outsized stake in Amazon has made him the richest person in the world. 
 
Jassy's vested equity was still smaller than payouts to rival CEOs in the technology industry. Microsoft Corp's Satya Nadella had $215 million in stock vest for the fiscal year ended June 30, 2020, on top of a base salary of $2.5 million, for instance. Apple Inc's Tim Cook had $281.9 million in stock vest, according to its 2021 proxy. 
 
Some governance experts have criticised such pay schemes because they reward executives irrespective of whether they achieve corporate milestones. Stock grants can be more appropriate for startups than for established companies like Amazon, said, John C&nbsp;Coffee Jr, director of the Center on Corporate Governance at Columbia Law School. 
 
“It is rewarding compensation a little prematurely,” Coffee said. “It’s like winning the prize for the race before the race is won.” 
 
Amazon plans to stop its prior biannual stock grants to Jassy, aiming for the latest award to account for most of his compensation in the coming years, a person familiar with the matter said. 
 
(With inputs from agencies)

Amazon.com Inc plans to award incoming Chief Executive Andy Jassy more than $200 million in extra stock, which will pay out over 10 years, the company said in a regulatory filing on Friday.

Amazon.com Inc plans to award incoming Chief Executive Andy Jassy more than $200 million in extra stock, which will pay out over 10 years, the company said in a regulatory filing on Friday. Amazon will record the grant of 61,000 shares on July 5, the filing said. That's the date Jassy succeeds Jeff Bezos in the online retailer's first CEO transition since its founding in 1994. As of Friday's close, those shares are worth about $214 million. The award's exact value will depend on how the shares are trading when they pay out in future years, encouraging Jassy to grow a company that's worth $1.77 trillion today. Though Amazon did not disclose the vesting schedule, its previous stock grants have not vested right away. Jassy's base salary has been $175,000, filings show. On top of that, he has $45.3 million in previously awarded stock that is vesting this year and had $41.5 million vest in 2020. The annual median pay at Amazon was $29,007 last year across full, part-time and temporary employees worldwide, excluding Bezos, whose base salary was $81,840. The founder's outsized stake in Amazon has made him the richest person in the world. Jassy's vested equity was still smaller than payouts to rival CEOs in the technology industry. Microsoft Corp's Satya Nadella had $215 million in stock vest for the fiscal year ended June 30, 2020, on top of a base salary of $2.5 million, for instance. Apple Inc's Tim Cook had $281.9 million in stock vest, according to its 2021 proxy. Some governance experts have criticised such pay schemes because they reward executives irrespective of whether they achieve corporate milestones. Stock grants can be more appropriate for startups than for established companies like Amazon, said, John C Coffee Jr, director of the Center on Corporate Governance at Columbia Law School. “It is rewarding compensation a little prematurely,” Coffee said. “It’s like winning the prize for the race before the race is won.” Amazon plans to stop its prior biannual stock grants to Jassy, aiming for the latest award to account for most of his compensation in the coming years, a person familiar with the matter said. (With inputs from agencies)

Amazon to grant new CEO Jassy over $200 million in stock

Europe's major stock markets rose Thursday as investors marked time&nbsp;before&nbsp;a Bank of England interest&nbsp;rate&nbsp;decision, and after a mixed performance in Asia.

In late morning deals, London&nbsp;stocks&nbsp;gained 0.2 per cent with the British central bank's monetary policy committee (MPC) forecast to hold rates at a record low 0.1 per cent at 1100 GMT.

In the eurozone, Frankfurt&nbsp;stocks&nbsp;climbed 0.8 per cent and Paris won 0.9 per cent, compared with Wednesday's close.

"Stocks&nbsp;seem to be largely marking time until there is more clarity on economic data like inflation&nbsp;with the major&nbsp;European&nbsp;bourses a little higher this morning," noted Markets.com analyst Neil Wilson.

"Sterling trades&nbsp;close to $1.40 ahead of the Bank of England. No change is expected but there are signs that inflation might run hotter than the MPC currently forecasts so we will be watching for any commentary around this."

