🧈Gold Thrives, Bitcoin Dives 📉 (Dec 27)

✨ Gold Sparkles, 💸 Rupee Wobbles, 🎅 Santa Rally (Dec 26)

Chai Shots ☕: Quick Headlines

• Former PM Manmohan Singh Passes Away: The nation mourns the loss of former Prime Minister Manmohan Singh, who passed away at 92. A key architect of India’s economic reforms, Singh’s legacy is etched in history.

• Airtel Outage: A nationwide disruption left thousands of Airtel users without connectivity. Over 3,000 complaints were logged, with Gujarat being the most affected region.

• PAN 2.0 Launched: Dynamic QR codes are here to enhance PAN card security. The existing PAN cards remain valid, but upgrades with physical cards will come at a nominal fee.

• Gold Prices Rise: Gold touched ₹77,773 (24-carat) in Delhi amid a modest hike across cities. Factors include firm global trends and demand dynamics.

• Bitcoin’s Rollercoaster: Bitcoin slid 3.1%, as traders began de-risking after its record-breaking rally this year.

The Big Brew ☕: Budget 2025—Middle-Class Relief on the Horizon?

India is reportedly considering income tax cuts for individuals earning up to ₹15 lakh annually, potentially benefitting millions of taxpayers. The move, set to be announced in February 2025, aims to:

• Provide relief to middle-class earners.

• Boost consumption amidst economic slowdown.

• Simplify the tax landscape by encouraging more taxpayers to shift to the 2020 tax regime, which offers lower rates but fewer exemptions.

What does this mean for me?
If you’re a middle-class earner, this could mean more savings in your pocket—perfect for tackling rising expenses or boosting investments. Stay tuned for final details in February’s budget announcement.

Global Masala 🌍

Japan Airlines Hit by Cyberattack

Japan Airlines faced a massive cyberattack, disrupting internal and external systems. Domestic and international flights were affected, highlighting the growing threat of cyberattacks on global infrastructure.

China’s GDP Forecast Revised

The World Bank raised China’s GDP growth forecast for 2024 to 4.9%, citing near-term export strength and policy easing. Growth is expected to slow to 4.5% in 2025, as challenges in the property sector and subdued household confidence persist.

Nvidia’s Banner Year

Nvidia’s stock soared 180% in 2024, fueled by its dominance in AI. Retail investors contributed over $30 billion to the chipmaker’s market cap, making it a top retail favorite.

Market Masala 📈: Nifty, Sensex Wrap-Up

The Sensex decided to play it cool and stayed put at 78,472, while the Nifty gave us a cheeky little bump of 23 points, landing at 23,750. But wait—this marks the third straight series of losses! Yup, it’s a tear-jerker, the first time in 21 months that we’re on this sad train. Poor Nifty has dropped 10% overall—its steepest fall since June 2022.

Top Gainers

• Adani Ports: +5.22%

• M&M: +1.90%

Top Losers

• Titan: -1.17%

• Asian Paints: -0.99%

🎅Santa Continues to Deliver..for the S&P

Following Christmas, the stock market rebounded, with the S&P 500 rising 1.8% and the Nasdaq Composite climbing 2.3% after a record Christmas Eve performance. This surge aligns with the classic Santa Claus rally, known for typically giving the S&P a 1.3% holiday boost. While it's a festive time for investors, it's a reminder that seasonal gains might not last in the new year!*

_{*As of 11pm IST}

Startup Scoop 🏋️: Cloud Kitchens Cooking Up Profits

India’s cloud kitchen startups like Rebel Foods, Curefoods, and Biryani by Kilo are trimming losses while growing revenues. With the sector projected to grow at a 35% CAGR, investors remain optimistic despite high inflation challenges.

Tech Masala 📱: WhatsApp Rolls Out AR Effects

WhatsApp’s latest update for iOS introduces AR effects, customizable video backgrounds, and a document scanning feature. Users can apply effects like confetti or sparkles directly via the camera and enjoy streamlined file sharing with automatic cropping and filters.

Chai Break Trivia 🎮

Did you know? Uber and Ola are allegedly adjusting fares based on the type of device and user behavior. iPhone users are being charged more than Android users, per some tests

What’s Brewing Next? ☕

• DAM Capital Advisors Listing: Watch for a stellar debut on December 27.

• Bitcoin Volatility: Record $43 billion in Bitcoin derivatives expire Friday.

That’s your brew for the day! See you tomorrow for another cup of Masala Chai. 🍵