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Stock market today: BSE Sensex surges over 500 points; Nifty50 above 23,750

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Stock market today: BSE Sensex surges over 500 points; Nifty50 above 23,750


Stock market today: BSE Sensex surges over 500 points; Nifty50 above 23,750
According to market experts, Nifty’s crucial support level is now anticipated at 23,250. (AI image)

Stock market today: Indian equity benchmark indices, BSE Sensex and Nifty50, surged in trade on Monday morning. While BSE Sensex was above 78,600, Nifty50 was above 23,750. At 9:16 AM, BSE Sensex was trading at 78,629.72, up 588 points or 0.75%. Nifty50 was at 23,777.75, up 190 points or 0.81%.
According to market experts, Nifty’s crucial support level is now anticipated at 23,250, whilst resistance is expected between 23,850-24,000 for any upward movement.
“Nifty is in continuation of a downtrend and the only support that is visible on the chart is the swing low of 23,263, made on November 28 2024. 200 days SMA which is placed at 23,834 is now expected to act as an intermediate resistance for the short term,” said Nandish Shah, HDFC Securities.
US equities showed strong performance on Friday, recovering from two subdued sessions, supported by favourable inflation data and Federal Reserve officials’ statements regarding interest rates.
Asian equities advanced following lower-than-anticipated Federal Reserve inflation indicators, renewing expectations of rate reductions. Currency markets remained stable.
Gold prices remained stable Monday following Friday’s gains, influenced by reduced US dollar and Treasury yields after US economic reports indicated declining inflation.
Foreign portfolio investors sold Rs 3,598 crore net on Friday, while domestic institutional investors purchased Rs 1,374 crore worth of shares.
Foreign institutional investors increased their net short position from Rs 1.25 lakh crore to Rs 1.48 lakh crore between Thursday and Friday.




Big KYC Update! Key Identity Proofs To Be Masked In CKYC Starting January 20 To Prevent Fraud | Personal Finance News

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Big KYC Update! Key Identity Proofs To Be Masked In CKYC Starting January 20 To Prevent Fraud | Personal Finance News


New Delhi: The government has extended the deadline for masking sensitive KYC details in the Central KYC Records Registry (CKYCRR) to January 20, 2025. This has been done to protect personal information and prevent misuse. This means important details like your Aadhaar, PAN, Voter ID, and Driving License numbers will be hidden within the system, making them more secure and reducing the risk of fraud.

Date extension

Banks and financial institutions which are categorised as Regulated Entities (REs) have raised concerns about the swift rollout of certain measures and requested more time to implement them. In response, the Central Know Your Customer (CKYC) has extended the deadline for masking KYC identifier documents from December 16, 2024 to January 20, 2025.

The Central KYC Records Registry has announced that the implementation of masking KYC identifiers has been postponed. Initially set to go live on December 16, 2024, at 8:00 PM, the new deadline is now January 20, 2025, at 8:00 PM. This decision was made in response to requests from various reporting entities, according to an official statement dated December 16, 2024.

How your data will be protected

Starting January 20, 2025, the updates system will improve data security by showing only the last four digits of KYC identifier documents like Aadhar, PAN, Voter ID and Driving License while keeping the rest of the details hidden.

In an official communication dated October 17, 2024, the Central KYC Records Registry announced new measures to enhance data security. According to the statement, “To enhance data security, the KYC Identifier shall now only be available to registered reporting entities (REs) when the KYC record is successfully downloaded from CKYCRR using an authentication factor.

In the KYC search response and confirmed match responses received during the new KYC record generation (KYC Upload) process, the KYC identifier shall be masked, and a CKYC reference ID that is unique to each KYC identifier shall be provided. 

What is Masked KYC?

Masked KYC is a process that safeguards sensitive customer information in records shared through CKYCRR. Instead of showing the complete KYC identifier, only the last four digits will be visible. This ensures better privacy and reduces the risk of unauthorized access. Registered entities can still retrieve full KYC records using a unique CKYC Reference ID assigned to each record.


Small plane crashes into Brazil town popular with tourists, killing 10 | Aviation News

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Small plane crashes into Brazil town popular with tourists, killing 10 | Aviation News


Twin-engine plane crashed in largely residential neighborhood of Gramado shortly after takeoff, authorities say.

A small plane has crashed into a tourist hotspot in southern Brazil, killing all 10 people on board and injuring more than a dozen people on the ground, officials have said.

