Latest news with #marketcapitalisation
Khaleej Times
3 days ago
- Business
- Khaleej Times
Global crypto assets reach all time high as US Trump signs off on GENIUS Act
The total market capitalisation of the global crypto market soared to a new all-time high of $3.92 trillion last week, following a pivotal moment in US regulatory progress, with the House of Representatives passing three major crypto bills during what is being referred to as 'Crypto Week'. US President Donald Trump signed into law the GENIUS Act late on Friday, regulating stablecoins in the US. This marked a huge win for crypto supporters, who have for long lobbied for a regulatory framework to gain greater legitimacy for the industry. The surge was driven largely by altcoins, which added an impressive $200 billion to their market capitalisation and saw their dominance relative to Bitcoin increase by 6 per cent. This shift has raised speculation that a new alt-season may be underway, as investor sentiment continues to strengthen beyond the traditional market leader. Bitcoin, the world's biggest crypotcurrency, climbed about 1 per cent on Monday, though it remains more than 3 per cent away from its all-time high of $123,153 hit last week. The price of Bitcoin rose in its last intraday trading, supported by the stability of the critical support at $116,500, data from showed, providing bullish momentum that assisted it to achieve limited gains, this positive trading amid the main bullish trend dominance on the short-term basis, with the continuation of its trading alongside a supportive bias line, besides the beginning of forming a positive overlapping signals on the (RSI), reinforcing the chances for the continuation of the rise on the near-term basis. 'Despite these bullish signals, the price remains facing technical pressures that come from its stability below EMA50, forming an obstacle against the quick recovery attempts, and weakens the ability to target higher resistance levels without breaching this level,' analysts wrote. One of the most notable developments was the record-breaking inflows into Ethereum spot ETFs, which saw a total of $2.18 billion in institutional investments over the week. The single biggest day was Wednesday, which recorded $726.6 million in inflows – a clear indicator of intensifying institutional interest in the second-largest cryptoasset. Ether was last trading at $3,783.2, hovering near its highest level since December 2024, according to Reuters data. Digital asset funds witnessed an all-time record inflow of $4.39 billion last week, according to data from crypto asset manager CoinShares. 'The passing of these bills could mark a turning point for crypto regulation and investor confidence, especially in altcoins with ties to the US market,' said Simon Peters, crypto market analyst at eToro. 'As Bitcoin dominance declines, investors are beginning to explore opportunities further along the risk curve.' With legislative clarity improving and institutional interest rising, the crypto market appears to be entering a new phase of growth and diversification.
Yahoo
5 days ago
- Business
- Yahoo
India's HDFC Bank reports 12.2% profit growth in Q1 due to higher interest income
(Reuters) -HDFC Bank, India's largest private bank by market capitalisation, reported higher-than-expected quarterly profit on Saturday due to a surge in interest income from loans and treasury gains, even as provisions for bad loans spiked. The bank's standalone net profit rose 12.2% to 181.55 billion rupees ($2.11 billion) in the April-to-June quarter, above the average analyst forecast of 172.84 billion rupees, according to data compiled by LSEG. The bank's net interest income - the difference between interest earned on loans and paid on deposits - rose 5.4% to 314.38 billion rupees. Other income, typically backed by treasury gains and fees on services, more than doubled to 217.29 billion rupees in the quarter. HDFC Bank's provisions for bad loans, however, jumped five-fold to 144 billion rupees. The bank, in its exchange filing, said most of these provisions were not linked to any actual bad loans but instead acted as a "countercyclical buffer for making the balance sheet more resilient." Indian lenders have been grappling with an increase in bad loans in segments such as microfinance and unsecured portfolio, which have forced them to set aside more funds for potential defaults and to strengthen their balance sheets. On Thursday, HDFC Bank peer Axis Bank saw its new bad loans double due to a market benchmarking exercise. While overall bank credit growth has slowed in India, HDFC Bank posted growth of 6.7% for its overall loan book, driven by a 17.1% rise in loans to small and medium businesses. The private lender also approved its first ever bonus share issue on Saturday, meaning each of its shareholders will be eligible to receive an extra bonus share for every share held. The date of issuance is still to be determined, the bank said. In a bonus issue, a company distributes additional stock to shareholders as a proportion of their holdings at no cost. It is typically a sign of confidence in financial performance and growth trajectory. The board has also approved a special dividend of 5 rupees per share. ($1 = 86.1450 Indian rupees) Sign in to access your portfolio
Yahoo
5 days ago
- Business
- Yahoo
India's HDFC Bank reports 12.2% profit growth in Q1 due to higher interest income
