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Upcoming smartphones launching in India in November 2024

The <keyword id="23960239" type="General" weightage="100" keywordseo="Leonid-Meteor-Shower" source="keywords">Leonid meteor shower</keyword>, one of the most iconic celestial events, is currently active. If you missed its peak on the nights of November 17-18, don’t worry; the shower should still retain some razzle dazzle over the next few days. For stargazers in India, this cosmic show promises a breathtaking experience if the skies remain clear and moonlight isn’t too bright.<br /><h3 style="line-height:1.38;margin-top:14.0pt;margin-bottom:4.0pt;">What makes the <keyword id="24047570" type="General" weightage="20" keywordseo="leonids" source="keywords">Leonids</keyword> special?</h3>The Leonids are famous for their speed and brilliance, with meteors zipping through the atmosphere at an astonishing 70 km/s. They originate from debris left behind by <keyword id="24047566" type="General" weightage="20" keywordseo="Comet-55P/Tempel-Tuttle" source="keywords">Comet 55P/Tempel-Tuttle</keyword>, which orbits the Sun every 33 years. Occasionally, the shower transforms into a spectacular meteor storm, with thousands of meteors per hour. Though this phenomenon won’t occur this year, the Leonids remain a treat for skywatchers.<br /><h3 style="line-height:1.38;margin-top:14.0pt;margin-bottom:4.0pt;">Best time and how to watch in India</h3>To watch the showers, you have to stay up somewhat late into the night, as the radiant point in the constellation Leo becomes visible after midnight. Under ideal conditions, observers might spot around 10 meteors per hour, disappearing sometime after dawn breaks the next day. However, the waning gibbous moon may reduce visibility, so patience is key.<br /><br />To view the shower effectively, find a dark spot away from city lights and allow your eyes to adjust to the dark for at least 30 minutes. Don’t focus directly on Leo (the radiant point), as meteors will streak across the entire sky. You can also use apps or star maps to locate Leo, marked by its bright star Regulus and a sickle-shaped pattern representing the lion’s mane.<br /><h3 style="line-height:1.38;margin-top:14.0pt;margin-bottom:4.0pt;">Fun and practical tips for stargazing</h3>Pack warm clothing, a reclining chair, and a thermos of hot tea to stay cozy while watching. No binoculars or telescopes are needed — just the naked eye and a sense of wonder. If you're a photography enthusiast, a DSLR with a wide-angle lens can help you capture the meteor trails.<br /><br />The Leonids’ fiery streaks and occasional fireballs make them an unmissable celestial event. Even if the moonlight dims their intensity this year, the experience of lying under the stars and marveling at this cosmic spectacle is well worth it.<br /><br />For the best results, keep checking local weather forecasts for clear skies and head out to dark rural areas if possible. Happy stargazing!<br />

Leonid Meteor Shower at peak: How to watch it in India

Indian companies across multiple sectors have reported disappointing results in the second quarter of fiscal year 2025, notes a new JM Financials report. Consequently, their poor performance has triggered stock price corrections for affected companies. The brunt of this weaker than expected earnings was largely borne by consumer centric sectors like FMCG (fast moving consumer goods), retail, and auto, which slacked largely due to dampened urban demand.<br /><br />For instance, India's largest automaker, Maruti Suzuki, reported a 5% YoY decline in its total domestic passenger vehicle wholesales, largely on the back of pent-up inventory. Similarly, Honda reported a staggering 23% YoY dip in its total sales during October 2024. <br /><br />A recent report by Bernstein noted that around 48% of the companies listed on the NSE100 index missed their earnings estimate for Q2FY25, the highest since March 2020. Most companies have mentioned deteriorated domestic demand, urban slowing, macroeconomic risk, and margin pressures as the main reasons behind the dip. <br /><br />"The quarter's earnings have made investors nervous," noted the JM Financials report. The challenging environment stems from multiple factors: softening consumer demand, rising input costs, and companies' limited ability to increase prices. Moreover, this is not limited to just one quarter. Companies have been reporting weak, single-digit earnings growth for the last six consecutive quarters. <br /><br />Data from India Data Hub also suggests that corporate profits of listed companies plunged by as much as 3.4% during the quarter ended September 30, 2024. This is in stark contrast to the year-ago period, where they had shot up by over 40% <br /><br />The oil and gas sector had a difficult quarter, with refiners hit by weak margins and city gas distributors struggling with higher input costs. Financial institutions showed mixed results. While government-owned banks reported strong numbers, microfinance institutions and some private lenders faced massive difficulties with their unsecured loans. Most notable amongst this was the case of IndusInd Bank, which saw its net profits dip by 40% amidst burgeoning provisions, which climbed 87% to Rs 1,820 crore in Q2, as against Rs 974 crore reported in the year-ago period. <br /><br /><h2>Markets head southwards</h2>The selling trend by FPIs has dragged down the major Indian indices, the Nifty 50 and Sensex, both of which have dropped by around 8% since the beginning of this selling spree in October. According to National Securities Depository Ltd. (NSDL) data, FPIs offloaded equities worth a significant Rs 19,994 crore in just the first five trading sessions of November last week.<br /><br />The impact is clearly visible on Indian stock markets. Data suggests that while every sector in October closed the month in red, auto, oil and gas, and consumer durables were the most badly hit, each declining by as much as 10% during the month. Another indicator underlining the inherent weakness of the market was that the month saw only 242 stocks hit their 52-week high, significantly below the usual monthly average of 310. <br />

