India's Stock Market Rebound Is Blowing Past Technical Barriers
They Built a Secret Apartment in a Mall. Now the Mall Is Dying.
Why Did the Government Declare War on My Adorable Tiny Truck?
Chicago Transit Faces 'Doomsday Scenario,' Regional Agency Says
LA Faces $1 Billion Budget Hole, Warns of Thousands of Layoffs
Libraries Warn They Could Be 'Cut off at the Knees' by DOGE
The rally in Indian equities this month has steamrolled through numerous technical indicators as it gains momentum.
The NSE Nifty 50 Index has risen more than 7% this month. Its 14-day relative strength index - a measure of the magnitude of recent price changes - has taken just 14 sessions to move from oversold to overbought territory, its fastest pace on record. A score below 30 is considered oversold and above 70 overbought.
Until recently, India was one of Asia's worst-performing markets. But optimism is growing over the economy, as well as the central bank's recent efforts to add liquidity. Interest rates are expected to fall, and Indian authorities are working to seek an exemption from President Donald Trump's reciprocal tariffs. Foreign investors bought $515 million of shares last week.
The Nifty 50 erased its losses for the year on Monday and is just 1% away from the closely followed 200-day moving average. It crossed the 100-day measure, which has acted as both support and resistance over the last year, on Monday.
It isn't just large caps that are benefiting. The NSE Nifty Smallcap 250 Index has rallied 10% from early March lows. The index has broken out above the bullish inverted head and shoulders pattern.
Technical analysts see the setup as an indication of bearish pressures waning and bulls taking over. The rally has been swift, but the index still needs to gain around 5% from current levels to achieve its target.
The Richest Americans Kept the Economy Booming. What Happens When They Stop Spending?
Google Is Searching for an Answer to ChatGPT
A New 'China Shock' Is Destroying Jobs Around the World
How TD Became America's Most Convenient Bank for Money Launderers
Tesla's Gamble on MAGA Customers Won't Work
©2025 Bloomberg L.P.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
11 minutes ago
- Yahoo
Trump narrows Fed chair candidates to four, excluding Treasury Secretary Bessent
WASHINGTON (AP) — President Donald Trump said Tuesday that he's whittled down his list of potential Federal Reserve chair candidates to four as he considers a successor to Jerome Powell — a choice that could reset the path of the U.S. economy. Asked on CNBC's 'Squawk Box' for a future replacement to Powell, Trump named Kevin Hassett, director of the National Economic Council, and Kevin Warsh, a former member of the Federal Reserve Board of Governors. 'I think Kevin and Kevin, both Kevins, are very good,' Trump said during an interview on CNBC's 'Squawk Box.' He said two other people were also under consideration, but Treasury Secretary Scott Bessent is not among them. 'I love Scott, but he wants to stay where he is," Trump said. He did not name his other two top candidates but used the opportunity to disparage Powell, whom he has dubbed 'too late' in cutting interest rates. The news that Trump plans to make a decision on the Fed chair 'soon' comes as the Republican president has been highly critical of current Powell, whose term ends in May 2026. Trump recently floated having the Fed's board of governors take full control of the U.S. central bank from Powell, whom he has relentlessly pressured to cut short-term interest rates in ways that raise questions about whether the Fed can remain free from White House politicking. Trump has openly mused about whether to remove Powell before his tenure as chair ends, but he's held off on dismissing the Fed chair after a recent Supreme Court ruling suggested he could only do so for cause rather than out of policy disagreements. The president has put pressure on Powell by claiming he mismanaged the Fed's $2.5 billion renovation project, but he's also said that he's 'highly unlikely' to fire Powell. One of the Fed's governors, Adriana Kugler, made a surprise announcement last Friday that she would be stepping away from her role. That created an opening for Trump, who called her departure 'a pleasant surprise,' to name a new Fed governor. Trump told CNBC it's 'a possibility' that his pick to