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Stock markets all over the world, including Sensex, Nifty, Nikkei, and NASDAQ fell significantly today, as they reacted to weak US labor market data, with unemployment rates inching up to 4.3%, from 4.1% in July 2024. In response, the Nikkei 225 dipped around 4,451 points, witnessing the worst losses it has seen since 1987. On the other hand, the Sensex plunged over 2,000 points, and the NASDAQ also slipped 417.98 points. Nifty also closed the day at 24,055.60, down by 2.68%. Closer home, the D-Street mayhem wiped of Rs 15 lakh crore worth of investor wealth in a single day. While this might spook even seasoned investors, should this bloodbath drive you to exit the market, or is it time for you to go on a quality stock buying spree? Here's what the experts have to say <h2>Market corrections = Opportunities </h2>Vinnaayak Mehta, Founder, The Infinity Group, a personal finance consultancy says that given the current market downturn, it is important for investors to stay calm, and not make any hasty decisions. "Market corrections can offer opportunities to buy quality stocks at more attractive valuations. Investors should take this time to evaluate their portfolios, focusing on long-term goals and strong fundamentals rather than short-term <keyword id="19908008" type="General" weightage="20" keywordseo="volatility" source="keywords">volatility</keyword>. This period of correction may present a chance to reassess asset allocations and consider strategic adjustments", he says. <h2>Expect low returns in the short run</h2> Mr. Sandeep Bagla, CEO of Trust Mutual Funds advises investors to keep their return expectations low and realistic, at least in the short run. Invest only if you have a suitably long <keyword id="19895437" type="General" weightage="20" keywordseo="investment" source="keywords">investment</keyword> horizon. This will help you go through an imminent, upcoming market correction, along with helping you tide over periods of volatility in the interim. "Markets like India, where domestic economy is like more resilient than other economies, could be less affected in the mayhem. However, you should keep systematically investing in the stock markets, and not hit brakes on your investments. Stay invested to reap benefits from growth over the long term", he explains. <h2>Indians markets are relatively safe </h2>As per Siddharth Alok, AVP Investments, Multi Ark Wealth-Epsilon Money Group, investors should consider buying in these dips, but only if their investing horizon is over 3 years. "As valuations further rise, these sudden down moves might become more frequent. Equity markets returns are never linear. However, the direct impact on Indian markets remains limited; this can be seen from the overall relative strength that domestic markets are witnessing, while <keyword id="19908188" type="General" weightage="20" keywordseo="global-markets" source="keywords">global markets</keyword> are down 10-20%, Indian markets are hardly down 5% including today from their recent peaks", highlights Alok. <h2>Invested heavily in small and mid caps? Time to move </h2> During any market corrections, mid and small caps are the first in line of fire. Given that both of these segments are far more volatile, as compared to their stable, large-cap counterparts, the impact of a correction is far more visible on small cap and mid cap stocks. As Jay Shah, Founder &amp; CEO, Finwisor puts it, "when the markets are at rich valuations, the markets become fragile and look for opportunities to correct. The correction generally happens disproportionately-more in small caps and less in large caps". Amidst today's rout, while Nifty50, an index of India's top 50 companies by market capitalization stumbled about 2.68%, Nifty midcap 50 was down by 3.28%, while midcap 100 plunged by 3.55%. Going a step ahead, Nifty small cap 100, a larger universe of just small cap stocks, dipped by 4.57%. In such a situation, Shah suggests that long-term investors who are sticking to their asset allocation strategies should sit still, while those who are heavily invested in midcaps and small caps should move their investments large-cap stocks. And in case one is sitting on idle cash, this is a good time to start deploying their funds in the market.

Stock market crash: What should your next move be?

