Trade Financial News

Canada’s personal tax rates are too high, as many of us realize. There are numerous data sources that consistently put this country’s personal tax rates amongst the highest on Earth. Yes, there are countries with higher marginal personal rates, but there are many more that are lower. Most Canadians, however, are more often concerned about our largest and most important neighbour — the United States.

Home Depot (NYSE:HD) stock is trading modestly higher in early New York trading on Thursday after several bullish moves by sell-side analysts.

₹1,690 per share in today's trade. This heavyweight contributed a substantial 30.86 points to the overall rally witnessed in the index. Also Read: How will HDFC Bank, Axis Bank, SBI and others perform in 2024? 5 key trends that will determine banks' performance Similarly, Bajaj Finance shares experienced a noteworthy surge of 4.34%, reaching ₹7,705 apiece, following the release of the company's Q3FY24 update.

Next has warned supplies of its products could be delayed if disruption to shipping in the Red Sea continues. Attacks by Houthi rebels on vessels in one of the world's busiest shipping lanes have resulted in firms avoiding the area and taking longer routes.

Eli Lilly & Co. (NYSE:LLY) added 4.3% Wednesday, marking its strongest performance in two months, following Bank of America's designation of the drugmaker as its top pick among large cap biopharmaceutical companies for 2024.

Apple (NASDAQ:AAPL) shares are down 4.3% in the first trading week of 2024 after Barclays cut the tech giant's rating, citing weak demand for iPhone 15.

Stock Trader's Almanac analysts noted today that despite last year's significant rally in the stock market, the anticipated Santa Claus Rally has failed to materialize this year.

Bulls are piling into European stocks, creating near-term risks after a strong rally in the fourth quarter, according to Citigroup Inc. strategists.

Cathie Wood has started buying Tesla Inc. shares after selling them for most of last year. Her purchases come at a time when Wall Street’s outlook on the electric-vehicle maker is darkening rapidly.

Siddhartha Khemka, Head-Retail Research, MOFSL, says “the quarterly results would be the next trigger for the market. In terms of overall valuations, we see that markets are comfortable, especially the large caps. The Nifty is trading at a one-year forward PE of 19-19.5, which is still at a discount to its last 10-year average of 20 times. We see there is room for the market to move up given that quarterly results or the corporate earnings have been pretty strong and that continues to be the case.” What is your view on the market itself, the start has not been the most euphoric because we have been consolidating. Do you think this is going to be the nature at least for the next few weeks or months going forward that there would be a bit of sideways move? Siddhartha Khemka: If you look at the market view, after two consecutive months of sharp up move, Nifty moved by almost 5% in November, followed by 8% move in December. The start of the year has been a bit sombre because the market is waiting for fresh triggers. There were the meeting minutes from the Fed, which gave out some clarity as to when this Fed rate cut could happen, which has excited the market the most in December.

Investing.com — The U.S. dollar retreated from the previous session’s three-week peak in early European trade Thursday as traders digested the minutes of the Federal Reserve’s December meeting ahead of weekly jobless data.

Investing.com — European stock markets rose Thursday, rebounding after recent losses as investors digested regional inflation data and the outlook for central bank rate cuts. 

On the allotment date, investors get to know about the number of shares allotted to them as against the bids made. They can check the allotment status through the BSE or by visiting the registrar's website. Here's how you can check the status on BSE. The allotment status can also be checked by visiting the official website of the registrar to the issue which is Skyline Financial Services in this case. Step 1: Visit the IPO Allotment Status page on Skyline Financial Services website Step 2: Select IPO from the dropdown Step 3: Put the application number and enter captcha and 'Submit'. Also Read: 5 expected IPOs in January that will spark primary market momentum in 2024

Rajat Rajgarhia, Director, Motilal Oswal Financial Services, says “one thing that we got taught last year was that while top-down, India is very good, the opportunities on the bottom-up are fantastic. If you pick the right sectors, right stocks, there are many compounders, there are many large ones in the making and that is where the effort is mainly focussed upon which is what last year's index was 20%, but the broader market were a lot larger. I do not see that pattern changing, neither this year, nor for the next few years to come.” 2023 was like a great year, it may not repeat itself. So, what should be the basic approach for 2024 — capital preservation or appreciation? Rajat Rajgarhia: When you look at equities as an asset class, you always want appreciation. And if you look at the index as a year, for the year last year, we were up about 18-20%.

Rahul Sharma, Director & Head — Technical & Derivatives Research, JM Financial Services, says “there are two sectors which clearly are looking very good and are on our buying list. The first one is chemicals. We feel there is more upside to it given the last two years of underperformance. The second sector which looks good is the IT space. IT has taken a beating over the last few sessions, but we feel another 2-3% down on the IT index and it would again come into the buying zone. These are the two sectors where we are looking to cherry pick and buy stocks on the long side. There is a bit of pharma also coming into play where we are seeing selective buying. So, defensives are the ones to go for.” It is a day of the weekly options expiry for at least the Nifty now and it seems like it is likely to be a bit more on the positive side because the last two-three days was all about profit booking and consolidation. Rahul Sharma: We have seen a dip at the beginning of the year and now I think Nifty is ready to propel towards the 22,000 mark.

₹1,650.7 apiece in today's trade, breaking its previous one-year peak of ₹1,618. This uptick in shares came after the bank released its quarterly update for 3QFY24 on Wednesday. For the December quarter, the bank's net advances grew by 20% to ₹3,26,741 crore as compared to net advances of ₹2,72,754 crore in Q3FY23.

₹1.44 ­lakh crore in calendar year 2023, led by 57 mainboard initial public offerings (IPOs) that collectively injected ₹49,434 crore into markets, and 45 qualified institutional placements (QIPs) that raised ₹54,350 crore, reported Business Line quotingprimedatabase.com. The mop­up from QIP is 363 per cent higher than the ₹11,743 crore raised in 2022. QIPs were dominated by financial services and engineering companies, with Bajaj Finance raising ₹8,800 crore, accounting for 16 per cent of the total amount.

South Korea’s Financial Services Commission (FSC) has announced a proposal to amend its Enforcement Decree of the Credit-Specialized Financial Business Act, aiming to ban crypto purchases with credit cards.

PI Industries Ltd. traded 0.83 per cent lower in Thursday's session at 01:23PM (IST). The stock opened at Rs 3488.6 and has touched an intraday high and low of Rs 3488.6 and Rs 3419.65, respectively, during the session so far.

Avenue Supermarts Ltd. traded 0.81 per cent lower in Thursday's session at 01:29PM (IST). The stock opened at Rs 3965.0 and has touched an intraday high and low of Rs 3965.0 and Rs 3890.0, respectively, during the session so far.

On Thursday, realty stocks jumped up to 19% with Sobha taking the lead. The soared jumped on a favourable view by Motilal Oswal which has picked the counter as its top bet for CY2024. Others including Godrej Properties, Lodha, DLF, and Swan Energy traded up between 9% and 2% around 12:15 pm. Also Read: Sobha shares jump over 19%, hit 52-week high. Here's why https://economictimes.indiatimes.com/markets/stocks/news/sobha-shares-jump-over-19-hit-52-week-high-heres-why/articleshow/106536137.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst The Nifty Realty index was the top performing index on the day with all the stocks trading in the green.