Experts Financial News

Joe Biden on Friday signed an executive order threatening penalties for financial institutions that help Russia circumvent sanctions, the White House said in a statement, as Washington seeks to increase pressure on Moscow. The order also gives Washington the ability to broaden import bans of certain Russian goods, such as seafood and diamonds, the White House said.

White-collar hiring in the country declined 6% on year in 2023, pulled down by sectors such as IT services, BPO/ITeS, retail, FMCG, education, and healthcare, show data put together by online jobs platform Naukri.com exclusively for ET. Companies in several sectors tightened their hiring funnel amid global macroeconomic headwinds and prolonged geopolitical uncertainties even as sectors that have seen business growth in the last one year, including oil & gas, power, infrastructure, energy, BFSI, travel, and real estate, recorded double-digit growth in hiring numbers, data showed.

NEW DELHI/MUMBAI: India took a step a closer to instant settlements in share trading on Friday, with the stock market regulator proposing it as an option in addition to the existing Transaction+1 (T+1) settlement cycle. Market participants said retail investors making delivery-based trades stand to benefit if the proposal in the regulator’s consultation paper makes it to the final stage, since they will receive proceeds instantaneously. This would be especially beneficial for investors selling shares since they will immediately receive money, which can be reinvested elsewhere.

₹57,313 crore in Indian shares in the month through 21 December, according to depository data. This is the highest inflow in any month since they pumped in ₹62,016 crore in December 2020, the record for any month.

New York Times said. The report, substantiated by satellite images claims to confirm the concerns around China's old base Lop Nur. The base where China detonated its first atomic bomb nearly 60 years ago has recently seen some massive infrastructural installments which include a deep vertical shaft.

As we approach the New Year, Netflix bids farewell to some cinematic treasures. Here's a preview of nine outstanding movies making their exit by the end of December 2023. 1. Captain Phillips (January 1)

stake in IIFL Finance for Rs 1,198 crore through an open market transaction. Fairfax Group through its affiliate FIH Mauritius Investments Ltd have sold the shares of IIFL Finance Ltd.

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Transformers & Rectifiers India (TRIL), one of the leading manufacturers of transformers, have skyrocketed 19.6% in today's trade to record a new lifetime high of ₹226 apiece. This impressive rally was attributed to the company's successful completion of a dynamic short circuit on 105 MVA Transformer. “Transformers and Rectifiers has successfully completed the most stringent ‘Dynamic Short Circuit Test’ on 105 MVA, 400/√3/220/√3/33 kV class single phase auto transformer, forming a bank of 315 MVA.

Rise of Somali Pirates: Soon after MV Ruen, a Malta-flagged merchant ship, was hijacked by pirates earlier this month in the Arabian Sea, there were concerns about the return of Somali pirates to international sea routes. Amid rising fears, Indian shipping regulator Director General of Shipping has advised seafarers to be cautious, according to a report by Business Standard. But the precautionary measures may not be easy on the pocket, say experts The alternative route adds 12-14 days of sailing time and a 30-40 per cent increase in freight costs, impacting prices.

Hero MotoCorp, Spandana Sphoorty, Larsen & Toubro, Dalmia Bharat, Tata Consumer, Syrma, Coal India, Prestige, Zomato, L&T Technology Services (LTTS) , Oil India, Sun Pharmaceutical, Kajaria Ceramics stand among top 14 picks of Motilal Oswal Broking and Distribution for 2024. The Brokerage expects India market outperformance to continue during 2024 led by strong macro and micro fundamentals.

Shares of Tata Motors Ltd.(up 2.23 per cent), Hero MotoCorp Ltd.(up 2.22 per cent), Maruti Suzuki India Ltd.(up 2.04 per cent), Bajaj Auto Ltd.(up 2.01 per cent) and MRF Ltd.(up 1.67 per cent) ended the day as top gainers in the pack. On the other hand, finished as the top losers of the day.

rupee posted its biggest weekly loss in over two months, even as it closed stronger on Friday tracking a rise in its Asian peers and aided by dollar sales from large foreign banks. The rupee ended at 83.14 against the U.S. dollar, compared to its previous close at 83.2775. The rupee's gains on Friday were aided by dollar sales from two large foreign banks, likely on behalf of custodian clients, a foreign exchange at a private bank said. For the week, however, the currency declined 0.16%, its worst week since Oct.