<ul><li>The <keyword id="8194701" type="General" weightage="20" keywordseo="refurbished-smartphone" source="Orion">refurbished smartphone</keyword> market has recorded rapid growth in India.</li><li>While the unorganised sellers dominate the market, the organised sellers are also growing.</li><li>Affordability and shorter upgrade cycles are among the factors fueling the refurbished smartphone market.</li></ul> India's refurbished smartphone market is experiencing significant growth, outpacing the new smartphone sector. This reflects a maturing market which is increasingly catering to consumers looking for affordable yet reliable options. According to a report by Counterpoint Research, unorganised sellers dominate the refurbished smartphone market, accounting for 77% of transactions. The Indian refurbished smartphone sector has traditionally been dominated by unorganised players, offering devices at a fraction of the cost of the new models. However, the introduction of value-added services like warranties, quality assurance, and after-sales support by emerging e-commerce platforms is beginning to formalise this market, enhancing consumer trust and driving further growth. <h2>What’s fueling the refurbished smartphone market</h2><h3>Affordability</h3><keyword id="2698558" type="General" weightage="20" keywordseo="refurbished-smartphones" source="Orion">Refurbished smartphones</keyword> offer consumers access to higher-end hardware at lower costs, making premium technology more accessible to a broader audience. This aspect is particularly appealing in a price-sensitive market like India. <h3>Shorter upgrade cycles</h3>With technology evolving rapidly, many users prefer to upgrade their phones more frequently. Refurbished devices provide an avenue for this without the high cost associated with new purchases. <h3>Environmental impact</h3>There's a growing awareness of the environmental benefits of using refurbished products, which reduces electronic waste and the demand for new manufacturing, which is resource-intensive. <h3>Consumer confidence</h3>The entry of organised players who provide guarantees and quality checks on refurbished devices has significantly boosted consumer confidence. These services add a layer of reliability to what was once a market fraught with uncertainty about product condition and longevity. Despite the growth in the unorganised sector, there's a noticeable trend towards formalisation. E-commerce platforms specialising in refurbished goods are expanding, providing consumers with the convenience of online shopping backed by credible service commitments. The report also notes that this growth is not just contained within India. Globally, the refurbished smartphone market is on an upward trajectory, with similar trends observed in markets like Latin America, suggesting a broader international shift towards sustainable consumption in electronics. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/moto-g35-5g-with-120hz-5000mah-battery-launched-at-9999/articleshow/116172283.cms">Moto G35 5G with 120Hz display, 5,000mAh battery launched at ₹9,999</a> <a href="https://www.businessinsider.in/tech/mobile/news/redmi-note-14-pro-and-redmi-note-14-pro-launched-in-india-starting-at-24999/articleshow/116134415.cms">Redmi Note 14 Pro and Redmi Note 14 Pro+ launched in India starting at ₹24,999</a> <a href="https://www.businessinsider.in/tech/mobile/news/vivo-x200-and-x200-pro-camera-centric-to-launch-in-india-on-december-12/articleshow/115930004.cms">Vivo X200 and X200 Pro camera-centric smartphones to launch in India on December 12</a>

India's refurbished smartphone market witnesses accelerated growth

The Indian <keyword id="21219153" type="General" weightage="20" keywordseo="employment-market" source="keywords">employment market</keyword> is projected to experience a 6.33% incremental expansion over the first half of FY 2024-25, according to a report by TeamLease. The report highlighted that 56% of employers expect their workforce to grow, 21% anticipate a decline, and 23% believe their workforce size will remain unchanged. The report provided a detailed analysis of the <keyword id="21680463" type="General" weightage="100" keywordseo="Indian-job-market" source="keywords">Indian job market</keyword> across 23 industries and 20 cities. It highlighted workforce expansion trends, emphasizing the impact of <keyword id="20509550" type="General" weightage="20" keywordseo="economic-conditions" source="keywords">economic conditions</keyword>, organizational dynamics, skill shortages, and <keyword id="20358462" type="General" weightage="20" keywordseo="technological-advancements" source="keywords">technological advancements</keyword> on hiring strategies. The growth in the employment market is attributed to the favourable economic conditions in the country, including a nearly 7% GDP growth forecast for 2024 by most global rating agencies, which would make India the fastest-growing G-20 nation. Strong investment demand, peaking headline inflation, and a greater emphasis on technology and skills by employers are also key factors. In terms of cities, Delhi, Bangalore, and Hyderabad emerged as the top cities with the highest proportion of employers expanding their workforce sizes. These cities attract businesses due to their established infrastructure, large talent pools, and economic vitality. The consistent preference for these major cities underscores their significance as job concentration hubs, despite the growing trend of expansion into new locations. These urban centres play a strategic role in driving employment growth and economic development in India. The report also noted that nearly two out of five organizations are focusing on bridging skill gaps, highlighting a shift towards a more adaptable and skilled workforce in preparation for technological advancements and new skills. The report said that Generative AI (<keyword id="19949719" type="General" weightage="20" keywordseo="GenAI" source="keywords">GenAI</keyword>) is particularly noteworthy, as it has the potential to transform key business processes, impacting workforce dynamics and reshaping talent management. In response, 35% of surveyed organizations reported significant changes in their talent acquisition strategies to integrate advanced AI technologies. On the unemployment front, the report stated out that a significant portion of the unemployed workforce, nearly 83%, consists of youth aged 15-29. Over the past two decades, there has been a significant increase in the educational attainment of these unemployed youths. The proportion of those with at least secondary education rose from 35.2% in 2000 to 65.7% in 2022, indicating a rising educational profile among the unemployed. However, the national <keyword id="20054242" type="General" weightage="20" keywordseo="unemployment-rate" source="keywords">unemployment rate</keyword> has progressively decreased, falling to 3.1% in 2023 from 3.6% in 2022 and 4.2%in 2021. The unemployment rate in urban areas also decreased from 7.2% to 6.5% for persons aged 15 years and above between October-December 2022 and October-December 2023. The <keyword id="19913761" type="General" weightage="20" keywordseo="gig-economy" source="keywords">gig economy</keyword> in India is experiencing rapid growth, with the number of gig workers projected to rise from 7.7 million in 2020 to 23.5 million by 2029-30, demonstrating a compound annual growth rate (CAGR) of almost 12%. The distribution of gig work across skill levels includes 47% in medium-skilled jobs, 22% in high-skilled jobs, and 31% in low-skilled jobs, highlighting the diverse opportunities within this sector. In the media &amp; entertainment industry, digital transformation and changing consumer preferences are driving 48% of employers towards <keyword id="22204807" type="General" weightage="20" keywordseo="workforce-growth" source="keywords">workforce growth</keyword> in the first half of FY 2024-25. However, the other half of the industry faces turbulence and uncertainty.

