Bharti Airtel shares surged nearly 6% on November 29, becoming the top gainer on the Nifty 50, following an upgrade to 'Buy' by ICICI Securities, which set a target price of Rs 1,875. The stock has risen 62% year-to-date, significantly outperforming the Nifty 50's 10% increase. This recovery contrasts sharply with its previous derating phase from FY11 to FY20, marked by challenges such as the entry of Reliance Jio and costly acquisitions.
EVOTEC's CEO Craig Johnstone will depart at the end of the year, leaving the management position vacant. His responsibilities will be temporarily reassigned as the company undergoes a strategic review. This announcement follows a 2.43 percent drop in the company's shares to EUR 8.83.
09:26 29.11.2024
RWE shares have repeatedly approached the long-term 200-day line, facing resistance. Recent attempts to break out were followed by a drop to EUR 30.47, testing key support levels. A successful break above the trend lines could lead to targets of EUR 32.81 and higher, while falling below EUR 31.25 may trigger further declines.
09:26 29.11.2024
The EUR/USD exchange rate has plummeted from $1.12 to a two-year low of $1.04, driven by weak inflation data and political uncertainty in Europe. A potential bullish reversal may be on the horizon if the euro breaks above $1.06, targeting $1.0850, while a drop below $1.04 could lead to further declines.
IG
09:23 29.11.2024
India is set to expand electric vehicle (EV) manufacturing incentives, allowing automakers to qualify for benefits at existing factories rather than only new plants. A minimum revenue target will be established to ensure fairness among manufacturers. The revised policy aims to attract investments from companies like Toyota and Hyundai, following Tesla's withdrawal from local manufacturing plans.
The Swiss economy experienced a slowdown in the third quarter, with a 1.3 percent growth year-on-year, as reported by SECO. While trade, construction, and consumption contributed positively, the industrial sector, particularly chemicals and pharmaceuticals, faced significant challenges, leading to a quarterly growth of only 0.2 percent.
rsi
Japan's economy could have faced years of deflation starting in 2016 without the Bank of Japan's extensive monetary stimulus program, according to a study by the central bank. The research indicates that price growth would have dipped into negative territory until around 2022 without this unconventional policy.
Gérard Wertheimer, co-owner of Chanel, remains the richest person in Switzerland with a fortune of CHF37 billion, despite a decline due to a slowdown in the luxury sector. The Hoffmann, Oeri, and Duschmalé family follows in second place with CHF28-29 billion, while Klaus-Michael Kühne ranks third with CHF27-28 billion. The Blocher family has seen their wealth grow to CHF15-16 billion, and Guillaume Pousaz rounds out the top ten with CHF14-15 billion.
India's sovereign bonds are facing their first monthly outflow since joining JPMorgan's bond index, with overseas investors cutting holdings of Fully Accessible Route bonds by 77.3 billion rupees ($910 million) as of November 28. This decline follows a narrowing yield differential with US Treasuries, which dropped to 2.39 percentage points, the smallest gap in over a year, amid rising US inflation speculation and elevated yields due to the Federal Reserve's stance on interest rates.
Indian equity markets rebounded sharply on November 29, with the BSE Sensex rising 789 points to 79,832 and the NSE Nifty gaining 239 points to 24,153. This rally was fueled by strong domestic buying, attractive valuations following recent corrections, and renewed confidence in India's growth story. Market breadth was positive, with 1,904 shares advancing against 1,460 declining.

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