The twin-engine Piper PA-42-1000 hit the chimney of a home and the second floor of a different house before crashing into a shop in a largely residential neighbourhood of Gramado shortly after takeoff from Canela, Brazil’s Civil Defense agency said on Sunday.

Rio Grande do Sul Governor Eduardo Leite told a news conference that the aircraft’s owner and pilot, Luiz Claudio Galeazzi, was killed along with nine members of his family.

Leite said that 17 people on the ground were injured, 12 of whom were still receiving treatment in hospital.

Galeazzi’s company, Galeazzi & Associados, confirmed that its CEO and Galeazzi’s wife and three daughters had died in the crash.

“Luiz Galeazzi will be forever remembered for his dedication to his family and for his remarkable career as a leader of Galeazzi & Associados,” the company said in a post on LinkedIn.

“In this moment of immense pain, Galeazzi & Associados is deeply grateful for the expressions of solidarity and affection received from friends, colleagues and the community. We also sympathize with all those affected by the accident in the region.”

Gramado, located in the Serra Gaucha mountains, is a popular destination for vacationers, especially during the Christmas season.

The crash comes a little more than a year after Brazil suffered its worst air disaster in nearly two decades when a twin-engine plane crashed in the southeastern city of Vinhedo, killing all 62 people on board.


Woman dies after being set on fire on subway train

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Woman dies after being set on fire on subway train


Getty Images Police investigate at the Coney Island-Stillwell Avenue Station in Brooklyn after a woman aboard a subway car was set on fire and diedGetty Images

Police were called to Coney Island-Stillwell Avenue Station in Brooklyn after a woman on a subway car was set on fire

A suspect has been arrested in New York over the death of a woman who was set on fire on a subway train in Brooklyn.

Police Commissioner Jessica Tisch described the incident on Sunday as “one of the most depraved crimes one person could possibly commit against another human being”.

She said the woman was on a stationary F train to Brooklyn when she was approached by a man who used a lighter to ignite her clothing.

The victim died at the scene, she said, adding that the suspect had been taken into custody after he was detained on another subway train.

Police said the woman, who has not been named, was in a subway carriage at the Coney Island-Stillwell Avenue station in Brooklyn at about 07:30 local time (12:30 GMT) when a man approached her.

There was no interaction before the attack, police said, adding that they did not believe the two people knew each other.

The man got off the train as police officers on patrol in the station rushed to the fire.

“Officers were on patrol on an upper level of that station, smelled and saw smoke and went to investigate,” Ms Tisch said.

“What they saw was a person standing inside the train car fully engulfed in flames.”

Police are still working to identify the victim and the motive for the attack.

Getty Images Police investigate at the Coney Island-Stillwell Avenue Station in Brooklyn after a woman aboard a subway car was set on fire and died. A police officer can be seen walking up a stair case with some yellow police tape flickering in the distanceGetty Images

Officers responded with fire extinguishers, but the victim died at the scene

“Unbeknownst to the officers who responded, the suspect had stayed on the scene and was seated on a bench on the platform just outside the train car,” Ms Tisch added.

She explained responding officers were able to get a “very clear, detailed” look at the man and images were disseminated by the New York Police Department (NYPD).

Later, three high school-aged New Yorkers called 911 to report they recognised the suspect on another train, Ms Tisch told reporters.

The man was then located and arrested after officers boarded the train and walked through the subway carriages.

Getty Images A white NYPD van is parked outside a Brooklyn station where a woman died after being set on fireGetty Images

Police said the incident happened at 07:30 local time

The NYPD’s Joseph Gulotta said detectives are still trying to establish whether the victim was asleep when she was set on fire.

“She’s definitely there, she’s motionless,” Mr Gulotta added.

“So to say if she’s asleep or not, we’re not 100% sure, but it appears that she’s motionless at that spot.

“There is no interaction between the two. And when the incident happens, there is no interaction between them.”


