Experts Financial News

Stock market today: Tata Power shares have been in continuous uptrend after ushering into the new financial year 2023-24. Tata Power share price bottomed out at around ₹185 apiece levels at the end of March 2023. Since, then it has been climbing new highs on a regular basis.

Secured Overnight Financing Rate (SOFR), a global benchmark used to determine the price of US dollar-denominated loans and derivatives, jumped to an all-time high of 5.39%, Bloomberg reported. The development occurred due to turbulence in US funding markets and overnight repo transactions amid quantitative tightening by the Federal Reserve.

India’s personal computer market is projected to close 2023 as one of its dullest years, with shipments of 12-13 million units as against 14.8 million each in 2022 and 2021, according to estimates from International Data Corporation (IDC). Shipments of PCs including laptops were lower at 10.3 million units in 2020, when sales were disrupted by the pandemic.

Reliance Industries as its largest exposure in Indian stocks with a 4.5 percent weightage, followed by ICICI Bank (3.5 percent), Godrej (2.5 percent), Axis Bank (2.5 percent), Mahindra & Mahindra (2.5 percent), Larsen & Toubro (1.5 percent), UNO Minda (1.5 percent), and Fortis (0.5 percent). Nomura also outlined the potential risks for the Indian stock market in 2024 from the China rotation and stretched government finances leading to populism, higher taxes, and lower government capex.

₹1,200 apiece on NSE, a premium of 140% to the issue price of ₹500 per share. This was the best listing in the Indian stock market since November 2021.

Stock market today: Birlasoft shares are one of the multibagger stocks that Indian stock market has delivered in 2023. In year-to-date (YTD) time, this IT stock has risen from around ₹297.50 to ₹650 apiece levels, delivering around 120 per cent return to its positional investors. However, it seems that Birlasoft stock has still some steam left.

Hemang Jani, independent market expert, says “while midcaps and smallcaps had run up earlier, the Nifty, the banks and many stocks which are part of Nifty, did not. It would be a great idea to look at some of the Nifty-based stocks, be it in banks, be it auto, domestic consumption, some of the FMCG names. ITC has started moving after a long time, Titan. So consumption and capital goods and banks are going to be the main pillars on which you can build your pre-election rally portfolio.” Why did the Adani Group of stocks really make a comeback in the last two days? If you look at the chronology of events, first we had the Supreme Court withholding the order but the tone of the verdict was that they need to look at what actually are the facts and we should not go by what Hindenburg said. That gave a lot of relief to market participants, followed by the state election outcome where the BJP turned out to be a major winner and much better than market expectations.

DOMS Industries are in high demand in the unlisted market. The issue will open for subscription on December 13 and close on December 15. The price band for the Rs 1,200-crore offer has not been announced yet.

Nifty recorded a new all-time high daily in December, the 50-stock index was still not among the top-performing global indices in November, falling behind benchmark indices in developed markets viz US, UK, Japan, France, Switzerland and Germany. Among the emerging markets, Nifty was behind Taiwan, Korea, Brazil, and South Africa while remaining ahead of China. Nifty rose 5.5% in November, witnessing a turnaround after hitting a low of 18,989.15 on November 1, led by gains in auto, healthcare, and realty stocks.

Bitcoin futures open interest on the Chicago Mercantile Exchange (CME) – has seen a spike rising from $2.20 billion on September 30th to $5.09 billion today, according to data from Glassnode.

SBI Cards and Payment Services Ltd. traded at Rs 749.8 on BSE at 12:58PM (IST) on Wednesday, up 0.21 per cent. The stock quoted a 52-week low price of Rs 690.9 and a high of Rs 932.35.

Kim Jong Un made an impassioned plea to the women of his country to have more children and raise them as communists. During the Fifth National Conference of Mothers in Pyongyang, Kim Jong Un stressed the need to reverse the declining birth rates in the country.

United Spirits Ltd. traded 1.08 per cent lower in Wednesday's session at 12:53PM (IST). The stock opened at Rs 1078.0 and has touched an intraday high and low of Rs 1078.0 and Rs 1056.85, respectively, during the session so far.

Varun Beverages Ltd. gained 0.49 per cent to Rs 1066.85 in Wednesday's trade as of 12:48PM (IST). The stock hit a high price of Rs 1075.9 and low of Rs 1056.55 during the session.

Lupin Ltd. slipped 0.88 per cent to Rs 1247.6 in Wednesday's trade as of 12:43PM (IST). The stock hit a high price of Rs 1266.45 and low of Rs 1244.65 during the session.

I sold my residential house in June 2022 which was acquired by me in 2014. I invested the fully indexed long-term capital gains in another residential house in December 2022 to claim exemption from tax on long-term capital gains. Now I am planning to sell the new house, bought in December 2022 in January 2024. What are the tax implications of this transaction? As per Section 54 of the Income Tax Act, the exemption in respect of long-term capital gains on the sale of a residential house held for 2 years or more can be claimed if the indexed long-term capital gains are invested for the purchase of another residential house within two years from the sale of the original property.

Angel One share price spiked over 10% to hit a 52-week high on Wednesday after the stock broking company posted an upbeat monthly business update registering a sharp 51% year-on-year (YoY) rise in its client base during November. Angel One shares rallied as much as 10.33% to a fresh 52-week high of ₹3,246.00 apiece on the BSE. In a regulatory filing, Angel One reported a 51.3% YoY increase in its client base at 1.85 crore in November 2023 from 1.22 crore in the same month last year.

cryptocurrency, jumped over 4.2% to $43,671 in Wednesday's trade. Experts say this upward price shift is likely a response to heightened interest from institutional investors and an overall optimistic market sentiment regarding developments in 2024. Meanwhile, Ethereum, the second largest cryptocurrency, surged 1.6% to $2,270 amid a broader rally in the crypto markets. The global cryptocurrency market cap also increased 2.65% to around $1.59 trillion in the last 24 hours. «BTC has sustained its upward momentum for the fifth consecutive day. This surge is primarily fueled by speculation surrounding the approval of a Bitcoin spot ETF, with investors and traders anticipating approval in 2024,» said the CoinDCX Research Team. Additionally, favorable macroeconomic conditions and increasing inflows contribute to the overall rise in market capitalization, it said.

Jubilant Foodworks Ltd. traded 0.02 per cent up at Rs 556.5 at around 12:22PM (IST) on Wednesday. The stock had closed at Rs 556.65 in the previous session.

Trent Ltd. dropped 0.32 per cent to Rs 2865.55 at 12:33PM (IST) in Wednesday's trade. The scrip hit a high of Rs 2913.15 and low of Rs 2862.3 so far during the session.

Hindustan Zinc surged over 2% to Rs 331.8 in Wednesday's trade on BSE after the company announced a second interim dividend of Rs 6 per share for the current financial year. The dividend outgo amounts to about Rs 2,535.19 crore.