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10 significant changes in the Indian stock market overnight: 1. Nifty and S&P 500 hit record highs 2. Oil prices saw a significant increase 3. Major shifts in key market indicators 4. Volatility in the market 5. Rise in trading volumes 6. Changes in stock prices 7. Fluctuations in key sectors 8. Impact of global economic factors 9. Investor sentiment and market outlook 10. Potential implications for future market performance

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10 significant changes in the Indian stock market overnight: 
1. Nifty and S&P 500 hit record highs 
2. Oil prices saw a significant increase 
3. Major shifts in key market indicators 
4. Volatility in the market 
5. Rise in trading volumes 
6. Changes in stock prices 
7. Fluctuations in key sectors 
8. Impact of global economic factors 
9. Investor sentiment and market outlook 
10. Potential implications for future market performance


Here are ten significant changes that occurred in the Indian stock market overnight, including the surge of Nifty and S&P 500 to record highs, as well as fluctuations in oil prices.,

Asian markets traded lower, while the US stock indices ended higher overnight with the S&P 500 hitting a record closing high ahead of key economic data.

Investors will watch out for the US Personal Consumption Expenditures Price Index (PCE), the US Federal Reserve’s preferred inflation gauge, due on Good Friday, when the stock markets will remain closed.

On Wednesday, the Indian stock market indices ended with decent gains led by a rally in index heavyweights, with the benchmark Nifty 50 closing above the 22,100 level.

The Sensex rallied 526.01 points, or 0.73%, to end at 72,996.31, while the Nifty 50 settled 118.95 points, or 0.54%, higher at 22,123.65.

Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — March 28

“Stock-specific actions and positive undercurrents due to a healthy economic growth forecast led the market towards a positive closure. However, due to the holiday-led truncated week, investors are now focusing on US GDP data and next week’s RBI policy announcement to gauge market direction,” said Vinod Nair, Head of Research, Geojit Financial Services.

The mid- and small-cap space are outperforming as investors got bargaining opportunities, but volumes are low, Nair noted.

Here are key domestic and global market cues for Sensex today:

Asian Markets

Asian markets traded lower on Thursday, while the Australian stocks hit a record high. Japan’s Nikkei 225 declined 0.98%, while the Topix plunged 1.08%. South Korea’s Kospi fell 0.19%, while Hong Kong’s Hang Seng index futures indicated a lower opening.

Gift Nifty Today

Gift Nifty was trading around the 22,173 level, a premium of nearly 6 points from the Nifty futures’ previous close, indicating a flat start for the Indian stock market indices.

Also Read: Day trading guide for today: Seven stocks to buy or sell on Thursday — March 28

Wall Street

US stock market indices ended higher on Wednesday, with the S&P 500 setting a closing record, ahead of the inflation data and US Federal Reserve commentary that would signal its interest rate path.

The Dow Jones Industrial Average rallied 477.75 points, or 1.22%, to 39,760.08, while the S&P 500 jumped 44.91 points, or 0.86%, to 5,248.49. The Nasdaq Composite ended 83.82 points, or 0.51%, higher at 16,399.52.

Among stocks, Merck & Co shares rose 4.96%, while Trump Media & Technology Group shares jumped 14.19%. Nvidia shares declined 2.5% and GameStop shares plunged 15.03%.

Fed Governor Waller

The US Federal Reserve Governor Christopher Waller said there is no rush to cut interest rates, emphasizing that recent economic data warrants delaying or reducing the number of cuts seen this year, Bloomberg News reported. Calling the recent inflation figures “disappointing”, Waller said he wants to see “at least a couple months of better inflation data” before cutting rates.

Also Read: Dividend stocks: SBI Cards, REC, CRISIL among 9 stocks to trade ex-dividend today

US Dollar

The US dollar jumped against major currency peers on Thursday. The dollar index, a measure of the greenback against major peer currencies, ticked up and last held at 104.41. The Japanese Yen fell to its 34 years-low against the greenback and reached 151.975 on Wednesday, its strongest against the yen since mid-1990, last traded at 151.37.

