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<div type="image" title="For the unversed, trading in futures and options can be akin to setting their hard-earned money on fire" height="900" width="1200" msid="114064202" hostid="261" caption="&amp;lt;p&amp;gt;For the unversed, trading in futures and options can be akin to setting their hard-earned money on fire&amp;lt;/p&amp;gt;"></div> Once upon a time, there thrived a wild, wild land. Here, it was all about super high monetary stakes, lightning-fast trade deals, and bucketloads of money shifting hands every single second. This wilderness lured millions of individuals with the promise of super duper high returns. But, at what cost? Welcome to the unforgiving, ultra-risky wild west of <keyword id="19991165" type="General" weightage="20" keywordseo="Indian-equity-markets" source="keywords">Indian equity markets</keyword> called the <keyword id="145718" type="General" weightage="100" keywordseo="Futures-and-Options" source="Orion">futures and options</keyword>. Here, everyone seems to just fly right through the bright red-flagged warnings of financial risks to earn even a fraction of these promised returns. Most burn themselves in the process, but carry on nevertheless, as if nothing ever happened. <h2>Chasing the cloudy profits</h2>The data conclusively proves that every 9 out of 10 individuals only lost their hard-earned money in this land. But hey, what do the numbers know? Some hide their losses out of shame, some out of fear. The proponents, meanwhile, proudly boast unusually high returns on their investments, some open social media channels while others encourage their friends and family to take the plunge. Naturally, news of this unstoppable and humongous en-masse migration to the F&amp;O (futures and options) town has reached sheriff <keyword id="19901201" type="General" weightage="20" keywordseo="SEBI" source="keywords" meta.keywordsubtype="org" meta.entityname="SEBI" meta.hostid="261" meta.entityid="SEBI">SEBI</keyword>, galvanising them into action. After all, it was time to put a leash on this madness and save the common man. The inhabitants of this town doubled in the last 2 years, from 51 lakh in FY22 to 96 lakh in FY24—99.8% of whom were small and mid-income traders. But profits? Well, that's a different, rather completely absent story. <h2>Que Sera Sera, much?</h2>A recent report by SEBI (Securities and Exchange Board of India) that studied profits and losses made by traders in the equity derivatives segment between FY22-24 exposed the mad mania of futures and options trading in India, especially since the pandemic. Per the report, 91.1% of individual traders, or about 73 lakh traders had only lost money trading in futures and options in FY24. Between FY 22-24, over 1 crore traders, or about 92.8% of individual traders, had lost Rs 2 lakh each. But once bitten, twice shy? Well, not in this case. More than 75% of individuals, who had only made losses trading in F&amp;O in FY22 and FY23, continued to trade vigorously in FY24 as well, without any changes in the bottom line, which remained deep in red and negative. So, then all these traders must be uber-rich, with tons of cash and not much care to spare? Nope. 76% of traders in the F&amp;O space in FY24 had an annual income of less than Rs 5 lakh. 2 years ago, their share stood at 71%. And their choice of poison? Options! In FY24, 60% of traders made losses trading in futures, but a whopping 91.5% burnt their funds trading in options. Mind you, futures are riskier than options. With futures, which require significant capital investment, the buyer and seller both are contractually bound to adhere to the pre-determined strike price of the futures or options contract, irrespective of whether the prevailing prices are higher or lower (and thus, resulting in losses for either the buyer or seller). With options, since this adherence ain't necessary, individuals end up taking debt to take highly leveraged positions while trading here. <h2>Scale of the explosion</h2>Anyone who trades even infrequently will tell you that a demat account is the mitochondria or powerhouse of the trading cell. As of August 2024, India had over 17.1 crore <keyword id="20957284" type="General" weightage="20" keywordseo="demat-accounts" source="keywords">demat accounts</keyword>, which are a prerequisite for trading in the markets. India is the 9th biggest country in the world, in terms of total demat accounts. Did you know that our demat accounts are at par with the entire population of Bangladesh? Talk about scale! Just 4 years ago, in March 2020, this number was a mere 4 crore. Naturally, the total F&amp;O turnover on both <keyword id="20004725" type="General" weightage="20" keywordseo="NSE" source="keywords" meta.keywordsubtype="org" meta.entityname="NSE" meta.hostid="261" meta.entityid="NSE">NSE</keyword> and BSE has hit the roof, and also broken it. As of October 4, 2024, the total futures and options turnover on NSE stood at a massive Rs 4,78,27,27,750.30 crore. Good luck counting the thousands! <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Year </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total Turnover (Both Futures and Options) (In Rs Crore) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2020-21 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">64,36,03,951.51 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2021-22 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,69,52,33,134.47 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2022-23 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3,82,23,26,468.06 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2023-24 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7,99,27,67,152.43 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source : NSE Another metric that underlines the meteoric growth of trading in India is the collection of STT or <keyword id="20930760" type="General" weightage="20" keywordseo="Securities-Transaction-Tax" source="keywords">Securities Transaction Tax</keyword>. As of September 2024, India's STT mop-up had gone past Rs 26,000 crore. Traders have to pay STT whenever they buy or sell any security in the market. So, more trading brings in more STT, and hence, more revenue for the government, so they're not really complaining. After all, this is certainly what they'd call enviable growth. As of August 2023, our STT collection stood at about Rs 21,599 crores. And in FY20-21, India's STT collection had been Rs 16,000 crore. If only our salaries also managed to grow at this rate! <h2>So, what's happening?</h2>Two things. One, it's the big bulls who are raking in all the moolah. And it's the younger lot (those aged under 30) who are propping them up for this. In FY24, 43% of individual traders in the market were less than 30 years of age. In just one year, this number has swelled by 12 percentage points from just 31% of individual traders. But who says ageing is bad? Wrinkles and silver hair seemingly have a propensity of incurring lesser losses in the market. In FY24, only 79% of traders aged above 60 years made losses, as compared to 93% of those aged below 30. Small and mid-income traders, which make up 98% of the total trader base, witnessed average losses per person of Rs 65,000 and Rs 1.5 lakh in FY24 in futures and options, respectively. The winner here? Clearly, the big bulls, who declared an annual income of over Rs 1 crore, ended up with average profits of Rs 96,000 per person this year. <h2>What’s the sheriff up to?</h2>The government has finally swung into action, hiking the STT rate for F&amp;O during this year’s budget. Effective October 1, 2024, the STT on futures stands at 0.02%, up from 0.0125%. For options, it was upped to 0.1% versus 0.0625% previously. Small margins, but huge impact oncoming. Says Puneet Sharma- CEO and Fund Manager at Whitespace Alpha, “SEBI aims to enhance market stability while safeguarding investor interests, reflecting the regulator's intent to balance risk management with market participation”. But this might come with its own share of challenges, too. “Stricter norms around leverage, transparency, and capital adequacy could limit the ability of investors to determine their own risk appetite, thereby stifling innovation in trading strategies. Over-regulation in an environment that thrives on strategic flexibility and creativity could dampen the market’s dynamism, affecting India's competitiveness in the global derivatives landscape”, he observes. SEBI recently came out with a set of guidelines that aim to thwart <keyword id="19972907" type="General" weightage="20" keywordseo="retail-investors" source="keywords">retail investors</keyword>' participation in futures and options and hinder them from taking undue risks. Here's a quick recap of what's to come for the residents of the F&amp;O town Margin Requirements: To battle the high volatility and chaos which is generally seen on expiry days(i.e the last mandated date, post which an option becomes invalid), SEBI will put in place an extreme loss margin (ELM) of 2% for all open short options on the day of expiry. Translation? Traders will need to pony up more cash upfront, leaving them with fewer funds to take on risky bets. It ain't a choice: No more of one expiry every single day! Going ahead, an exchange like BSE or NSE will just be able to offer weekly expiries, that too, only on one benchmark index, as opposed to an entire buffet it currently offers. At present, NSE offers weekly options contracts for its financial index, bank and midcap indices. But say goodbye to this, and hello to derivatives on only 1 index per exchange. Raising the bar: Effective November 30, 2024, the minimum contract value for index derivatives will be upped to Rs 15 lakh, from the present Rs 5-10 lakh. The hope is that by making it ultra-expensive to enter these trades, investors will be dissuaded from taking on risky trades. Pay upfront: Starting February 2025, those trading in options will have to pay the entire options premium upfront, even before their trades are executed. This is because options generally carry very high leverage, and paying a significant sum upfront can force traders to think twice. Invigilation Pro Max: Starting April 1 2025, to make sure that the number of positions for equity index derivatives does not slyly slip over the mandated limit, especially on expiry days when trade volumes are huge, the exchanges will have to take a minimum of 4 position snapshots randomly. The question is, will these injections of sobriety be enough to calm down the steroid-fed bull of the futures and options market in India? Well, only time and market turnover will tell! For more insights into the financial markets and business news, stay tuned to our site and social media handles. And don’t forget to subscribe to Business Insider India’s newsletters for your weekly dose of Simply Put! Disclaimer: The content on this website is for informational purposes only and should not be construed as investment advice. We recommend readers consult certified, qualified and registered advisors for professional and personalised financial advice.

