Day: September 15, 2020

Indiabulls Housing gets rating boost from Brickwork
Stock News

Indiabulls Housing gets rating boost from Brickwork

NEW DELHI: Indiabulls Housing Finance on Tuesday said Brickwork Ratings has assigned short-term rating of A1 plus to the company, signifying adequate degree of safety and low credit risk. The rating agency has reaffirmed the long-term rating at AA plus, suggesting high degree of safety and very low credit risk, according to a regulatory filing. The rating committee of Brickwork Ratings has assigned short term rating at 'BWR A1+'. The long term rating has been reaffirmed at 'BWR AA+', the company said in the regulatory filing. The long term rating reaffirmation was on account of long-term liquidity position of the company, comfortable capitalisation, established market positions as one of the largest housing finance companies among others, it added. The Brickwork A rating to an issuer ...
Tactical Asset Allocation – September 2020
Investing

Tactical Asset Allocation – September 2020

Macro update We believe the global economy is healing, and we expect its upward growth trajectory to continue for the reminder of the year. Based on our macro regime framework, the global business cycle remains solidly in a recovery regime, with growth below trend and expected to improve over the next few months. The recovery is strengthening in its depth and breadth. Our leading economic indicators suggest growth is gaining momentum. Trade activity within Emerging Asia is rebounding strongly, providing further evidence the global manufacturing cycle is normalizing— supported by rebounding orders and demand in the developed world. Global market sentiment continues to improve, as evidenced by broad-based outperformance of risky assets over defensive assets in both equity and fixed income ...
Daily Market Outlook, September 15, 2020
Forex News

Daily Market Outlook, September 15, 2020

Daily Market Outlook, September 15, 2020 Asian equity market is mostly higher, although Japan is down. August readings for China industrial production, retail sales and fixed investment all beat expectations suggesting that its post-lockdown economic rebound is continuing. The minutes of the Australian central bank’s last policy meeting said that the economy’s recovery was likely to be uneven. They regard the Aussie dollar as fairly valued but think that a lower rate would provide support to the recovery. As expected the UK government won last night’s vote in the House of Commons on the Internal Market Bill despite a number of abstentions and two votes against the bill from Tory MPs. The legislation is likely to face further opposition next week when there will be a vote on an amendment ...
Fight fire with fire: MIT scholar suggests ETC counters 51% attacks
Crypto News

Fight fire with fire: MIT scholar suggests ETC counters 51% attacks

The recent 51% attacks on Ethereum Classic (ETC) have raised fresh questions about the security of proof-of-work blockchains. Not only has ETC been attacked three times within a month, but these assaults have been enabled with rented hashrate power. One of these attacks cost OKEx $5.6 million as it paid out its customers in full. The major cryptocurrency exchange then threatened to delist Ethereum Classic if it doesn’t improve its security soon.  Some questions being asked last week were: Is this problem unique to Ethereum Classic, or are all PoW blockchains vulnerable? Would regulating hashrate rental firms help? If not, what exactly can be done? Cointelegraph queried industry representatives for some answers. One interesting recommendation came from a research team at the Massac...
Electric truck maker Nikola’s shares fall as SEC reportedly examines short seller’s fraud claims
Business news

Electric truck maker Nikola’s shares fall as SEC reportedly examines short seller’s fraud claims

Trevor Milton CEO of Nikola Massimo Pinca | Reuters Shares of electric truck maker Nikola fell Tuesday after Bloomberg news reported that the U.S. Securities and Exchange Commission is looking into short seller claims that the company misled investors. Short seller Hindenburg accused Nikola founder Trevor Milton of making false statements about its technology in order to grow the company and partner with auto companies. The report, titled "Nikola: How to Parlay An Ocean of Lies Into a Partnership With the Largest Auto OEM in America," was released two days after the company announced a deal with General Motors that sent both companies' shares soaring. It characterized Nikola as an "intricate fraud built on dozens of lies" by Milton. The SEC is reportedly ...
What is the Wilshire 5000 Index?
Online Trading, Technical Analysis

What is the Wilshire 5000 Index?