(Reuters) -HDFC Bank, India's largest private bank by market capitalisation, reported higher-than-expected quarterly profit on Saturday due to a surge in interest income from loans and treasury gains, even as provisions for bad loans spiked. The bank's standalone net profit rose 12.2% to 181.55 billion rupees ($2.11 billion) in the April-to-June quarter, above the average analyst forecast of 172.84 billion rupees, according to data compiled by LSEG. The bank's net interest income - the difference between interest earned on loans and paid on deposits - rose 5.4% to 314.38 billion rupees. Other income, typically backed by treasury gains and fees on services, more than doubled to 217.29 billion rupees in the quarter. HDFC Bank's provisions for bad loans, however, jumped five-fold to 144 billion rupees. The bank, in its exchange filing, said most of these provisions were not linked to any actual bad loans but instead acted as a "countercyclical buffer for making the balance sheet more resilient." Indian lenders have been grappling with an increase in bad loans in segments such as microfinance and unsecured portfolio, which have forced them to set aside more funds for potential defaults and to strengthen their balance sheets. On Thursday, HDFC Bank peer Axis Bank saw its new bad loans double due to a market benchmarking exercise. While overall bank credit growth has slowed in India, HDFC Bank posted growth of 6.7% for its overall loan book, driven by a 17.1% rise in loans to small and medium businesses. The private lender also approved its first ever bonus share issue on Saturday, meaning each of its shareholders will be eligible to receive an extra bonus share for every share held. The date of issuance is still to be determined, the bank said. In a bonus issue, a company distributes additional stock to shareholders as a proportion of their holdings at no cost. It is typically a sign of confidence in financial performance and growth trajectory. The board has also approved a special dividend of 5 rupees per share. ($1 = 86.1450 Indian rupees)
Reuters
5 days ago
- Business
- Reuters
India's HDFC Bank reports 12.2% profit growth in Q1 due to higher interest income
July 19 (Reuters) - HDFC Bank ( opens new tab, India's largest private bank by market capitalisation, reported higher-than-expected quarterly profit on Saturday due to a surge in interest income from loans and treasury gains, even as provisions for bad loans spiked. The bank's standalone net profit rose 12.2% to 181.55 billion rupees ($2.11 billion) in the April-to-June quarter, above the average analyst forecast of 172.84 billion rupees, according to data compiled by LSEG. The bank's net interest income - the difference between interest earned on loans and paid on deposits - rose 5.4% to 314.38 billion rupees. Other income, typically backed by treasury gains and fees on services, more than doubled to 217.29 billion rupees in the quarter. HDFC Bank's provisions for bad loans, however, jumped five-fold to 144 billion rupees. The bank, in its exchange filing, said most of these provisions were not linked to any actual bad loans but instead acted as a "countercyclical buffer for making the balance sheet more resilient." Indian lenders have been grappling with an increase in bad loans in segments such as microfinance and unsecured portfolio, which have forced them to set aside more funds for potential defaults and to strengthen their balance sheets. On Thursday, HDFC Bank peer Axis Bank ( opens new tab saw its new bad loans double due to a market benchmarking exercise. While overall bank credit growth has slowed in India, HDFC Bank posted growth of 6.7% for its overall loan book, driven by a 17.1% rise in loans to small and medium businesses. The private lender also approved its first ever bonus share issue on Saturday, meaning each of its shareholders will be eligible to receive an extra bonus share for every share held. The date of issuance is still to be determined, the bank said. In a bonus issue, a company distributes additional stock to shareholders as a proportion of their holdings at no cost. It is typically a sign of confidence in financial performance and growth trajectory. The board has also approved a special dividend of 5 rupees per share. ($1 = 86.1450 Indian rupees)
Irish Times
14-07-2025
- Business
- Irish Times
Nvidia dethrones Apple as king of market milestones
Nvidia is the world's first $4 trillion company, leaving Apple – long the king of market milestones – in its wake. Apple was the first to hit $1 trillion, $2 trillion and $3 trillion. But while its market capitalisation ($3.15 trillion) has idled since first closing above that landmark in mid-2023, Nvidia's has quadrupled, fuelled by insatiable demand for its AI chips. Even that understates Nvidia's rise: the stock is up more than 1,000 per cent since early 2023. READ MORE [ Nvidia outpaces Microsoft and Apple on path to $4 trillion valuation Opens in new window ] That sounds bubbly, but staggering revenue growth suggests otherwise. Revenues rose 69 per cent last quarter to $44 billion, with another record forecast for this one. Its top customers – Microsoft, Meta, Amazon, Alphabet – are to spend $350 billion on capital expenditure this year, much of it on Nvidia hardware. Valuation remains punchy, but not absurd. Nvidia's price-sales ratio is nearly four times that of Apple's, but the difference between their forward price-earnings ratios is slight. Nvidia bulls will note its growth rate is exponentially higher than Apple's and its PEG ratio (which adjusts for earnings growth) is actually far lower. Apple is stable and cash-rich, but slow growth means it's far from cheap. Nvidia appears riskier, but it keeps growing into its multiple. For now at least, investors are willing to pay up for speed over stability.