<a href="https://www.wionews.com/world/almost-2000-venezuelan-refugees-murdered-in-colombia-in-five-years-ngo-says-393564">Also Read |&nbsp;Almost 2,000 Venezuelan refugees murdered in Colombia in five years, NGO says</a>

The BoE is the latest major central bank to weigh fears of spiking inflation against the need to nurture economic recovery from Covid.

Both the US Federal Reserve and&nbsp;European&nbsp;Central Bank kept their own ultra-low rates and economic support measures intact in recent weeks, insisting that high inflation is a temporary side-effect from the global rebound.

Back in Asia on Thursday, equities traded mixed as investors took a breather after the latest rally and attempted to assess when the Fed will begin to wind down its vast monetary easing programme.

After a troubled start to the week, equities across much of Asia have enjoyed healthy gains in the past two days as US central bank chiefs looked to temper fears that record-low interest rates and colossal bond-buying were in their final throes.

Traders have for months worried that the blistering global recovery will fan inflation and force officials to act.

And the Fed -- which has consistently said recent inflation spikes were temporary and it will maintain its policy as long as the economy needs -- last Wednesday suggested for the first time it could lift borrowing costs in 2023, a year earlier than initially targeted.

The past few days have seen a number of top officials try to tame expectations, which provided some solace, but traders remain nervous.

Oil climbs

Oil prices rose again, having dipped slightly after Saudi Arabia's energy minister Prince Abdulaziz bin Salman said OPEC and other major producers had a part in "taming and containing, by making sure that this market doesn't get out of hand".

The sharp&nbsp;rise&nbsp;in commodities this year has also played a key role in the global spike in inflation.

His comments come just ahead of the latest output policy meeting of the group and as crude prices sit around multi-year highs.

Oil has rallied this week to hit October 2018 peaks on Wednesday, propelled by hopes of a global demand recovery.

Key figures at 0930 GMT&nbsp;

London - FTSE 100: UP 0.2 percent at 7,088.45 points

Frankfurt - DAX 30: UP 0.8 percent at 15,574.03

Paris - CAC 40: UP 0.9 percent at 6,610.39

EURO STOXX 50: UP 0.9 percent at 4,113.86

Tokyo - Nikkei 225: FLAT at 28,875.23 (close)

Hong Kong - Hang Seng Index: UP 0.2 percent at 28,882.46 (close)

Shanghai - Composite: FLAT at 3,566.65 (close)

New York - Dow: DOWN 0.2&nbsp;percent at 33,874.24 (close)

Euro/dollar: UP at $1.1927 from $1.1926 at 2100 GMT

Pound/dollar: UP at $1.3972 from $1.3964

Euro/pound: DOWN at 85.37 pence from 85.41 pence

Dollar/yen: DOWN at 110.86 yen from 110.96 yen

Brent North Sea crude: UP 0.4 percent at $75.45 per barrel

West Texas Intermediate: UP 0.3 percent at $73.27 per barrel

Europe's major stock markets rose Thursday as investors marked time before a Bank of England interest rate decision, and after a mixed performance in Asia. In late morning deals, London stocks gained 0.