Epigamia co-founder Rohan Mirchandani dies at 42

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Epigamia co-founder Rohan Mirchandani dies at 42


Epigamia co-founder Rohan Mirchandani dies at 42

MUMBAI: Rohan Mirchandani, co-founder at yoghurt brand Epigamia, passed away on Dec 21 at the age of 42 due to a sudden cardiac arrest, the company said in a statement.
Mirchandani, an alumni of The Wharton School and NYU Stern School of Business, set up Epigamia parent Drums Food International in 2013. He introduced the flavoured Greek yoghurt brand in Indian retail shelves and popularised the product in the market. Positioned as a health snack brand, Epigamia widened its slate of offerings – serving consumers artisanal curd, a range of smoothies, milkshakes, plant-based yoghurts and lactose free curd.
The senior leadership at Epigamia – led by COO and founding member Ankur Goel, co-founder and director Uday Thakker – will continue to steer the company’s day-to-day operations with full support of the board of directors including Mirchandani’s family. The new-age brand is backed by investors like Verlinvest and DSG Consumer Partners.
“All of us at Epigamia family will deeply mourn this loss. Rohan was our mentor, friend and leader. We remain steadfast in our determination to carry forward his dream with strength and vigour. Rohan’s vision and values will continue to guide us as we work together to honour the foundation he built and ensure that his dream continues to flourish,” Goel and Thakker said in a statement. Harsh Mariwala, chairman at Marico, said that Mirchandani’s death is a significant loss to the entrepreneurial community. “We will work closely with the leadership of the company to take Rohan’s legacy to greater heights,” Epigamia board said.




Trump rejects taunts that Elon Musk is real power behind US president-elect | Donald Trump News

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Trump rejects taunts that Elon Musk is real power behind US president-elect | Donald Trump News


United States President Donald Trump has pushed back on the notion that he has “ceded the presidency” to billionaire Elon Musk, who has taken an outsized role in the president-elect’s transition into the White House.

Trump made the comments during a speech in Arizona on Sunday, days after the Tesla and SpaceX owner intervened alongside the president-elect to scuttle a budget bill negotiated in Congress.

The incident was the latest in which Musk has taken an atypically large role in the incoming Trump administration, prompting criticism from Democrats and from within Trump’s own Republican party.

Directly addressing those criticisms for the first time, Trump praised Musk, before adding: “And no, he’s not taking the presidency.”

Trump further called the suggestion that he has “ceded the presidency to Elon Musk” another “hoax” pushed by his political opponents.

In a later quip, Trump noted that there is no risk of Musk officially taking over as president because he would be constitutionally barred from doing so.

“You know why he can’t be [president]?” Trump asked the crowd in Arizona. “He wasn’t born in this country.”

The South African-born Musk – the world’s richest person according to Forbes Magazine – became one of Trump’s biggest supporters in the run-up to the election, endorsing the president-elect in July following an assassination attempt and pumping an estimated $200m into a Political Action Committee (PAC) supporting Trump.

He has since been tapped by Trump to lead a proposed Department of Government Efficiency (DOGE), tasked with taking a slash-and-burn approach to federal government spending.

The so-called “department” has been billed as an independent advisory panel, not an official government agency, and its purview remains undefined.

Budget deal intervention

Trump’s comments come a day after outgoing US President Joe Biden signed into law a funding bill that averts a government shutdown.

The previous bill negotiated by members of both parties in Congress was torpedoed days earlier when Trump came out in opposition.

The president-elect’s main contention was that the bill did not raise the debt ceiling – a political fight Trump hoped to avoid before taking office in January. The debt ceiling is the US’s borrowing limit, a cap imposed by Congress on how much money the government can borrow to cover the gap between its revenue and spending.

Musk had also come out in opposition to the deal, which he criticised in a flood of tweets on the X social media platform that he also owns. He pledged to financially support primary challenges to lawmakers who supported the original legislation.

Speaker of the House Mike Johnson later told US media that he spoke by phone to both Trump and Musk as a new bill was renegotiated.

The final bill – which funds the US government at the current rate through March 14 – gutted several provisions opposed by Trump and Musk. However, the final version did not raise the debt ceiling amid opposition from a cadre of Republican lawmakers.

Speaking to CNN, Republican lawmaker Rich McCormick said Musk’s intervention showed “he has influence and he’ll put pressure on us to do whatever he thinks the right thing is for him.”

Other Republicans have been more accepting, with Representative Tony Gonzales saying in an interview on CBS that it “feels like Elon Musk is our prime minister”.

Speaking on CNN, Senator Bill Hagerty praised Musk’s role in negotiating the bill, while pushing back on the notion that the billionaire was driving Trump’s decisions.

‘Extremely alarming’

Beyond the budget deal, Musk’s regular presence alongside Trump before he takes office on January 20 has for weeks caused disquiet among Democrats.

