Experts Financial News

stock has seen a buildup of fresh short position or not. To understand it we have to look at what “ short selling” means.

The government is scheduled to unveil the annual budget for the upcoming fiscal year 2025 after the conclusion of the general elections next year. In the meantime, an interim budget will be presented on a “Vote on Account" basis on February 01 of the upcoming year. The interim budget will exclusively address necessary expenditures, typically having a restricted scope and excluding significant policy alterations or the introduction of new programs.

On Thursday, the Maldivian government announced it would terminate a hydrography agreement signed with India in 2019. The decision came shortly after the newly elected administration of Mohamed Muizzu asked India to withdraw its troops from the island country–a day after he took charge. The two countries have mostly had cordial relations, with India providing administrative and infrastructure support.

Stock market today: Extending its bull trend for yet another session on US Fed rate cut buzz, Nifty IT index touched new life-time high for second day in a row on Friday. On Thursday, Nifty IT index had hit a new high of around 33,260 odd levels while Nifty IT index today climbed to a new peak of 35,655. All IT major like Tata Consultancy Services (TCS), Infosys, HCL Tech Tech Mahindra, Wipro, LTIM, etc.

As the U.S. tries to restore a key forest ecosystem in the Southeast, landowners must light more fires on private property

Sensex beyond the 71,000 mark and making 21,000 the new pincode for Nifty, FIIs (foreign institutional investors) have been pouring in over Rs 3,900 crore daily on an average in December, making the 30-pack index stronger by 4,000 points so far in the month. NSDL data shows that in the first 10 days of the month, FIIs invested Rs 39,260 crore on Dalal Street. And now with the US Fed hinting at 3 rate cuts in 2024, the market could once again see a flood of foreign money chasing Indian stocks in the new year. The sharp uptick in FII flows comes after November's Rs 9,000 crore inflow and non-stop selling in September and October months. «This market has made a high despite the fact that we have yet to see significant FII inflows.

Metal stocks surged nearly 9% on Thursday amid fall in the dollar index after the US Federal Reserve kept rates unchanged while hinting at least three rate cuts next year. While it was okay to keep a positive view on the sector, a wait-and-watch strategy for now is the road forwards, told an analyst to ET Now. Dollar has declined 2.7% in the last three months, making dollar-priced commodities such as metals a lucrative buy for importers.

Pidilite Industries Ltd. traded 0.66 per cent up at Rs 2651.1 at around 12:12PM (IST) on Friday. The stock had closed at Rs 2633.5 in the previous session.

Sanjiv Bhasin, Director, IIFL Securities, says “I would stick with the largecap banks. ICICI and Kotak are looking very good on the largecap stocks and in the midcaps, AU Bank is making a fresh move. AU Bank has arguably become one of the fastest growing small scale MFSI, which has got the license and now growing very rapidly. Their cost of money has fallen. And now with bond yields moderating, I think their MSME book will expand very fast. So I would go with ICICI, Kotak and AU Bank where I feel that there is a lot of value at these prices.” Seems like celebration for equity markets almost on a daily basis! It was no different yesterday and in fact was quite a stunning move. One of the laggard sectors like IT made a comeback, across-the-board in largecaps, smallcaps and midcaps. Any opportunities here? Welcome to Santa Claus rally. So no complaints and enjoy the party as it stands and take advantage of any weakness in the stocks because 2024 is going to herald a very strong equity market, at least till we have volatility of the elections.

Colgate-Palmolive (India) Ltd. dropped 0.07 per cent to Rs 2374.9 at 12:07PM (IST) in Friday's trade. The scrip hit a high of Rs 2408.7 and low of Rs 2371.6 so far during the session.

EID Parry(up 1.36%), Kothari Sugars & Chemicals(up 0.86%), Dalmia Bharat Sugar & Industries(up 0.83%), Mawana Sugars(up 0.68%), Balrampur Chini Mills(up 0.65%), Vishwaraj Sugar Industries(up 0.61%), Ponni Sugars(Erode)(up 0.58%), Triveni Engineering & Industries(up 0.52%), Bannari Amman Sugars(up 0.51%) and MAGADHSUGAR(up 0.47%) were among the top gainers. KCP Sugar & Industries(down 1.13%), Simbhaoli Sugars(down 1.08%), Sakthi Sugars(down 0.72%), Dwarikesh Sugar Industries(down 0.69%), DCM Shriram Industries(down 0.69%), Uttam Sugar Mills(down 0.45%), BAJAJHIND(down 0.36%) and K.M.Sugar Mills(down 0.16%) were among the top losers.

Texmaco Rail and Engineering jumped over 10% to hit a 52-week high of Rs 188.80 on the NSE after the company informed the exchanges about receiving an order for manufacturing and supply of 3,400 BOXNS wagons worth Rs 1,374.41 crore. The price action was supported by strong volume action with over 1.09 crore shares changing hands on the NSE around 10:10 am. Today's rally in Texmaco stock is its fourth in a row witnessing a rally for the fourth straight session. The multibagger railway counter has given returns of over 220% in the last 12 months, significantly outperforming the Nifty which has given returns of 15% during this time.

IPO) of Happy Forgings will open for subscription on December 19. The issue closes on December 21.

Bank of Baroda traded at Rs 219.45 on BSE at 11:26AM (IST) on Friday, down 0.25 per cent from previous close. The stock quoted a 52-week low price of Rs 146.5 and a high of Rs 222.9. Earlier, shares of the company saw a gap up opening in the morning.

The NSE Nifty index was trading 133.2 points up at 21315.9, while BSE Sensex was up 463.02 points at 70977.22 at the time of writing this report. In the Nifty index, Tech Mahindra Ltd.(up 4.30 per cent), LTIMindtree Ltd.(up 4.30 per cent), Infosys Ltd.(up 4.20 per cent), HCL Technologies Ltd.(up 3.96 per cent) and Tata Consultancy Services Ltd.(up 3.62 per cent) were among the top gainers.

foreign fund inflows and a weak greenback in the overseas markets strengthened the local unit, a recovery in crude oil prices weighed on the sentiment, forex dealers said. At the interbank foreign exchange market, the rupee opened flat at 83.30 against the dollar. It moved in a tight range of 83.32 and 83.29 in morning deals.

Tata Power Company Ltd. traded at Rs 333.5 on BSE at 11:16AM (IST) on Friday, down 0.53 per cent from previous close. The stock quoted a 52-week low price of Rs 182.45 and a high of Rs 338.35.

US Federal Reserve to cut rates next year. While foreign fund inflows and a weak greenback in the overseas markets strengthened the local unit, a recovery in crude oil prices weighed on the sentiment, forex dealers said.

Two months into its military campaign in Gaza, Israel seems to be fighting a losing battle for international support. It has lost key votes at the United Nations and even supportive powers like the United States have voiced their discontent with Israel’s conduct of the war. Mint looks at Israel’s position.

India Shelter IPO: The initial public offering (IPO) of India Shelter Finance Corporation Limited Ltd opened for subscribers on 13th December 2023 and it will remain open till 15th December 2023. So, bidding for India Shelter IPO ends today. Hence, primary market investors have just one day in hand to apply for this IPO.

SBI Cards and Payment Services Ltd. traded at Rs 772.05 on BSE at 11:01AM (IST) on Friday, up 0.56 per cent from previous close. The stock quoted a 52-week low price of Rs 690.9 and a high of Rs 932.35.