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Sensex, Nifty slip after two-day rally as investors eye US CPI; Nifty FMCG defies market slump

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After two days of gains, the Sensex and Nifty 50 slipped 0.5 percent in a volatile session on September 11, as investors braced for the release of the US CPI data later today. Except for Nifty FMCG, all other sectoral indices closed in the red, with auto and energy stocks dragging the market lower. Vinod Nair, Head of Research at Geojit Financial Services, remarked that concerns over US political risks and fears of a recession could trigger short-term caution in global markets.   At close, the Sensex was down 357 points or 0.4 percent at 81,563 and the Nifty was down 122 points or 0.5 percent at 24,918. About 1,551 shares advanced, 2,242 shares declined, and 98 shares were unchanged. The broader market mirrored the decline in benchmarks, with both the BSE Midcap and Smallcap indices falling by 0.5 percent.   Nifty Bank fell by half a percent on the day of the weekly expiry of BANKNIFTY futures contract.   The auto index fell 1.2 percent dragged down by Tata Motors and Mahindra &

Slumptember: $550 billion as tech giants and crypto markets sink

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    Global markets took a sharp downturn on September 3 as both tech stocks and cryptocurrencies faced significant losses. The “Magnificent 7” tech companies, including Google’s parent company Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla, collectively lost $550 billion in market capitalisation. This marks one of the largest daily losses for these tech giants in recent months. The slump coincided with a 6% crash in the cryptocurrency markets, with total market capitalisation dropping by approximately $100 billion.     Bitcoin saw a decline of more than 5%, hitting $55,746 during early trading in Asia, while Ethereum fell 7% to just above $2,300 before a slight recovery. The downturn is being referred to as ‘Slumptember’, as September has historically been a bearish month for both stock and crypto markets. Nvidia experienced one of its sharpest declines since April 2024, largely due to an antitrust subpoena from the United States Department of Justice. Analysts note tha

Bitcoin overnight sell-off takes it below $56,000 before stabilizing

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    Bitcoin slid back toward $55,000 overnight as it caught up with Tuesday’s broader market sell-off. On Wednesday, the price of the flagship cryptocurrency was lower by more than 2% at $56,481.90, according to Coin Metrics. It fell sharply Tuesday night — to as low as $55,673.80 — with the start of Asia-Pacific trading but has stabilized since then.   Coinbase and MicroStrategy fell 3% and 2%, respectively. Tech stocks struggled in U.S. trading Tuesday – the sector is coming off worst day since September 2022 – while two readings of manufacturing production showed signs of weakness, rekindling fears about the health of the economy. Japan’s Nikkei 225 and the broad-based Topix finished Wednesday trading with their worst one-day loss since the Aug. 5 sell-off.   Lately, bitcoin’s moves are sometimes more muted than stocks’ during U.S. hours on big market days. James Davies, co-founder at crypto trading platform Crypto Valley Exchange, explained that traders react “more dynamically”

Urvashi Rautela receives 1 lac roses from fans after 'minor' injury

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  Bollywood actress and model Urvashi Rautela claims she received at least 1 lac luxury roses from her fans after she was hospitalized with a minor injury.   Urvashi Rautela recently suffered a minor injury on her finger after which she was rushed to the hospital and requested her fans via an Instagram post to pray for her.   Now, the actress took to her Instagram handle and posted pictures and a video with many bouquets of fresh roses that she had received from her fans to wish her a speedy recovery.   “1 LAC 1,00,000 LUXURY ROSES FROM MY DIEHARD FANS WISHING SPEEDY RECOVERY,” Rautela claimed in the caption of Instagram posts. sections, to troll the celebrity about her ‘delulu land’.   “First youngest Indian actress to have diehard fans (others only have ‘diesoft’ fans),” commented a Redditor, while another questioned, “Luxury roses kya hote hain (What are they)? What else does my middle class a** not know? Are there luxury trees too? Jhaad (Branch) by Dior. Ganna (Sugercane) by Gu

Shawn Mendes hails Taylor Swift pal Gracie Abrams' latest single as 'great'

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   Shawn Mendes praised Gracie Abrams latest single I Love You, I'm Sorry, from her album The Secret of Us. Taking to Instagram Story on Wednesday, Shawn called Gracie's track as "great."   Sharing the link of the song, the Stitches hitmaker captioned it "@gracieabrams so so great" with teary eyes and a red heart emoji. Shawn's praise for Gracie comes as no surprise, considering them being mutual friends with pop icon Taylor Swift. Gracie and Taylor share a strong connection having collaborated on the track Us from the same album. The singer also made a memorable surprise guest appearance at Taylor's Eras Tour, performing their collaborated song together. Meanwhile, Shawn has himself worked with Taylor in the past, contributing to a remix of her hit song, Lover. He also served as an opening act on selected dates of the Blank Space crooner's 1989 World Tour. This praise for Gracie comes as the There’s Nothing Holdin’ Me Back singer is alre

Taylor Swift Vienna concert: CIA releases shocking statement

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CIA has revealed the impact the Eras Tour terror plot could've had if not stopped timely, claiming 'tens of thousands' lives were at risk, especially Americans. CIA Deputy Director David S. Cohen shared new details during the annual Intelligence Summit just outside Washington, D.C., The New York Times reported.   “They were plotting to kill a huge number, tens of thousands of people at this concert, I am sure many Americans,” Cohen said, without disclosing how the CIA learned of the alleged plot.   “The Austrians were able to make those arrests because the agency and our partners in the intelligence community provided them information about what this ISIS-connected group was planning to do," he continued.   Concert promoter Barracuda Music announced the cancellation on August 7 on the safe side, writing that they had 'no choice but to cancel' the August 8, 9, and 10 performances. Three boys were arrested with links to the terror plot, including two Austria

Get Hired! Week of August 28 2024

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      Check back for job opportunities and tips week-to-week. Does working in the natural resources sector interest you? Are you between the ages of 15 and 30?  NRCan’s Science & Technology Internship Program (STIP)—Green Jobs  supports youth in gaining work experience and skills through full time paid internships. Apply to be an intern on one of their many delivery organization pages, today! Consider applying to the  Agriculture and Agri-Food (AAFC) Talent Inventory  in the areas of Student Rehire Opportunities, Post Graduation (Student Bridging) Job Opportunities, and General AAFC Job Opportunities. It only takes 15 minutes to apply! Check out  UMCareers  for Full-time openings at the University of Manitoba! Positions include an Instructor – Department of Supply Chain Management (Requisition No. 33443), a Audio Visual Specialist (Requisition No. 34370), and a Biological Technician (Requisition No. 34941). There are 68 openings for full-time positions  available on  UM Connect  wi