Trade Financial News

Kraft Heinz Co. said it’s “deeply disappointed” in Justin Trudeau after the prime minister threw a metaphorical tomato at the food manufacturer while discussing trade relations with the United States.

UnitedHealth Group will promote one of its top insurance executives to replace Brian Thompson, the slain CEO of its UnitedHealthcare arm

The Chinese government is trying to encourage people to spend more by ensuring that share prices will rise, ordering pensions and mutual funds to invest more in domestic stock markets

U.S. President Donald Trump took another swipe at Canada on Thursday, calling the long-standing ally “tough to deal with” and claiming the U.S. doesn’t need Canadian oil and gas.

Economic nationalism has its roots in policy makers ignoring citizens’ quest for stability, and it has even helped countries such as South Korea and China build their economies though resorting to tariffs by the Trump administration to address those issues may be a mistake, panellists at the World Economic Forum (WEF) debating ‘Rise of Economic Nationalism’ said.

geo-economic fragmentation can decrease global GDP by up to USD 5.7 trillion, giving it a bigger blow than the financial crisis of 2008 or the COVID-19 pandemic, a new study showed on Thursday. India and some other emerging economies can bear the biggest burden in the most extreme fragmentation scenario, it cautioned.

Tata Consultancy Services (TCS) and Infosys stand poised to benefit from the weakening rupee, while Bharti Airtel and ANI Technologies, Ola's parent firm, face challenges as their dollar-denominated debts rise in cost. A Moody’s report highlighted the divergent fortunes of Indian corporates amid the rupee’s sustained decline. As the rupee continues its downward slide, losing over 20% against the U.S. dollar since 2020, TCS and Infosys, both rated “Baa1 stable" by the ratings agency Moody’s, are well-positioned to capitalize on the currency depreciation. Their revenues are largely denominated in dollars, while costs are incurred in multiple currencies, including the rupee, giving them a natural advantage as the rupee weakens, Moody’s said.

Donald Trump that Scotch whisky and other goods should be spared from any tariffs by the new administration, UK finance minister Rachel Reeves said on Thursday, as per a report.

Nifty index on Thursday displayed follow-up buying after the previous session's bounce from lower levels but struggled to sustain higher levels. This pattern suggests that selling pressure persists at elevated levels, reflecting a lack of conviction among buyers. A breakdown below the immediate and crucial support at 23,000 could intensify selling pressure, potentially dragging the index toward the 22,800–22,500 range. On the upside, immediate resistance is observed at 23,300, followed by a critical hurdle near 23,500. A sustained close above these resistance levels is crucial to negate the prevailing bearish sentiment and confirm a bullish reversal, said Hardik Matalia of Choice Broking.

UltraTech Cement posted a lower-than-expected drop in profit for the December quarter, with the consolidated bottomline of Rs 1,470 crore down 17% on year, as against an expected drop of 20-30%. The country’s largest producer of cement announced earnings during market hours, and its shares surged to end nearly 7% higher at Rs 11,420.90 rupees on the NSE. While shares of Kesoram Industries ended 6.5% higher at 218.63 rupees, those of India Cements, a subsidiary of the company, ended in the red.

Bank of America CEO Brian Moynihan has dropped in a rather interesting revelation, claiming that big banks like his, will soon have to accept cryptocurrencies like Bitcoin and Ethereum for major financial transactions in the near future.

The weak results late on Wednesday came after Adidas reported strong sales and profitability, highlighting the work Puma still faces to boost its brand and take a bigger slice of the $400 billion global sportswear market.

On the BSE, Navoday Enterprises(down 15.44 per cent), SRG Housing Fin(down 13.03 per cent), Systematix Sec(down 12.18 per cent), Auto Corp Goa (down 11.10 per cent) and Puravankara (down 9.70 per cent) stood among the top losers in today's trade.

These high-performing stocks that rallied more than 10% during the session included, Go Digit General Ins(14.29%), Jagsonpal Pharm(11.97%), Cigniti Tech(11.80%), Zensar Tech(11.65%), Coforge(11.32%), Omni Axs Software (11.29%), Polymech Mac(11.00%) and Persistent System(10.56%).

GE Vernova T&D India Ltd.(up 3.66%), Karma Energy Ltd.(up 3.25%), SJVN Ltd.(up 2.65%), Torrent Power Ltd.(up 2.47%), CESC Ltd.(up 1.87%), Ravindra Energy Ltd.(up 1.79%), Indo Tech Transformers Ltd.(up 1.42%), Tata Power Company Ltd.(up 1.09%), NHPC Ltd.(up 0.91%) and Energy Development Company Ltd.(up 0.81%) stood among the top gainers.

Subscribe to enjoy similar stories. A weaker yen is typically good for Japanese exporters but could push inflation higher because the country imports much of its energy and food. The Bank of Japankicked off a global market selloff last time it raised interest rates.

Ajay Vora, Executive Vice President and Head — Equities, Nuvama Asset Management, says a consolidation phase is happening. If you're looking to invest, focus on areas where growth forecasts are improving and visibility is increasing. For example, banks are currently in a value phase, but investing in them requires a longer-term perspective. Your investment strategy will guide your choices, but there are good opportunities available in the market. What to make of this weakness in some of the financials? Everyone says the valuation is comfortable and the worse with respect to asset quality is perhaps over. The competition from MFI, etc, also has come down. Then why are people still not interested in buying some of these financials afresh? Ajay Vora: It is clearly the lack of growth. If you look at the largest private sector bank which reported the numbers, the NII growth was less than 10%, the PAT growth was around 2%. Until the time we do not get clarity on the growth, valuations may look cheap but I think that is clearly not the reason for someone to get in unless and until we get more clarity on the growth coming in the next few quarters.

Domestic benchmark index NSE Nifty ended 50.0 points at 23205.35, while the BSE Sensex closed 115.39 points up at 76520.38.

Shares of Phoenix Mills Ltd.(up 4.81 per cent), Oberoi Realty Ltd.(up 3.34 per cent), Prestige Estates Projects Ltd.(up 1.77 per cent), Macrotech Developers Ltd.(up 0.48 per cent) and DLF Ltd.(up 0.18 per cent) ended the day as top gainers in the pack.