Author: Legal Parivar

The benchmark Sensex and Nifty indices are expected to open positively today, with trends in the GIFT Nifty indicating a higher start for the broader index with a gain of 71 points. In the previous session on April 3, the Indian market closed flat amidst high volatility. The Sensex ended down 27.09 points, while the Nifty was down 18.6 points. According to the pivot point calculator, the Nifty 50 may encounter resistance at levels of 22,501, 22,542, and 22,609, while immediate support levels are seen at 22,367, 22,326, and 22,260. In global markets, the S&P 500 and Nasdaq closed higher…

Amazon Web Services (AWS) announced on Wednesday that it has cut several hundred roles in sales, marketing, and technology, following a series of job cuts by its parent company, Amazon.com. The affected positions include several hundred roles in AWS’ sales, marketing, and global services division, as well as the physical stores technology team, according to a statement from the cloud-computing arm of Amazon. An AWS spokesperson stated via email, “We’ve identified a few targeted areas of the organization we need to streamline.” In recent months, Amazon has laid off hundreds of employees across various divisions, including Prime Video, its healthcare…

Disney shareholders have voted to support Chief Executive Bob Iger and the company’s board of directors, effectively concluding a contentious battle initiated by activist investors Trian Fund Management and Blackwells Capital. The vote, announced during Disney’s annual shareholder meeting on Wednesday, reaffirmed the positions of all 12 current board members, effectively rejecting the campaign launched by the activist investors who had criticized the entertainment conglomerate for underperforming in the streaming-television era. Here’s a summary of the key events in the boardroom saga: This sequence of events encapsulates the journey of Disney’s boardroom battle, culminating in shareholders’ reaffirmation of support for…

WhatsApp, owned by Meta Platforms, resumed normal service on Wednesday after experiencing an outage that disrupted services for thousands of users worldwide. In a statement on the social media platform X, WhatsApp confirmed that the issues had been resolved. During the peak of the outage, over 24,000 WhatsApp users in the United States and more than 5,000 Instagram users reported disruptions, according to data from Downdetector. Although the majority of users regained access, around 1,000 individuals in the United States still encountered problems with Instagram, as per Downdetector, which aggregates status reports from various sources, including user-submitted errors. The outage…

On April 3, the Union government increased the windfall tax on crude petroleum to Rs 6,800/tonne from Rs 4,900/tonne, effective from April 4. This tax is imposed in the form of Special Additional Excise Duty (SAED). Earlier, on March 15, the government had raised the windfall tax on crude petroleum from Rs 4,600/tonne to Rs 4,900/tonne. The Special Additional Excise Duty (SAED) on the export of diesel, petrol, and Aviation Turbine Fuel remains at zero. These tax rates are subject to review every fortnight based on the average oil prices in the previous two weeks. The significant increase in windfall…

Alphabet’s Google is reportedly exploring the possibility of introducing premium features for its generative AI-powered search engine, as per sources familiar with the matter cited by the Financial Times on Wednesday. According to the report, the tech giant is considering various options, including integrating AI-powered search capabilities into its existing premium subscription services. These services currently offer access to the new Gemini AI assistant in Gmail and Docs. Alphabet’s shares experienced a slight decline of about 1% in after-hours trading following the news. If implemented, this would mark Google’s first venture into putting any of its core products behind a…

Here are the companies making headlines before the opening bell today, on April 4, 2024:

Oil prices settled at their highest levels since October on Wednesday amid investor concerns about supply disruptions in the Middle East conflict. However, gains were tempered by a surge in U.S. crude oil inventories. Brent futures increased by 43 cents, or 0.5%, closing at $89.35 a barrel, while U.S. West Texas Intermediate futures gained 28 cents, or 0.3%, ending at $85.43 a barrel. Earlier in the session, both contracts had surged by over a dollar due to worries about a potential supply deficit during the peak summer driving season. A meeting of top ministers from the Organization of Petroleum Exporting…

SAIL (103.92 percent), Hindustan Copper (103.03 percent), and Zee Entertainment (98.39 percent) have been included in the National Stock Exchange’s futures and options (F&O) ban list for trading on April 4. These stocks have been restricted in the F&O segment due to surpassing 95 percent of the market-wide position limit (MWPL). The prohibition remains in effect until the open interest falls below 80 percent. Potential Candidates for Inclusion India Cements (89.07 percent), PEL (88.32 percent), NALCO (84.02 percent), and Bandhan Bank (80.24 percent) may potentially join the ban list as they are close to the 95 percent MWPL. Technical Analysis

Maldives President Mohamed Muizzu reportedly announced on Tuesday that Indian troops stationed on the second platform will be withdrawn within the current month, while ensuring that all foreign troops in Maldives will be withdrawn by May 10. According to Maldives’ PSM News, Muizzu emphasized the presence of Indian troops on three platforms in Maldives. Muizzu stated that the troops on the third aviation platform will be withdrawn by May 10, adding that the withdrawal of foreign troops from Maldives is being pursued in accordance with diplomatic norms and principles. Muizzu reiterated his government’s commitment to prioritizing the interests and visions…