Retail investors increased their stakes in Adani Group companies between December 2022 and September 2024, exposing them to the recent $30 billion selloff following bribery allegations. This risk-taking behavior mirrors their actions after the Hindenburg report, where they profited from the subsequent rebound. While retail investors viewed Adani firms as tied to India’s growth, institutional and overseas investors remained cautious.
Posts in category Economic Times
Japan’s Nikkei slides as market reacts to Trump’s fresh tariff vows (26-11-2024)
Japan’s Nikkei share average tumbled over 1% on Tuesday, reacting to U.S. President-elect Donald Trump’s proposed tariffs. Trump announced plans to impose a 25% tariff on goods from Mexico and Canada, and a 10% tariff on Chinese goods, citing immigration and drug trade concerns. Most Nikkei constituents declined, with IHI Corp, Fujikura, and Kawasaki Heavy Industries experiencing the largest losses.
Markets react to Trump’s tariff promise (26-11-2024)
President-elect Trump announced plans to impose tariffs on goods from Mexico, Canada, and China on his first day in office, triggering market reactions. The dollar rallied, while Asian and European markets declined. Experts offered mixed views, some seeing it as a negotiating tactic, others expressing skepticism about its effectiveness.
Dollar gains after Trump vows tariffs against Mexico and Canada (26-11-2024)
President-elect Trump announced tariffs on Mexican and Canadian goods, boosting the U.S. dollar. He also threatened tariffs on Chinese products due to drug trafficking concerns. These announcements overshadowed the positive market reaction to his Treasury secretary pick, Scott Bessent. Bitcoin retreated from its near-$100,000 peak.
Gold falls further on stronger dollar, easing geopolitical tensions (26-11-2024)
Gold prices tumbled to their lowest in over a week. A stronger dollar and ceasefire reports between Israel and Hezbollah impacted investor interest. Trump’s tariff threats boosted the dollar. Traders await US economic data including consumer confidence and Fed minutes. Spot gold fell, while gold futures saw a slight rise. Silver, platinum, and palladium also declined.
Wall Street closes higher; small-caps hit record high after Trump nominates Bessent (26-11-2024)
US stock markets rallied. The Russell 2000 reached a record high. Bessent’s Treasury nomination eased fiscal worries. Israel-Lebanon ceasefire talks lowered oil prices. Small-cap and mid-cap stocks outperformed. Experts predict further S&P 500 growth. Investors await inflation data and the Fed’s December meeting decision.
Dollar rallies, stocks retreat after Trump vows tariffs (26-11-2024)
“It’s almost as if Trump wants to remind markets who is in control, after nominating Scott Bessent as Treasury Sec – a man markets expected to cool Trump’s potency,” said Matt Simpson, senior market analyst at City Index.
Stocks in news: HUL, Zomato, Adani Enterprises, Wipro, LT Foods, Power Grid (26-11-2024)
FMCG major Hindustan Unilever (HUL) board has given its in-principle approval for demerging its ice cream business into a separate listed entity.
Hindujas in talks to raise 2nd tranche of Rs 4,300 crore (26-11-2024)
The first tranche amounting to ₹3,000 crore was raised from Barclays and 360 One in September, as reported by ET. The second round had been delayed pending approval from the Department for Promotion of Industry and Internal Trade (DPIIT), people cited above said.