Europe's major stock markets rose Thursday as investors marked time before a Bank of England interest rate decision, and after a mixed performance in Asia. In late morning deals, London stocks gained 0.2 per cent with the British central bank's monetary policy committee (MPC) forecast to hold rates at a record low 0.1 per cent at 1100 GMT. In the eurozone, Frankfurt stocks climbed 0.8 per cent and Paris won 0.9 per cent, compared with Wednesday's close. "Stocks seem to be largely marking time until there is more clarity on economic data like inflation with the major European bourses a little higher this morning," noted Markets.com analyst Neil Wilson. "Sterling trades close to $1.40 ahead of the Bank of England. No change is expected but there are signs that inflation might run hotter than the MPC currently forecasts so we will be watching for any commentary around this." Also Read | Almost 2,000 Venezuelan refugees murdered in Colombia in five years, NGO says The BoE is the latest major central bank to weigh fears of spiking inflation against the need to nurture economic recovery from Covid. Both the US Federal Reserve and European Central Bank kept their own ultra-low rates and economic support measures intact in recent weeks, insisting that high inflation is a temporary side-effect from the global rebound. Back in Asia on Thursday, equities traded mixed as investors took a breather after the latest rally and attempted to assess when the Fed will begin to wind down its vast monetary easing programme. After a troubled start to the week, equities across much of Asia have enjoyed healthy gains in the past two days as US central bank chiefs looked to temper fears that record-low interest rates and colossal bond-buying were in their final throes. Traders have for months worried that the blistering global recovery will fan inflation and force officials to act. And the Fed -- which has consistently said recent inflation spikes were temporary and it will maintain its policy as long as the economy needs -- last Wednesday suggested for the first time it could lift borrowing costs in 2023, a year earlier than initially targeted. The past few days have seen a number of top officials try to tame expectations, which provided some solace, but traders remain nervous. Oil climbs Oil prices rose again, having dipped slightly after Saudi Arabia's energy minister Prince Abdulaziz bin Salman said OPEC and other major producers had a part in "taming and containing, by making sure that this market doesn't get out of hand". The sharp rise in commodities this year has also played a key role in the global spike in inflation. His comments come just ahead of the latest output policy meeting of the group and as crude prices sit around multi-year highs. Oil has rallied this week to hit October 2018 peaks on Wednesday, propelled by hopes of a global demand recovery. Key figures at 0930 GMT London - FTSE 100: UP 0.2 percent at 7,088.45 points Frankfurt - DAX 30: UP 0.8 percent at 15,574.03 Paris - CAC 40: UP 0.9 percent at 6,610.39 EURO STOXX 50: UP 0.9 percent at 4,113.86 Tokyo - Nikkei 225: FLAT at 28,875.23 (close) Hong Kong - Hang Seng Index: UP 0.2 percent at 28,882.46 (close) Shanghai - Composite: FLAT at 3,566.65 (close) New York - Dow: DOWN 0.2 percent at 33,874.24 (close) Euro/dollar: UP at $1.1927 from $1.1926 at 2100 GMT Pound/dollar: UP at $1.3972 from $1.3964 Euro/pound: DOWN at 85.37 pence from 85.41 pence Dollar/yen: DOWN at 110.86 yen from 110.96 yen Brent North Sea crude: UP 0.4 percent at $75.45 per barrel West Texas Intermediate: UP 0.3 percent at $73.27 per barrel

European stocks rise before UK rate decision

Indian stock markets closed in the red on Wednesday. Benchmark indices opened in the green but failed to hold at the highs and slumped.

The S&amp;P BSE Sensex index closed at 52,306 levels, down 282.6 points or 0.54 per cent while the Nifty50 index ended at 15,687 levels, down 86 points or 0.54 per cent.

Maruti Suzuki, Titan Company, Bajaj Finserv, M&amp;M, Ultratech Cement, Hero MotoCorp, and ONGC were the top gainers in the large-cap space while Adani Ports, Wipro, JSW Steel, Divis Labs, Shree Cement, L&amp;T, Kotak Bank, and TCS were the top laggards.

(With inputs from agencies)

Indian stock markets closed in the red on Wednesday. Benchmark indices opened in the green but failed to hold at the highs and slumped. The S&P BSE Sensex index closed at 52,306 levels, down 282.

Indian stock markets closed in the red on Wednesday. Benchmark indices opened in the green but failed to hold at the highs and slumped. The S&P BSE Sensex index closed at 52,306 levels, down 282.6 points or 0.54 per cent while the Nifty50 index ended at 15,687 levels, down 86 points or 0.54 per cent. Maruti Suzuki, Titan Company, Bajaj Finserv, M&M, Ultratech Cement, Hero MotoCorp, and ONGC were the top gainers in the large-cap space while Adani Ports, Wipro, JSW Steel, Divis Labs, Shree Cement, L&T, Kotak Bank, and TCS were the top laggards. (With inputs from agencies)

Sensex ends at 52,306, Nifty below 15,700

Indian stock market indices, Sensex and Nifty ended lower on Wednesday dragged by metals and banking stocks amid mixed global cues.&nbsp;

Broader markets, smallcap and midcap indices also declined. Barring Nifty FMCG and Nifty IT, all other sectoral indices witnessed selling pressure.