The billionaire was on the call when Trump spoke to Ukrainian President Volodymyr Zelenskyy following his election victory. He has also been present for recent meetings with French President Emmanuel Macron and Italian Prime Minister Giorgia Meloni in New York.

The criticism has been prompted by social media memes showing Trump kowtowing to Musk in various settings.

Following last week’s budget negotiations, several Democrats accused Musk of intervening to serve his own interests.

They pointed to his support for removing a provision in the original bill that could have limited the operations of his businesses in China.

“It is extremely alarming that House Republican leadership, at the urging of an unelected billionaire, scrapped a bipartisan, bicameral negotiated funding deal that included this critical provision to protect American jobs and critical capabilities,” Representative Rosa DeLauro wrote in a letter to congressional leaders on Friday.


Founders Of 28 Indian New-Age Startups Took Home Rs 284 Crore As Salary In FY24 | Economy News

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Founders Of 28 Indian New-Age Startups Took Home Rs 284 Crore As Salary In FY24 | Economy News


New Delhi: A total of 51 founders of 28 Indian new-age startup companies in the country took home Rs 283.5 crore as an annual salary in FY24. According to the Inc42 report, “The average salary of startup founders in India declined by 26.9 per cent on year-on-year (YoY) basis to Rs 5.55 crore in FY 24 from Rs 7.6 crore in FY23.”

These new-age startups are from across all sectors. Among all these startups, Supam Maheshwari, founder of e-commerce startup FirstCry, took home the highest salary of Rs 103.8 crore in FY24. However, this is about 50 per cent less than the salary of Rs 200.7 crore taken in FY23.

FirstCry’s operating income in FY24 was Rs 6,480 crore and the company suffered a loss of Rs 321.5 crore during this period. Zerodha founders Nikhil and Nithin Kamath were second on this list in FY24. Each of the two brothers took an annual salary of Rs 33.8 crore in the last financial year. In FY23, each took a salary of Rs 48 crore.

Zerodha’s operating income in FY24 was Rs 9,372.1 crore and the company made a profit of Rs 5,496.3 crore during this period. Capillary Technologies founder Aneesh Reddy was third on this list. He took a salary of Rs 13.3 crore in FY24. This is 1,480 per cent more than the salary of Rs 84 lakh in FY23.

Hotel software company RateGain founder Bhanu Chopra received a salary of Rs 5.8 crore in FY24 from Rs 6.1 crore in FY23. RateGain’s operating income grew 69 per cent to Rs 957 crore in FY24 and the company posted a profit of Rs 146.3 crore during this period.

Paytm, MD and CEO Vijay Shekhar Sharma were fifth on the list. He took an annual salary of Rs 4.4 crore in FY24, up 10 per cent from the annual salary of Rs 4 crore taken in FY23. Mamaearth CEO Varun Alagh’s annual salary in FY24 was Rs 3.97 crore, up 166.9 per cent from the annual salary of Rs 1.49 crore in FY23.

At the same time, his wife and co-founder of the startup received a salary of Rs 1.79 crore in FY24, which is 80.8 per cent more than Rs 99 lakh in FY23. Mamaearth’s operating income in FY24 was Rs 1,919.9 crore and the company made a profit of Rs 110.5 crore during this period.


Private plane crash in Brazil kills pilot and his family

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Private plane crash in Brazil kills pilot and his family


Reuters Emergency workers attend burned out buildings behind police tape at the scene of the crash.Reuters

Ten members of a family have died after a private plane crashed into the city of Gramado in southern Brazil.

Brazilian businessman Luiz Claudio Galeazzi, who was piloting the plane, was killed in the crash alongside his wife, three daughters and other family members, a statement from his company said.

The small plane reportedly hit the chimney of a building, as well as a house and a shop as it fell.

Local authorities say 17 people on the ground were injured in the accident, including two in a serious condition.

Mr Galeazzi, 61, was taking his family on a trip to Jundiaí, in the São Paulo state, according to reports in Brazilian media.

All 10 victims of the crash were members of Mr Galeazzi’s family, Rio Grande do Sul state governor Eduardo Leite told a press conference. He added that the plane had taken off in unfavourable weather conditions.

The plane reportedly flew for 3km (1.8 miles) before falling into the urban area of the city just minutes after take-off on Sunday morning.

“At the time, it was revving up. You could see that it was accelerating a lot,” an eyewitness, Nadia Hansen, told Reuters news agency.

