Trade Financial News

stocks witnessed a build of fresh short positions. Lets first understand how this conclusion is reached that whether the stock has seen a buildup of fresh short position or not.

Info Edge (India) Ltd. gained 0.23 per cent to Rs 5098.75 in Thursday's trade as of 01:39PM (IST). The stock hit a high price of Rs 5141.65 and low of Rs 5060.0 during the session.

Pidilite Industries Ltd. traded at Rs 2765.45 on BSE at 01:44PM (IST) on Thursday, down 0.26 per cent from previous close. The stock quoted a 52-week low price of Rs 2250.85 and a high of Rs 2789.55.

A decade ago, global fashion companies set out to raise the pay of workers who make the clothes they sell to a living wage. It hasn’t happened. In Bangladesh, the nearly 600,000 people making clothes for Swedish giant H&M—one of the biggest retailers in this space to start talking about paying living wages—earned an average of $119 a month in the first half of 2023, excluding overtime, the latest available data shows.

Lupin share price with gains of more than 1% in morning trades scaled 52-week highs on Thursday. The stock has gained more than 90% in the last year helped by improved earnings outlook being driven by new launches and a strong pipeline of products for the US markets. The US performance of Lupin has regularly seen an uptick led by lower competitive intensity being faced by its base business and strong performance by new launches.

Investing.com-- Gold prices rose slightly in Asian trade on Thursday, but hovered below key levels as the dollar rebounded on growing doubts over exactly when the Federal Reserve will begin trimming interest rates. 

Torrent Power shot up over 13% to hit their 52-week high of Rs 1,059 on the NSE in Thursday's early trade after the company informed exchanges about signing a Memorandum of Understanding (MoU) of Rs 47,350 crore with the Gujarat government for setting up solar and hybrid power projects. This comes as part of the investment promotion activity for Vibrant Gujarat Global Summit 2024, the company filing on Wednesday, said. Under the MoU, the company will be setting up 3,450 MW of solar power projects along with 1,045 MW of Hybrid Power Projects and associated infrastructure for a 7,000 MW solar project, green hydrogen / green ammonia production facility, and capex for the distribution network. The price action was supported by strong volume action as 30.32 lakh shares traded on the NSE around 10 am. Meanwhile, the stock also saw a spurt in volumes by 2.41 times on the BSE. The stock is currently trading above its 50-day and 200-day simple moving averages (SMAs).

On the BSE, JLAInfraville&Shop(down 10.00 per cent), Fraser & Company(down 9.64 per cent), Shanti Guru Industri(down 8.61 per cent), Pratiksha Chem(down 8.18 per cent) and Infronic Sys(down 8.10 per cent) were among the stocks that plunged over 5 per cent during the session. In the Nifty pack, 30 stocks traded in the green, while 20 stocks traded in the red.

Siemens Ltd. traded 0.96 per cent up at Rs 4121.95 on Thursday at around 11:21AM (IST), while the benchmark BSE Sensex advanced 475.46 points to 71832.06. As many as 2,203 shares changed hands on the counter with a total value of Rs 0.91 crore.

Investing.com-- Most Asian currencies kept to a flat-to-low range on Thursday, while uncertainty over the Federal Reserve’s plans for interest rate cuts in 2024 saw the dollar rebound to a three-week high. 

Investing.com-- Fitch said on Thursday it had downgraded the issuer default ratings of four Chinese national asset management companies and flagged more potential downgrades on expectations of weaker government support and headwinds from a property market slump.

The NSE Nifty index traded 117.0 points up at 21634.35, while BSE Sensex was up 440.35 points at 71796.95 as of 10:39AM(IST)on January 04. In the Nifty index, NTPC Ltd.(up 3.44 per cent), Bajaj Finance Ltd.(up 3.20 per cent), Tata Consumer Products Ltd.(up 2.58 per cent), Oil And Natural Gas Corporation Ltd.(up 2.44 per cent) and IndusInd Bank Ltd.(up 2.28 per cent) were among the top gainers.

Aptech Ltd, part of the education industry, has fallen more than 30% from May 2023 highs and has taken multiple support above 240 levels and bounced back which suggests that the stock has bottomed out. Short-term traders can look to buy the stock for a possible bounce back towards 300 levels in the medium term, suggest experts. The stock which is also part of the S&P BSE Small-cap index hit a record high of Rs 422 on 30th May 2023, but it failed to hold on to the momentum. The small-cap stock underwent a price-wise correction which took the stock below 50 and 200-DMA in October 2023. The stock found support above 240 levels multiple times in November before bouncing back in December 2023.

Ambuja Cements Ltd. traded 1.49 per cent up in Thursday's trade at 10:40AM (IST). Around 217,188 shares changed hands on the counter.

At the interbank foreign exchange, the rupee opened at 83.30 against the dollar and then touched a low of 83.32, registering a fall of just 2 paise over its previous close. On Wednesday, the rupee settled at 83.30 against the dollar. The rupee rose on Wednesday on flows from a Hong Kong-based bank amounting to USD 500 billion.

Adani Power Ltd. traded 0.13 per cent down at Rs 543.9 at 10:50AM (IST) on Thursday, even as BSE benchmark Sensex gained 419.19 points to 71775.79. The stock had closed at Rs 544.65 in the previous session.

Samvardhana Motherson International Ltd.(up 1.81 per cent), Tata Motors Ltd.(up 1.7 per cent), Sona BLW Precision Forgings Ltd.(up 0.84 per cent), Mahindra & Mahindra Ltd.(up 0.6 per cent) and Ashok Leyland Ltd.(up 0.41 per cent) were among the top gainers. Tube Investments of India Ltd.(down 0.92 per cent), Maruti Suzuki India Ltd.(down 0.61 per cent), Eicher Motors Ltd.(down 0.59 per cent), Balkrishna Industries Ltd.(down 0.54 per cent) and Hero MotoCorp Ltd.(down 0.54 per cent) were the top losers on the index.

Whales Market, a new OTC decentralized exchange (DEX) on the Solana blockchain, has achieved a significant milestone with the launch of its decentralized application (Dapp) and the introduction of its native token, $WHALES, on Mainnet. This launch marks the latest venture from the LootBot team, which is highly regarded for its innovative airdrop automation Telegram Bot. Building on this foundation, the LootBot team has strategically developed Whales Market, specifically targeting the OTC trading landscape within the Solana ecosystem.

Gold rate today: After rate cut hint in US Fed meeting minutes, gold price today opened higher on Multi Commodity Exchange (MCX) at ₹62,724 per 10 gm levels and went on to touch an intraday high of ₹62,771 per 10 gm within a few minutes of commodity market's opening bell today. While climbing to the intraday peak, the yellow metal price came close to the lifetime high of ₹64,065 levels. MCX gold rate today is around ₹1,300 away from the record high.

Macrotech Developers (Lodha) jumped between 7 to 19 per cent and traded among the top gainers in the index at that time. Amidst a generally positive market sentiment and widespread upward movements across various sectoral indices, the Nifty Realty index notably stood out Thursday morning, demonstrating remarkable outperformance compared to its counterparts on the NSE.

BSE filing, Poonawalla Fincorp said its total disbursements during Q3FY24 were highest ever at approximately ₹8,730 crore. The total disbursements jumped by a robust 159% from ₹3,369 crore in the same quarter last fiscal year. It was up 12% compared to disbursements of ₹7,807 crore in Q2FY24.