Maximum employers expect their workforce to grow in first half FY 2024-25, says Teamlease report

<ul class="summary-list"><li>Treasury Secretary Janet Yellen says the labor market is "healthy" even amid this week's downbeat data.</li><li>Weak data this week has sparked further labor market worries ahead of expected Fed rate cuts.</li></ul>Treasury Secretary Janet Yellen says the US labor market is holding up, even as this week's data shows signs it's weakening."My judgment is that we have a good, healthy labor market where we continue to create jobs," Yellen told reporters on Thursday, according to Bloomberg.Yellen's comments come amid a handful of new data points that show a weaker labor market picture ahead of expected interest rate cuts from the Federal Reserve. July's jobs report showed a surprise increase in the unemployment rate, up to 4.3% from 4.1% in June, which helped spark a market sell-off in early August.But Yellen said that the rate is still low. "The job market has become less tight within the last year or so, but the unemployment rate we have today by historical standards would be considered very low," Yellen said.The August jobs report, due Friday morning, is expected to show a slight decrease in the unemployment rate to 4.2%.Investors are eagerly awaiting that data for further indication of labor market health, especially after recent data suggests signs of weakness.Private payroll data showed employeres hired just 99,000 workers in August, missing estimates of 140,000 and marking a decline from 111,000 hires in July.Job openings also took a hit, with data showing job openings fell to 7.67 million in July, marking a three-year low, according to the Bureau of Labor Statistics.The Fed is expected to cut rates at its meeting later this month, and the amount will likely depend on labor market data. Investors currently expect a 25 basis-point cut, though markets think odds have also edged up for a 50 basis point move down.

The US labor market is 'healthy,' Treasury Secretary Janet Yellen says, even as data shows conditions softening