SIMPLY PUT: SEBI is on a mission to take on the wild, wild west of futures and options in India. Here’s why, what, and how

Domestic <keyword id="19910265" type="General" weightage="100" keywordseo="gold-prices" source="keywords">gold prices</keyword> have risen by 10% on a year-to-date basis on the back of the strength in global gold prices, which have surged by 18% year-to-date, driven by robust <keyword id="19894998" type="General" weightage="20" keywordseo="central-bank" source="keywords">central bank</keyword> purchases, heightened geopolitical risks, and growing expectations of a monetary policy pivot from the <keyword id="19901377" type="General" weightage="20" keywordseo="us-federal-reserve" source="keywords">US Federal Reserve</keyword>, according to the <keyword id="20195223" type="General" weightage="20" keywordseo="World-Gold-Council" source="keywords" meta.keywordsubtype="org" meta.entityname="World Gold Council" meta.hostid="153" meta.entityid="World Gold Council">World Gold Council</keyword>. The reduction in <keyword id="20069572" type="General" weightage="20" keywordseo="import-duty" source="keywords">import duty</keyword> has ignited a resurgence in gold demand across <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword>. Reports from the recently concluded India International Jewellery Show indicate a substantial increase in order bookings from retailers, particularly in preparation for the upcoming festive and wedding season. Manufacturers have noted that in some cases, orders have reached levels not seen in several years, underscoring the strong buying interest among <keyword id="21595593" type="General" weightage="20" keywordseo="jewellery-retailers" source="keywords">jewellery retailers</keyword> and consumers alike. The trend of bar and coin buying has also remained robust, with both consumers and jewellers capitalizing on the more attractive prices to stock up for future manufacturing needs. Historical analysis suggests that Indian consumer demand, encompassing jewellery and bar and coin demand, could see an additional 50 tonnes or more in the second half of 2024. This potential increase is fueled by a combination of an initial boost in consumer appetite due to the more attractive prices and a longer-term alignment of local prices with international rates. In a notable shift, domestic gold prices, which had been trading at a discount to international prices for five consecutive months, have now started trading at a premium following the <keyword id="19908389" type="General" weightage="20" keywordseo="Union-Budget" source="keywords">Union Budget</keyword> announcement. The discount had widened significantly in July, reaching a peak of around $80 per ounce in the third week of the month, driven by subdued demand and an increased supply of gold through various preferential trade agreements and unofficial channels. However, wholesalers who had inventory purchased under the old customs duty regime began selling gold at a premium to the landed cost to mitigate their losses, further supported by increased consumer demand. While the premiums have moderated recently, from $28 per ounce to around USD 5 per ounce, this shift highlights the changing market sentiment and the impact of rising international gold prices and potential inventory valuation adjustments. The changes introduced in the Union Budget, including a reduction in the long-term investment holding period and a lower tax rate, have made gold ETFs a more attractive investment option. Data from the Association of Mutual Funds in India (AMFI) reveals that net inflows into gold ETFs in July amounted to Rs 13.4 billion (approximately USD 160 million), marking the highest monthly inflows since February 2020 and an 84% increase compared to June 2024. Despite these inflows, the total assets under management (AUM) for Indian gold ETFs grew marginally by 0.3% from the previous month, reaching Rs 345 billion ($4.1 billion). This modest increase can be attributed to the 8 % fall in domestic gold prices following the import duty reduction. Year-to-date, net inflows into Indian gold ETFs have totalled Rs 45 billion ($543 million), with total AUMs rising by 48 % from a year ago. The <keyword id="19899810" type="General" weightage="20" keywordseo="Reserve-Bank-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Reserve Bank of India" meta.hostid="153" meta.entityid="Reserve Bank of India">Reserve Bank of India</keyword> (RBI) has continued its gold purchasing trend, although at a slower pace following a significant increase in June, when purchases reached 9.3 tonnes--the highest monthly total in nearly two years. Year-to-date, the RBI's gold acquisitions have totaled 44.3 tonnes, surpassing the total purchases of the past two years combined. The RBI's gold reserves have now reached a record 849 tonnes, representing 8.8% of total foreign reserves, compared to 7.5 % a year ago. In July, gold imports remained steady at $3.1 billion, maintaining the stable trend observed over the previous three months. Between April and July, imports averaged $3.2 billion, with volumes ranging between 43 and 47 tonnes during this period. The gold import bill for July 2024 was 11 % lower than the previous year, with an estimated 26% decrease in volume terms, around 47 tonnes. Despite a surge in international gold prices, domestic gold prices in India have experienced a notable decline, primarily due to the 9 % reduction in import duty announced in the Union Budget 2024-25. This policy change has led to a 6% decrease in the landed cost of gold, marking a shift in the domestic gold market dynamics.

Domestic gold prices surge 10% amid global price rally, central bank buying: World Gold Council

After reporting <keyword id="21767878" type="General" weightage="20" keywordseo="record-profits" source="keywords">record profits</keyword>, state-owned <keyword id="20459282" type="General" weightage="100" keywordseo="fuel-retailers" source="keywords">fuel retailers</keyword> <keyword id="19908045" type="General" weightage="20" keywordseo="Indian-Oil-Corporation" source="keywords" meta.keywordsubtype="org" meta.entityname="Indian Oil Corporation" meta.hostid="153" meta.entityid="Indian Oil Corporation">Indian Oil Corporation</keyword> (<keyword id="6354733" type="General" weightage="20" keywordseo="IOC" source="Orion">IOC</keyword>), <keyword id="19908646" type="General" weightage="20" keywordseo="BPCL" source="keywords" meta.keywordsubtype="org" meta.entityname="BPCL" meta.hostid="153" meta.entityid="BPCL">BPCL</keyword> and <keyword id="20052221" type="General" weightage="20" keywordseo="HPCL" source="keywords" meta.keywordsubtype="org" meta.entityname="HPCL" meta.hostid="153" meta.entityid="HPCL">HPCL</keyword> posted up to 90 per cent slump in their June quarter earnings as margins fell and they booked under-recovery on the sale of domestic cooking gas LPG at government-controlled rates. IOC, the nation's largest oil firm, reported 81 per cent drop in standalone net profit in April-June - the first quarter of current 2024-25 fiscal year - to Rs 2,643.18 crore as opposed to a profit of Rs 13,750.44 crore a year back, according to a company filing. Net profit also declined sequentially, when compared to an earning of Rs 11,570.82 crore in March quarter. Hindustan Petroleum Corporation Ltd (HPCL) posted 90 per cent drop in profit to Rs 633.94 crore as compared to an earning of Rs 6,765.50 crore in April-June 2023 and Rs 2,709.31 crore in the preceding March quarter. Bharat Petroleum Corporation Ltd (BPCL) net profit dropped to Rs 2,841.55 crore in April-June from Rs 10,644.30 crore a year back and Rs 4,789.57 crore in January-March, its filing showed. The three fuel retailers made extraordinary gains from holding petrol and diesel prices despite a drop in cost. The price freeze was justified in the name of recovering losses they had suffered in the previous year when they did not raise retail prices despite a surge in cost. The gains arising from the price freeze were eroded with petrol and diesel prices being cut by Rs 2 per litre each just before general elections and a fall in refining margins. Also, the three had uncompensated <keyword id="20866844" type="General" weightage="20" keywordseo="LPG-subsidy" source="keywords">LPG subsidy</keyword> - IOC booking under-recovery of Rs 5,156.23 crore in April-June, BPCL Rs 2,015.10 crore and HPCL Rs 2,443.71 crore, according to the filings. As per an order of the oil ministry, when market determined price (MDP) of LPG cylinders is less than its effective cost to customer (ECC), oil marketing companies (OMCs) have to retain the difference in a separate buffer account for future adjustment. However, as on June 30, 2024, the three firms had a net negative buffer as the retail selling price was less than MDP. The three retailers IOC, BPCL and HPCL had reported record profits totalling about Rs 81,000 crore in FY24 (2023-24), which was far more than their annual earnings of Rs 39,356 crore in pre-oil crisis years. This is because they resisted calls to revert to daily price revision and pass on softening in rates to consumers on grounds that prices continue to be extremely volatile - rising on one day and falling on the other - and that they needed to recoup losses incurred in the year, when they kept rates lower than cost. IOC in 2023-24 posted a standalone net profit of Rs 39,618.84 crore compared to Rs 8,241.82 crore in 2022-23. While the company could argue that FY23 was impacted by the <keyword id="21626914" type="General" weightage="20" keywordseo="oil-crisis" source="keywords">oil crisis</keyword>, the FY24 earnings are higher than even the pre-crisis years - Rs 24,184 crore net profit in 2021-22 and Rs 21,836 crore in 2020-21. BPCL posted a net profit of Rs 26,673.50 crore in FY24, higher than Rs 1,870.10 crore earnings in 2022-23 and Rs 8,788.73 crore in FY22. HPCL's 2023-24 profit of Rs 14,693.83 crore is compared with a Rs 8,974.03 crore loss in FY23 and a profit of Rs 6,382.63 crore in 2021-22, according to the filings. The losses in FY23 had led to the finance minister announcing Rs 30,000 crore equity infusion in the three firms. Mid-way through the year, that support was halved to Rs 15,000 crore. The support was to happen by way of equity infusion via a rights issue. But after the record profits of 2023-24, the equity infusion plan has now been scrapped. Finance Minister Nirmala Sitharaman had on February 1 last year, while presenting the annual Budget for the 2023-24 fiscal (April 2023 to March 2024), announced an equity infusion of Rs 30,000 crore in IOC, BPCL and HPCL to support the three state-owned firm's energy transition plans. In the interim budget that the finance minister presented in February this year ahead of the general elections, the capital support to the three oil companies was halved to Rs 15,000 crore. In the full budget for 2024-25, both plans have been scrapped. While other state-owned oil companies like Oil and Natural Gas Corporation (ONGC) and GAIL (India) Ltd too have lined up billions of dollars of investment to achieve net-zero carbon emissions, the equity support was limited to the three fuel retailers, which had suffered huge losses in 2022 when they held retail petrol, diesel and cooking gas (LPG) prices despite a spike in raw material (crude oil) prices, following Russia's invasion of Ukraine. The board of IOC and BPCL had last year approved rights issues to raise to Rs 22,000 crore and Rs 18,000 crore, respectively. The government was to participate in the rights issue. The three companies, which control roughly 90 per cent of India's fuel market, 'voluntarily' have not changed petrol, diesel and cooking gas (LPG) prices, resulting in losses when input costs were higher and profits when raw material prices were lower. They posted a combined net loss of Rs 21,201.18 crore during April-September 2022 despite accounting for Rs 22,000 crore announced but not paid LPG subsidy for the previous two years. Subsequent softening of international prices and government giving out LPG subsidies helped IOC and BPCL post annualised profit for 2022-23, but HPCL was in the red. In FY24, things changed dramatically, and the three firms posted record earnings.

