While tech giants saw billions wiped from their fortunes in the aftermath of Trump's tariff announcement, Berkshire Hathaway's Warren Buffett actually gained $12.7 billion YTD and now shares the top spot with Bill Gates on the billionaire rankings. His success can be attributed to his diversified portfolio, including investments in less volatile sectors like consumer goods and energy. Additionally, Buffett's cautious approach and decision to sell equities and hold a record $334 billion cash pile contributed to his gains. Unlike his peers, Buffett avoided major losses in Apple and banking stocks, anticipating a market downturn.
The Indian government has announced an increase in the excise duty rates on petrol and diesel by ₹2 per litre, raising the duty to ₹13 per litre for petrol and ₹10 per litre for diesel. However, despite the hike, the retail prices of both fuels are expected to remain unchanged due to recent cuts in global crude oil prices. This decision comes in light of the ongoing trade tensions between the US and China, resulting in a drop in crude oil prices. OPEC+ group and its allies have also decided to increase crude oil production from May onwards. Follow Fortune India on social media for updates on this developing story.
Indian stock markets faced a steep decline on Monday, with the BSE Sensex falling by 5.19 percent and the broader Nifty dropping by 5 percent. This was triggered by trade tensions between the US and China, with the former imposing reciprocal tariffs on various trading partners, including India. The growing uncertainty and fears of a possible recession have led to a downturn in global markets, with major indices such as Hang Seng, Shanghai Composite, Nikkei 225, and KOSPI also witnessing a sharp decline. The heightened volatility in the markets has caused a heavy selling pressure in the Indian market, with the Nifty Smallcap 100 and Nifty Midcap 100 also facing significant losses.
In a shocking move, US President Donald Trump announces tariffs on imports from 180 countries, sending the stock market into a major decline. With investors drawing comparisons to the 1987 Black Monday crash, concerns about a global trade war and prolonged instability continue to grow. As major indices across the world drop and circuit breakers are invoked, the question on everyone's mind is: is this the next disaster for the stock market?
The BSE Sensex and Nifty50 experienced steep declines at the market open on Monday, following global markets' reaction to fears of an escalating trade war caused by US President Donald Trump's tariff policies. By mid-day, the BSE Sensex had plunged over 3,000 points and the Nifty50 had tumbled 5%, marking its steepest drop since June. This decline resulted in a loss of Rs 20.16 lakh crore in the market capitalisation of listed companies on the BSE. With Asian shares also nose-diving and US futures predicting further weakness, it seems that markets are responding to the sell-off seen in the US on Friday, which resulted in a $5 trillion market capitalisation erosion.
Rakesh Jhunjhunwala, renowned investor in the stock market world, has a new contender in his portfolio that has surpassed even Titan in holding value terms. This stock is from the healthcare space and has witnessed a significant gain since its market debut in December 2024. Despite this success, analysts have a consensus 'hold' recommendation for this stock, which is currently trading at a higher PE.
The Indian stock markets took a nosedive on Monday morning amid concerns over the impending US reciprocal tariffs. The Nifty 50 and Sensex were trading significantly lower in early trade, with all sectoral indices in the red and IT and metal sectors taking the biggest hit. While some recovery was seen after the initial crash, major companies like Tata Steel and Tata Motors continue to suffer losses.
A recent report reveals that Fox News could potentially face legal repercussions for its privacy practices, specifically for the California Consumer Privacy Act (CCPA). The law states that companies must disclose how they collect and use consumer data. This development could have significant implications for the news network and its viewers.
In a pioneering move, the Trilokeswar Farmer Producer Company (FPC) and the Department of Horticulture have successfully exported 12 tons of G9 bananas from Kalampur, Kalahandi to Dubai, marking the district's first international banana shipment. Led by farmers Smruti Ranjan Mund, Nilamani Lahajal, and Narayan Sahu, the project aims to enhance the state's agricultural and economic growth. The G9 variety, known for its high yield, nutrition value, and resistance to diseases, is set to make waves in the international market, offering a sweet and healthy treat to consumers.
At the Startup Maha Kumbh, Union Commerce Minister Piyush Goyal expressed disappointment with India's startup ecosystem for prioritizing food delivery, betting, and fantasy sports apps. He urged Indian startups to follow the lead of Chinese startups, which are excelling in areas such as electric vehicles, battery technology, semiconductors, and artificial intelligence. Goyal questioned whether India should settle for low-wage gig jobs or strive for technological progress. Despite having over 100 unicorns, India's third-largest startup hub, Goyal's remarks raise concerns about the country's focus on certain industries and its potential for innovation and development in other areas.