Imagine a bustling jewellery market teeming with diamonds and gold. Amidst this glittering chaos, a small stall is trying to sell handcrafted gemstones. Even as newer and shinier outlets keep cropping up, all vying for attention, this gemstone store offers some of the oldest yet valuable jewels at a discount. Though they lack immediate sparkle, these rare gems reveal their value to the discerning buyer. This is how South Korea appears for many experts in global capital markets: a trove of undervalued gems, overshadowed by brighter, more aggressively marketed investment options. This undervaluation, known as the "<keyword id="24399183" type="General" weightage="20" keywordseo="korean-discount" source="keywords">Korean Discount</keyword>," reflects how South Korean companies are priced much lower than their global peers despite robust fundamentals — strong financial performance and consistent profitability. Contributing factors are many, ranging from opaque governance structures to geopolitical risks. But the fact stays, if you are a seasoned conglomerate listed in South Korea, you are likely undervalued. <keyword id="19906087" type="General" weightage="20" keywordseo="hyundai" source="keywords">Hyundai</keyword> Motor India Ltd. (HMIL), a subsidiary of the Korean giant Hyundai Motor Company (HMC), recently sought to escape this valuation trap by listing in India, a market where investor optimism commands premium pricing. But its valuation raised many eyebrows! Now that a month and a half has gone by since its listing, time is apt to examine if this gamble paid off. Will <keyword id="93460" type="General" weightage="100" keywordseo="hyundai-india" source="Orion">Hyundai India</keyword> justify its high valuation? Or does the listing highlight broader questions about the overheated valuation dynamics of Indian markets? A record-breaking <keyword id="19898327" type="General" weightage="20" keywordseo="ipo" source="keywords">IPO</keyword> but questions remain Hyundai Motor India’s mega Initial Public Offering (IPO), launched in October 2024, broke records by raising ₹27,870 crore, making it India’s largest-ever IPO. The offer was oversubscribed by 2.37 times, highlighting robust demand. But many investors remained sceptical: was this IPO an honest attempt to expand Hyundai’s footprint in India or was it trying to offer a way to cashout for existing investors and promoters? Or perhaps, is it an attempt by the Korean chaebol — a large family-owned business conglomerate — to break free from the aforementioned “Korean Discount”? When shares listed on October 22, these concerns seemingly weighed on the minds of most investors and the stock promptly dipped 5% below the issue price on the day. A tepid grey market performance had already foreshadowed this muted debut in the Indian markets. Now, after almost 35 trading sessions on Indian market, the stock remains almost exactly at price it listed on October 22 at Rs 1820—no gain, no loss. <h3>The gamble of hyper-valuation</h3>Much of this hesitation stemmed from Hyundai’s valuation. On listing, Hyundai was valued at $18 billion, positioning it as one of India’s most valuable automotive companies. However, such high valuations often temper investor enthusiasm, resulting in more cautious short-term outcomes. For most investors, the Price-to-Earnings (P/E) ratio is the most preferred parameter to gauge if a company is overvalued or undervalued. With a P/E ratio of 26.3, HMIL was priced significantly above the Indian automotive industry average of 24.4. Globally, automotive companies operate with much lower P/E ratios, reflecting mature market conditions and slower growth trajectories. HMIL’s South Korean parent Hyundai Motor Company (HMC) trades at a meagre 3.07, believe it or not! For Indian investors, the high premium hinted at overvaluation despite Hyundai’s strong domestic position. Such stark difference in valuation obviously sparked debates — is the Indian market assigning a premium to Hyundai Motor India’s growth potential, or is it simply reflecting the general exuberance around the prospects of the Indian economy? Another concern is the allocation of IPO proceeds. Hyundai’s IPO was structured as an offer for sale (OFS), meaning all funds raised would flow to the parent company rather than Hyundai India’s operations. Although Hyundai has committed to investing in R&amp;D for EVs and hybrids, critics argue that the lack of immediate reinvestment in India’s operations reflects a missed opportunity for domestic growth. Despite the early disappointment, Hyundai was confident that the valuation was fair. It did have some factors going for it, in addition to the fact that other auto giants like Mahindra &amp; Mahindra and <keyword id="19909974" type="General" weightage="20" keywordseo="maruti-suzuki" source="keywords">Maruti Suzuki</keyword> command even higher P/E ratios. And looking at the company fundamentals, it does seem like Hyundai is playing a long-term game. <h3>Hyundai in India: A proven track record</h3>Despite the initial stumble, Hyundai India’s long-term story is compelling. Since entering the Indian market in 1996, the automaker has sold over 8 million vehicles and firmly occupies the second spot in the domestic passenger vehicle market, trailing only Maruti Suzuki. Hyundai’s blockbuster SUV offerings, like the Creta and Venue, have been critical in building this dominance. Despite some challenge from Maruti Suzuki Brezza and Tata Punch, Creta has retained the tag of ‘most-selling SUV in India’ successfully so far this year. <div type="image" title="Hyundai" agency="Business Insider India" msid="116156234" hostid="261" caption="&amp;lt;p&amp;gt;Selling over 17,000 units per month on average this year, Creta has edged past major competitors to be the most-selling SUV in India in 2024. As Indian consumers preference continues to shift gradually towards premium products over budget segments, Hyundai stands to benefit (Wikimedia Commons / Canva)&amp;lt;/p&amp;gt;"></div> Selling over 17,000 units per month on average, Creta has edged past major competitors to be the most-selling SUV in India in 2024. As Indian consumers preference continues to shift gradually towards premium products over budget segments, Hyundai stands to benefit (Wikimedia Commons / Canva) Hyundai India’s market share of 14% in October 2024 underscores its clout. The company’s ability to tap into India’s premiumisation trend, where consumers increasingly prefer high-end vehicles, positions it well for growth. With plans to expand in electric vehicles (EVs) and hybrid technology, Hyundai is poised to capitalise on both domestic demand and export opportunities. The company’s ability to capitalize on its strong brand, extensive dealer network, and leadership in segments like SUVs and exports will determine its future performance. Hyundai’s strategic focus on expanding electric vehicle production also aligns with global trends towards sustainability, potentially positioning it as a leader in the segment. By listing in India, Hyundai aims not only to expand its operations but also to make India a global manufacturing and export hub for its products, especially SUVs and EVs. Therefore, despite early setbacks, Hyundai’s gamble seems to have paid off. The stock has rebounded, gaining 5% in the past month. More good news came in this week, as positive projections from Morgan Stanley and JPMorgan forecast an impressive 17-28% upside for the stock over the next year, reflecting growing investor optimism. <h3>A strategic pivot from the Korean Discount?</h3>The Korean Discount has long plagued South Korea’s chaebols, including Hyundai. Experts attribute this to several factors: <ul> <li>Chaebol Governance: South Korea’s conglomerates, known as chaebols, are often criticised for opaque governance structures and excessive family control.</li> <li>Geopolitical Risks: Tensions with North Korea contribute to investor caution, adding a layer of perceived risk.</li> <li>Limited Domestic Liquidity: South Korea’s relatively small investor base can constrain market activity and valuation potential.</li> </ul> By listing in India, Hyundai sought to unlock better valuations for its subsidiary, leveraging the optimism of Indian markets. India’s stock market has a trailing P/E ratio of 24.4, far above South Korea’s Kospi average of 16-17. The Indian market’s appetite for high-growth stories provides a fertile ground for companies like Hyundai to escape the valuation constraints of their home market. A successful IPO could encourage other such conglomerates to follow suit, setting a precedent. While Hyundai India has a robust track record, its future success hinges on navigating key challenges: <ul> <li>Supply Chain Vulnerabilities: Hyundai relies heavily on its Chennai plant, making it vulnerable to disruptions.</li> <li>Intensifying Competition: Domestic rivals like <keyword id="19906967" type="General" weightage="20" keywordseo="tata-motors" source="keywords">Tata Motors</keyword> and MG Motors are making aggressive inroads into the EV market.</li> <li>Policy Risks: The automotive sector’s reliance on government incentives for EVs and hybrids adds a layer of unpredictability.</li> </ul> High valuations come with risks. Hyundai will need to prove that it can sustain its growth trajectory in India, fend off competition from established players like Maruti Suzuki and Tata Motors, and navigate challenges such as supply chain disruptions and regulatory hurdles. If Hyundai successfully capitalises on its strong brand and market leadership, it could not only redefine its value but also serve as a case study for other Korean companies seeking better recognition and valuations in global markets. <h3>Is Hyundai saga a reflection of overheated Indian markets?</h3>The bigger question here is, does Hyundai’s IPO highlights a broader narrative about Indian markets’ premium valuations? With a trailing P/E ratio of 24.4, Nifty 50 index is among the highest in emerging markets. India’s stock markets consistently command a premium due to robust retail participation, strong economic growth prospects, and a burgeoning middle class. While this premium reflects optimism about India’s long-term growth story, it also signals potential risks of overvaluation, particularly in sectors like technology, automotive, and consumer goods. With a record ₹94,017 crore outflow by Foreign Portfolio Investors (FPIs) in October 2024, concerns about overheated valuations are mounting. Sustaining such unprecedented valuations required companies to consistently perform above global averages, and retaining robust earnings growth quarter after quarter remains a challenge in today’s uncertain world. For Hyundai, the high valuation is both an opportunity and a risk. While it underscores investor confidence, it narrows the margin of safety, making the stock vulnerable to corrections during economic downturns. Take for example, the high-profile IPO of Life Insurance Corporation of India (LIC) that raised over ₹21,000 crore. Its listing was met with disappointment as the stock began trading at a 9% discount to its issue price, and subsequent performance has remained subdued. LIC’s post-IPO journey also highlights how inflated valuations can lead to long-term underperformance, as the stock gave only 12% return over the past 30 months when even the Nifty 50 index went up by over 44%. This happens when when the company's growth narrative fails to align with its pricing. Despite being a household name with a dominant market share, LIC's stock has struggled to meet expectations, partly due to concerns about its operating efficiency and the limited use of IPO proceeds for growth initiatives. Make no mistake, Hyundai Motor India’s IPO is a landmark event! It showcases the potential for Korean companies to leverage emerging markets like India for better valuations. It also shows that strong fundamentals can help justify a company such premium valuations even amidst bearish economic prospects. However, it also serves as a cautionary tale about the risks of overvaluation. For Hyundai, the next steps involve proving its long-term growth story, navigating competitive challenges, and maintaining investor confidence. For Indian markets, Hyundai’s IPO underscores the need to balance optimism with realistic expectations as they continue to evolve as global investment hotspots. To sustain the country’s economic narrative as a land of unmatched opportunities, corporate India must work on improving long-term fundamentals and mitigating long-term risks. As global investors watch closely, Hyundai India’s success or failure could shape how international companies view India as a listing destination in the years to come.

