ProCapitas

US Jobs are growing!! According to the US Jobs report released by the US Bureau of Labour Statistics (BLS), the US economy broke all expectations and added a record 254,000 jobs in September 2024! This was substantially higher than the forecasts of around 150,000 jobs!! The private sector added 202,000 new jobs with services accounting for most of the additions. Goods-producing industries added only 21,000 new jobs, with construction contributing the most to such gains. Healthcare and Hospitality services added over 70,000 jobs each during September while the Transportation services sector faced layoffs. Moreover, the BLS also made an upward revision of previous reports. The payroll count for July was increased by 55,000 to 144,000 while August was revised from 142,000 to 159,000. Unemployment saw a marginal decline of 10 bps, coming in at 4.1% as average weekly hours declined marginally to 34.2 while average hourly earnings increased to $35.36 and weekly earnings grew 3.4% YoY to $1,209.31. While the report eases the economic concerns of a recession and shows robust growth in the once-stagnating labour market, it has also lowered the chances of another oversized rate cut by the Fed in its next meeting. Follow ProCapitas for more financial insights. #us #usa #jobs #economy #finance #financialinsights

Akriti Chopra’s Incredible Journey🔥 From joining Zomato as a finance manager in 2011 to becoming co-founder, Akriti Chopra spent 13 years building the company’s success. She played a big role in Zomato’s IPO and growth. What’s next for this powerhouse? #zomato #zomatoindia #akritichopra #trending #trendingnow #inspiration #blinkit #grofers #informative

SEBI is cracking down on F&O. 😱😱😱 𝐈𝐭 𝐡𝐚𝐬 𝐚𝐧𝐧𝐨𝐮𝐧𝐜𝐞𝐝 𝐧𝐞𝐰 𝐫𝐮𝐥𝐞𝐬!! The Securities Exchange Board of India (SEBI) has announced new rules to regulate the high-risk world of India’s Futures and Options by taking six new measures! What are they? ▪️ From 20th November 2024, the number of weekly expiries will be limited to one per benchmark per index per exchange! (only 6 weekly contracts per month instead of the current 18)! ▪️ The current range of contract sizes will be ranged between Rs 15-20 lakhs from the current Rs 5-10 lakhs!!! ▪️ An additional 2% Extreme Loss Margin (ELM) will be implemented for all open short positions on the day of expiry. ▪️ From February 2025, brokers will be required to collect options premium upfront! ▪️ Calendar spread benefits will be eliminated for contracts expiring on the same day! ▪️ From April 2025, stock exchanges will begin intraday monitoring of position limits for equity index derivatives! According to SEBI, these rules will help curb the rampant speculation in the market while also reducing F&O participation. Since a recent SEBI study revealed that 93% of retail traders lost money in F&O, these proposals aim to safeguard retail traders. However, the move has its own drawbacks. Zerodha CEO Nithin Kamath stated that the decision would impact 60% of overall F&O trades in India while hurting 30% of Zerodha’s overall orders!! Follow ProCapitas for more financial insights. #sebi #india #futures #options #stocks #indian #finance #financialinsights

India’s IPO market is on fire! 🔥 In 2024 alone, 76 mainboard IPOs have already hit the market—double the total in 2023. Which upcoming IPO are you eyeing for investment? Let us know your pick! 💡

US economic data has been released. Weekly jobless claims for the week ended on 28th September rose to 225,000, higher than the estimates of 220,000. This marks an increase of 6,000 in a week as Hurricane Helene and strikes by Boeing machinists and dockworkers are expected to complicate the labour market. Moreover, according to the Institute for Supply Management (ISM), September's non-manufacturing Purchasing Managers Index (PMI) came at its highest level since February 2023! Services saw significant growth in September as the Services PMI grew to 54.9, substantially higher than August’s reading of 51.5. For those unaware, a PMI reading of over 49 indicates an expansion. However, despite the positive growth in services, markets remained muted due to the growing conflict in West Asia. The S&P 500 closed at 5,699.94, down 0.17%. Follow ProCapitas for more financial insights. #us #usa #economy #economic #data #pmi #jobs #finance #financialinsights

