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Stock Market LIVE Updates: Sensex rises 600pts; Nifty above 24,900; Nifty IT up 1%; SMIDs rise
11:41 AM
Stock Market LIVE Updates: Crypto market update: Here's how Bitcoin, Ethereum, others are faring today
Stock Market LIVE Updates: The crypto markets were showing signs of recovery after a recent correction attributed to ongoing geopolitical uncertainties. Bitcoin (BTC), the flagship digital asset, held firmly above the $106,400 level after briefly dipping to $103,200. Market analysts noted that investor confidence remains favourable, driven by consistent institutional inflows through Exchange Traded Funds (ETFs).
As of 10:45 AM on Monday, June 16, 2025, Bitcoin was trading at around $106,429.95, up 0.81 per cent. Over the past 24 hours, BTC moved within a range of $104,519.88 to $106,477.76, with a trading volume of $40.14 billion. Its market capitalisation stood at $2.11 trillion, retaining its position as the world's largest cryptocurrency by market value, according to CoinMarketCap.
11:25 AM
Stock Market LIVE Updates: MSCI rejig: Swiggy, Mazagon Dock among 4 entrants; $850 mn inflows likely
Stock Market LIVE Updates: Swiggy Ltd., Mazagaon Dock Shipbuilders Ltd., Hitachi Energy India Ltd. and Waaree Energies Ltd. are the four stocks that could be added to the MSCI Indexes in the upcoming review this August, according to JM Financial.
The MSCI India Standard Index rebalancing will be announced on August 7 after market hours, the brokerage said in a note. The August 2025 rejig may include up to four additions, drawing estimated inflows of $850 million, it added. The changes will take effect from August 27.
Swiggy is the only 'high' probable stock that could enter the global index aggregator's MSCI India Standard Index. The counter of the food delivery giant has recently come under focus as Rapido is gearing up to enter the food delivery space. Rapido is expected to charge a commission rate of 8-15 per cent from restaurant partners, which is significantly lower than Zomato and Swiggy's 21–22 per cent blended rates. READ MORE
11:07 AM
Stock Market LIVE Updates: Vi survival in doubt as govt rules out equity swap, plans payment relief
Stock Market LIVE Updates: The government is preparing a relief package for Vodafone Idea (Vi) but is facing concerns over the company's ability to stay afloat unless its pending spectrum usage charges are waived, according to a report by The Economic Times. There are no plans to convert any more of these dues into equity, as this would raise the government's stake in Vi beyond the current 49 per cent, the report said.
One idea is to let Vi clear its adjusted-gross-revenue (AGR) arrears over 20 years instead of the six-year window fixed after the Supreme Court ruling. 'Extending the tenure of AGR payments from the scheduled six annual instalments of ₹18,064 crore to over 20. Despite this, the long-erm sustainability of the company remains in doubt,' an official said, as quoted by the report. READ MORE
10:33 AM
Stock Market LIVE Updates: Benchmarks at day's high, SMIDs recover
Stock Market LIVE Updates: Equity markets are volatile today witht the BSE Sensex and the NSE Nifty50 swinging between gains at losses, At 10:30 AM, BSE Sensex was at 81,42, up 333 points or 0.41 per cent.
The Nifty50, on the other hand, was at 24,851, up 133 points or 0.54 per cent. This was the highest level for both the indices, so far, in the trade.
In the broader markets, the Nifty MidCap, and SmallCap indices were trading up to 0.23 per cent lower after falling over 1 per cent earlier today.