India Inc. stares at an earnings dearth in Q2, FMCG, auto, and consumer durables falter

Foreign investors have withdrawn nearly Rs 20,000 crore from Indian stock markets in just five trading days (November 4–8), continuing a trend of large-scale selling that began last month. Experts say investors are now moving their money to China, largely due to the high valuations presently prevailing in Indian markets.<br /><br />In early November, FPIs have offloaded as much as Rs 19,994 crore in Indian markets. The month prior, i.e., October, was one of the worst months in terms of foreign outflows, with FPIs making a net withdrawal of Rs 94,017 crore. Before this, Indian markets faced such a situation during the pandemic, when FPIs withdrew Rs 61,973 crore from equities in March 2020.<br /><br /><h2>Why Are Investors Leaving?<br /></h2>According to Himanshu Srivastava of Morningstar Investment Research India, two main factors are driving this exodus. First is China's renewed appeal due to lower stock valuations and new economic stimulus measures. In a bid to nudge the domestic economy and bail state governments, China recently approved a 10-trillion yuan (US $1.4 trillion) package. Per reports, approximately 60% of this stimulus focuses on allowing local governments to refinance the mountain of debt on them. <br /><br />Srivastava explains foreign investors are also flocking to US dollar and Treasury yields, which have appreciated significantly in the recent past, leading FPIs to anticipate a stronger US economy going ahead. <br /><br />Moreover, high valuations in Indian markets are discouraging foreign investors from putting more money in the economy. As a result, over the past week, the selling pressure eroded Rs 74,563 crore in market value for Reliance Industries, while Bharti Airtel and ICICI Bank lost Rs 26,274 crore and Rs 22,254 crore, respectively. The combined market valuation of six of the top 10 most-valued firms dipped by Rs 1,55,721.12 crore last week.<br /><h2><br />Silver linings</h2>Despite the ongoing outflux of funds since last month, November also saw unprecedented applications of about 40–50 new FPI registrations, which are eyeing to enter the Indian market. This was due to markets SEBIs recent relaxation to NRIs, permitting them to participate up to 100% and announcing measures for ease of entry and operations in India. <br /><br />On the other hand, FPIs invested Rs 599 crore in the debt general limit and Rs 2,896 crore in the debt voluntary retention route (VRR) during the period under review. So far this year, FPIs have invested Rs 1.06 lakh crore in the debt market. <li class="whitespace-normal break-words"></li>Going ahead, investors will be looking for certain macroeconomic cues, which include corporate earnings reports, India's inflation (CPI) and industrial production (IIP) data on November 12, the US inflation report on November 13, and wholesale price index (WPI) data on November 14. <br />

FPIs withdraw nearly Rs 20,000 crore from equities in the last 5 trading sessions, make a beeline for China and US

