Economy news

• SpaceX retail investors turn net sellers for first time since IPO; offload $4.5 million worth of shares

  10-08-2026 19:52 via timesofindia.indiatimes.com
  
  Retail investors turned into net sellers of SpaceX shares as of August 7, marking the end of a buying frenzy. This change coincided with a stock price recovery, indicating that individuals may be taking profits. The shares have struggled post-IPO, dropping beneath the initial offering price. Investors who were hopeful at the launch might now be looking to reduce their losses, even amidst a slight recovery in recent days.
  
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• ‘Broken overnight’: How stock market’s new closing auction is making traders jittery

  10-08-2026 17:59 via timesofindia.indiatimes.com
  
  New stock market closing system: Brokerages found themselves responding to a surge of client queries, while retail investors turned to social media after noticing that the official closing prices appeared to differ from where stocks had traded during the day.
  
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• India’s power demand hits new peak, evening supply gap widens to 3,045 MW

  10-08-2026 17:51 via timesofindia.indiatimes.com
  
  In May, India's power consumption surged to an unprecedented 270.8 GW, reflecting heightened energy needs across the nation. However, June faced a significant power shortfall of 3,045 MW, mainly affecting the northern states. This gap in electricity supply resulted from limitations in the transmission and distribution networks. While thermal energy continued to dominate the scene, there was an uptick in renewable energy contributions.
  
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• BSE enters Nifty50, Wipro exits: What changes from September 30

  10-08-2026 17:27 via timesofindia.indiatimes.com
  
  BSE Ltd is set to take the place of Wipro Ltd in the prestigious Nifty 50 index from September 30, 2026. This alteration comes after a semi-annual review by NSE Indices, focusing on market capitalization metrics. Following this shift, Wipro will transition to the Nifty Next 50 index. BSE's inclusion is attributed to its notably greater free-float market capitalization, complemented by other index updates on the same date.
  
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• US stock market today: Wall Street drifts near all-time high; crude oil prices rise

  10-08-2026 17:09 via timesofindia.indiatimes.com
  
  US stock market: The recent rally in equities has begun to lose momentum after being fuelled by a strong corporate earnings season in which large US companies reported sharply higher spring-quarter profits.
  
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• Beijing’s billion-barrel weapon: Why India must prepare for China-driven oil prices

  10-08-2026 16:02 via timesofindia.indiatimes.com
  
  China has accumulated as much as 1.4 billion barrels in strategic and enterprise-controlled inventories, according to a new RAND study. That is more than three times the roughly 413 million barrels held in the US government’s Strategic Petroleum Reserve.
  
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• India diversifies energy sourcing amid geopolitical risks; taps 15 countries for LNG, 41 for crude

  10-08-2026 13:56 via timesofindia.indiatimes.com
  
  India is expanding its energy import portfolio for both LNG and crude oil, striving to diminish reliance on any singular market or transport path. Additionally, the government is boosting domestic crude oil storage with new infrastructure. These strategies equip India to better handle supply interruptions and market fluctuations, ultimately strengthening the nation's resilience to global energy shocks.
  
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• ONGC, Shell Energy India sign MoU to explore deepwater blocks, LNG sourcing opportunities

  10-08-2026 13:51 via timesofindia.indiatimes.com
  
  ONGC and Shell Energy India have entered into a memorandum of understanding to collaboratively delve into potential joint ventures. Their focus will be on assessing opportunities in deepwater and ultra-deepwater oil and gas exploration, alongside investigating LNG sourcing alternatives to bolster India's economic framework. This strategic partnership is designed to improve energy accessibility while ensuring long-term energy security for the nation.
  
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• Elon Musk net worth 2026: World’s richest person added over $800 million per day

  10-08-2026 12:53 via timesofindia.indiatimes.com
  
  Between 2025 and 2026, Elon Musk's fortune saw remarkable growth, accumulating billions as a result of SpaceX's impressive stock performance. Despite heightened spending on artificial intelligence initiatives, the company reported solid revenue and significantly reduced losses. The concentration of wealth among technology giants remains staggering, with the U.S. at the forefront. By 2029, SpaceX is on track to surpass one trillion dollars in revenue.
  
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• ITR filing: How to track your tax refund status online: step-by-step guide

  10-08-2026 10:45 via timesofindia.indiatimes.com
  
  ITR refund status: A refund arises when the income tax that you have paid exceeds your final tax liability. This can be due to excess TDS, TCS, advance tax, self-assessment tax, deductions, exemptions, or treaty-based relief claimed in the return.
  
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• Stocks to buy: What's the outlook for Nifty for August 10-August 14 week? Check list of top stock recommendations

  10-08-2026 08:14 via timesofindia.indiatimes.com
  
  Stock market recommendations: AIA Engineering, and Cochin Shipyard are the top stocks to buy identified by Sudeep Shah, Head - Technical Research and Derivatives, SBI Securities for August 10, 2026 week.
  
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• Rupee slips 8 paise against US dollar as crude prices rise amid Middle East chaos

  10-08-2026 07:36 via timesofindia.indiatimes.com
  
  The Indian Rupee started the week on a weaker note against the US dollar, influenced by rising global crude oil prices and a strengthening dollar. However, inflows from foreign institutional investors and robust forex reserves offered some respite. Recently, India's foreign exchange reserves experienced a notable rise, prompting market watchers to closely track currency fluctuations and international trends.
  
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• Top stocks to buy: Stock recommendations for August 10, 2026 week - check list

  10-08-2026 05:01 via timesofindia.indiatimes.com
  
  Stock market recommendations: Motilal Oswal Wealth Management Research Desk has identified Happy Forgings and Siemens Energy as the top stocks to buy for the week starting August 10, 2026. Let’s take a look:
  
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• Oil price today: Brent crude jumps over 1% as traders await Hormuz reopening

  10-08-2026 04:05 via timesofindia.indiatimes.com
  
  On Monday, oil prices surged amid ongoing uncertainty surrounding the reopening of the Hormuz Strait. While Iran and Oman are closing in on an agreement for a shipping lane, Iran's demands for concessions from the U.S. linger. Adding to market tensions, Houthi rebels targeted Saudi Aramco's Jazan refinery, igniting a fire, along with numerous attacks in the Red Sea and Gulf of Aden, raising serious concerns about oil shipment security.
  
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