Sensex soars 728 pts, Nifty ends above 20K after over 2 mths in broad rally

Closing Bell on Wednesday, November 29, 2023: Among sectors, the Nifty bank, Auto, Financial Services, IT, PSU bank, and Private Bank indices ended higher in the range of 1 per cent to 1.5 per cent

SI Reporter New Delhi

Photo: Bloomberg

8:27 AM

'A man who built a lasting brand': Deepak Shenoy on Munger

8:25 AM

'Everyone needs a Munger in his life': Samir Arora on Charlie Munger's demise

8:23 AM

Indian market veterans mourn Munger's death

8:19 AM

South Korea markets will offer the highest earnings growth next year, Goldman Sachs says

>> South Korean stocks have so far emerged as an undervalued and underloved part of Asia-Pacific equity markets but that is exactly what could make them attractive to investors next year, according to Goldman Sachs.

>> Goldman believes that South Korea markets offer the highest potential earnings growth in 2024 in the Asia-Pacific region as its semiconductor sector recovers from steep profit declines.

>> The investment firm remains overweight on South Korean stocks.

>>"“We forecast EPS growth to rebound to 54% in 2024 and to grow 20% further in 2025,” Goldman said with regards to Korea's Kospi benchmark index.

Source: CNBC

8:17 AM

Australia's inflation rate slows more than expected in October

>> Australia's weighted inflation rate for October slowed more than expected, coming in at 4.9% compared with the 5.2% expected by economists polled by Reuters.

>> This was also lower than the 5.6% seen in September.

>> The overall inflation rate stood at 4.8%, its lowest level since January 2022.

Source: CNBC

8:15 AM

Charlie Munger, Warren Buffet's sidekick at Berkshire Hathaway, dies at 99

Munger preferred to stay in the background and let Buffett be the face of Berkshire, and he often downplayed his contributions to the company's remarkable success. But Buffett always credited Munger with pushing him beyond his early value investing strategies to buy great businesses. READ MORE

8:13 AM

Asia markets mixed as they assess US Fed officials' comments

8:11 AM

US consumer confidence rebounds, house prices maintain upward trend

>> US consumer confidence rose in November after three straight monthly declines,

>> Americans planning big-ticket purchases like motor vehicles and houses over the next six months

>> Despite the rebound in morale, which was driven by an improvement in expectations, about two-thirds of consumers surveyed this month still perceived a recession to be "somewhat" or "very likely" to happen over the next year.

Source: Reuters

8:09 AM

With Fed likely done hiking rates, Waller flags pivot ahead

>> Federal Reserve policymakers look increasingly comfortable closing out the year with US interest rates on hold and the clock ticking on how soon to deliver a first rate cut as they try to engineer a "soft landing" for the economy.

>> "I am increasingly confident that policy is currently well positioned to slow the economy and get inflation back to 2%," ed Governor Christopher Waller, a hawkish and influential voice at the central bank, told the American Enterprise Institute think tank on Tuesday.

>> If the decline in inflation continues "for several more months ... three months, four months, five months ... we could start lowering the policy rate just because inflation is lower," he added.

Source: Reuters

8:07 AM