replace Kugler could also be his choice to replace Powell. Here's what to know about the two known candidates: Kevin Hassett Hassett, director of the White House National Economic Council, has been supportive of the president's agenda — from his advocacy for income tax cuts and tariffs to his support of the recent firing of BLS Commissioner Erika McEntarfer. Hassett served in the first Trump administration as chairman of the Council of Economic Advisers. He has a doctoral degree in economics from the University of Pennsylvania and worked at the right-leaning American Enterprise Institute before joining the Trump White House in 2017. As part of Hassett's farewell announcement in 2019, Trump called him a 'true friend' who did a 'great job.' Hassett became a fellow at the Hoover Institution, which is located at Stanford University. He later returned to the administration to help deal with the pandemic. On CNBC on Monday, Hassett said 'all over the U.S. government, there have been people who have been resisting Trump everywhere they can." Kevin Warsh A former Fed governor who stepped down in 2011, Warsh is currently a fellow at the Hoover Institution. He has been supportive of cutting interest rates, a key goal of Trump's. 'The president's right to be frustrated with Jay Powell and the Federal Reserve,' Warsh said on Fox News' 'Sunday Morning Futures' last month. Warsh has been increasingly critical of Powell's Federal Reserve and in July, on CNBC, called for sweeping changes on how the Fed conducts business as well as a new Treasury-Fed accord 'like we did in 1951, after another period where we built up our nation's debt and we were stuck with a central bank that was working at cross purposes with the Treasury.' He said the Fed's 'hesitancy to cut rates, I think, is actually quite a mark against them.' 'The specter of the miss they made on inflation" after the pandemic, he said, "it has stuck with them. So one of the reasons why the president, I think, is right to be pushing the Fed publicly is we need regime change in the conduct of policy.' 'He's very highly thought of,' Trump said in June when asked directly about Warsh. ___ Associated Press writers Josh Boak and Christopher Rugaber in Washington contributed to this report. Fatima Hussein, The Associated Press
Yahoo
11 minutes ago
- Yahoo
Trump Says Big Banks "Debanked" Him -- Now He's Firing Back
President Donald Trump says two of America's biggest banks turned their backs on him and he's not letting it slide. In a CNBC interview, Trump accused JPMorgan (NYSE:JPM) of demanding he close accounts held for decades and claimed Bank of America (NYSE:BAC) refused to accept a $1 billion deposit. "I ended up going to small banks all over the place," Trump said. He believes banking regulators were weaponized against him under the Biden administration and now says his team is preparing an executive order that would force federal agencies to investigate account closures rooted in political bias. Warning! GuruFocus has detected 6 Warning Sign with BAC. The banks pushed back. JPMorgan said it doesn't close accounts for political reasons and supports regulatory change. Bank of America said it serves 70 million clients and doesn't apply any political litmus test, though it acknowledged that government regulations sometimes lead to ending client relationships. Capital One, meanwhile, is in a legal battle with the Trump Organization over hundreds of accounts allegedly closed for political reasons in 2021 a claim the bank denies, citing contractual terms that allowed the closures for any reason. A judge has delayed the case as Capital One moves to dismiss. Behind all this is one key risk factor: reputation. Federal regulators, including the Fed, are now moving to drop "reputation risk" from bank exams a factor many lenders say pressured them to cut ties with certain clients. The banking industry is watching closely, with groups like the Bank Policy Institute hoping a forthcoming order will rein in what they call supervisory overreach. The issue isn't just American. In the UK, political figure Nigel Farage's bank account was closed by NatWest's Coutts unit sparking backlash, resignations, and a wider review. Trump's move could now fuel a broader reckoning with how banks decide who gets to stay and who gets shut out. This article first appeared on GuruFocus.