Bank of Japan Meeting Minutes

The Bank of Japan’s board was divided on whether the economy was strong enough to weather the end of its negative interest rates policy as many policymakers saw the need to go slow in phasing out ultra-loose monetary policy with one board member saying the economy’s health did not warrant rapid interest rate hikes, a summary of opinions at the bank’s March meeting showed.

Oil Prices

Crude oil prices rose to head for a strong quarterly gain led by expectations of OPEC supply cuts. West Texas Intermediate rose 0.49% to $81.75 a barrel after a modest two-day drop, with Brent crude rising 0.31% to $86.36.

Govt’s Borrowing Plan

The central government will borrow ₹7.50 lakh crore in the first half of the upcoming financial year, 53% of its overall FY25 target. The borrowing for FY25 would be done by issuing dated government securities along with ₹12,000 crore of sovereign green bonds. The borrowing from the market was pegged at ₹14.13 lakh crore in the interim budget for FY25.

Read here: Centre to borrow ₹7.5 trillion in April-September FY25

T+0 Settlement Cycle

Stock exchanges BSE and NSE have released the list of 25 stocks that will be eligible for the shortened T+0 settlement cycle from today, March 28. The T+0 settlement will be optional for these 25 stocks and applicable only for trades executed between 9:15 am and 1:30 pm. Check full list here

Nifty Indices Rejig

The semi-annual rebalance of Nifty indices will come into effect today, with adjustments being done on March 27. The Nifty indices rejig is estimated to lead to inflows worth $652 million in stocks such as Shriram Finance, HDFC Bank, Jio Financial Services, NTPC, Adani Power, and some others.

(With inputs from Agencies)

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.

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Published: 28 Mar 2024, 07:23 AM IST

Frequently Asked Questions

  • What caused the rally in the Indian stock market indices?
  • How did the US stock market indices perform on Wednesday?
  • What were the key highlights from Fed Governor Waller’s comments?
  • Why did the US dollar strengthen against major currency peers?
  • What is the borrowing plan of the central government for the upcoming financial year?

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Consumers may face higher beef prices from businesses

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Consumers may face higher beef prices from businesses


High beef prices have been weighing on U.S. businesses and consumers.

They have forced some businesses to make tough decisions about how to handle the increased costs, and some are passing the costs on to customers. 

Rob Passio, the owner of Lombardi’s Prime Meats in Philadelphia, told FOX Business correspondent Jeff Flock on “Varney & Co” that “there’s only so much you can absorb as far as the hit to your bottom line before you say to yourself you have to raise these prices.” 

The butcher shop, Passio said, hasn’t seen its customers balk at higher prices “because they see it.” 

EGGS ARE NOT THE ONLY EXPENSIVE FOOD: BEEF PRICES ARE ALSO ON THE RISE

ground beef

Organic ground beef Oct. 30, 2020, in Bavaria, Nuremberg (Daniel Karmann/picture alliance via Getty Images / Getty Images)

“They see the inflation. They see the pricing. You know, everything is up,” he told Flock.

Bureau of Labor Statistics inflation data measured by the consumer price index (CPI) showed prices for beef and veal were up 2.4% month-over-month and 7.6% year-over-year in February. 

The overall CPI posted a 0.2% increase month-over-month and a 2.8% jump year-over-year.

Courtney Schmidt, sector manager at Wells Fargo Agri-Food Institute, told FOX Business last month that high beef prices were driven by tighter U.S. beef production with consistent consumer demand.

The U.S. cattle herd is experiencing a down cycle, with cattle inventories at historically low levels in 2025, according to Schmidt.

Beef is more expensive

Demand for beef has remained strong since the pandemic, according to the American Farm Bureau Federation. (Kennedy Hayes/Fox News  / Fox News)

The U.S. Department of Agriculture (USDA) reported in late January that U.S. farms had 86.7 million head of cattle and calves. The count for beef cows specifically was 27.9 million, a decline of 1% compared to the same time last year, according to the USDA.