Tackling the 'Korean Discount': A deep dive into curious case of Hyundai Motor India's market listing

Amid the ongoing selling in the Indian stock markets, the growth in the demat accounts also declined in October, highlighted a report by ICICI Securities The report highlighted that after a strong four-month period where monthly additions to demat accounts exceeded 4 million, October 2024 saw a decline in new demat accounts. It also added that the total number of accounts added in October fell to 3.45 million, down from 4.36 million in September 2024. This dip breaks the streak of steady growth in demat accounts, suggesting a possible shift in <keyword id="20030258" type="General" weightage="20" keywordseo="investor-sentiment" source="keywords">investor sentiment</keyword> or market conditions. "Demat accounts additions fall below 4 million after four months After four consecutive months of more than 4 million <keyword id="23912333" type="General" weightage="100" keywordseo="Demat-account-additions" source="keywords">demat account additions</keyword> in a month," the report said. Among depositories, the Central Depository Services Limited (CDSL) maintained a strong lead in market share. In October 2024, CDSL's share of total and incremental demat accounts stood at 79% and 90%, respectively. Meanwhile, individual investor activity showed mixed trends in September 2024 across different market segments. The report stated that the number of individual investors actively trading in the National Stock Exchange's (NSE) cash market increased slightly. In September, 15.8 million individual investors traded at least once, marking a 1.9% increase from 15.5 million in August. Over the first half of the financial year (6MFY24), a total of 29.4 million individuals participated at least once in the cash market, compared to 30.7 million for the full FY24. However, participation in the equity derivatives segment saw a downturn. The number of individual investors trading at least once in a month on the NSE's equity derivatives segment dropped by 3.6 % in September, falling to 4.46 million from 4.66 million in August. For the first half of FY24, a total of 8.7 million individuals participated in the derivatives market, a decline from 9.6 million for the entire FY24. This decline indicates a reduced interest in derivative trading among individual investors, possibly due to increased volatility or changing market preferences. The report said, "A total of 29.4 million individuals have participated at least once in 6MFY24 vs. 30.7 million in FY24. Individual investors, who traded at least once in a month on NSE's equity derivatives segment, declined 3.6% MoM in Sep'24 to 4.46 million vs. 4.66 million in Aug'24". The dip in both new demat accounts and derivatives participation among individual investors suggests a cautious outlook among retail participants. As global economic conditions remain uncertain, domestic markets face volatility amid the continued selling by foreign investors.