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News18
an hour ago
- News18
From Rs 5,000 To Rs 40,000 Crore: Why Rakesh Jhunjhunwala Is Called The 'Big Bull' Of Dalal Street
Last Updated: In the early 2000s, he purchased Titan Company shares at Rs 30-Rs 40 apiece and the investment eventually delivered returns of over Rs 15,000 crore Rakesh Jhunjhunwala, fondly called the 'Big Bull' of Dalal Street, transformed a modest investment of just Rs 5,000 into a fortune exceeding Rs 40,000 crore, leaving behind one of the most inspiring legacies in the stock market history. Born on July 5, 1960, in Mumbai to a middle-class Marwari family, Jhunjhunwala grew up watching his father, an Income Tax Department officer, discuss the stock market with friends. Those conversations ignited his curiosity about equities. On his father's advice, he began reading newspapers daily to sharpen his understanding of business and market trends. Although he qualified as a chartered accountant after studying at Sydenham College, Jhunjhunwala shunned the security of a stable job. Instead, he plunged into the volatile world of stocks. His first investment, funded by borrowing Rs 5,000 from his brother, marked the beginning of a remarkable journey. In 1986, he took a bold gamble, raising additional capital from market experts at steep interest rates. His maiden big win came with Tata Tea, bought at Rs 43 a share, it surged to Rs 143 within three months, netting him about Rs 5 lakh. He followed this with smart bets on Tata Power and Sesa Goa. But his most iconic move came in the early 2000s, when Titan Company was struggling. Trusting the brand's long-term potential, he purchased shares at Rs 30-Rs 40 apiece, an investment that eventually delivered returns of over Rs 15,000 crore. 'Always go against the crowd. Buy when everyone is selling and sell when everyone is buying," Jhunjhunwala's simple yet powerful mantra became synonymous with his investing style. Through his firm RARE Enterprises, named after himself and his wife Rekha, he invested in several market leaders, including Star Health, Metro Brands, Tata Motors and CRISIL. From the 1992 securities scam to the 2008 global financial crisis, Jhunjhunwala demonstrated an uncanny ability to identify resilient companies during turbulent times. In 2021, he ventured into aviation with Akasa Air, which became the world's fastest-growing airline within a year. By the time of his passing in 2022, the Sensex had crossed the 59,000 mark, up by 150 points. In 2023, he was posthumously awarded the Padma Shri. Stay updated with all the latest business news, including market trends, stock updates, tax, IPO, banking finance, real estate, savings and investments. To Get in-depth analysis, expert opinions, and real-time updates. Click here to add News18 as your preferred news source on Google. Also Download the News18 App to stay updated. view comments First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Indian Express
3 hours ago
- Indian Express
Why US Fed decided to stop crypto-focused supervision of banks introduced after Silicon Valley Bank collapse
In a fresh boost for cryptocurrency popularisation in America, the US Federal Reserve on Friday withdrew its Novel Activities Supervision Program which was unveiled in the aftermath of the collapse of cryptocurrency exchange FTX and its domino effect on three lenders — Silicon Valley Bank (SVB), Signature Bank and Silvergate Bank in 2023. The Fed on Friday announced that it will 'sunset its novel activities supervision program and return to monitoring banks' novel activities through the normal supervisory process.' The move follows a series of pushes from the Trump administration — from the GENIUS Act to promote stablecoins (dollar backed cryptocurrencies) to an executive order allowing the investment of 401K retirement corpus in alternative assets including crypto coins. Bitcoin prices stood in red down over 1 per cent to $117,720.50 apiece on Saturday at 11:32 am IST. Ethereum's price was also down 4.55 per cent to $4,428.47 apiece from the previous day's close, according to data from Bitcoin and Ethereum prices neared record highs on Wednesday after US Treasury Secretary Scott Bessent said in an interview to Bloomberg that the Fed should cut rates by around 50 basis points in September, since economic analysis indicates they should have been already cut by 150-175 basis points. Analysts stated that the rally in the two leading cryptocurrencies may taper off on potential profit booking by participants. The US Fed stated it had started the novel activities supervision programme to gain knowledge of banks' crypto-related and fintech activities. 