“I know they’re killing smaller cattle, so they’re trying, I guess, to kill them faster to create the supply that demand is needing,” Passio said. 

Some big companies source beef from Canada and Mexico, Flock reported on “Varney & Co.”

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President Donald Trump imposed 25% import tariffs on goods entering the U.S. from those two countries March 4 and, more recently, introduced exemptions for Mexico and Canada on goods under the United States-Mexico-Canada Agreement until early April.

Such a levy on imported beef would “increase the price,” according to Passio, adding that consumers “are going to pay for it.”

“My philosophy is to sell it as low as you can to show a savings, a value to the customer. And hopefully you have more customers to generate your revenue,” the Lombardi Prime Meats owner told Flock.  

beef in supermarket

Packages of beef are displayed for sale at a supermarket Jan. 12, 2023, in Foster City, Calif. (Liu Guanguan/China News Service/VCG via Getty Images / Getty Images)

In the U.S., ground beef averaged $5.63 per pound in February, while the per-pound price of boneless sirloin steak came in at $11.90, according to data from the Federal Reserve Bank of St. Louis. Those average prices were 9.6% and 1.6% higher, respectively, than the same month in 2024.

EGG PRICE SPIKE: WE ARE ‘PAST THE TOUGH PART,’ AGRICULTURE SECRETARY ROLLINS SAYS

The USDA projected in a report released this month that U.S. beef production is poised to amount to 26.685 billion pounds this year. 

Daniella Genovese contributed to this report.



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Is a Florida condo crisis brewing? Real estate developers claim rising costs are necessary

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Is a Florida condo crisis brewing? Real estate developers claim rising costs are necessary


High-rise condominium owners along the sunny and serene Florida coastlines are facing a costly reality, but prominent developers in the state argue surges in HOA fees and maintenance reserves are necessary to prevent a future tragedy.

“A lot of people have seen their maintenances double. They’ve seen some of the assessments become extremely unaffordable. It’s definitely impacted many residents here in Florida,” Gutman Development Marketing President Phil Gutman told Fox News Digital.

“There is a conflict, and the conflict is a bit complicated, and it’s a bit complex because you have three competing issues. One, you have the issue of safety. Two, you have older buildings,” Ian Bruce Eichner, The Continuum Company founder, also told Digital. “The last issue that comes from [the Condo 3.0 law] is a requirement that unless the condominium’s declaration, what the original offering said 50 years ago provides otherwise, you need 90% of the residents to agree to terminate the condominium.”

“We have the state, cities, city officials, code enforcement, city managers more involved in buildings. I think it’s important to prevent the next disaster, God forbid, the next catastrophe. Let’s not forget that there [are] thousands of old buildings, and thank God we didn’t see any other catastrophe except the Surfside building,” BH Group CEO and founder Isaac Toledano added.

IS ELON MUSK WARMING UP TO A SOUTH FLORIDA MOVE? REAL ESTATE INSIDERS SAY ‘REASONS ARE ENDLESS’

“I think the fact that you have more inspections, more regulations, I think it’s good for everybody and for everybody’s safety.”

High rise condos on Sunny Isles, Florida

Three prominent Florida real estate developers voice support for the state’s Condo 3.0 bill, even though it’s resulted in higher HOA and maintenance fees for unit owners. (Getty Images)

The higher condo fees are a result of the state’s “Condo 3.0” bill, passed by Florida Gov. Ron DeSantis in early 2024, less than three years after the Champlain Towers collapse in Surfside. The new bill dictates a new set of reforms, including how a building is maintained to how condo associations are governed. The oldest buildings and their residents are likely to see the most costly impending assessments.

“Any rational person has to be supportive of the legislation because it goes to the issue of safety. So while it may have a financial burden, we have an obligation – the state, the city, everybody has an obligation to keep people safe,” Eichner said. “So there’s no question that the law is something that, unfortunately, was a consequence of an event, but certainly it’s something everyone supports.”