In a recent notification, the <keyword id="20004725" type="General" weightage="100" keywordseo="NSE" source="keywords">NSE</keyword> (National Stock Exchange) noted that markets will remain closed on Wednesday, November 20, 2024, on account of state elections taking place in Maharashtra. However, <keyword id="19895774" type="General" weightage="20" keywordseo="BSE" source="keywords">BSE</keyword> has issued no notification on this matter so far. However, given how both the exchanges largely operate in sync, BSE is likely to declare a holiday as well.<br /><br />Before the elections, both BSE and NSE will be shut for trading on November 15 as well, on account of <keyword id="23718443" type="General" weightage="20" keywordseo="Guru-Nanak-Jayanti" source="keywords">Guru Nanak Jayanti</keyword>. Next month, the bourses will remain closed for regular trade on Christmas, i.e., December 25. <br /><br />Earlier this week, Brihanmumbai Municipal Corporation (BMC) mandated that all businesses and workplaces in Mumbai should grant paid leave on November 20, 2024, to all its employees so that they can participate in state elections. Failure to do so could mean penalties for employers. All the 288 states in the Maharashtra state assembly are set to go to polls in a single phase on November 20. <br /><strong><h2>Markets close the week on muted note <br /></h2></strong>Both Nifty and Sensex closed the week on a damp note, with Nifty dipping 0.21% to close at 24,148.20 points. On the other hand, Sensex also slipped below the 80,000 mark to close the week at 79,486.32 points. Of the 50 stocks that constitute Nifty, 23 stocks advanced during the day, while 27 saw declines. However, this week has not been all that bad for the markets, with Nifty rising 0.31% and Sensex inching up 0.65% during the last 5 days. <br /><br /> All broad market indices fell during today's trade, with smallcaps falling by over 1.5%, while midcaps also closed the day over 1% down. <br /><br />As for sectoral indices, most of them ended the week in reds, with realty and media losing over 2% during trading today. Pharmaceuticals, healthcare, and consumer durables recorded marginal upticks during the day, inching up by 0.07%, 0.22%, and 0.41%, respectively. <br /><br />FIIs (<keyword id="19932515" type="General" weightage="20" keywordseo="foreign-institutional-investors" source="keywords">foreign institutional investors</keyword>) continued their selling spree today as well. In this month so far, FIIs have been net cash sellers, offloading around Rs 16,445.49 crore. DIIs (domestic institutional investors) have stepped in to maintain some balance by becoming net buyers worth Rs 12,265.74 crore in November till date. <br /><br />Shrikant Chouhan, Head Equity Research, Kotak Securities, explains that global market sentiment saw sharp volatility in the aftermath of Republicans winning all three branches of the US government, resulting in rising US bond yields and the dollar, as well as the US equity markets beating most EMs. Meanwhile, the Q2 FY25 earnings season continued to remain weak, with more misses than hits observed. <keyword id="20993056" type="General" weightage="20" keywordseo="FPI-flows" source="keywords">FPI flows</keyword> are expected to remain volatile for some time to come. <br /><br />Amidst emerging markets, only Brazil saw inflows worth $115 million between November 1 and 7, 2024. <br />

Markets to remain shut on November 20 due to Maharashtra elections

With the West Bengal Assembly bypolls around the corner, a recent analysis by the West Bengal Election Watch and Association for Democratic Reforms (ADR) has shed light on the profiles of candidates in the fray. The study reveals that among the 41 candidates contesting in the upcoming bypolls, seven have serious criminal cases pending, while another seven are crorepatis.<br /><h2>Criminal cases: BJP tops the list</h2>The ADR analysis shows that out of the seven candidates with serious criminal cases, four are from the Bharatiya Janata Party (BJP), two from the Trinamool Congress (TMC), and one from Congress. These cases range from non-bailable offences to electoral violations and financial fraud, with maximum punishments extending to five years or more. Offences in this category include serious crimes such as murder, kidnapping, and violations of the Prevention of Corruption Act or crimes against women.<br /><br />The bypolls will take place on November 13 in the constituencies of Coochbehar Sitai (SC), Haroa, Naihati, Medinipur, Taldangra, and Madarihat (ST). However, the affidavit for one candidate, independent contestant Pankaj Lohra from Madarihat (ST), could not be reviewed due to missing documents.<br /><h2>Wealthiest candidates</h2>In addition to those with criminal cases, seven candidates declared assets exceeding Rs 1 crore. Congress leads in this regard, with three crorepati candidates, followed by the BJP with two, and the TMC and CPIM(L) with one each. According to the affidavits, the wealthiest candidate is TMC's <keyword id="23849799" type="General" weightage="20" keywordseo="sanat-dey" source="keywords">Sanat Dey</keyword> from Naihati, who has assets worth Rs 4.9 crore, including Rs 1.8 crore in immovable property.<br /><br />Following him is BJP's Ananya Roy Chakraborty, who is contesting from Taldangra, with assets totalling nearly Rs 3 crore. TMC’s Shyamal Kumar Ghosh, running for the Medinipur seat, declared assets of approximately Rs 1.69 crore. On average, the candidates’ assets are valued at around Rs 58.14 lakh.<br /><br />In contrast to the wealthiest candidates, Kashikanta Barman from the Kamatapur Peoples Party (United), contesting from Coochbehar Sitai (SC), has declared the lowest assets, amounting to just Rs 5,000. This wide range of wealth highlights the diverse financial backgrounds of candidates in the bypolls.<br /><br /><em>(With inputs from agencies)</em><br />