'Since the Board started its program to supervise certain crypto and fintech activities in banks, the Board has strengthened its understanding of those activities, related risks, and bank risk management practices,' it said. The US central bank decided to scrap this specialised supervision and merge it with its 'standard supervisory process' for banks and financial institutions, the Fed added. This marks a change in stance from 2023 when the Fed in a joint statement with the US Federal Depository Insurance Corporation (FDIC) — which backstops bank deposits — said 'the agencies believe that issuing or holding as principal crypto-assets that are issued, stored, or transferred on an open, public, and/or decentralised network, or similar system is highly likely to be inconsistent with safe and sound banking practices.' Apart from the above order, the Fed also withdrew a joint guidance with FDIC flagging risks to banks from crypto-related deposits, in which they stated that crypto-related entities and stablecoin-related reserves were vulnerable to the confidence in these assets and susceptible to rapid outflows, making them highly volatile deposits. Previous orders requiring banks to seek the Fed's permission for dealing in crypto assets and stablecoin issuance were also withdrawn on Friday. The Fed's intervention focused on how banks deal and interact with cryptocurrencies was prompted by the collapse of the crypto exchange FTX led by Sam Bankman Fried (SBF), which triggered the collapse of three lenders, most importantly, Silicon Valley Bank. To be sure. SVB's decline was primarily guided by risky investments in short-term securities. However, along with Signature Bank and Silvergate Bank, SVB had exposure to crypto investors, which prompted the Fed's specific supervision of banks. The FTX exchange collapse, in which SBF was accused of channelling depositors' funds to invest in the cryptocurrency Luna which was used to prop up the TerraUSD stablecoin. Amid a mass Terra USD sell off, FTX and related entities gradually caved in owing to a loss of liquidity as well as allegations of fraud. Signature Bank and Silvergate Bank collapsed owing to their balance sheet exposure to FTX which led to a liquidity crunch amid panicked withdrawals by customers. These lenders also faced significant market sell offs, further squeezing their liquidity sources, leading to a bank run. SVB sold short-term Treasuries at a loss which squeezed its balance sheet amid a rise in withdrawals. It issued bonds to raise funds for meeting customer withdrawals, which triggered a spiral as spooked investors sold its stock and customers doubled down on withdrawals, leading to a bank run. SVB's practices were guided by funding requirements from the tech and crypto sector which turned to banks after funding from venture capital and private equity firms drifted up post pandemic, according to University of Washington Law Professor Anita Ramasastry.
Mint
3 hours ago
- Mint
Did Swiggy increase their platform fee from ₹12 to ₹14? Report reveals...
India food delivery aggregator Swiggy had raised its platform fee from ₹ 12 to ₹ 14 in certain pockets only on 15 August due to increase in demand of orders, people familiar with the development told However, as of 16 August, the platform fee remains ₹ 12 across India. A platform fee is a charge that a company like Swiggy, Zomato, or Uber adds to each transaction to cover the cost of maintaining and operating its platform. The platform fee of Rs14 per food delivery order was inclusive of Goods and Services Tax (GST), the Economic Times reported. In comparison, Zomato applies a platform fee of ₹ 10, excluding GST. Swiggy was the first to introduce this fee in April 2023, starting at ₹ 2, and has gradually increased it to ₹ 12 (pre-GST) as part of its strategy to strengthen unit-level profitability. Zomato adopted a similar approach, though its most recent fee revision occurred in October 2024. While these fees represented a small portion of the typical ₹ 500– ₹ 600 order value seen on food delivery platforms, they significantly contributed to improving overall profit margins for the companies, the ET report said. In the April–June period, Swiggy's net loss soared to ₹ 1,197 crore, double the figure from the same quarter last year. The company also reported a net cash outflow of ₹ 1,053 crore after accounting for its operating, investing, and financing activities, ET report mentioned. Despite the deepening losses, Swiggy saw a 54% year-on-year growth in operating revenue, which reached ₹ 4,961 crore. Amid this, new competition is emerging in the food delivery space. Ride-hailing firm Rapido has launched Ownly, its own food delivery platform, which is currently operational in select areas of Bengaluru, including Koramangala, HSR Layout, and BTM Layout. Ownly aims to challenge established players like Swiggy and Zomato by offering lower commission rates to restaurant partners between 8% and 15%, compared to the 16% to 30% typically charged by the incumbents.