BSE Sensex fell 271 points or 0.51 per cent to 52,502, while the broader Nifty 50 index declined 102 points or 0.64 per cent to settle at 15,767. The top BSE Sensex laggards were Power Grid Corporation of India, IndusInd Bank, Reliance Industries Ltd (RIL), L&amp;T, and UltraTech Cement, among others.

Global market

Asian shares were subdued on Wednesday with investors wary of any hint of hawkishness from the US Federal Reserve given lofty asset valuations rely so heavily on an endless supply of super-cheap money.

Japan's Nikkei ended 0.5 per cent lower and China's Shanghai Index dipped 1 per cent. South Korea's Kospi and Australia's ASX200, on the other hand, gained 0.6 per cent and 0.01 per cent, respectively.&nbsp;

In Europe, gains in financial and industrial stocks lifted indices, with the pan-European STOXX 600 up 0.2 per cent.

(With inputs from Reuters)

Indian stock market indices, Sensex and Nifty ended lower on Wednesday dragged by metals and banking stocks amid mixed global cues. Broader markets, smallcap and midcap indices also declined.

Indian stock market indices, Sensex and Nifty ended lower on Wednesday dragged by metals and banking stocks amid mixed global cues. Broader markets, smallcap and midcap indices also declined. Barring Nifty FMCG and Nifty IT, all other sectoral indices witnessed selling pressure. BSE Sensex fell 271 points or 0.51 per cent to 52,502, while the broader Nifty 50 index declined 102 points or 0.64 per cent to settle at 15,767. The top BSE Sensex laggards were Power Grid Corporation of India, IndusInd Bank, Reliance Industries Ltd (RIL), L&T, and UltraTech Cement, among others. Global market Asian shares were subdued on Wednesday with investors wary of any hint of hawkishness from the US Federal Reserve given lofty asset valuations rely so heavily on an endless supply of super-cheap money. Japan's Nikkei ended 0.5 per cent lower and China's Shanghai Index dipped 1 per cent. South Korea's Kospi and Australia's ASX200, on the other hand, gained 0.6 per cent and 0.01 per cent, respectively. In Europe, gains in financial and industrial stocks lifted indices, with the pan-European STOXX 600 up 0.2 per cent. (With inputs from Reuters)

Sensex falls 271 points, Nifty ends below 15,800

The Nifty50 on the National Stock Exchange continued to hit new highs and touched a fresh record high of 15,693.15 points on Thursday morning. 
 
The Indian stock market traded in tandem with its Asian peers. 
 
Around 10.30 a.m., Nifty was trading at 15,655.10, higher by 78.90 points or 0.51 per cent from its previous close of 15,576.20. 
 
Manish Hathiramani, technical analyst with Deen Dayal Investments said: "The Index has opened in fine form this morning. We should be targeting the level range of 15,900-16,000. The overall trend is positive and hence any intra-day correction should be positively utilised to enter into long positions." 
 
"A good support lies at 15,300 and as long as we can hold that, there is no concern on the downside of the Nifty," he added. 
 
The BSE Sensex was trading at 52,120.90, higher by 271.42 points or 0.52 per cent from its previous close of 51,849.48. 
 
It opened at 52,121.58 and has so far touched an intra-day high of 52,240.61 and a low of 52,087.60 points. 
 
The top gainers on the Sensex were Titan Company, Kotak Mahindra and ONGC, while the major losers were Bajaj Auto, IndusInd Bank and State Bank of India.

The Nifty50 on the National Stock Exchange continued to hit new highs and touched a fresh record high of 15,693.15 points on Thursday morning. The Indian stock market traded in tandem with its Asian peers.