After record profits, state-owned fuel retailers Indian Oil, BPCL and HPCL see profit slump in Q1

<keyword id="19910265" type="General" weightage="100" keywordseo="gold-prices" source="keywords">Gold prices</keyword> have corrected sharply by 7% or Rs 5,000 per 10 grams in the local markets after the government slashed the basic customs duty on gold. Lower costs will encourage more people to invest in the yellow metal, both as a commodity and as a financial asset, experts say. Analysts said customs duty cut has made gold imports cheaper. The move will help curb the rampant issue of gold smuggling, leading to growth in the organised <keyword id="22107284" type="General" weightage="20" keywordseo="jewellery-sector" source="keywords">jewellery sector</keyword>. "The cut in basic <keyword id="20330317" type="General" weightage="20" keywordseo="custom-duty" source="keywords">custom duty</keyword> on gold prices makes the yellow metal cheaper. While this can lead to weaker market sentiments due to the sudden change, <keyword id="19972907" type="General" weightage="20" keywordseo="retail-investors" source="keywords">retail investors</keyword> stand to benefit from the new, more attractive pricing for gold," said Jateen Trivedi, VP Research Analyst of Commodity and Currency at LKP Securities Echoing similar sentiments, Krishnan R, Director &amp; CEO of Unimoni Financial Services said lower costs will encourage more people to invest in gold, both as a commodity and as a financial asset, which is often seen as a hedge against inflation and currency devaluation. Following the <keyword id="19936553" type="General" weightage="20" keywordseo="budget" source="keywords">budget</keyword> announcement by finance minister Nirmala Sitharaman that the government has slashed basic customs duties on gold and silver from 15 per cent to 6 per cent, gold prices crashed by Rs 3,350 to Rs 72,300 per 10 grams in the national capital on Tuesday. The precious metal prices continued the downtrend and plunged by Rs 650 on Wednesday. The yellow metal rates saw another steep fall on Thursday, nosediving by Rs 1,000 to settle at Rs 70,650 per 10 grams, as per the All India Sarafa Association. After the duty cut, the yellow metal has declined Rs 5,000 per 10 grams or 7.1% in the past three sessions, since July 23 when it had fallen Rs 3,350 to end at Rs 72,300 per kg. Also, gold of 99.5% purity declined by Rs 1,000 to Rs 70,300 per 10 grams on Thursday. It had also lost ground by Rs 5,000 per 10 grams in the previous three sessions. On Thursday, silver rates also lost ground by Rs 3,500 per kg to Rs 84,000 per kg. In the past three sessions, the rates of the bright metal fell sharply by Rs 7,000 or 8.3% to Rs 84,000 per kg from Rs 91,000 per kg. Traders also said that a sharp correction in gold prices have revived the demand for jewellery among consumers as they flocked to jewellery outlets to take advantage of lower prices. "The reduction in basic custom duties have spurted the demand for jewellery in the domestic markets. Further, this will act as a sales booster for jewellers before the festive seasons, encouraging fresh buying by the consumers due to lower prices," PC Jeweller's Managing Director Balram Garg. Low gold prices will help domestic jewellers, particularly the organised ones, Garg said. According to MP Ahammed, Chairman, Malabar Group, the reduction has been a long-standing demand of traders in the gold sector, as it is expected to curb the rampant issue of gold smuggling, which poses a substantial threat to the Indian economy. "With the new rates, the duty on one kilogram of gold drops from Rs 9.82 lakh to Rs 3.93 lakh, making smuggling less attractive and more manageable. "This move will help dismantle the mafia chain involved in smuggling, leading to growth in the organised jewellery sector and increasing government revenue through GST and income tax," Ahammed said. Meanwhile, in futures trade on the <keyword id="20316358" type="General" weightage="20" keywordseo="multi-commodity-exchange" source="keywords">Multi Commodity Exchange</keyword> (MCX), gold futures have partially recovered on Friday, after three days of slump. The most traded August contract jumped Rs 288 to Rs 67,750 per 10 grams on the MCX. It had settled at Rs 67,462 per 10 grams in the previous session on Thursday. However, silver contracts for September delivery continued its downward trend by declining Rs 241 to Rs 81,090 per kg. It had closed at Rs 81,331 per kg in the previous session on Thursday. Experts anticipate stability in bullion prices once there is clarity on several economic and political factors such as interest rate cut by the <keyword id="19901377" type="General" weightage="20" keywordseo="us-federal-reserve" source="keywords">US Federal Reserve</keyword>. "Stability in gold prices is expected once there is clarity on several economic and political factors including, potential interest rate cuts in the US and India, and the outcome of the US Presidential elections will provide a clear direction for gold prices," Trivedi said.

