Top Stories | Devendra Fadnavis returns as Maharashtra CM, RBI repo rate decision tomorrow, Bitcoin tops $100k mark and more – CNBC TV18
| Company | Value | Change | %Change |
|---|
In stock markets, the Sensex and Nifty ended higher for the fifth straight session today, even though there were some wild swings in late trade. However, midcaps couldn’t keep up and underperformed. In the currency market, the Indian rupee remains near its record low against the dollar.
Meanwhile, the Reserve Bank’s Monetary Policy Committee (MPC) will announce its rate decision tomorrow. A CNBC-TV18 poll suggests most economists don’t expect a repo rate cut, despite the recent weaker-than-expected GDP growth. Interestingly, only 50% of those polled expect a cash reserve ratio cut.
From the global markets, its official—Bitcoin has crossed the $100,000 mark, up a whopping 140% in 2024. The rally picked up serious steam after Donald Trump’s victory and his announcement to appoint crypto-friendly Paul Atkins as the next SEC Chair.
Weak employee compensation is back in the spotlight. There are growing calls for India Inc to rethink hiring practices, ramp up capital spending, and embrace deregulation—set to be a key theme in the upcoming Economic Survey.
World Economic Forum President Borje Brende has dubbed India the “Startup Nation” of the world. In an exclusive chat, he highlighted that the Indian economy is expected to remain among the fastest-growing globally.
CDSL, BSE shares hit record highs — Here is how other market-linked stocks are faring
Shares of Central Depository Services Ltd. (CDSL) surged as much as 10% on Thursday, December 5. The stock hit a record high of ₹1,865.4 in today’s trading session. The stock has risen 19% so far over the last month. Shares are also the latest entrant in the Futures & Options segment.
With today’s move, shares of CDSL have doubled in value in 2024. In line with the move in CDSL, shares of the Bombay Stock Exchange (BSE) have also surged as much as 12% on Thursday to hit a record high of ₹5,168.9. BSE has also entered the F&O segment from the December series.
BSE shares have risen 9% so far in the last one month and have extended their gains for 2024 to 128%.
RBI Monetary Policy: Status quo on rates expected, CRR cut under watch, finds CNBC-TV18 poll
The sharp slowdown in growth has put the Reserve Bank of India (RBI) in a very uncomfortable position. There is a growing chorus for a rate cut, including from government officials at a time when high inflation, which has now breached RBI tolerance threshold, continues to be a spot of bother.
A CNBC-TV18 poll shows that seven out of ten economists believe the recent weaker-than-expected GDP growth is unlikely to prompt an early rate cut, with inflation concerns expected to take priority.
Bitcoin competes with gold, not the US dollar: Jerome Powell
Jerome Powell, the Federal Reserve chair, while speaking at the Ney York Times DealBook Summit, said that Bitcoin is not comparable to currency. Rather it is a speculative asset like gold but in a virtual form.
Powell further explained that Bitcoin isn’t by people as a form of payment. Moreover it is very volatile as well.
CEA sets economic priorities in run-up to the Economic Survey: private sector, wages, hiring, MSME and deregulation in focus
V Anantha Nageswaran, India’s Chief Economic Advisor (CEA) to the Finance Ministry, has elaborated on some of the priorities for India Inc., states, and probably even the union government to push India’s growth levers.
The first among the priorities is for the private sector to increase employee compensation and arrest the shift in hiring from regular to contractual labour. The CEA says employee compensation has become “weaker and weaker,” with earnings growth vastly outpacing wages in the last four years.
Devendra Fadnavis takes oath as Maharashtra CM, Ajit Pawar, Eknath Shinde sworn-in as Deputies
BJP leader Devendra Fadnavis was sworn in as Maharashtra’s Chief Minister for the third time at a grand ceremony at Azad Maidan on Thursday, December 5. NCP chief Ajit Pawar and Shiv Sena leader Eknath Shinde took oath as Deputy Chief Ministers.
Maharashtra Governor CP Radhakrishnan administered the oath. Prime Minister Narendra Modi, who attended the ceremony, congratulated Fadnavis, Shinde, and Pawar on their appointments.
Israel’s War In Gaza Amounts To Genocide: Amnesty International | Israel-Gaza War
International human rights group Amnesty has accused Israel of committing genocide against Palestinians In Gaza. In a report, Amnesty has said Israel’s war on Gaza meets the legal threshold for genocide.
India Supports The Two-State Solution: EAM S Jaishankar On The Israel-Hamas Conflict
External Affairs Minister S Jaishankar has reiterated India’s stance on the Israel-Hamas war. Answering a question in Rajya Sabha, minister Jaishankar said that India calls for a ceasefire in Gaza, however will not accept a peace resolution if it’s not a balanced one.
Hooded assailant who murdered UnitedHealthcare CEO with silenced gun still on the run
New York police were searching on Thursday for the man who shot dead UnitedHealth executive Brian Thompson in a brazen attack outside a Midtown Manhattan hotel and was last seen fleeing into Central Park.
Thompson, the CEO of UnitedHealth’s insurance unit, was shot from behind on Wednesday morning in what police described as a targeted attack by a masked assailant lying in wait. It came just before the company’s annual investor conference at the Hilton on Sixth Avenue.
Foreign airlines ramp up India operations as international traffic soars
India’s aviation market is booming, with daily passenger traffic reaching a record high of five lakh. A significant portion of these passengers are heading to international destinations, signalling strong growth in outbound travel.
India’s aviation market is booming, with daily passenger traffic reaching a record high of five lakh. A significant portion of these passengers are heading to international destinations, signalling strong growth in outbound travel.
Zomato shares cross ₹300; Swiggy hits new highs but Jefferies raises some concerns
Shares of food delivery and quick commerce aggregators Zomato Ltd. and Swiggy Ltd. hit new highs on Thursday, December 5.
Zomato shares surged as much as 6.5% on Thursday to cross the mark of ₹300, making a new high of ₹304.65. The stock has now gained in seven out of the last nine trading sessions. The stock has gained 24% in the last one month.
Shares of Swiggy too are up for the fourth day running, extending their gains despite reporting a net loss during the quarter. The management gave timelines towards profitability, which the street appears to be appreciating.
ISRO Proba 3 Satellite Launch Latest Updates: PSLV rocket lifts off from Sriharikota
The ISRO on Thursday successfully launched the PSLVC59 rocket with the European Space Agency’s Proba3 satellites from here, in a first of its kind initiative involving precision formation flying of two satellites.
In a social media post after the lift off, the Bengaluru-based space agency said, “Lift off achieved. PSLV-C59 has successfully soared into the skies, marking the commencement of a global mission led by NSIL, with ISRO’s technical expertise, to deploy ESA’s groundbreaking PROBA-3 satellites. A proud moment celebrating the synergy of international collaboration and India’s space achievements.” Proba-3 (Project for Onboard Anatomy) consists of two satellites in which two spacecraft would fly together as one, maintaining precise formation down to a single millimetre to study the Corona, the Sun’s outer atmosphere.
That’s all folks! Keep yourself up to date with the latest news, views and ideas to make money only on cnbctv18.com.
Beyond #Newsroom
Follow the CNBC-TV18 channel on WhatsApp
Catch crispy news updates on the go!- CNBCTV18 Minis
Watch all #videos under one segment- CNBCTV18 Binge
We bring you real-time updates and analysis of the stock market- Real-time market updates
We’ll see you tomorrow with another engaging ‘Top 10@10’
