Gap Financial News

Nifty 50 ended on a flat note after a volatile session on Wednesday as mixed cues from global markets triggered profit booking. Rollover of positions to the May derivative series ahead of the expiry of the April series added to the volatility. While Nifty 50 ended flat at 22,434.65 points, it has formed a small positive candle on the daily chart with a gap down opening and with an upper shadow.

₹5,600-5,990 a quintal against a minimum support price of ₹5,440, while that of tur is quoted at ₹10,600-10,900 in key mandis of Karnataka and Maharashtra, as per data from spot traders. “Initially yellow pea import was till 31 March.

Tata Elxsi Ltd. traded at Rs 8029.85 on BSE at 12:02PM (IST) on Wednesday, up 4.31 per cent from previous close. The stock quoted a 52-week low price of Rs 5976.05 and a high of Rs 9191.1.

Ambuja Cements Ltd. traded at Rs 638.5 on BSE at 12:12PM (IST) on Wednesday, up 0.63 per cent from previous close. The stock quoted a 52-week low price of Rs 363.8 and a high of Rs 639.95.

Lupin Ltd. traded at Rs 1615.9 on BSE at 11:31AM (IST) on Wednesday, up 0.37 per cent from previous close. The stock quoted a 52-week low price of Rs 644.65 and a high of Rs 1703.8.

Crompton Greaves Consumer Electricals Ltd. rose 0.44 per cent to Rs 281.0 at 10:50AM hours (IST) on Wednesday. Earlier in the day, the stock saw a gap up start to the session. As per data available on BSE, total traded quantity on the counter stood at 82,149 shares with a turnover of Rs 2.3 crore till 10:50AM (IST). The stock traded at a price-to-earnings (P/E) multiple of 41.63, while the price-to-book value ratio stood at 7.01.

As domestic growth prospects remain promising, backed by capital investments and policy support, Ambit Asset Management is betting on three major themes to play on India’s story. Mass consumption, manufacturing and industrial, and exports are the three major themes that the asset management firm is bullish on. “We are becoming increasingly positive on the mass consumption theme, driven by the recovery in the Hindi belt, deflation in raw material prices, and large companies taking aggressive price actions,” said Bhargav Buddhadev, fund manager at Ambit Asset Management, in an interview with ETMarkets. Buddhadev holds a positive outlook on the manufacturing and industrial theme, as he anticipates a revival in private capital expenditure. Lastly, he favors the export theme, given the government's implementation of various policy initiatives such as signing FTAs and incentivizing several sectors through PLI schemes. Edited excerpts:

dollar was on the front foot on Wednesday, pinning the yen near its lowest its decades though the heightened threat of currency intervention by Tokyo capped further declines in the Japanese currency. The yuan was steady after a private-sector survey showed that China's services activity growth accelerated in March, in a sign sentiment was staging a tentative recovery in the world's second-largest economy.

Xuirin Finance’s launch of DeFi Debit Cards marks a pivotal moment in the decentralized finance sector. It introduces a groundbreaking shift towards integrating traditional financial practices with cutting-edge decentralized technologies. These innovative cards usher in a new chapter in a multi-billion-dollar industry, taking a significant stride in harmonizing traditional financial operations with the dynamic realm of decentralized finance.

Trent Ltd. traded at Rs 3898.2 on BSE at 12:17PM (IST) on Tuesday, up 0.32 per cent from previous close. The stock quoted a 52-week low price of Rs 1307.05 and a high of Rs 4243.65.

«Top three models in the industry are from Maruti Suzuki, so very positive. We are very hopeful of the next year as well. Overall, for the industry though I think the projection for the industry is the single digit growth and we do hope that we will try to grow a little faster than the industry and hopefully it should be another good year for Maruti Suzuki,» says Shashank Srivastava, Senior Executive Officer, Maruti Suzuki India Ltd. What are your expectations from next fiscal year 2024-25? See, this year which just went by the fiscal year 2023-24 has been pretty good for the industry. First time industry crossed the four million mark. Maruti Suzuki grew faster than the industry so we added market share. So, it has ended on a really positive note.

Havells India Ltd. traded at Rs 1548.9 on BSE at 10:20AM (IST) on Tuesday, up 2.31 per cent. The stock quoted a 52-week low price of Rs 1158.5 and a high of Rs 1590.9. Earlier in the day, the stock saw a gap up opening.

Indian Oil Corporation Ltd. gained 2.09 per cent to Rs 172.75 in Tuesday's session as of 10:25AM (IST) even as the equity benchmark Sensex traded 119.64 points lower at 73894.91. Earlier in the day, the stock witnessed a gap up start to the session. The stock quoted a 52-week high price of Rs 196.8 and a 52-week low of Rs 76.76 on NSE. Around 402679 shares changed hands on the counter till 10:25AM (IST).

exchange-rate volatility, repeating his warning to yen bears as Tokyo tries to prevent a destabilising fall in the currency. Suzuki stopped short of threatening to take «decisive action» against excessive moves, language the minister used last week when the yen slumped to a 34-year low, suggesting officials are keeping their powder dry as they watch how currency moves play out.

buy India, sell China" has reached an inflection point for some investors. Lazard Asset Management, Manulife Investment Management and Candriam Belgium NV are paring exposure to India after a record-breaking rally. They’re pivoting to former favourite China, as Beijing’s support for its economy spurs a recovery in industrial profit and manufacturing.

The movement to adopt state auto-IRAs has taken another step forward with new legislation in Washington to address the retirement savings gap for millions of its residents.

The general take on India’s rapid economic growth is that it’s powered by the government’s capex push. But a recent report questions this narrative, saying it underestimates the role of consumption. Mint unpacks the investment versus consumption debate.

Ever since the federal government announced its decision to place caps on temporary residents, economists have been talking about how the move could potentially compel businesses to invest more on technology instead of relying on “cheap labour” from abroad, which in the long run should help boost Canada’s struggling productivity rate.

BlockDAG (BDAG) is blowing up in the presale market, having already secured $9.9 million and eyeing a significant 1566% ROI potential for its early investors. The current SEI price prediction for 2024 anticipates SEI rising by 230.32% to reach $2.80 by April 25, 2024. This is supported by positive market sentiment, with the Fear & Greed Index indicating "Extreme Greed" at a level of 83.

South Korean technology giant Samsung Electronics has fallen behind in the artificial-intelligence race—at least in the first heat. It would be foolish to count it out, though. Recent signs indicate it might be narrowing the technological gap with rivals SK Hynix and Micron in high-performance AI memory chips.

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