Gold prices drop by Rs 5,000/10gm post Budget; bring cheers to retail investors

<ul class="summary-list"><li>Stocks rose Thursday as investors digested strong retail sales data and more earnings.</li><li>Retail sales data showed US consumer spending remains robust, with monthly spending up 0.4%.</li></ul>US stocks climbed on Thursday as traders saw better-than-expected retail sales data and continued to digest strong corporate earnings reports.The Dow Jones Industrial Average added to record levels achieved at Wednesday's close. Bond yields rose, with the 10-year Treasury up six basis points to 4.075%. September's retail sales report showed consumer spending remains strong, with monthly spending up 0.4% from August, just above a Dow Jones consensus estimate of 0.3%.Retail sales climbed 1.7% compared to a year ago, according to Commerce Department data released Thursday.The strong spending data comes on the heels of a <a target="_blank" class="" href="https://www.businessinsider.com/september-jobs-report-unemployment-rate-nonfarm-payroll-growth-federal-reserve-2024-10">blockbuster September jobs report</a>, and further solidifies assessments that the US economy is strong and that the Federal Reserve may not need to cut rates as steeply or quickly as previously thought. Weekly jobless claims were lower than expected at 241,000, a 19,000 decline from the week before, according to Labor Department data released Thursday. Economists had forecast 260,000 weekly claims. Here's where US indexes stood shortly after the 9:30 a.m. opening bell on Thursday:<ul><li><a target="_blank" href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a>: 5,873.45, up 0.53% </li><li><a target="_blank" href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Dow Jones Industrial Average</a>: 43,279.21, up 0.47% (+201.51 points)</li><li><a target="_blank" href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Nasdaq composite</a>: 18,523.24, up 0.85% </li></ul>Meanwhile, a <a target="_blank" class="" href="https://www.businessinsider.com/tsmc-stock-price-q3-earnings-chip-stocks-asml-nvidia-amd-2024-10">highly anticipated report</a> from chipmaker Taiwan Semiconductor Manufacturing Company came in strong, showing net income surpassed estimates while net revenue for the quarter rose 36% compared to the same last year."We have talked to our customers all the time, including our hyperscaler customers who are building their own chips. And almost every AI innovator is working with TSMC," TSMC chairman and CEO C.C. Wei said.Shares of TSMC rose 7% after the opening bell, pulling other chip stocks higher. Nvidia was up almost 2%, and AMD was up over 1%.TSMC's optimism about demand for AI tech follows a <a target="_blank" href="https://markets.businessinsider.com/news/stocks/chipmakers-tumble-asml-guidance-semiconductor-nvidia-chip-growth-2024-10?_gl=1*1isprkj*_ga*MTY3OTgyNjg0MS4xNzIxMDE2MDM2*_ga_E21CV80ZCZ*MTcyOTE2NTYwMS4yODIuMS4xNzI5MTY3OTk1LjM0LjAuMA..">chip sector sell-off</a> earlier this week when chip machine maker ASML slashed its sales guidance on weaker demand from chipmakers.TSMC joins a string of strong earnings reports this week. Morgan Stanley and United Airlines posted strong results on Wednesday. Netflix will report third-quarter results after the close on Thursday. Here's what else is going on Thursday:<ul><li>A number of bank research desks are <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-sp500-targets-bull-market-goldman-ubs-bmo-2024-10?_gl=1*njfdt3*_ga*MTY3OTgyNjg0MS4xNzIxMDE2MDM2*_ga_E21CV80ZCZ*MTcyOTE2NTYwMS4yODIuMS4xNzI5MTY2MzczLjYwLjAuMA..">boosting their S&amp;P 500 price targets</a> in recent weeks as the bull market charges on.</li><li>China could raise nearly <a target="_blank" class="" href="https://www.businessinsider.com/china-economy-beijing-stimulus-1-trillion-debt-package-fiscal-deficit-2024-10">$1 trillion of fresh debt</a> in the next 3 years to revive its economy, according to a report from Caixin Global.</li><li>The US freight recession is showing <a target="_blank" class="" href="https://www.businessinsider.com/author/filip-de-mott">early signs of recovery</a> as trucking company JB Hunt posted a rare earnings beat on Tuesday.</li></ul>In commodities, bonds, and crypto:<ul><li>Oil futures fell. <a target="_blank" class="" href="https://markets.businessinsider.com/commodities/oil-price?type=wti">West Texas Intermediate crude</a> dipped 0.2% to $70.22 a barrel. <a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price?utm_medium=ingest&amp;utm_source=markets">Brent crude</a>, the international benchmark, fell 0.3% to $74.01 a barrel.</li><li><a target="_blank" href="https://markets.businessinsider.com/commodities/gold-price?utm_medium=ingest&amp;utm_source=markets">Gold</a> rose 0.33% to $2,700.4 an ounce.</li><li>The 10-year Treasury yield was up six basis points to 4.075%.</li><li><a target="_blank" class="" href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> dipped 1.5% to $66,761.</li></ul>

Stock market today: Indexes gain after strong retail sales data

<ul><li>Samsung had launched the Galaxy Ring wearable in India.</li><li>The device was announced in July 2024, alongside the Galaxy Z Fold 6 and Galaxy Z Flip 6.</li><li>The Galaxy Ring has been priced at ₹38,999 and is available in three colour options.</li></ul> Korean smartphone maker Samsung announced the Galaxy Ring, the company’s first <keyword id="20596744" type="General" weightage="20" keywordseo="smart-ring" source="keywords">smart ring</keyword> globally alongside the<a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-z-fold-6-galaxy-z-flip-6-galaxy-ring-and-more-launched/articleshow/111637913.cms"> Galaxy Z Fold 6 and Galaxy Z Flip 6</a> smartphone in July 2024 and has finally launched the device in India. The smart ring market is all set to heat up, with the launch of the Galaxy Ring in India. So far, companies like Ultrahuman, boAt, Noise and more have been the only ones offering a smart ring in the Indian market. “The launch of Galaxy Ring marks a massive leap in Samsung’s commitment to democratizing cutting-edge technology for everyone, helping users turn data into meaningful insights and create a whole new era of expanded intelligent health experiences,” said Aditya Babbar, Vice President, MX Business, <keyword id="20046687" type="General" weightage="20" keywordseo="Samsung-India" source="keywords">Samsung India</keyword>. <h2><keyword id="20244256" type="General" weightage="20" keywordseo="samsung-Galaxy-Ring-price-in-india" source="Orion">Samsung Galaxy Ring price in India</keyword></h2>The <keyword id="20478811" type="General" weightage="20" keywordseo="Samsung-Galaxy-Ring" source="keywords">Samsung Galaxy Ring</keyword> has been priced at ₹38,999 in India. It is available in nine sizes, ranging from a size 5 to size 13. The Galaxy Ring comes in three colour options, Titanium Black, Titanium Silver and Titanium Gold. <div type="Article" hostid="261" msid="114120828" title="The Ola Electric Saga: Are surge in complaints and declining market share a wake-up call for Bhavish Aggarwal?" mstype="2" mssubtype="0"></div> The Galaxy Ring will be available from Samsung Online Store, Amazon India, Flipkart and the company’s authorised retail stores across the country. <h2>Samsung Galaxy Ring features</h2>The Galaxy Ring, the company’s latest wearable comes with a titanium finish and offers enhanced durability. It is IP68 water- and dust-resistant and can withstand depths of up to 100 meters with its 10ATM rating. Like most things launched recently, the Galaxy Ring is equipped with AI-powered features. It comes with Samsung’s Health AI, which offers real-time insights to users with personalised recommendations and wellness tips. The Galaxy Ring essentially uses three sensors – an optical bio-signal sensor to monitor your heart rate, an accelerometer and a skin temperature sensor. “With advanced AI-driven insights, 24/7 health monitoring and a sleek, lightweight design, it empowers users to seamlessly track their wellness anytime, anywhere. With Galaxy Ring, we’re paving the way for a healthier, more connected future for all,” Babbar added. The Galaxy Ring weighs 2.3 grams for size 5 and goes up to 3 grams for size 13. <div type="image" title="024-galaxy-ring-titaniumsilver-charging-case-open-combination" msid="114275878" hostid="261" sizebytes="22068" caption="&amp;lt;p&amp;gt;The Galaxy Ring with its charging case&amp;lt;/p&amp;gt;"></div> It comes with a clamshell charging case with LED lighting to indicate the charging status. The Galaxy Ring offers up to 7 days of battery life on a single charge. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/apple-ipad-mini-with-a17-pro-chip-launched-starting-at-49900/articleshow/114259209.cms">Apple iPad mini with A17 Pro chip launched starting at ₹49,900</a> <a href="https://www.businessinsider.in/stock-market/webstories/hyundai-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/114235421.cms">Hyundai IPO – Price band to risk factors, all you need to know</a> <a href="https://www.businessinsider.in/tech/mobile/news/pixel-9-pro-to-go-on-sale-in-india-from-october-17-price-specs-and-everything-you-need-to-know/articleshow/114210864.cms">Pixel 9 Pro to go on sale in India from October 17 – price, specs and everything you need to know</a>