Nakoda Group Of Industries Ltd.(up 6.67%), Patanjali Foods Ltd.(up 4.92%), Dodla Dairy(up 4.84%), Umang Dairies(up 3.98%), Adani Wilmar Ltd.(up 3.97%), Jyothy Labs(up 2.28%), Bikaji Foods International(up 2.15%), Britannia Industries(up 2.01%), Heritage Foods(up 1.65%) and TATA CONSUMER PRODUCTS(up 1.38%) stood among the top gainers. Varun Beverages Ltd.(down 4.08%), Dangee Dums Ltd.(down 2.17%), Vadilal Industries Ltd.(down 2.17%), Hatsun Agro Products Ltd.(down 0.95%), Gillette India Ltd.(down 0.93%), Marico Ltd.(down 0.77%), Parag Milk Foods Ltd.(down 0.61%), Tasty Bite Eatables Ltd.(down 0.41%), Prataap Snacks(down 0.30%) and ADF Foods(down 0.25%) were among the top losers of the day.

On the BSE, Chandra Bhagat Pharm(down 14.48 per cent), Gati(down 12.37 per cent), Wagend Infra(down 8.16 per cent), Lorenzini Apparels(down 6.91 per cent) and Ajcon Global(down 6.08 per cent) stood among the top losers in today's trade. In the Nifty pack, 39 stocks closed in the green, while 11 stocks ended in the red.

K.M.Sugar Mills(up 2.25%), EID Parry(up 1.17%), DCM Shriram Industries Ltd.(up 1.01%), Rana Sugars(up 0.85%), Balrampur Chini Mills(up 0.78%), Simbhaoli Sugars Ltd.(up 0.54%), MAGADHSUGAR(up 0.46%) and Shree Renuka Sugars Ltd.(up 0.32%) stood among the top gainers. Triveni Engineering & Industries(down 2.33%), Uttam Sugar Mills(down 1.45%), AVADHSUGAR(down 1.37%), Rajshree Sugars & Chemicals(down 1.19%), Bannari Amman Sugars(down 1.16%), Ugar Sugar Works Ltd.(down 0.98%), BAJAJHIND(down 0.89%), Kothari Sugars & Chemicals Ltd.(down 0.85%), Sakthi Sugars(down 0.69%) and Dalmia Bharat Sugar & Industries(down 0.43%) were among the top losers of the day.

Wipro, amid mixed global cues. Domestic market sentiment has been broadly positive lately on healthy macroeconomic prints. Also, global inflation going down globally and the US Federal Reserve saying they won't raise interest rates anymore have made investors even more positive.

₹1213. We are of the view that equity and other asset classes, such as debt, real estate, or gold, may provide investment opportunities during the calendar year 2024, which would give a decent return in the coming 2 to 3 years.

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The retail portion received consolidated bids of 2,396,000 share bids, while the non-institutional investors (NIIs) received 328,000 bids. The qualified institutional buyers (QIBs) were yet to open the account around 1 pm for this SME IPO issue.

Mileen Vasudeo, Senior Technical Research Analyst, Arihant Capital Markets, says “one recommendation is from the pharma pack itself. It is a buy on AstraZeneca, which is currently trading at Rs 1,570; strong consolidation breakout with huge volumes. Now if you keep a stop loss of Rs 1,450, on the higher side, we expect the stock to test Rs 1,810-1.920 levels. The second stock is Craftman Limited, currently trading at somewhere around Rs 5,480 or 5,490. Keep a stop loss of Rs 5,350 on the higher side as it can test the levels of Rs 5,790 and 6,000 in a couple of weeks’ time.” How does the trade look like on the Nifty and Bank Nifty after flushing out a lot of stop losses day before, people coming back yesterday? Mileen Vasudeo: The day before yesterday, we had a good fall in Nifty which flushed out many people over here. But then again if you see there was a strong support at lower levels and again we have bounced back. So our view is that unless and until the index that is Nifty does not breach 20,850 which was last week’s low, there is a fair chance Nifty is likely to head higher to test the levels of 21,500 to 21,800 levels.