West Bengal bypolls to feature seven candidates with serious criminal cases including murder and kidnapping

Global markets are looking ahead to the US Fed's meeting scheduled for Thursday, November 7, 2024, expecting the Jerome Powell-chaired FOMC (Federal Open Market Committee) to slash interest rates further by 0.25%. In September this year, the Fed surprised the markets by cutting interest rates by a massive 0.5%, for the first time in 4 years. <br /><br />As per the <keyword id="23807624" type="General" weightage="20" keywordseo="CME-Fed-Watch-Tool" source="keywords">CME Fed Watch Tool</keyword>, there is now a 99.5% chance that the Fed will reduce the interest rates by around 25 basis points, bringing it within the range of 4.5% to 4.75%. Only 0.5% believe that the Fed might leave the rates unchanged, within their present range of 4.75% to 5%.<br /><br />As for the Fed's December meeting, scheduled for December 18, per the CME Fed Watch tool, 79.5% believe that interest rates would be in the range of 4.25% to 4.5%. Another 20.4% believe that yields will remain in the range of 4.5% and 4.75%. Only 0.1% see the interest rates staying within their current range of 4.75% to 5% <br /><br /><h2>No major changes anticipated</h2>However, it is unlikely that this quarter-point rate cut would bring about any significant financial changes in the US economy. The Fed is again expected to bring down the interest rates by another 25 basis points in their December meeting. This would imply a total rate cut of about 50 basis points by the end of this year. <br /><br />So, why is the Fed not bringing down interest rates by 50 basis points in one fell swoop this time around? Why wait till December to bring down the rates by another 25 basis points? Experts believe that it could stoke inflation, which has seen a sharp decline in the recent past. A steep slash of borrowing rates could accelerate borrowing activity and inject significant cash into the economy at once, pushing up inflation. Per the Fed's recent projections, a total of 4 rate cuts are anticipated in 2025. <br /><br />On a YoY basis, inflation in the US dipped to 2.4%, close to the Fed's target of 2%. With inflationary pressures reined in, the economy growing at the rate of 2.8% during the third quarter of FY24, and the unemployment rate down to 4.1%, the markets see much merit in bringing interest rates down.<br /><br /> This is especially important to boost spending, particularly in sectors such as housing and automobiles, where even a slight tinkering in interest rates can drastically impact the amount and volume of loans taken to own them. <br /><br />Data suggests that during Trump's presidency tenure, i.e., between 2017 and 2021, inflation averaged at a rate of 1.9% a year. During the Biden administration, where Kamala Harris served as VP, the inflation is on track to average around 5% a year.<br /><br />Shrisha Acharya, Vice President, Anand Rathi Global Finance, also notes that the results of the impending US elections, which are likely to be declared tomorrow, will impact the yields and stock markets. <br /><br />"The Trump card, coupled with potential Republican control, could mean higher bond yields due to anticipated increases in deficit spending, inflation risks, and potential tax cuts. This could very well jiggle the confidence in U.S. Treasury bonds and thus start a chain effect that will possibly impact global market stability and lead to short-term volatility. On the other hand, Harris’ rise has been met with a stock market rally glued on expectations of economic stability and controlled inflation, with more predictable fiscal policy likely to help in a soft landing," he explains.<br />

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Upcoming smartphones launching in India in November 2024

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Leonid Meteor Shower at peak: How to watch it in India

BI India Bureau

India Inc. stares at an earnings dearth in Q2, FMCG, auto, and consumer durables falter

Ira Alok Puranik

FPIs withdraw nearly Rs 20,000 crore from equities in the last 5 trading sessions, make a beeline for China and US

BI India Bureau

Markets to remain shut on November 20 due to Maharashtra elections

BI India Bureau

West Bengal bypolls to feature seven candidates with serious criminal cases including murder and kidnapping

BI India Bureau

What can you expect from the US Fed meeting later this week? Here's all you need to know

Ira Alok Puranik

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