Samsung Galaxy Ring is now available in India at ₹38,999

Mumbai: The rupee slipped 1 paisa to an all-time low of 84.40 against the US dollar in early trade on Wednesday, as persistent <keyword id="20520117" type="General" weightage="20" keywordseo="foreign-fund-outflows" source="keywords">foreign fund outflows</keyword> and a muted trend in domestic equities weighed on the local unit. Forex traders said the USDINR pair has shown significant volatility in recent sessions, with the rupee inching closer to its all-time low of 84.40. This downward pressure is largely driven by global factors, particularly the Dollar Index's strengthening. At the interbank foreign exchange, the rupee opened at 84.40 against the greenback, registering a fall of 1 paisa over its previous close. On Tuesday, the rupee fell 1 paisa to a new lifetime low of 84.39 against the US dollar. "It appears that the rupee has established support around the current levels, with depreciation limited near 84.50," CR Forex Advisors MD Amit Pabari said. Pabari further added that the RBI stands tall as the depreciation in the rupee seems to be limited as the <keyword id="19899810" type="General" weightage="100" keywordseo="Reserve-Bank-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Reserve Bank of India" meta.hostid="261" meta.entityid="Reserve Bank of India">Reserve Bank of India</keyword> (RBI) continues to sell the dollars to protect the sharp depreciation. "For the 5th consecutive week, India's forex reserves declined, possibly due to RBI selling the dollars. Currently, the forex reserves of India stand at USD 682 billion down from the recent all-time high of USD 704 billion," he said. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading lower by 0.04 per cent at 105.98. Brent crude, the global oil benchmark, rose 0.25 per cent to USD 72.07 per barrel in futures trade. On the domestic equity market front, Sensex was trading 210.66 points, or 0.27 per cent lower, to 78,464.52 points. The Nifty fell 100.45 points, or 0.42 per cent, to 23,783.00 points. Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Tuesday, as they offloaded shares worth Rs 3,024.31 crore, according to exchange data. On the macroeconomic front, retail inflation breached the Reserve Bank's upper tolerance level, soaring to a 14-month high of 6.21 per cent in October mainly on account of rising food prices. Inflation based on the consumer price index (CPI) was 5.49 per cent in September and 4.87 per cent in the year-ago month. India's industrial production expanded by 3.1 per cent in September after recording a contraction in the preceding month, as all three major segments -- mining, manufacturing, and power generation -- showed improvement. However, the growth in the Index of Industrial Production (IIP) during the month was lower than 6.4 per cent registered in September 2023.

Rupee falls 1 paisa to all-time low of 84.40 against US dollar in early trade

<ul class="summary-list"><li>When deciding where to shop, consumers face trade-offs between convenience, quality, and price.</li><li><a target="_blank" href="https://www.businessinsider.com/history-of-sams-club-walmart-owned-warehouse-2023-5">Sam's Club</a> CEO Chris Nicholas tells BI he wants shoppers to have all three.</li></ul>At the back of Sam's Club's new tech-infused location in Grapevine, Texas, an unassuming floor-scrubber robot sits in a maintenance closet near the loading docks.Each day, the autonomous unit glides through the aisles cleaning up spills and crumbs while its <a target="_blank" href="https://www.businessinsider.com/sams-club-worker-ai-replaced-tiresome-daily-task-2024-6">cameras and sensors check inventory levels</a> and update the company's computers with the latest numbers.Using that blizzard of data, emerging technologies, and what CEO Chris Nicholas calls "design thinking," Sam's Club is challenging some commonly held assumptions about the warehouse club business."This, here, represents what the future looks like for Sam's Club," Nicholas told Business Insider in an interview Thursday, standing in what would normally be the checkout lanes of a traditional store.<div type="image" title="Sam's Club CEO Chris Nicholas at the company's new store in Grapevine, Texas" height="2251" width="3000" msid="114428150" hostid="261" sizebytes="235426"></div>The newly opened Grapevine store is the <a target="_blank" href="https://www.businessinsider.com/sams-club-opens-first-new-location-in-years-2024-10">first to eschew conveyer belts and cash registers</a> in favor of mobile apps and AI-powered computer vision.Shoppers passed through three <a target="_blank" href="https://www.businessinsider.com/sams-club-will-scan-cart-instead-of-checking-receipt-2024-1">towering blue gateways</a> on their way out to the parking lot, pushing carts full of items they'd scanned and paid for on the app.Thanks to data from sources like the floor scrubber, shoppers can find what they're looking for in the warehouse, scan the barcode, and pay through the app. And they can complete the entire process without waiting in line for a cash register — or a <a target="_blank" href="https://www.businessinsider.com/why-walmart-costco-check-receipts-2023-6">receipt check</a> at the door.Those who needed additional assistance were met by tablet-wielding associates who could ring up orders and process payments on the spot.<div type="image" title="A Sam's Club employee stands ready to process shoppers' orders on a mobile tablet." height="2251" width="3000" msid="114428151" hostid="261" sizebytes="353236"></div>While many of the systems have been in development at Sam's Club since before Nicholas became CEO, it's now up to him to ensure they all perform harmoniously.Nicholas said the club model's success historically has been a function of high-quality products sold at bargain prices."The price you pay for great items and great prices is friction," he said. "You queue to get in the door, you queue at the register, you queue to get out. You don't have e-commerce, or if you have e-commerce, you pay a premium."Consumers deciding where to shop long faced trade-offs between convenience, quality, and price.Sol Price — the godfather of the club store, progenitor of Costco, and acknowledged inspiration for Sam Walton to launch Sam's Club — was able to <a target="_blank" href="https://www.businessinsider.com/founding-history-of-costco">crack the code on quality and price</a> at the sacrifice of convenience. Other retail concepts have achieved convenience and price at the expense of quality. Still others offer convenience and quality for premium prices.In short, US shoppers often face a "pick two" scenario, but Nicholas said it doesn't have to be that way. With the help of the modern technology found in the newly opened location, he believes shoppers can enjoy all three."The total club channel is doing OK — it's growing faster than retail — but it hasn't been where innovation has lived," he said.One advantage Sam's Club has over most of its rivals is its massive parent company: Walmart, the world's largest retailer."The beauty of being owned by Walmart for us is we get to leverage a big supply chain that's automated, we get to leverage technology, which is front-end and back-end, and we don't have to pay for it," Nicholas said.<div type="image" title="Sam's Club shoppers visit the newly opened location in Grapevine, Texas." height="2250" width="3000" msid="114428156" hostid="261" sizebytes="863370"></div>"We don't have these massive investments that we have to make. We have capacity ready," he added. "We can innovate at the pace of inspiration, versus innovating at the pace of a capital budget."The Grapevine Sam's Club is literally bristling with tech, not just in the form of the hulking blue AI-powered gateways. There's a pizza robot in the café that can knock out 100 pies per hour, RFID sensors on every aisle, computer vision pallet scanners on the loading docks, and a fleet of battery-powered coolers that will extend the club's delivery range for perishables.It's Sam's Club's first new store in seven years and a model for the roughly 30 new locations and an unspecified number of remodels <a target="_blank" class="" href="https://www.businessinsider.com/walmart-sams-club-plans-open-30-new-warehouses-us-2023-1">planned for the next five years</a>.Walmart, for its part, has a clear incentive to experiment with new technology at Sam's Club. After growing sales by nearly 50% over the past five years, Sam's Club's $86 billion in revenue is still less than half of what Costco's North American business makes. There's plenty of ground to gain.Several shoppers told BI they've been using the new tech at other Dallas-area stores and that it generally <a target="_blank" href="https://www.businessinsider.com/sams-club-ai-receipt-checks-exit-success-2024-4">worked as expected</a>, apart from a few hiccups due to the larger-than-usual crowd at the grand opening. Many of the shoppers had Costco memberships too. One shopper told BI he planned to cancel his.Sam's Club has also been a test-bed for retail concepts that eventually find their way into Walmart's 4,600 US stores and beyond. Walmart Plus members can use a similar mobile app scan-and-go feature, and the businesses continue to combine resources — recently <a target="_blank" href="https://www.businessinsider.com/walmart-sams-club-corporate-supply-chain-teams-merge-memo-2024-9">merging their supply chain management teams</a>, BI first reported.<div type="image" title="Sam's Club shoppers visit the newly opened location in Grapevine, Texas." height="2250" width="3000" msid="114428155" hostid="261" sizebytes="553648"></div>Former Sam's Club CEO John Furner is now CEO of Walmart US, and Nicholas was <a target="_blank" href="https://www.supermarketnews.com/executive-moves/walmart-promotes-chris-nicholas-to-new-role-of-u-s-coo">instrumental</a> in planning the modernization of Walmart's store fleet during his earlier stint as chief operating officer for Walmart US.During the interview, <a target="_blank" class="" href="https://www.businessinsider.com/walmart-ceo-doug-mcmillon-bio-career-life-salary-first-job-2021-6">Walmart CEO Doug McMillon</a> strolled over to say hello as he wrapped up his <a target="_blank" href="https://www.linkedin.com/feed/update/urn:li:activity:7253079909311356928/">tour</a> of the store. He, too, previously served as Sam's Club CEO.Many of the same design principles in Grapevine can be observed at <a target="_blank" class="" href="https://www.businessinsider.com/visiting-walmart-recently-renovated-supercenters-in-wisconsin-2023-11">Walmart's recently remodeled stores</a>, such as low-friction checkout options, larger dedicated space for e-commerce fulfillment, and tightly interconnected use of mobile app shopping through scannable codes and showcase displays.Nicholas said he wants to transform shopping at Sam's Club into a "delightful" experience, whether that means using AI to interpret the jumbled contents of a shopping cart or redesigning the pockets on the Member's Mark jogger sweatpants to be an inch deeper after feedback so keys and phones are less likely to fall out when sitting."My hope is that Sam's Club, when you shop, feels like what it's like to shop in the future. That's what I hope, and so that's my job," he said. "This is a glimpse of that."