When we hear “stock index,” we usually think of the S&P 500 or Dow Jones Industrial Average, and rightly so. Many prominent hedge fund managers refer to the S&P as their benchmark, and financial media like CNBC and Bloomberg discuss “the market” in terms of how these indices perform. But, did you know there’s a lesser-known index that Warren Buffett uses to gauge the performance of the “total market?” It’s called the Wilshire 5000. The Wilshire 5000 is a market cap-weighted stock index with roughly 3,400 U.S. based companies. The index aims to represent the entire US equity markets–from tiny $1M companies to $2T goliaths like Apple (AAPL). How Many Stocks Are in the Wilshire 5000? This might seem obvious, but it’s not. Despite the name, the Wilshire 5000 doesn’t contain 50...
Strong EU Data Props up Euro, Pound Neglects Rising Odds of No-deal Brexit
Forex News

Strong EU Data Props up Euro, Pound Neglects Rising Odds of No-deal Brexit

The dollar remains under pressure ahead of the Fed meeting, while it seems that risky assets are getting rid of fears of extension of the bearish pullback. As for the outcome of the meeting, a combination of revised economic forecasts and a promise to keep rates low for longer is likely to cause a rally in risky assets, but then the Fed will have to turn a blind eye to the risks of a stock market bubble. Signals of strengthening domestic demand in China and industrial production also supported optimism in market sentiment. In annual terms, industrial production in China increased by 0.4%, which, given the pandemic shock, indicates a very high recovery rate. In China, a rebound on all economic fronts USDCNY fell below 6.80, in addition, the USD is also declining against other Asian cur...
SpiceJet Q1 results: Reports net loss of Rs 593 crore; cargo revenue surges
Stock News

SpiceJet Q1 results: Reports net loss of Rs 593 crore; cargo revenue surges

NEW DELHI: SpiceJet on Tuesday posted a net loss of Rs 593.40 crore for the quarter ended June compared to a net profit of Rs 261.67 crore in the same period last year. Revenue from operations plunged 83.46 per cent YoY to Rs 483.34 crore during the quarter under review. The operations of airline companies were heavily affected during the quarter due to government orders. “This is the worst‐ever crisis to hit the aviation sector but I am pleased that SpiceJet continues to innovate and outperform the industry. Flight operations were suspended for most part of the quarter and the partial resumption of flights initially and the weak demand thereafter was a reminder of the significant problems that this pandemic has resulted in,” said Ajay Singh, Chairman and Managing Director, SpiceJet. T...
Don’t expect another Bitcoin price ‘catastrophic dump’ — Analyst
Crypto News

Don’t expect another Bitcoin price ‘catastrophic dump’ — Analyst

Bitcoin (BTC) price trajectory is looking to favor bulls going forward, statistician Willy Woo believes as the market nears $11,000. In a series of tweets on Sept. 14, Woo highlighted strength in market composition and said that current price levels could be a useful entry point for investors. Woo: Little chance of “catastrophic” BTC price dump “Another impulse of coins changing hands has completed, the next directional move over the coming weeks is likely upwards,” he summarized. “It’s very unlikely we’ll see any kind of a catastrophic dump in price from here.” Woo was referring to on-chain activity on the Bitcoin network seeing a spike in recent weeks as BTC/USD fell to local lows of $9,800.  Monday saw a bounce higher toward $10,800 — a price point that analysts have alr...
The IndeX Files 15-09-2020
Forex News

The IndeX Files 15-09-2020

Equities Traders Eye FOMC on Wednesday Global equities benchmarks have started the week in a broadly positive tone with risk assets trading higher ahead of the headline event risk this week. The US Federal Reserve meets for its September FOMC meeting tomorrow and the event is drawing plenty of market attention. While the Fed is not expected to adjust its policy at this stage, the market will be keen to learn any further details regarding the recently announced shift in inflation targeting. Fed chairman Powell announced at the recent Jackson Hole symposium in the US that the central bank will now allow inflation to run above its 2% target, instead looking for an average of 2% inflation, before making any upward rate adjustments. This development has raised the barrier in terms of rate hik...