New Demat account additions drop to 4-month low in October as market declines, notes report by ICICI Securities

Mumbai: The rupee fell sharply by 15 paise against the US dollar to 83.44 in early trade on Wednesday amid muted trends in the domestic equity markets. However, a decline in the dollar index and a marginal fall in the Brent crude index prevented further losses in the domestic unit, according to experts. At the interbank foreign exchange, the local unit opened at 84.38 -- down 9 paise from its previous close -- and then slid further to 84.44, registering a decline of 15 paise from its previous close. On Tuesday, the rupee pared its intra-day losses to settle flat at 84.29 against the US dollar. "The <keyword id="24182640" type="General" weightage="20" keywordseo="Indian-banking-liquidity" source="keywords">Indian banking liquidity</keyword> fell into deficit as industry players paid Rs 1.6-1.8 lakh crore as GST payment. This was after two months that liquidity has fallen into a deficit as the RBI also intervened into forex markets to defend the rupee weighing on liquidity conditions," Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said. "The rupee may be in the broad range of 84.00 to 84.50 in the near term as markets await a slew of data from the US this evening," Bhansali added. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was down 0.15 per cent to 106.84. Brent crude, the global oil benchmark, was marginally down 0.10 per cent to USD 72.74 per barrel in futures trade. In the domestic equity market, the 30-share equity benchmark Sensex was trading 46.69 points lower, or 0.06 per cent, at 79,957.57 points. <keyword id="19932515" type="General" weightage="20" keywordseo="Foreign-Institutional-Investors" source="keywords">Foreign Institutional Investors</keyword> (FIIs) were net buyers in the capital markets on Tuesday, purchasing shares worth Rs 1,157.70 crore, according to exchange data.

Rupee falls 15 paise to 83.44 against US dollar in early trade

<ul class="summary-list"><li>Toyota and BMW both reported plunging profits on Wednesday.</li><li>The Japanese and German automakers have faced falling sales in China.</li></ul>China's EV giants are rising, putting foreign automakers under pressure in the world's largest car market.Toyota and BMW reported a drop in quarterly profits on Wednesday, with sales in China slumping for both companies as they face growing competition <a target="_blank" class="" href="https://www.businessinsider.com/why-byd-is-beating-tesla-ev-rivals-china-2024-11">from local automakers like BYD</a>.Toyota's profit for the quarter ending in September was 573.7 billion yen ($3.7 billion), down from nearly 1.28 trillion yen ($8.3 billion) over the same period last year.The company is grappling with a slowdown in sales in China and its home market, Japan.According to Toyota data released in October, sales in Japan plunged by nearly 17% in the first nine months of the year.In China, meanwhile, Toyota is facing fierce competition from local EV giants like BYD. Thanks to their affordable electric vehicle range, BYD has <a target="_blank" href="https://www.businessinsider.com/germany-auto-giants-volkswagen-bmw-mercedes-struggle-sales-china-evs-2024-10">rapidly taken market share from foreign firms</a>.Sales in China were down just over 10% in the first nine months of the year, with Toyota attributing the drop to "severe market conditions" such as "intensifying price competition."Luxury European carmaker BMW, meanwhile, has also found itself facing weakness in China and a high-profile recall.The German auto group said profit before tax dropped nearly 80% in the third quarter from the previous year as it reported earnings on Wednesday.BMW previously cut its financial outlook after recalling more than 1.5 million vehicles due to a braking system issue. The automaker said deliveries fell 30% in China in the third quarter.Like its German rivals Mercedes and Audi, BMW has been hit by stuttering demand for luxury vehicles in China — and it is also facing <a target="_blank" class="" href="https://www.businessinsider.com/luxury-european-carmakers-china-sales-competition-electric-vehicles-bmw-mercedes-2024-10">pressure from local rivals</a>.BYD and smartphone maker Xiaomi have made efforts to expand into the premium market. BYD launched the $150,000 Yangwang U8 SUV last year, and Xiaomi recently unveiled a <a target="_blank" class="" href="https://www.businessinsider.com/chinese-ev-xiaomi-su7-driven-by-fords-ceo-faster-model-2024-10">high-performance version of its SU7 luxury sedan</a>.Toyota and BMW did not respond to a request for comment, sent outside normal working hours.