Sam's Club CEO wants you to feel like you're shopping in the future

<ul class="summary-list"><li>America's post-pandemic shopping boom appears to be winding down.</li><li>Consumers are feeling the pain of accumulated price increases and are pickier with what they splurge on.</li></ul>America's wild, <a target="_blank" class="" href="https://www.businessinsider.com/hate-spending-consumers-economic-sentiment-retail-sales-inflation-gdp-growth-2024-4">multi-year shopping spree</a> has come to an end — and retailers who got used to Americans dropping cash on just about everything are in a tough spot.Companies are now grappling with the emergence of a more <a target="_blank" class="" href="https://www.businessinsider.com/consumer-spending-decline-how-retailers-respond-inflation-prices-walmart-costco-2024-6#:~:text=US%20consumer%20spending%20%E2%80%94%20especially%20on,%2C%20restaurants%2C%20and%20other%20experiences.">price-conscious consumer</a> than they have seen in years. Many people have drawn down their excess savings from the pandemic and are becoming painfully aware of the accumulated price increases, even as inflation has come down from multi-decade highs seen in the middle of 2022.According to a survey conducted by McKinsey &amp; Company, 76% of US consumers said they expected to "<a target="_blank" class="" href="https://www.mckinsey.com/industries/consumer-packaged-goods/our-insights/the-state-of-the-us-consumer">trade down</a>" over the third quarter, which includes things like delaying purchases, searching for discounts, or opting for a buy now, pay later plan at checkout.It's not that Americans have stopped spending. US retail sales came in stronger than expected in July, with Americans spending more overall compared to the prior month, according to <a target="_blank" class="" href="https://www.census.gov/retail/sales.html">Census</a> data.But consumers are flashing signs that they're way more eager to bargain hunt, and more picky on what they splurge on, according to Ted Rossman, a senior industry analyst at Bankrate.Americans are still willing to <a target="_blank" href="https://www.businessinsider.com/us-consumer-spending-international-travel-entertainment-surge-savings-2024-3">shell out for experiences</a>, Rossman said, pointing to success among airlines and travel-oriented firms. However, they seem to have tired out on goods. Around 40% of consumers said they planned to pare back spending on accessories, home decor, jewelry, and furniture, per McKinsey's survey."It's like, people are going to spend, but they're only going to spend when they feel like there's really value there," Rossman told Business Insider.Customers have likely refined their spending habits, with more Americans now searching for high-quality products at a good value, according to Simeon Siegel, a senior retail and ecommerce analyst at BMO. That's why firms at the low-end — like <a target="_blank" class="" href="https://www.businessinsider.com/mcdonalds-expensive-prices-too-high-fast-food-restaurant-falling-sales-2024-7">McDonald's</a> — as well as on the high-end — like <a target="_blank" class="" href="https://www.businessinsider.com/starbucks-lvmh-loreal-declining-sales-china-earnings-consumer-luxury-retail-2024-7">LVMH</a> — are struggling, he said. For many retailers that saw an across-the-board boom in profits amid post-pandemic revenge shopping, it's the end of an era, and companies are scrambling to figure out how to navigate the new world.<a target="_blank" class="" href="https://www.challengergray.com/blog/cnbc-retail-ceo-turnover-soars-and-fewer-women-hold-top-jobs-in-the-industry/">CEO turnover</a> in the retail industry more than doubled last year, with the sector notching the highest number of CEO change-ups in four years, according to Challenger, Gray &amp; Christmas.Most firms are also on high-alert for how consumers are reacting to higher prices. 86% of consumer staples firms in the S&amp;P 500 mentioned "<a target="_blank" class="" href="https://insight.factset.com/fewer-sp-500-companies-discussing-inflation-on-earnings-calls-for-7th-straight-quarter">inflation</a>" in their first quarter earnings call, according to data from FactSet.Some retailers, like Walmart and Target, have turned to <a target="_blank" class="" href="https://www.businessinsider.com/stores-cutting-prices-summer-list-walmart-target-amazon-aldi-walgreens-2024-6">aggressively slashing prices</a> — a sign that stores are getting more desperate in their efforts to get shoppers in the door, Siegel said."When the consumer had a wallet full of cash handed to them, they didn't have to be as thoughtful. They didn't have to hold back. And so everyone benefited. We're now back in an environment where good retailers, strong brands that offer compelling value … will benefit," Siegel said.<h2 id="2d50d303-346d-40f3-83e6-620eeca3d56c">Picky shoppers</h2>It's a stark turnaround from several years ago, when Americans under stay-at-home orders and flush with stimulus cash were buying just about everything.But those consumers have largely spent down their pile of extra cash, with household excess savings likely having been <a target="_blank" class="" href="https://www.frbsf.org/research-and-insights/blog/sf-fed-blog/2024/05/03/pandemic-savings-are-gone-whats-next-for-us-consumers/#:~:text=We%20estimate%20that%20excess%20savings,over%20the%20subsequent%202%C2%BD%20years.">depleted by the first quarter of 2024</a>, according to a projection from the San Francisco Fed.And consumers — especially those in the lower- to middle-income bracket — are showing signs that they're having trouble dealing with the higher cost of living. Less than half of middle-class Americans rated their personal finances as "excellent" or "good," and two-thirds of middle-class Americans said they believed their income was falling behind the cost of living, according to a second-quarter survey conducted by <a target="_blank" class="" href="https://www.primerica.com/public/Fact_Sheet_Primerica_Financial_Security_Monitor_Q2_2024.pdf">Primerica</a>.Inflation has cooled from its highs several years ago, but the increased selectiveness among consumers will likely continue for the foreseeable future, Rossman and Siegel predicted, due to the fact that it takes time for people's perception of the economy to change."You could correctly say, oh, inflation's come way down, but people's rents are up, people's grocery bills are up," Rossman said. "It's going to take a while to unwind some of that."In the meantime, that could mean more pain for retailers, Siegel said, speculating that many were caught by surprise by the shift in consumer sentiment.Investors are already feeling uneasy. Retail stocks are struggling, with SPDR S&amp;P retail exchange-traded fund falling more than 5% over the past six months."Companies either had product or they didn't, consumers either had stimulus or they didn't," Siegel said of pandemic times, noting that most retailers were able to succeed during the pandemic so long as they had inventory hitting the shelves. "I think we're back to an environment where there are winners or losers."For the weakest or most indebted retailers out there, it could mean that their businesses will continue to shrink, Siegel said, though he noted he wasn't necessarily predicting a wave of company failures."I think that the businesses, the management teams that plan only for good times are the management teams that won't be around for very long," he added.

America's shopping spree is over and retailers are facing a new world of cautious consumers