“Then there was a bang as it hit the building and then it passed close to my house and then it fell, and I thought it had dropped in front of the house,” she said.

Pictures from the scene show emergency workers attending to the smoking wreckage among debris from badly damaged buildings.

Reuters A damaged building and several wrecked tables and chairs.Reuters

Mr Galeazzi was the chief executive of Galeazzi & Associados, a corporate restructuring and crisis management firm based in São Paulo.

The company issued a statement on LinkedIn, paying tribute to the 61-year-old.

“Luiz Galeazzi will be eternally remembered for his dedication to his family and for his remarkable career as the leader of Galeazzi & Associados,” the statement said.

“We also sympathize with all those affected by the accident in the region,” it said, adding that it would co-operate with investigations into the accident.

The plane crashed near the centre of Gramado, hitting a house, a furniture store and a hotel, according to Brazilian media.

State governor Mr Leite said the cause of the accident was being investigated by the Aeronautical Accident Investigation and Prevention Center (Cenipa).

“The entire state is mobilized here to provide the necessary assistance,” he told reporters at the scene.

Gramado is a popular tourist destination, known for hosting events during the festive period.

The region was severely hit in May this year by unprecedented flooding, which claimed dozens of lives and displaced around 150,000 people from their homes.


Amazon Prime goes the Netflix way, cracks down on password sharing from 2025

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Amazon Prime goes the Netflix way, cracks down on password sharing from 2025


Amazon Prime Video is doing what Netflix has already done; Bring password-sharing rules to India from 2025.

The Amazon Prime Video streaming app is seen (AP)
The Amazon Prime Video streaming app is seen (AP)

According to the new rules, users will be able to log in to their accounts from a maximum of 5 devices which includes only up to two TVs, according to a Mint report.

Also Read: What does Googleyness mean? Sundar Pichai uses these 6 phrases to explain

“As part of your Prime membership, you and your household are entitled to enjoy Prime Video on up to five devices,” an email sent to Amazon Prime subscribers read, according to a Mint report. “Starting January 2025, we are updating our usage terms in India to include up to two TVs as part of your five devices entitlement.”

“You can manage your devices on your Settings page or buy another Prime membership to watch Prime Video on more devices,” the company added.

At the moment, Amazon Prime members can log in to up to 10 devices with no other specific sub-limits.

Also Read: 10 ways you could get scammed by cyber criminals, SBI advisory warns

Though it will still be possible for Prime Video members to log in to up to 5 devices at the same time, the upper limit of 2 TVs can be a significant limiting factor for some users.

This also comes after the streaming company said that its current subscribers will also have to start seeing ads during both TV shows and movies from 2025.

However, Amazon also said that Prime Video will be having fewer ads than “linear TV and other streaming TV providers.”

It also mentioned that a new ad-free Prime tier will be launched in India soon.

Also Read: Govt proposes crackdown on unregulated lending, may ban loan apps and impose ₹1 crore penalty, 10-year jail term

What are the current Amazon Prime subscription options in India?

At the moment, the Amazon Prime annual package is priced at ₹1,499. This includes Prime Video, free deliveries for Amazon, and more.

Quarterly and monthly subscriptions are priced at ₹599 and ₹299 respectively.

There is also an Amazon Prime Lite plan as well as a Prime Shopping Edition plan, both of which are priced at ₹799 and ₹399 respectively, offering a stripped-down version of the original package.


Will the Christmas market attack divide Germans further over immigration? | Crime

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Will the Christmas market attack divide Germans further over immigration? | Crime


German authorities say the suspect supports a right-wing party.

German authorities say the psychiatrist accused of a ramming attack in Magdeburg is Islamophobic.

They have charged the Saudi psychiatrist – who has lived in Germany for 18 years – with several counts of murder and attempted murder.

But the anti-immigrant, far-right Alternative for Germany party has made gains in opinion polls before February’s snap election. And just days after the fall of the al-Assad regime, the government in Berlin froze asylum applications from Syrians.

Will Friday’s carnage, coupled with the dispute about migrants in Europe, divide Germany even further?

Could police have done more to prevent the attack?

Presenter: Neave Barker

Guests:

Ulrich Brueckner – Professor of political science at Stanford University in Berlin

Rachel Rizzo – Non-resident senior fellow at the Atlantic Council’s Europe Center

Muhammad al Kashef – Political adviser and consultant at Migrant Solidarity Network