YES Bank failed to see a change of fortunes as the stock plunged nearly 10 per cent in Friday’s day, after ratings agency Moody’s downgraded its credit profile. Vodafone Idea closed 5 per cent lower after Kumar Mangalam Birla said the company may have to shut shop if the government doesn’t come to its aid. Most bank stocks ended with deep cuts a day after RBI kept its policy rates unchanged, going against all expectations. Nifty PSU Bank index dived over 4 per cent. BSE flagship Sensex shed 334 points to close at 40,445 while its NSE counterpart Nifty ebbed 96.90 points to 11,921. Broader market indices underperformed and bled through the day. “Clouds over economic growth outlook and premium valuation influenced investors to stay away from rate-sensitive stocks. While a rise in 10-year yields due to a spike in inflation, a potential slippage by the government on fiscal discipline may result in near-term consolidation of the market,” said Vinod Nair, … [Read more...] about After Market: Voda Idea, PSU banks bleed; 23 stocks cross 50-EMAs
City plans from decades past often have a musty air. They’re laced with assumptions that sounded good at the time, but in hindsight run the gamut from frightening to lame. Then there are the ones with details that ring all too true — such as San Francisco’s downtown plan from 1963, with its succinct and thoroughly convincing case for why cars should be banned from Market Street. Which will finally start to happen in January — a lag of 57 years. The Market Street saga is a sobering reminder of how long it can take people to accept the obvious. It also underscores the way that basic realities of city life endure across generations, even as technologies and trends seem to mutate before our our eyes. I stumbled across “Downtown San Francisco: General Plan Proposals” last month, shortly after the legal deadline to challenge the city’s Better Market Street plan came and went with nobody filing an appeal. It’s an ambitious plan to do away with … [Read more...] about A visionary plan to rid SF’s Market Street of cars — in 1963. Sound familiar?
The size of the global market for true wireless hearables is expected to touch 120 million units this year and 230 million units in 2020, growing 90 per cent year on year (YoY), said a new report on Friday. According to Counterpoint Research's "Hearables Market Forecast", even as Apple's market share fell to 45 per cent in Q3 2019, it will likely take more than 50 per cent of the market share on an annual basis. "The true wireless hearables market will have a similar growth momentum as the early smartphone market a decade ago. The CAGR of the smartphone market from 2009 to 2012 was 80 per cent, and the true wireless hearables market is expected to grow at 80 per cent CAGR from 2019 to 2022 as well," Liz Lee, Senior Analyst at Counterpoint Research, said in a statement. In 2020, the market will become more dynamic as tech giants such as Amazon, Google and Microsoft are entering the true wireless hearables industry and existing smartphone makers such as Samsung, Xiaomi and Huawei will … [Read more...] about Global true wireless hearables market to grow 90% in 2020: Report
Nigerian equities market on Wednesday rebounded with N133 billion after two days of consecutive downward trend. Specifically, the market capitalisation which opened at N13.342 trillion inched N133 billion or one per cent to close at N13.457 trillion. Flooding: FCTA distributes N150m agro-inputs to Abuja farmers(Opens in a new browser tab) Also, the All-Share Index surged 274.57 points or one per cent to close at 27,681.61 against 27,407.04 achieved on Tuesday. The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are Stanbic IBTC Holdings, Guaranty Trust Bank, MTN Nigeria, Ecobank Transnational Inc. (ETI) and Lafarge Africa. Analysts at Afrinvest Limited said that “ in the absence of any major stimulus, we expect a bearish performance for the rest of the week. “Nonetheless, we see opportunities for bargain hunting in stocks with sound fundamentals,” they said. Market breadth closed positive with 24 gainers against 13 … [Read more...] about Nigeria equities market rebound by N133bn
The national market lifted 0.8 per cent over the last month. Sydney had been at the centre of the downturn, but the New South Wales capital appears to be once again on the rise. It was the best performing capital city in the three months to August, with its median price rising 1.9 per cent according to new Corelogic data. Melbourne’s recovery is also in full swing with a quarterly rise of 1.8 per cent although both major cities are still more than 6 per cent lower year-on-year. Hobart was the only other capital to lift over the three months, rising 1 per cent, while Perth led the losses, falling 1.8 per cent, followed by Darwin, down 1.7 per cent. “The significant lift in values over the month aligns with a consistent increase in auction clearance rates and a deeper pool of buyers at a time when the volume of stock advertised for sale remains low,” Corelogic research director Tim Lawless said. “It’s likely that buyer demand and confidence is responding to … [Read more...] about Housing market: Australian house prices increased by 0.8% in August