Day: September 20, 2020

Trade setup: Stay cautious till Nifty crosses past 11,430 level
Stock News

Trade setup: Stay cautious till Nifty crosses past 11,430 level

Gains fizzled out in the last hour-and-a-half of Friday’s session, as Nifty not only turned downward, but also saw wide swings on either side. The market showed a strong and positive start to the session. The beginning was better than expected. The good thing was, Nifty maintained those opening gains through most part of the session. It was the last hour-and-a-half that saw the entire day’s hard work wiped out. Nifty not only gave up all its gains, but also slipped into the negative territory. The index came off over 100 points from the high point. However, some recovery was seen, and the headline index ended the day with a nominal loss of 11.15 points, or 0.10 per cent. From a technical perspective, the previous one was one of the important sessions. Nifty formed an Engulfing Bearish Can...
Gibraltar updates DLT framework to comply with FATF rules
Crypto News

Gibraltar updates DLT framework to comply with FATF rules

The Gibraltar Financial Services Commission (GFSC) has updated its regulations governing the operation of distributed ledger technology (DLT) providers to include the latest Financial Action Task Force (FATF) rules.  The GFSC said this is in response to blockchain’s fast-moving nature, especially as the agency seeks to support companies while protecting consumers. The updated guidance notes includes the latest FATF recommendations around virtual asset service providers (VASP) and the ‘Travel Rule,’ which requires VASPs to collect and transfer customer information in transactions. GFSC recommends considering “virtual assets as ‘property,’ ‘proceeds,’ ‘funds,’ ‘funds or other assets,’ or other ‘corresponding value.’” Under GFSC’s guidance, VASPs are required to capture and maintain...
Murkowski becomes 2nd GOP senator to oppose a vote on Trump Supreme Court nominee before election
Business news

Murkowski becomes 2nd GOP senator to oppose a vote on Trump Supreme Court nominee before election

U.S. Sen. Lisa Murkowski (R-AK) arrives at a weekly Senate Republican Policy Luncheon at Hart Senate Office Building August 4, 2020 on Capitol Hill in Washington, DC. Alex Wong | Getty Images News | Getty Images Alaska Sen. Lisa Murkowski said on Sunday that she will not support President Donald Trump's nomination of a replacement to fill the vacancy on the Supreme Court left by the passing of Justice Ruth Bader Ginsburg before Election Day. The announcement makes Murkowski the second Republican in the Senate, after Susan Collins of Maine, to announce her opposition to filling Ginsburg's seat before Nov. 3. Murkowski's position narrows the path for Trump and Senate Majority Leader Mitch McConnell to place Ginsburg's successor before voters decide whether Trump will hold the Whi...
Improving execution may generate Street’s interest in construction stocks
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Improving execution may generate Street’s interest in construction stocks

ET Intelligence Group: In the past one month, the ET Construction Index has fallen 8.5% while the benchmark index Nifty 50 index has gained 1.15%. The ET Construction Index has underperformed the Nifty 50 index in the past three and six months also. So, could there be triggers which can generate investor interest in construction stocks in the coming months? Analysts point out two fundamental triggers. One, in the third quarter of this financial year, state governments will start awarding incremental projects. This should boost construction companies’ order book. This incremental awarding will come after the National Highways Authority of India (NHAI) awarded road projects for 744 km more contracts in April-August period than 516 km on average in the corresponding period of the previous t...
Understanding the landscape of decentralized finance
Crypto News

Understanding the landscape of decentralized finance

It is no longer news that decentralized finance provides crypto holders with a myriad of opportunities to earn passive income. While this is a known fact, I believe that it does not tell the whole story. Although DeFi’s narrative has successfully captured the attention of crypto investors, there are not enough educational materials out there that encapsulate the workings of the growing horde of protocols responsible for DeFi’s astronomical rise as the new “poster child” of the crypto market. Some argue that the fast-paced nature of this emerging sector makes it almost impossible to identify and track income-generating opportunities. Conversely, others blame the intricate concepts associated with DeFi. I recently had the opportunity to talk to Viktor Radchenko, founder of Binance’s Tru...
Trump agrees to deal in which TikTok will partner with Oracle and Walmart
Business news