In the ever-evolving landscape of finance, few phenomena have captured the imagination and attention of investors like <keyword id="19899404" type="General" weightage="100" keywordseo="Bitcoin" source="keywords">Bitcoin</keyword>. Whenever new-age ‘finfluencers’ hailed the arrival of this supposedly futuristic digital gold, it came crashing down like a house of cards. And as another set of ‘experts’ prepared to write the obituary for the <keyword id="12913517" type="General" weightage="20" keywordseo="crypto-bubble" source="Orion">crypto bubble</keyword>, its rollercoaster journey usually made a thunderous comeback. But the one thing Bitcoin has not done, at least in the last one and a half decades, is become irrelevant despite repeated attacks of being a scam, a bubble, or a digital tulip mania. In fact, of late, it has taken an even more legitimised position as a ‘serious’ asset as the US Securities Exchange Commission (SEC) approved the spot bitcoin exchange-traded funds (ETFs) earlier this year. “The recent approval of Bitcoin ETFs in the US has sparked a significant rally in the <keyword id="20235438" type="General" weightage="20" keywordseo="crypto-market" source="keywords">crypto market</keyword>s worldwide. This development has been closely watched in India, where the <keyword id="2721952" type="General" weightage="20" keywordseo="crypto" source="Orion">crypto</keyword> market has been experiencing a surge in interest and activity,” says Balaji Srihari, Business Head at CoinSwitch. <cmsannotation type="cmsannotation" annotationid="Doubling before halving" comment="subhead" text="Doubling before halving">Doubling before halving</cmsannotation> Bitcoin's journey has been nothing short of extraordinary. Launched in 2009 by the enigmatic Satoshi Nakamoto, its core principles – decentralisation, security, and limited supply – resonated with a growing number of investors over the past one and a half decades. Today, Bitcoin is no longer a digital outcast, with major financial institutions like BlackRock and Goldman Sachs dipping their toes into the crypto pool. Last month, Bitcoin soared to unprecedented heights again, touching an all-time high of $73,000 or ₹60.5 Lakhs on March 13. As of April 15, the digital asset stands at ₹54.4 Lakhs — 10% below its peak value. “Institutional investors made the most of the last financial year by bolstering their presence in the crypto space through different initiatives that support Fiat integration, blockchain-based solutions, as well as funds dedicated to crypto. The launch of ETFs — made possible by advocacy initiatives — ensured that the crypto market gets a strong finish with Bitcoin prices crossing its all-time high,” explains Rajagopal Menon, VP at WazirX. So, what do retail investors need to know as Bitcoin continues to redefine the notion of modern investing? Three major factors will define the path for Bitcoin in FY 2024-25: elections across major economies, ongoing geo-political conflicts, and the upcoming halving event later this week! Read: <a href="https://www.businessinsider.in/cryptocurrency/article/fervent-bitcoin-trading-approaches-fresh-supply-crunch-heres-what-this-weeks-halving-event-implies/articleshow/109310433.cms" data-type="tilCustomLink">Fervent Bitcoin trading approaches fresh supply crunch; Here’s what this week’s ‘halving’ event implies</a> The last factor has been discussed in detail in the article above, but to cut the story short, <keyword id="20575368" type="General" weightage="20" keywordseo="bitcoin-halving" source="keywords">Bitcoin halving</keyword> involves reducing the reward miners receive for validating transactions by half. This feature is hard-coded in the base protocol to control the supply with time, and it happens once every four years — and is scheduled to take place by April 20 this year. <cmsannotation type="cmsannotation" annotationid="Renewed enthusiasm in Indian crypto market" comment="subhead" text="Renewed enthusiasm in Indian crypto market">Renewed enthusiasm in <keyword id="21308792" type="General" weightage="20" keywordseo="Indian-crypto-market" source="keywords">Indian crypto market</keyword></cmsannotation> The recent surge sparked fresh enthusiasm in the market, and investors from India were not behind. India spearheaded the G20 summit and declared a crypto regulatory framework for all nations in the group to be mandated by 2025. Despite regulatory hurdles like ultra-high taxation, Indian retail investors have been flocking to the crypto market yet again, driven by the growing involvement of institutional investors and the anticipation of Bitcoin Halving. “On Coinswitch, we are seeing our best quarter in nearly two years, with higher trades and user registrations. In the first quarter of 2024 alone, our BTC trading volume surged by 220%, outpacing even our global peers,” beamed Srihari as Coinswitch became the first crypto platform to reach 2 crore users last month. Menon also forecasts a bright future for the Indian crypto market. “The next financial year will be quite promising for crypto with Bitcoin halving ensuring a surge in prices, with demand-supply dynamics being a key lever. India will witness a greater adoption rate for virtual digital assets with increased liquidity in the market. The Web3 startup funding will also see some uptick. However, it might not be as generous as the last bull run,” he says. The sharp price surge and growing retail investor interest, however, reignited the debate about Bitcoin's true nature: revolutionary asset class or a volatile gamble? <cmsannotation type="cmsannotation" annotationid="Future remains uncertain despite positive indicators" comment="subhead" text="Future remains uncertain despite positive indicators">Future remains uncertain despite positive indicators</cmsannotation> In the past, Bitcoin halving has always been followed by a sharp upward surge due to reduced supply, but this year, many other factors are at play. However, it is worth noting that almost all such rallies also coincided with larger macroeconomic trends like the European debt crisis in 2012, the crypto world seeing the initial coin offering (ICO) boom in 2016, and the COVID-19 pandemic and unprecedented quantitative easing that followed in 2020. All these events contributed to heightened interest in Bitcoin during respective years. <div type="image" title="Bitcoin" msid="109306946" hostid="261" caption="&amp;lt;p&amp;gt;Source: CoinSwitch Research&amp;lt;/p&amp;gt;"></div> This year, macroeconomic factors like dropping inflation levels, possible continuation of the governing regime, and the rise of Bitcoin-related ETFs across the globe, point to a possible surge. “Major economies like India and the USA are headed for their respective elections, which could be pivotal for their market prospects as well as Bitcoin prices. This could lead to some turbulence in prices in the crypto market. However, with the demand-supply dynamics of Bitcoin poised to undergo a major overhaul (due to halving), prices could see a significant surge. Additionally, the Fed is expected to cut interest rates by 75 bps by the end of this year, and again in the following two years, which will boost liquidity in the market. This has usually been beneficial for crypto investors who take this as a cue for flocking to assets such as crypto,” opines Menon. But the ongoing geo-political tensions can play a huge role in determining the path forward for Bitcoin. Between January and June of 2022, the Russia-Ukraine conflict was among the major factors that led to an over 50% drop in Bitcoin prices, reinforcing a crypto winter like never before. Similarly, an escalation of the Israel-Palestine-Iran conflict could trigger a broader market panic, leading investors to flee riskier assets like Bitcoin. However, the impact of the crisis is difficult to predict. With its limited supply and growing acceptance, Bitcoin could even be seen as a hedge similar to gold that investors trust as a safe-haven asset during geopolitical tensions. In such a scenario, if traditional markets falter due to the crisis, Bitcoin could see increased demand as an alternative store of value. In a Deutsche Bank survey, 52% respondents expressed belief that cryptocurrencies will become an “important asset class and method of payment transactions” in the future, compared to 40% in September 2023. However, 33% of the respondents expect Bitcoin to fall to $20,000 — less than one-third of the current levels — while only 10% believe that the prices will cross $75,000 by the end of this year. So, with Bitcoin scaling new heights and the halving looming, should you invest? The answer is, as always, be cautious! Bitcoin's recent surge and the upcoming halving create an exciting opportunity for investors with a strong stomach for volatility. However, potential investors must always consider and understand the risks involved while investing in such volatile assets and diversify investments across different asset classes to mitigate risk. Disclaimer: The content on this website is for informational purposes only and should not be construed as investment advice. We recommend readers consult certified, qualified and registered advisors for professional and personalised financial advice. Also Read: <a href="https://www.businessinsider.in/cryptocurrency/article/fervent-bitcoin-trading-approaches-fresh-supply-crunch-heres-what-this-weeks-halving-event-implies/articleshow/109310433.cms" data-type="tilCustomLink">Fervent Bitcoin trading approaches fresh supply crunch; Here’s what this week’s ‘halving’ event implies</a> <a href="https://www.businessinsider.in/cryptocurrency/news/stocks-and-real-estate-will-crash-when-everything-bubble-pops-so-buy-gold-silver-and-bitcoin-says-robert-kiyosaki/articleshow/109197133.cms" data-type="tilCustomLink">Stocks and real estate will crash when 'everything bubble' pops, so buy gold, silver and bitcoin, says Robert Kiyosaki</a> <a href="https://www.businessinsider.in/cryptocurrency/news/to-the-moon-suddenly-the-crypto-market-is-back-to-its-bubble-era-peak-/articleshow/109064190.cms" data-type="tilCustomLink">To the moon! Suddenly the crypto market is back to its bubble-era peak.</a>

Bitcoin’s bizarre hike renewed enthusiasm last quarter! What does the future hold for investors?