Toyota and BMW are the latest casualties in China's evolving EV market 

<ul class="summary-list"><li>US stocks climbed higher as traders took in inflation figures from October that were in-line with estiamtes.</li><li>Consumer prices rose 2.6% on a yearly basis last month and 0.2% for the month. </li></ul>US stocks ticked higher on Wednesday as traders took in fresh <a target="_blank" class="" href="https://www.businessinsider.com/inflation-october-cpi-consumer-price-index-federal-reserve-interest-rates-2024-11">inflation figures</a>, which were in line with economists' expectations. Major indexes edged up in early-morning trading, while bond yields slumped.Consumer prices grew 0.2% in the month of October and 2.6% on a year-over-year basis. The increase was <a target="_blank" class="" href="https://www.businessinsider.com/inflation-september-cpi-consumer-price-index-federal-reserve-interest-rates-2024-10">slightly hotter</a> than last month's 2.4% price growth, but in line with expectations, which kept investors hopeful that the Federal Reserve will cut interest rates at its December meeting. Expectations for another 25 basis point rate cut in December solidified. Markets are pricing in a 82% chance the Fed will trim its target rate by another quarter-point, up from a 59% yesterday, according to the <a target="_blank" class="" href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">CME FedWatch tool</a>."Given nervousness around the more inflationary aspects of Trump's policy proposals, markets appeared primed for an upside inflation surprise today," Seema Shah, the chief global strategist at Principal Asset Management, said in a note. "A December cut is still in the cards," she added.Still, the rise in the overall inflation rate makes the outlook for future Fed cuts uncertain, according to Skyler Weinand, the chief investment officer of Regan Capital."With Wednesday's CPI in line with expectations, but still stubbornly above the Fed's 2% goal, the Fed may have only one rate cut left in December before taking a pause from their easing path," Weinand said in a note.He continued: "The incredible move in the stock market postelection has effectively eased financial conditions for stock investors. This easing, combined with incoming fiscal stimulus, may warrant a pause on rate cuts by the Fed in the near future to allow the dust to settle and to process more incoming data."Assets that are part of the Trump Trade appeared to remain in-focus on Wednesday, with shares of Tesla rising as much as 3% while Dogecoin climbed 4% after <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-trump-tesla-spacex-x-department-government-efficiency-jobs-2024-11">Elon Musk was appointed</a> to co-head Trump's newly created Department of Government Efficiency, along with entrepreneur Vivek Ramaswamy.Here's where US indexes stood shortly after the 9:30 a.m. opening bell on Wednesday:<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">S&amp;P 500</a>: 5,988.06, up 0.07%</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">Dow Jones Industrial Average</a>: 43,988.08, up 0.18% (+77.10 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">Nasdaq composite</a>: 19,285.65, up 0.03% </li></ul>Here's what else is going on:<ul><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-top-performing-asset-2025-bull-rally-trump-2024-11">Stock exposure is at an 11-year high</a> after the election as investors see US stocks as the top-performing asset next year, BofA said. </li><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-biggest-risk-trump-win-china-trade-war-2024-11">The biggest risk to stocks</a> after Trump's election victory is China's reaction to a trade war, according to one research firm.</li><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/dogecoin-price-market-value-ford-crypto-boom-trump-elon-musk-2024-11">Dogecoin surpassed Ford in value</a> as Trump's election win propelled the total crypto market cap to $3 trillion.</li><li>Here are <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-rally-trump-trade-outlook-risks-inflation-yields-dollar-2024-11">3 risks that could derail the Trump trade in stocks</a>, according to Morgan Stanley.</li></ul>In commodities, bonds, and crypto:<ul><li><a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price">West Texas Intermediate</a> crude oil declined 1.07% to $67.39 a barrel. <a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price">Brent crude</a>, the international benchmark, was lower by 0.92% to $71.23 a barrel.</li><li><a target="_blank" href="https://markets.businessinsider.com/commodities/gold-price">Gold</a> edged up 0.61% to $2,612.10 an ounce.</li><li>The 10-year Treasury yield dropped six basis points to 4.365%.</li><li><a target="_blank" href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> climbed 4.29% to $89,642.</li></ul>