According to recent data from Redfin, multiple Florida cities on the east and west coasts have year-over-year double-digit increases on condo fees. Tampa saw the sharpest rise at 16.7%; Fort Lauderdale had a 16.2% increase; the average median condo cost in Miami is $835 per month; and Key West has the highest median HOA fee at $1,063.

In some high-demand markets like Miami, unit owners at the 16-year-old 1060 Brickell Avenue building are required to split $21 million in special assessments after the board of directors reportedly identified areas of damage.

Many condo buildings that are 40 to 60 years old are more likely to be demolished and rebuilt as newer, luxury real estate projects, according to the developers.

“I think we’re going to see more and more of this transaction of prime real estate, older product getting replaced with the new product,” Toledano noted.

C.E.O. SAYS TRUMP WIN BRINGS NEWFOUND OPTIMISM TO U.S. REAL ESTATE: ‘MOMENTUM IS ABOUT TO CHANGE BIG TIME’

“The shift that we see in the market is the appetite of older product, older units, many other owners willing to work with the developers, and they understand that if you live in a three-story building that was built in the 1960s, this building will probably have some serious assessments, a lot of improvements, and sometimes it doesn’t make any sense to go and replace the roof, the electrical, the mechanical, something that will cost millions of dollars,” the BH Group lead also said. “[You’re] better off [to] sell the unit.”

“Some of these buildings that are 50, 60 years old that really can’t be fixed anymore. Those buildings do need to come down,” Gutman explained. “If somebody has an apartment there that was worth $300,000 in the open market, and we come in at $750 [to] $800,000, I believe those people are in a much better position than they were, to be quite honest with you. But people will have to find possibly another area to live in, something that’s more affordable, something that’s newer, something that’s safer.”

While state lawmakers argue the Condo 3.0 law will improve the longevity and quality of high-rise buildings, there are fears that luxury mixed-use developers strip residents of deciding powers, add costly fees and price them out of their long-term homes – especially for retired or fixed-income owners.

Gov. DeSantis’ office did not respond to Fox News Digital’s request for comment.

Eichner posed an example: “You have a building that is 62 years old, has $12 million in deferred maintenance, has a population of 20 or 25% of the building that’s retired, and that 20 or 25% either doesn’t want to move, doesn’t have the resources to move, need help to move.”

“So what you have is building after building facing assessments that they really can’t afford. They do not have the will, i.e. the 90% that can require a termination, and so they sit now in this ‘Never-Never Land’ in which they attempt to have some partial assessment, deferred assessment. Where is this going to go? I don’t know,” Eichner continued. “But for sure, there are hundreds of buildings that are in this situation as we wind our way out of year one of the post-assessment requirement. I suspect that this is going to be a real issue in 2025, 2026.”

In February, new leaders in the Florida legislature said their next sessions will include potential changes to condo laws, but will not involve talks around direct financial assistance for condo owners.

The three developers insist they’re here to help those concerned residents.

“I think that after all, developer or not, we’re all human being[s]. And if the stronger person can help the weaker person, or the smarter person can help the person with less knowledge or less experience, I think this is something that it’s good to see, and we should all help each other if we can,” Toledano said.

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“We don’t go in to try to take over buildings and don’t prefer a hostile environment. When we approach a building, we approach it and we move forward because everybody in the building wants to sell. And they don’t want the assessments, they don’t want the hiked-up maintenance fees,” Gutman chimed in. “That’s just our approach. We’re not fighters, we’re trying to help.”

“Part of the offer that we made was, to the extent that you are interested, we will help move you. To the extent that you’re not sure where you want to go, we will recommend some brokers to work with you,” Eichner said. “So it’s an attempt to have a more holistic, full-service approach rather than simply say: We’re offering you ‘x’ million dollars for your apartment, and that’s that, thank you, goodbye.”

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