Business
Seminar on financial literacy held at NIT Srinagar
The Securities and Exchange Board of India (SEBI) and the National Stock Exchange (NSE), in collaboration with the National Institute of Technology Srinagar (NIT Srinagar), successfully organized a seminar on financial literacy on Saturday.
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The event was aimed at promoting financial education and fostering awareness about capital markets among the students and faculty of NIT Srinagar, according to statement issued to Asian News Hub (ANH).
The seminar commenced with a warm welcome speech by Prof. Adnan Qayoum, the Head of the Department of Humanities, Social Sciences and Management (HSS&M) at NIT Srinagar.
He extended his gratitude to the esteemed guests and participants, emphasizing the significance of financial literacy in today’s dynamic economic landscape.
The highlight of the seminar was the presence of the Chief Guest, Mr. Shri SVMD Rao, Executive Director of SEBI. Mr. Rao shared insights into the importance of financial literacy and the role of SEBI in regulating India’s securities and exchange markets.
He encouraged the audience to take an active interest in financial education and be prudent investors.
Following the opening address, the seminar featured two technical sessions conducted by eminent guest speakers. The first session was led by Mr. Shri Pranjal Jayaswal, General Manager at SEBI. Mr. Jayaswal provided a comprehensive overview of SEBI’s regulatory framework and its efforts to protect investors and ensure fair market practices.
The second technical session was conducted by Mr. Joginder Singh, Vice President of NSE. Mr. Singh delved into the intricacies of investing in capital markets, providing valuable insights on market dynamics, investment strategies, and risk management. His session was particularly well-received by the enthusiastic audience.
The seminar also featured an engaging quiz that tested the participants’ knowledge of financial markets and investment principles. It provided a fun and educational way for the attendees to assess their financial literacy.
A lively interactive Q&A session followed the technical sessions, allowing students and faculty to clarify doubts and seek advice from the expert speakers.
To conclude the seminar, a vote of thanks was delivered by Miss Kanika, expressing gratitude to all the attendees, speakers, and organizers for making the event a success. She also stressed the importance of continued efforts to enhance financial literacy among the youth.
The seminar on financial literacy organized by SEBI, NSE, and NIT Srinagar was a resounding success, leaving participants better informed about the world of finance and investment. It reflected the commitment of these organizations to empower individuals with the knowledge and skills necessary to make informed financial decisions, the statement added.
The world’s largest cryptocurrency by market value, Bitcoin (BTC), rose to levels not seen since May 2022 on Friday, the day after the American Thanksgiving holiday, amid calm trading in traditional markets, CoinDesk reported.
The price of the cryptocurrency dropped to levels around $37,800 after momentarily touching $38,000 earlier on Friday morning. Now that it has remained over the $38,000 barrier for a few hours, Bitcoin looks like it is trying to move higher.
The uptick in price comes as investors are expecting a possible approval from the U.S. Securities and Exchange Commission (SEC) on a spot bitcoin exchange-traded fund (ETF).
“With the BTC ETF lurking around the corner – which may be Jan .11 for the 14b1 consent (not s1 approval) there will be a new layer of volatility to the market,” Laurent Kssis was quoted as saying by CoinDesk.
“Due to the ease of trade and cost-effectiveness, a bitcoin ETF will attract more turnover in volumes from institutional investors currently not seen on crypto exchanges as they are not allowed to execute on these non-regulated exchanges by their compliance depts,” explained Kssis.
Kssis predicts that bitcoin could rally to $40,000 over the weekend.
“When approved, the volatility of BTC will be significant during these periods which create additional risks for investors but as well opportunities for those arbitraging. Would not be surprised if we see 40K being broken this weekend,” Kssis said.
Ether (ETH), the second largest cryptocurrency by market value, also gained over 3% on Friday.
MATIC has witnessed a notable price resurgence, surging from $0.503 to a high of $0.927 in the past month—an impressive 84% increase, ranking it among the top gainers on CoinMarketCap.
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IntoTheBlock reports a significant uptick in institutional and whale demand across the crypto sector. Notably, Polygon’s scaling solution experienced a 3,800% surge in large transactions (over $100,000) last month, contributing significantly to MATIC’s climb above $0.90 for the first time since May.
With a market cap of $8.2 billion, MATIC now holds the 13th position among cryptocurrencies. Despite this bullish trend, investors should exercise caution, considering the proximity to the July 13 wick levels, potentially indicating a formation of a double-top pattern on the daily chart, a signal of a possible trend reversal.
From an on-chain perspective, the bulls appear to be firmly in control of the Bitcoin markets in November so far. If the miners keep accumulating, the BTC price is like to reclaim the $40,000 in the weeks ahead.
The Global In/Out of the Money (GIOM) data, which groups the current BTC holders according to their entry prices, also confirms this bullish forecast.
It shows that BTC must scale the $38,600 resistance for the bulls to be confident of flipping $40,000. As depicted below, 624,090 holders had bought 309,880 BTC at an average price of $38,612. If those holders sell early, they could slow down the rally significantly.
But if that resistance level caves, Bitcoin price will likely reclaim $40,000 as predicted.
On the downside, the bears could negate the optimistic prediction if the BTC price reverses below $33,000.
But, in that case, the 2 million BTC holders who bought 604,200 BTC at the minimum price of $33,900 will mount a support wall. If those investors can HODL, BTC price will likely defend the $34,000 territory and prevent a significant bearish reversal.
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