The Indian #rupee touched its strongest level since April on Wednesday, shrugging off a broadly stronger dollar as foreign inflows into local stocks and price action in the non-deliverable forward market supported the currency.
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Indian-origin #KrishnaRao, chief financial officer of artificial intelligence startup #Anthropic, could see his stake in the #Claude chatbot maker valued at around $703 million as the company gears up for its much-anticipated initial public offering (IPO).
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Online stockbroking platform #Zerodha on Wednesday reported a technical issue affecting price updates in the futures and options (F&O) segment of the BSE, with the disruption affecting multiple brokers. The brokerage said it was coordinating with the stock exchange to resolve the issue. It subsequently confirmed that the problem had been fixed at 2:36 pm.
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Sharp Reversal
#Sensex falls 700 points from day's high, #Nifty near 25,200; pharma, IT slip in red
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#European shares opened higher on Wednesday and traded close to record levels, supported by upbeat forecasts from Siemens Energy and US-based artificial intelligence infrastructure company CoreWeave, which helped ease concerns about the outlook for AI-related investments. However, persistent inflation worries limited broader market gains, Reuters reported.
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Shares of automobile and electric vehicle companies gained on Wednesday, November 11, following the Centre's decision to make electric vehicles the default choice for staff-car procurement by government ministries and departments, while doubling the Net Dealer Price (NDP) ceiling for electric cars to Rs 20 lakh. Mahindra & Mahindra (M&M) and Ola Electric Mobility emerged among the top gainers in the sector, with the former leading the rally with an intra-day gain of nearly 5%.
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#DeutscheBank has launched its digital asset custody service for paying clients, Reuters reported on Wednesday, marking another step towards greater adoption of digital markets among European banks.
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#MichaelBurry is known for his bearish take on artificial intelligence-linked stocks, but the ‘Big Short’ investor dismissed worries around Nvidia following the controversy surrounding CEO #JensenHuang’s extramarital affair, calling the chipmaker a “heck of a trade”.
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Federal Reserve Vice Chair for Supervision Michelle Bowman on Tuesday highlighted persistent inflation as a key concern for US monetary policy, while stopping short of advocating further interest-rate increases. She said she expects price pressures to moderate next year as the impact of recent economic and geopolitical shocks fades.
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The overall level of troubled borrowing in the US economy increased modestly in the third quarter, although the latest figures do not point to a significant deterioration in credit quality, according to a report released by the Federal Reserve Bank of New York on Tuesday, Reuters reported.
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