The Nifty50 on the National Stock Exchange continued to hit new highs and touched a fresh record high of 15,693.15 points on Thursday morning. The Indian stock market traded in tandem with its Asian peers. Around 10.30 a.m., Nifty was trading at 15,655.10, higher by 78.90 points or 0.51 per cent from its previous close of 15,576.20. Manish Hathiramani, technical analyst with Deen Dayal Investments said: "The Index has opened in fine form this morning. We should be targeting the level range of 15,900-16,000. The overall trend is positive and hence any intra-day correction should be positively utilised to enter into long positions." "A good support lies at 15,300 and as long as we can hold that, there is no concern on the downside of the Nifty," he added. The BSE Sensex was trading at 52,120.90, higher by 271.42 points or 0.52 per cent from its previous close of 51,849.48. It opened at 52,121.58 and has so far touched an intra-day high of 52,240.61 and a low of 52,087.60 points. The top gainers on the Sensex were Titan Company, Kotak Mahindra and ONGC, while the major losers were Bajaj Auto, IndusInd Bank and State Bank of India.

Nifty record run continues, Sensex cross 52,000

Indian stock market indices, Sensex and Nifty recouped losses to end flat on Wednesday. Broader markets outperformed the benchmarks as the midcap and smallcap indices closed over a per cent higher each. 
 
Among sectors, strong gains were seen in PSU Banks, metals, auto and realty indices, while Nifty FMCG and Nifty IT ended in the red.

BSE Sensex ended at 51,849 levels, down 85 points or 0.16 per cent, with ITC (down 3 per cent), Asian Paints, HDFC, Axis Bank, Tech M, HCL Tech, and TCS leading the list of losers. This was countered by gains in IndusInd Bank, Reliance Industries, SBI, Power Grid, Bajaj Auto, and Maruti Suzuki, which rallied up to 2 per cent.

On the NSE, the Nifty50 index settled at 15,576 levels, up 1 point. Both the indices hit their respective lows of 51,450 and 15,460 earlier in the day. &nbsp;

Meanwhile, the Indian rupee ended lower at 73.08 per dollar, amid volatility in the domestic equity market. The local currency opened 18 paise lower at 73.08 per dollar against Tuesday's close of 72.90 and traded in the range of 73.04-73.31.

(With inputs from agencies)

Indian stock market indices, Sensex and Nifty recouped losses to end flat on Wednesday. Broader markets outperformed the benchmarks as the midcap and smallcap indices closed over a per cent higher each.

Indian stock market indices, Sensex and Nifty recouped losses to end flat on Wednesday. Broader markets outperformed the benchmarks as the midcap and smallcap indices closed over a per cent higher each. Among sectors, strong gains were seen in PSU Banks, metals, auto and realty indices, while Nifty FMCG and Nifty IT ended in the red. BSE Sensex ended at 51,849 levels, down 85 points or 0.16 per cent, with ITC (down 3 per cent), Asian Paints, HDFC, Axis Bank, Tech M, HCL Tech, and TCS leading the list of losers. This was countered by gains in IndusInd Bank, Reliance Industries, SBI, Power Grid, Bajaj Auto, and Maruti Suzuki, which rallied up to 2 per cent. On the NSE, the Nifty50 index settled at 15,576 levels, up 1 point. Both the indices hit their respective lows of 51,450 and 15,460 earlier in the day. Meanwhile, the Indian rupee ended lower at 73.08 per dollar, amid volatility in the domestic equity market. The local currency opened 18 paise lower at 73.08 per dollar against Tuesday's close of 72.90 and traded in the range of 73.04-73.31. (With inputs from agencies)

Sensex falls 85 points, Nifty closes flat at 15,576

Indian shares extended gains on Tuesday, as investor sentiment remained upbeat due to strong corporate earnings and some decline in domestic cases of the novel coronavirus. 
 
The blue-chip NSE Nifty 50 index rose 0.54% to 15,270.25 by 0355 GMT, while the benchmark S&amp;P BSE Sensex was 0.48% higher at 50,920.06. 
 
Infosys Ltd and Asian Paints Ltd were the top boosts to the Nifty 50, gaining 0.86% and 2.68%, respectively. 
 