Business Insider
13 minutes ago
- Business Insider
How to buy Pepe coin: A step-by-step guide to getting started in 2025
One of the most popular meme coins — and the 31st largest cryptocurrency by market cap on CoinGecko — is Pepe coin (PEPE). This coin was inspired by the "Pepe the Frog" meme, which comes from a character originally created for a comic series in 2005. In the mid-2010s, leading up to Donald Trump's first election, Pepe turned into a meme in part by being adopted in political circles, including the alt-right. However, this was not the creator's original intention. In April 2023, Pepe Coin launched as a meme coin running on the Ethereum network. It then quickly became one of the top meme coins among crypto investors, in part due to the Pepe meme's popularity on social media platforms like X (formerly Twitter), Reddit, and Telegram communities. Meme coins can be riskier than other types of crypto or other investments. Much of the value is subjective, similar to how collectibles like Beanie Babies might sometimes be highly valued by others, while at other times, they hold little market value. Still, if you're planning to buy, here is a step-by-step guide to buying Pepe coin. Where to buy Pepe coin in 2025 There are several places to buy Pepe coin, depending on your preferences. Some options include: Centralized and decentralized exchanges to buy Pepe coin You can buy Pepe coin through several of the most popular crypto exchanges, such as Kraken and Gemini. The steps to buy Pepe depend on the exchange, starting with following their KYC (know your customer) protocols, if applicable. On some exchanges, like KuCoin, Pepe is traded in pairs, e.g., PEPE/USDT. Pepe coin can also be bought on DEXs (decentralized exchanges) such as Uniswap. The pairs used for swapping Pepe coin vary by the decentralized exchange and what other investors are offering. The process for trading on DEXs can be more complex and riskier than a centralized exchange, but you can gain benefits like more control and privacy. Typically, the process involves connecting a non-custodial wallet like Best Wallet so you can trade your crypto assets for Pepe coin. Double-check that you're using the right contract address to ensure that you're trading the assets you intended. P2P marketplaces and swap services For even more direct control, but perhaps risks like less oversight/security, you can use peer-to-peer marketplaces and token swap platforms to directly exchange your tokens, like swapping ETH for PEPE. How to buy Pepe coin step by step While the exact steps to buy Pepe coin vary based on where you make the transaction — e.g., a centralized vs. decentralized exchange — the general steps include the following: 1. Set up a crypto wallet Generally, you need a crypto wallet to trade crypto assets, including Pepe coin. These wallets hold private keys, which are passwords that let you access your crypto holdings living on blockchains. If buying through an exchange, you might use that exchange's hosted wallet, or you might use a self-custody wallet. The choice can depend on factors such as your security and control preferences. Some popular crypto wallets include Best Wallet, MetaMask, and Trust Wallet, with the choice depending on factors like the projects you want to buy into and your custody preferences. When setting up a wallet, make sure you secure your seed phrase (which acts as a recovery password), and consider other best practices like two-factor authentication. 2. Buy ETH or USDT first, if needed While you can sometimes buy assets like PEPE through exchanges directly with US dollars or other fiat currencies, you often need to buy a commonly used cryptocurrency first, such as ETH or USDT. Once you transfer that commonly used crypto into your wallet, you can then exchange it for PEPE, such as on some DEXs or swap platforms. 3. Choose an exchange/platform to buy Pepe coin As mentioned, there are several places where you can buy Pepe coin. If using an exchange like Coinbase, you'll need to create an account first, or you can connect your wallet to a DEX or swap platform to start trading. Be sure to compare factors such as what pairs you can trade, as well as things like slippage and gas fees. Double-check that you're using the right wallet address before executing the trade, too. 4. Store Pepe coin safely Don't overlook the importance of safely storing Pepe coin or any other crypto after purchase. If buying through an exchange, some people leave their coins on the exchange's hosted wallet for simplicity, and perhaps you're more confident in its ability to safeguard your assets. That said, many people recommend not leaving coins on exchanges and instead keeping them in your own wallet or transferring them to cold storage (meaning a non-internet-connected wallet). That way, if an exchange is hacked, you're generally not at risk of losing your Pepe coins. Be sure to review token contracts closely to ensure you're getting what you intended rather than buying scam coins, and watch out for airdrop scams. FAQs Can I buy Pepe coin without ID You can buy Pepe coin without ID on several DEXs. However, check the rules and reputation of a platform before engaging on it. What network is Pepe coin on? Pepe runs on the Ethereum network and is an ERC-20 token. How can I store Pepe coin securely? Crypto security is somewhat subjective, but some common best practices to store Pepe coin securely include choosing a reputable wallet where you can store the private keys to access Pepe coin and establishing two-factor authentication for your wallet. Make sure you understand whatever option you choose, such as a hot versus cold wallet, so you can avoid falling victim to a scam.
