Sensex down 300 pts in opening deals; Nifty below 21,400

Every decade or so, Reliance Industries Ltd (RIL) sets on a new growth strategy, nudging the markets to value its stock price for newer businesses. For the company’s latest energy initiative to expand its green energy and storage portfolio, some analysts are beginning to suggest a closer look at some of its segments.  READ MORE

State Bank of India, the country’s largest lender, has slowed unsecured retail loans as the lender will focus on ‘healthy’ growth, even if overall loan growth is expected to stay robust at 15 per cent in this financial year amid steady demand from corporates, Chairman Dinesh Khara said. READ MORE

Here are two sets of bare facts. One, private mutual funds were permitted to be set up in 1993 and in the next 21 years, until the end of 2014, their equity investment had gradually touched Rs 2 trillion, spread across pure equity funds, balanced funds, and equity-linked savings schemes. At the current rate of growth, by March 2024, equity assets held by mutual funds are expected to touch an astounding Rs 24 trillion. READ MORE

Dalal Street bulls got a shot in their arm last week after the US Fed signalled a pivot and three rate cuts in 2024. So will the Sensex and Nifty extend their rally into this week? Watch Video

While the merger between the two companies received the requisite approvals, differences cropped up over who would helm as the chief executive officer of the merged entity. READ MORE

Stocks to watch on Monday, December 18, 2023: Shares of Zee Entertainment are likely to be in focus as company seeks an extension to complete the proposed merger with Sony India. READ MORE

Bitcoin, and more broadly cryptocurrencies, is edging closer to becoming a “mainstream alternative financial asset” as it becomes more easily available via traditional financial (or TradFi) instruments. The government of El Salvador (which uses Bitcoin as an alternative currency) has completed the formalities for launching a Bitcoin “volcano” bond. A proposal to list a spot Bitcoin exchange-traded fund (ETF) from one of global finance’s most marquee firms, BlackRock, awaits approval from the United States’ markets regulator, the Securities and Exchange Commission (SEC). This is in addition to the Nasdaq listing of several companies focused on cryptomining. READ MORE

The gap between market capitalisation of Hong Kong and India has dwindled significantly. At present, India’s market cap stands at approximately $4.3 trillion, while Hong Kong’s is around $4.7 trillion. READ MORE