French sports retailer <keyword id="19948511" type="General" weightage="20" keywordseo="Decathlon" source="keywords" meta.keywordsubtype="org" meta.entityname="Decathlon" meta.hostid="153" meta.entityid="Decathlon">Decathlon</keyword> on Wednesday said it will <keyword id="19954634" type="General" weightage="20" keywordseo="invest" source="keywords">invest</keyword> 100 million euros (around Rs 933 crore) in <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword>, its one of the fastest growing markets, in the next five years to expand <keyword id="19992513" type="General" weightage="20" keywordseo="retail" source="keywords">retail</keyword> footprint and <keyword id="19914449" type="General" weightage="20" keywordseo="manufacturing" source="keywords">manufacturing</keyword> operations. The company expects its business to become double in next three to five years, said Decathlon India CEO Sankar Chaterjee. The company plans to have a network of 190 stores, having presence in over 90 cities in next 5 years as part of its expansion, he added. Besides, a handful of this would also be spent on enhancing the digital channel as per the omni-channel approach of the company. Decathlon will expand its manufacturing operations and increase sourcing from india for the local market and its global operations. Currently 68 per cent of the goods sold in India are locally produced. Besides, 8 per cent of Decathlon's global product range are also met through India manufacturing. "We are aiming to take the domestic manufacturing for Decathlon India to 85 per cent by 2026," Chaterjee said. Decathlon plans to add 10-15 new stores every year, accelerating online sales and increasing local sourcing as part of expansion. Decathlon Global Chief Retail and Countries Officer Steve Dykes said India now plays an important role for the company. "India is a unique and exciting market with numerous opportunities. We have commitments to accelerate our efforts in india to make societal impact to inspire more and more Indians to play," he said. Dykes further said Decathlon will explore new sales channels as B2B to increase its impact. "We have a potential for India to play more and more and their role in Decathlon research and design and processes, over 2 million people are engaged globally in sports activity with a Decathlon clay app, and we have a big commitment in developing a future talent that comes from India, he said. In March Decathhlon had said India is a "big priority" market and expects it to be among its top five global markets within five years. SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-gained-over-3-million-subscribers-in-june-vi-lost-nearly-a-million/articleshow/112670406.cms">Reliance Jio and Airtel gained over 3 million subscribers in June, Vi lost nearly a million</a> <a href="https://www.businessinsider.in/tech/mobile/news/the-iphone-pro-models-will-be-made-in-india-for-the-first-time-this-year/articleshow/112653019.cms">The iPhone Pro models will be made in India for the first time this year</a> <a href="https://www.businessinsider.in/stock-market/webstories/orient-technologies-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112646237.cms">Orient Technologies IPO – Price band to risk factors, all you need to know</a>

Decathlon to invest 100 million euros in India in next 5 years to expand retail, manufacturing

<ul class="summary-list"><li>Indexes rose Thursday as investors cheered in a surprise increase in retail sales and lower jobless claims. </li><li>Retail sales jumped 1% in July, surpassing analyst expectations of 0.3%.</li></ul>Indexes rose Thursday as investors priced in an influx of new data on retail sales and jobless claims following the week's encouraging data on inflation. Retail sales were up 1% in July, the Commerce Department said Thursday. That increase, led by spending in the auto and electronics sectors, surpassed expectations of 0.3% from analysts surveyed by Dow Jones."Today's retail sales numbers were a blowout versus consensus, but more importantly it should lay to rest (at least for the moment) all of the doom and gloom that was expressed at the beginning of this month," Chris Zaccarelli, head of investments at Independent Advisor Alliance, said in a Thursday note.Meanwhile, jobless claims last week came in below estimates at 227,000, a 7,000 fall from the week prior. The reading should continue to soothe fears of a coming wave of unemployment after July's jobs data was weaker than expected. Treasury yields rose on the new data, with the 10-year bond yield up 12 basis points to 3.947% as investors dialed back expectations for a jumbo 50 basis point rate cut from the Fed next month. The rebound in retail and upbeat labor data follows a day after consumer inflation figures released Wednesday showed inflation cooled to 2.9% in July, its lowest level in over three years. The Bureau of Labor Statistics said that <a target="_blank" href="https://www.businessinsider.com/housing-costs-inflation-cpi-consumer-price-index-shelter-real-estate-2024-8#:~:text=Housing%20costs%20are%20the%20big,its%20lowest%20level%20since%202021.">sticky housing inflation accounted for 90% of the rise in core CPI</a>, making it the biggest factor keeping inflation high.The inflation numbers are still above the Fed's 2% target, but steady progress is being made as it looks to cool the economy without causing a dramatic spike in the unemployment rate. Investors see a 100% chance that the Fed cuts rates in September, with a 65% chance of 25 basis points and a 36% chance of 50 basis, according to the <a target="_blank" href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">CME FedWatch tool</a>.Here's where US indexes stood shortly after the 9:30 a.m. opening bell on Thursday:<ul><li><a target="_blank" href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a>: 5,512.09, up 1.04%</li><li><a target="_blank" href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Dow Jones Industrial Average</a>: 40,476.15, up 1.17% (+468 points)</li><li><a target="_blank" href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Nasdaq composite</a>: 17,415.29, up 1.3%</li></ul>Here's what else is going on today:<ul><li>After selling half its stake in Apple, Warren Buffett's Berkshire Hathaway is <a target="_blank" href="https://markets.businessinsider.com/news/stocks/warren-buffett-berkshire-hathaway-ulta-beauty-heico-apple-stock-portfolio-2024-8">betting on a glow-up for Ulta Beauty</a> with a $266 million stake.</li><li>China's population decline is having a <a target="_blank" class="" href="https://www.businessinsider.com/china-population-falling-aging-demographic-economy-slowdown-marriage-birth-rates">widespread impact on the world's second largest economy</a> as marriages, diamond sales, and retail spending drop.</li><li>Borrowers are rushing to <a target="_blank" class="" href="https://www.businessinsider.com/mortgage-rates-30-year-refinance-applications-real-estate-housing-market-2024-8">refinance their mortgages</a> as rates tumble to their lowest level in over a year.</li></ul>In commodities, bonds, and crypto:<ul><li>Oil futures rose. <a target="_blank" class="" href="https://markets.businessinsider.com/commodities/oil-price?type=wti">WTI crude</a> increased 1.6% to $78.17 a barrel. <a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price?utm_medium=ingest&amp;utm_source=markets">Brent crude</a>, the international benchmark, rose 1.5% to $80.95 a barrel.</li><li><a target="_blank" href="https://markets.businessinsider.com/commodities/gold-price?utm_medium=ingest&amp;utm_source=markets">Gold</a> rose 0.32% to $2,487.50 per ounce.</li><li>The 10-year Treasury yield rose 12 basis points to 3.947%.</li><li><a target="_blank" class="" href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> rose 0.37% to $57,592.39.</li></ul>

Stock market today: Indexes rise after retail sales boosts confidence on the consumer and the economy

<ul class="summary-list"><li>US stock futures broadly rose on Friday as declining retail sales offset inflation fears.</li><li>S&amp;P and Nasdaq futures climbed, while the 10-year Treasury yield and dollar were almost flat.</li></ul>US stocks were primed to open higher on Friday as signs of softening consumer demand tempered concerns of stubborn inflation.<a href="https://markets.businessinsider.com/futures/s&amp;p-500-futures">S&amp;P 500 futures</a> were up 0.2% shortly after 5 a.m. ET, building on the benchmark stock index's 0.6% gain on Thursday that saw it <a href="https://markets.businessinsider.com/news/stocks/stock-market-news-today-dow-retail-sales-investors-economy-finance-2024-2">close at a record</a> 5,030 points. <a href="https://markets.businessinsider.com/futures/nasdaq-100-futures">Nasdaq 100 futures</a> climbed 0.6%, while <a href="https://markets.businessinsider.com/futures/dow-futures">Dow Jones Industrial Average futures</a> slid by 0.1%.Meanwhile, the key <a href="https://markets.businessinsider.com/rates/u-s--rates-10-years?miRedirects=1">10-year Treasury yield</a> inched up to 4.264%, close to a two-month high. The <a href="https://markets.businessinsider.com/index/us-dollar-index">US Dollar Index</a> was almost flat at around 104, well above its December low of under 101.Wall Street was rattled this week after headline inflation in January <a href="https://www.businessinsider.com/inflation-cpi-consumer-price-index-january-housing-food-energy-prices-2024-2#:~:text=Inflation%20comes%20in%20hotter%20than%20expected&amp;text=The%20consumer%20price%20index%20rose,month%20over%20month%20in%20January.">didn't drop below 3%</a> as widely predicted. But retail sales slid by a larger-than-expected 0.8% last month, government data revealed on Thursday, helping to allay fears of an overheated economy and persistently high interest rates.Ipek Ozkardeskaya, a senior analyst at Swissquote Bank, suggested in a morning note that investors would have celebrated strong retail sales too, as they'd view it as fresh evidence that a recession has been avoided."We are coming to a point where the economic data becomes meaningless," she said. "Whatever the data prints, the US stock market finds a positive narrative to keep the rally going. It's, of course, blind optimism; investors are blinded by the brilliance of the rate cuts at the tunnel's end.""Today, the US will reveal the latest producer price update," she continued. "The producer price inflation is expected to have slowed in January. And if it didn't, it doesn't matter."Companies slated to report <a href="https://markets.businessinsider.com/earnings-calendar">earnings</a> later include TC Energy, Vulcan Materials, and Cinemark.On the <a href="https://markets.businessinsider.com/economic-calendar">economic front</a>, Wall Street will be looking out for not just producer price data, but figures for housing starts in January, and scheduled comments from two Federal Reserve officials, Michael Barr and Mary Daly.

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