Stock market today: Indexes edge higher after tame October inflation report

Have an injury? Add some haldi to milk and sip on it. Want to lose weight? Oh, drinking <keyword id="20121840" type="General" weightage="20" keywordseo="green-tea" source="keywords">green tea</keyword> is wonderfully helpful. Looking to improve the quality of your sleep and reduce stress levels? <keyword id="19931248" type="General" weightage="20" keywordseo="ashwagandha" source="keywords">Ashwagandha</keyword> Is the answer. As generic, well-meaning and seemingly harmless this advice may seem at first glance, research suggests that it couldn’t be further from the truth. In our quest for natural wellness, many of us turn to <keyword id="21026336" type="General" weightage="20" keywordseo="herbal-remedies" source="keywords">herbal remedies</keyword>, entrusting our health to the power of botanicals like <keyword id="20083142" type="General" weightage="20" keywordseo="turmeric" source="keywords">turmeric</keyword> and green tea. However, if you see a loved one indulging in <keyword id="22711781" type="General" weightage="20" keywordseo="botanical-supplements" source="keywords">botanical supplements</keyword> that they claim are perfectly safe (without running it past a healthcare professional first), you may do well to swat that thing right out of their hands. A recent <a href="https://jamanetwork.com/journals/jamanetworkopen/fullarticle/2821951">survey</a> by the University of Michigan reveals a concerning trend: while these herbs can offer benefits, their misuse poses significant threats to our liver. According to the survey, approximately 18.6 million people in the United States regularly use herbal remedies that have the potential to harm the liver. These findings highlight a growing reliance on plant-based supplements for health management. In moderation, herbs like green tea and turmeric can indeed support our well-being. Yet, when consumed in concentrated forms, such as capsules, the risk of overdosing increases, leading to a rise in hospitalisations due to herbally-induced liver problems globally. <div type="Article" hostid="261" msid="95151293" title="Doctors say trendy turmeric supplements can cause liver damage and urge Americans to know the risks" mstype="2" mssubtype="0"></div> Using data from 9,685 participants in the US National Health and Nutrition Examination Survey (NHANES), researchers identified the six most commonly consumed herbal products. These include supplements used to treat high cholesterol, depression, and pain. Disturbingly, these are also the products most frequently implicated in liver injury. Over the past two decades, the rate of drug-induced liver injury from these supplements has nearly tripled, rising from 7 percent in 2004 to 20 percent by 2014. Among the botanical products associated with severe and sometimes fatal liver injury are turmeric, kratom, green tea extract, and Garcinia cambogia. Diagnosing liver injury can be challenging until it becomes severe, with symptoms such as fatigue, low appetite, and weight loss. In advanced cases, the liver's inability to process bilirubin leads to jaundice, characterised by a yellowing of the skin and eyes. Dr Cyriac Abby Philips, popularly known as <keyword id="17696323" type="General" weightage="20" keywordseo="the-liver-doc" source="Orion">The Liver Doc</keyword>, also took to his X handle to comment on this topic. He shared the experience he had with one of his patients, where the consumption of a BCAA supplement likely harmed their liver possibly because of ingredients like curcumin — known to have liver toxic properties. He called for doctors to check for the complete list of ingredients in the medicines and supplements they prescribe while being especially wary of modern medicine products with herbal components. Evidently, a glaring problem here is that the safety and efficacy of herbal and <keyword id="21293800" type="General" weightage="20" keywordseo="dietary-supplements" source="keywords">dietary supplements</keyword> remain poorly established, primarily due to the lack of stringent regulatory requirements by the US Food and Drug Administration (FDA). Unlike conventional medications, these supplements do not undergo rigorous human pharmacokinetic or prospective clinical trials before reaching the market. A similar problem exists in India, as well. <div type="Article" hostid="261" msid="111332110" title="Should you take multivitamins? 20-year-long study on 3 lakh people shows they DON’T help you live longer" mstype="2" mssubtype="0"></div> Meanwhile, the study showed that the use of <keyword id="22711780" type="General" weightage="100" keywordseo="herbal-supplements" source="keywords">herbal supplements</keyword> is more prevalent among individuals with <keyword id="22711782" type="General" weightage="20" keywordseo="chronic-medical-conditions" source="keywords">chronic medical conditions</keyword> like arthritis and diabetes. These users tend to be older, more educated, and have higher incomes compared to those who do not use these supplements. Many turn to turmeric-containing products for joint health or arthritis, driven by the belief in turmeric's antioxidant and anti-inflammatory properties. However, multiple randomised clinical trials have shown no efficacy of turmeric-containing products in treating osteoarthritis. Similarly, despite widespread media attention, clinical research has found no significant impact of Garcinia cambogia on weight loss or green tea extract on overall health. A 2019 study using spectroscopic analysis further revealed discrepancies between the contents of these supplements and their labels, raising additional concerns about their safety. The safest approach to maintaining health is through a balanced diet that provides necessary nutrients. Supplements should only be used to address diagnosed deficiencies and under medical guidance. For those who choose to use herbal supplements, it is crucial to keep healthcare providers informed. This ensures that any adverse reactions can be promptly and effectively addressed. <div type="Article" hostid="261" msid="110365530" title="Is it time we stopped taking over-the-counter fish oil supplements?" mstype="2" mssubtype="0"></div>

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