Investors` appetite has been aided by a steady decline in daily COVID-19 cases in India. The country on Tuesday posted 196,427 new cases over the last 24 hours, its lowest daily rise in infections since April 14, while deaths rose by 3,511. 
 
In the broader Asian markets, shares climbed following a Wall Street rally overnight, while the dollar held near a fourth-month low as investors tempered fears about inflation-driven rate hikes.

Indian shares extended gains on Tuesday, as investor sentiment remained upbeat due to strong corporate earnings and some decline in domestic cases of the novel coronavirus.

Indian shares extended gains on Tuesday, as investor sentiment remained upbeat due to strong corporate earnings and some decline in domestic cases of the novel coronavirus. The blue-chip NSE Nifty 50 index rose 0.54% to 15,270.25 by 0355 GMT, while the benchmark S&P BSE Sensex was 0.48% higher at 50,920.06. Infosys Ltd and Asian Paints Ltd were the top boosts to the Nifty 50, gaining 0.86% and 2.68%, respectively. Investors` appetite has been aided by a steady decline in daily COVID-19 cases in India. The country on Tuesday posted 196,427 new cases over the last 24 hours, its lowest daily rise in infections since April 14, while deaths rose by 3,511. In the broader Asian markets, shares climbed following a Wall Street rally overnight, while the dollar held near a fourth-month low as investors tempered fears about inflation-driven rate hikes.

Indian shares gain on strong earnings; Asian Paints, Infosys shine

Sensex and Nifty ended with strong gains Friday led by broad-based buying across sectors amid positive global cues. All sectoral indices closed in the green with Nifty Bank surging over 3 per cent followed by financial services, IT, auto and realty indices.&nbsp;

Sensex gained 950 points, or 1.92 per cent, at 50,520 levels and the Nifty50 index topped the 15,150-mark. IndusInd Bank, State Bank of India, and ICICI Bank rose 4 per cent, each, and were the top Sensex gainers.

The Nifty sectoral indices were painted green, with the Nifty Bank index trading 3.5 per cent higher.

In the broader markets, the S&amp;P BSE MidCap and SmallCap indices traded 0.8 per cent and 0.7 per cent higher, respectively.

(With inputs from agencies)

Sensex and Nifty ended with strong gains Friday led by broad-based buying across sectors amid positive global cues. All sectoral indices closed in the green with Nifty Bank surging over 3 per cent followed by financial services, IT, auto and realty indices.

Sensex and Nifty ended with strong gains Friday led by broad-based buying across sectors amid positive global cues. All sectoral indices closed in the green with Nifty Bank surging over 3 per cent followed by financial services, IT, auto and realty indices. Sensex gained 950 points, or 1.92 per cent, at 50,520 levels and the Nifty50 index topped the 15,150-mark. IndusInd Bank, State Bank of India, and ICICI Bank rose 4 per cent, each, and were the top Sensex gainers. The Nifty sectoral indices were painted green, with the Nifty Bank index trading 3.5 per cent higher. In the broader markets, the S&P BSE MidCap and SmallCap indices traded 0.8 per cent and 0.7 per cent higher, respectively. (With inputs from agencies)

Sensex surges 975 points, Nifty ends above 15,150 led by banks

The benchmark S&amp;P BSE Sensex closed the session at 48,677.5 levels, up 424 points or 0.88 per cent. In the intra-day trade, the 30-share barometer hit a high and low of 48,743 and 48,254, respectively.

On the NSE, the Nifty50 hit an intra-day high of 14,637 but shut shop at 14,618 levels, up 121 points or 0.84 per cent.

In the broader markets, the S&amp;P BSE MidCap index settled over 1 per cent higher while the S&amp;P BSE SmallCap index gained 0.7 per cent.

Global markets

European stocks bounced back on Wednesday after a sharp selloff in the previous session, helped by gains in commodity and banking stocks. The pan-European STOXX 600 index rose 1.3 per cent, with the German DAX jumping 1.3 per cent and the UK's FTSE 100 gaining 1.1 per cent.