Trump agrees to deal in which TikTok will partner with Oracle and Walmart

President Donald Trump said Saturday he has approved a deal in principle in which Oracle and Walmart will partner with the viral video-sharing app TikTok in the U.S., allowing the popular app to avoid a shutdown. "I have given the deal my blessing — if they get it done that's great, if they don't that's okay too," Trump told reporters on the White House South Lawn before departing for North Carolina. "I approved the deal in concept." The U.S. Department of Commerce announced it would delay the prohibition of U.S. transactions with TikTok until next Sunday. Shortly after Trump's comments, Oracle announced it was chosen as TikTok's secure cloud provider and will become a minority investor with a 12.5% stake. TikTok confirmed Oracle's role and said it was working with Walm...
Bitcoin price volatility expected as 47% of BTC options expire next Friday
Crypto News

Bitcoin price volatility expected as 47% of BTC options expire next Friday

The open interest on Bitcoin (BTC) options is just 5% short of their all-time high, but nearly half of this amount will be terminated in the upcoming September expiry.  Although the current $1.9 billion worth of options signal that the market is healthy, it’s still unusual to see such heavy concentration on short-term options. By itself, the current figures should not be deemed bullish nor bearish but a decently sized options open interest and liquidity is needed to allow larger players to participate in such markets.  Total BTC options open interest. Source: Skew Notice how BTC open interest has just crossed the $2 billion barrier. Coincidentally that’s the same level that was achieved at the past two expiries. It is normal, (actually, it’s expected)  that this number...
Stagflation worries haunt India: What is it & how it really hurts?
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Stagflation worries haunt India: What is it & how it really hurts?

Inflation is often considered as an economic villain. By definition, inflation refers to the general rise in the price level in an economy. An increase in inflation leads to a fall in the purchasing power of a currency as the commodities and prices gets dearer. In simple words, we would be able to purchase only fewer items for the same money. The impact would be far greater when rising inflation is accompanied with a stagnant output. In such a scenario, the economy would be facing the situation of ‘stagflation’. In the mid-1970s, the oil price shock had pushed many economies into stagflation. Stagflation is a very risky affair, as there is no consensus on the policy mix needed to deal with the situation. For instance, on the wake of a falling aggregate output, the immediate policy respo...
Trump wants to move ‘without delay’ to replace Ginsburg, setting up epic fight over Supreme Court
Business news

Trump wants to move ‘without delay’ to replace Ginsburg, setting up epic fight over Supreme Court

U.S. President Donald Trump waves prior to boarding Air Force One as he departs Washington for campaign travel to Minnesota at Joint Base Andrews, Maryland, September 18, 2020. Tom Brenner | Reuters President Donald Trump on Saturday said he wants to move "without delay" to replace Supreme Court Justice Ruth Bader Ginsburg with a conservative nominee, setting up an epic battle over the balance of power on the nation's highest judicial body and the shape of American law for a generation to come as the country enters the final phase of the 2020 presidential campaign. Trump, in a social media post, wrote that Republicans "were put in this position of power and importance to make decisions for the people who so proudly elected us, the most important of which has long been considered...
Ethereum Classic partners with ChainSafe and OpenRelay to prevent more 51% attacks
Crypto News

Ethereum Classic partners with ChainSafe and OpenRelay to prevent more 51% attacks

As it grapples with multiple security breaches, Ethereum Classic Labs has partnered with ChainSafe and OpenRelay in hopes of increasing its defenses against 51% attacks.  In a post, Ethereum and its Core Dev Team will work with both ChainSafe and OpenRelay to develop and test security responses.  James Wo, founder and chairman of Ethereum Classic Labs, said the partnership makes sense:  “OpenRelay and ChainSafe are both well acquainted with Ethereum Classic, through working together, will have some of the most brilliant minds in blockchain tackling the 51% problem in tandem. The team-up will bring additional expertise in Proof-of-Work security systems and testing environments.” OpenRelay will help Ethereum to “develop practical simulations and models for the proposed f...