Oil prices are soaring! Oil has taken a decisive swing upwards as it reached $76/bbl yesterday for the first time in almost a month! The day before, oil shot up by over 3%, making it the biggest intraday gain in over 2 months!! But why? Due to a wider conflict in West Asia. Iran launched a massive missile strike on Israel, firing over 200 missiles, in response to Israel’s killing of terrorist group Hezbollah’s leader Hassan Nasrallah. Israel intercepted the attack with the assistance of the US as this marked a major escalation in the war. The US and several other countries have condemned Iran’s actions, which the latter claims to be ‘legal, rational, and legitimate’, as the US has announced that it will be imposing further sanctions on Iran. Israel is planning retaliatory strikes on Iran as it has warned of ‘severe consequences’. Reports suggest that Israel is planning to target Iran’s nuclear and oil facilities in a massive attack. While the US has discouraged such strikes and called for a ‘proportionate’ response, analysts fear a sharp escalation in the region, sending oil and safe haven asset prices soaring! When reporting, the Brent Crude was trading at around $75.324/bbl. Follow ProCapitas for more financial insights. #oil #crudeoil #commodity #finance #financialinsights

Chinese markets are on fire!! China’s stock markets have ended their decline and entered a bull market, hitting levels it lost months ago. The CSI 300 grew a record 8.5%, gaining the most intraday since 2008, hitting its highest level in 14 months!! Why? Due to the government’s stimulus rally. The People’s Bank of China (PBOC), China’s central bank, recently announced a slew of measures wherein they trimmed mortgage rates and announced monetary support for the stock market! The measures introduced by the PBOC were important to help the country’s beleaguered economy which suffered from deflationary pressures, an ailing real estate sector, and high levels of local government debt. The rally began last week on Tuesday as both China and Hong Kong markets began climbing. In a week of trading, the Chinese markets have climbed almost 25%!! Investors, both domestic and foreign, hurried to buy into the rally as brokers reported lagged systems due to a high number of orders. The CSI 300 closed at 4,017.8545 yesterday as Chinese markets were closed for National Day holiday today and will remain off for the Golden Week. Follow ProCapitas for more financial insights. #china #chinese #finance #asia #asian #financialinsights

Zerodha has soared! It hit $1 billion in revenues!! For those unaware, Zerodha is the biggest discount broker and currently the second-largest broker in India! It began operations in August 2010 with the aim of “breaking all barriers that traders and investors face in India in terms of cost, support, and technology”. According to CEO Nithin Kamath, Zerodha’s annual revenues reached Rs 8,320 crores as the company boasted a profit margin of a record 55%, translating to a profit of Rs 4,700 crores! In terms of growth, the company’s revenues grew 21% YoY from Rs 6,875 crores last year while profits jumped 62% YoY from Rs 2,907 crores reported in FY23. This marks another year of double-digit growth by the brokerage. Moreover, Kamath also announced that according to the company’s internal calculations, Zerodha was worth Rs 30,000 crores or $3.6 billion! Follow ProCapitas for more financial insights. #zerodha #broker #india #billion #unicorn #finance #financialinsights

Another Big IPO is coming! Swiggy is prepping to go public!! For those unaware, Swiggy is one of India’s two largest food and grocery delivery apps, which began operating in 2014. The company flourished under the leadership of Sriharsha Majety, Rahul Jaimini, and Nandan Reddy. Multiple giants like Prosus Ventures, Accel, and SoftBank Investment Advisers have invested in it while celebs like Karan Johar and Rahul Dravid also back it. According to official filings, Swiggy has filed an updated Draft Red Herring Prospectus (DRHP) with the Securities Exchange Board of India (SEBI) to raise Rs 3,750 crores! It will be a combination of Fresh Issue and OFS. The DRHP states that the funds raised would be used to invest in their subsidiary Scootsy, to expand the dark store network for its q-commerce arm, invest in tech and cloud infrastructure, and fund inorganic growth. Kotak Mahindra Capital, Citi, Jefferies, Avendus, J.P. Morgan, Bank of America Securities, and ICICI securities are the book running lead managers of the public issue. Follow ProCapitas for more financial insights. #swiggy #india #fooddelivery #finance #ipo #financialinsights

$9 million fine on Vanguard! Because it misled investors!! Six months after declaring Vanguard Australia guilty of misleading its investors on its ESG bond claims, Australia’s Federal Court has slapped the finance giant with a staggering fine of A$12.9 million (USD$8.9 million)!! Moreover, it has to publish a notice of its misconduct on its website for 12 months!! For those unaware, Australia’s Federal Court had declared Vanguard Australia guilty of deceiving the investors of its Vanguard Ethically Conscious Global Aggregate Bond Index Fund. While the fund was supposed to remove corporate bonds exposed to fossil fuels, alcohol, gambling, etc, it did not do so. The Australian Securities and Investments Commission (ASIC) alleged, and later proved, that Vanguard made false representations. Moreover, it was later revealed that 74% of securities in the fund were from issuers not screened against applicable ESG criteria!! This move is part of the ASIC’s action against Australian firms that have been making exaggerated claims about their environment-friendly financial products. Follow ProCapitas for more financial insights. #vanguard #esg #environment #sustainability #bonds #financialinsights