On Wall Street, futures of all three main indices were ruling up to 0.5 per cent higher.

(With inputs from Reuters)

The benchmark S&P BSE Sensex closed the session at 48,677.5 levels, up 424 points or 0.88 per cent. In the intra-day trade, the 30-share barometer hit a high and low of 48,743 and 48,254, respectively.

The benchmark S&P BSE Sensex closed the session at 48,677.5 levels, up 424 points or 0.88 per cent. In the intra-day trade, the 30-share barometer hit a high and low of 48,743 and 48,254, respectively. On the NSE, the Nifty50 hit an intra-day high of 14,637 but shut shop at 14,618 levels, up 121 points or 0.84 per cent. In the broader markets, the S&P BSE MidCap index settled over 1 per cent higher while the S&P BSE SmallCap index gained 0.7 per cent. Global markets European stocks bounced back on Wednesday after a sharp selloff in the previous session, helped by gains in commodity and banking stocks. The pan-European STOXX 600 index rose 1.3 per cent, with the German DAX jumping 1.3 per cent and the UK's FTSE 100 gaining 1.1 per cent. On Wall Street, futures of all three main indices were ruling up to 0.5 per cent higher. (With inputs from Reuters)

Sensex ends at 48,677, Nifty closes at 14,617

Domestic stock market indices fell sharply going into the last hour of trade on Tuesday amid fresh woes about the impact of coronavirus on business as BCCI cancelled the ongoing IPL season after several players and support staff turned COVID-19 positive.&nbsp;

S&amp;P BSE Sensex ended at 48,253, down 465 points while the Nifty 50 index closed just shy of 14,500. Reliance Industries was the biggest Sensex drag, falling 2.11%. It was followed by Sun Pharma, Dr Reddy’s, and HDFC Twins.&nbsp;

ONGC, Bajaj Finance, and TCS were the top gainers. &nbsp;Nifty PSU Bank index was the only sectoral gauge to close in the green. Broader markets mirrored the fall and closed with losses.

Global markets

Economically sensitive sectors, including miners, travel and energy, drove gains in European stocks on Tuesday, with British shares outperforming after a holiday-extended weekend.

The pan-European STOXX 600 index rose 0.4 per cent in early trading, with the German DAX up 0.2 per cent, and the UK's FTSE 100 rising 0.8 per cent.

Earlier in Asia, South Korea's Kospi added 0.6 per cent and Australia's S&amp;P/ASX200 gained 0.5 per cent.

(With inputs from Reuters)

Domestic stock market indices fell sharply going into the last hour of trade on Tuesday amid fresh woes about the impact of coronavirus on business as BCCI cancelled the ongoing IPL season after several players and support staff turned COVID-19 positive.

Domestic stock market indices fell sharply going into the last hour of trade on Tuesday amid fresh woes about the impact of coronavirus on business as BCCI cancelled the ongoing IPL season after several players and support staff turned COVID-19 positive. S&P BSE Sensex ended at 48,253, down 465 points while the Nifty 50 index closed just shy of 14,500. Reliance Industries was the biggest Sensex drag, falling 2.11%. It was followed by Sun Pharma, Dr Reddy’s, and HDFC Twins. ONGC, Bajaj Finance, and TCS were the top gainers. Nifty PSU Bank index was the only sectoral gauge to close in the green. Broader markets mirrored the fall and closed with losses. Global markets Economically sensitive sectors, including miners, travel and energy, drove gains in European stocks on Tuesday, with British shares outperforming after a holiday-extended weekend. The pan-European STOXX 600 index rose 0.4 per cent in early trading, with the German DAX up 0.2 per cent, and the UK's FTSE 100 rising 0.8 per cent. Earlier in Asia, South Korea's Kospi added 0.6 per cent and Australia's S&P/ASX200 gained 0.5 per cent. (With inputs from Reuters)

Sensex ends 465 points lower, Nifty just shy of 14,500

stock

Stock, News on Stock, stories on Stock, articles on Stock, Stock stories at Wion, Stock news, Stock latest news