Trade Financial News

Fed Chair Jerome Powell has left little chance for a Santa rally in global equity markets. While the Dow Jones recorded its worst day in over four months, the Sensex fell more than 1,100 points, nearing the 79,000 mark. The market had already priced in the impact of a 25 basis point rate cut but was left concerned after the dot plot was revised significantly higher, with only two cuts now forecast for 2025, half of what was expected in September. According to the current projections, 2026 is also likely to see just two cuts, down from four previously.

Tube Investments of India Ltd. 0.51 per cent to Rs 3730.75 in Thursday's trade. It hit a high of Rs 3735.00 and low of Rs 3673.00 during the session. On the technical charts, the 200-DMA of the stock stood at Rs 3934.24, while the 50-DMA was at Rs 3953.21. If a stock trades above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades below 50-DMA and 200-DMA, it is considered a bearish trend and if trades between these averages, then it suggests the stock can go either way.

Marico Ltd. rose 0.52 per cent to Rs 638.25 in Thursday's trade. It hit an intraday high of Rs 640.00 and low of Rs 629.90, respectively, during the day. The stock quoted a 52-week high price of Rs 719.80 and low of Rs 486.75.

Alberta’s premier responded to President-elect Donald Trump’s trolling of Canada by saying the trade deficit with the country is due to billions of raw materials being sent south which creates trillions of wealth in America

Jaiprakash Power Ventures Ltd.(up 5.78%), NLC India Ltd.(up 2.68%), RattanIndia Power Ltd.(up 2.46%), CESC Ltd.(up 1.43%), Indowind Energy Ltd.(up 0.91%), Karma Energy Ltd.(up 0.36%), Gujarat Industries Power Company Ltd.(up 0.15%), GE Power India Ltd.(up 0.08%) and GE Vernova T&D India Ltd.(up 0.05%) were among the top gainers.

The NSE Nifty index was trading 233.05 points down at 23965.8, while BSE Sensex was 844.93 points at 79337.27 at the time of writing this report.

One MobiKwik Systems skyrocketed 14% in early trading today to a high of Rs 605 on the BSE, having surged 37% in two days after posting strong listing gains on Wednesday. Meanwhile, from its upper price band of Rs 279, the stock has already posted returns of 117%. The shares of MobiKwik debuted on the exchanges with a premium of 58.5% on Wednesday.

«For instance, if he starts cutting taxes, we may well find ourselves in a situation where the bond market falls and we could end up with the bond vigilantes having a go at bond markets,» says Richard Harris, Port Shelter Investment. I wanted to begin by discussing the implications the hawkish stance will have on the emerging markets because dollar has strengthen now to 108 levels. There is again a flow expectation which is expected to reverse back into treasury or US equities at the most. What do you make of the implications on the other asset classes at this point of time? Richard Harris: Well, at the moment the dollar is on a tear and that is going to affect other asset classes. Traditionally emerging markets are expected to do worse with a stronger dollar and that is mainly for monetary systems because of course if they are exporting to the US, it should actually make things better. But the prevailing narrative is that a stronger dollar is less likely to be positive for emerging markets and at the moment with the way that we have seen the Fed going in the last few hours, it is likely that interest rates are going to stay higher than people think and the dollar will stay higher than people think.

Bandhan Bank Ltd. traded 0.15 per cent at Rs 163.75 at 10:37AM (IST) on Thursday, even as BSE benchmark Sensex 861.27 points to 79320.93. The stock had closed at Rs 164.00 in the previous session. The stock quoted a 52-week high and 52-week low of Rs 263.15 and Rs 160.30, respectively.

HDFC Securities has an add call on Mastek with a target price of Rs 4000. The current market price of Mastek is Rs 3230.4. Mastek, incorporated in 1982, is a Small Cap company with a market cap of Rs 9971.70 crore, operating in IT Software sector. Mastek's key products/revenue segments include I T Services for the year ending 31-Mar-2024.

₹550-crore worth Sanathan Textiles IPO will remain open for bidding till December 23. The price band for the IPO is set in the range of ₹305 to ₹321 per share.Sanathan Textiles’ business is divided into three separate yarn business verticals, consisting of polyester yarn products, cotton yarn products and yarns for technical textiles and industrial uses.The IPO lot size is 46 shares with a minimum investment amount required by retail investors is ₹14,766.Sanathan Textiles is a combination of fresh issue of 1.25 crore equity shares aggregating to ₹400 crore and an offer-for-sale (OFS) component of 47 lakh shares worth ₹150 crore.

Bank of Baroda (BoB) shares will remain in focus on Thursday after the lender’s board approved raising Rs 10,000 crore through long-term bonds to finance infrastructure and affordable housing projects. «Board of directors of Bank of Baroda at its meeting held today i.e 18.12.2024 interalia considered & approved raising of long-term bonds for the financing of infrastructure and affordable housing aggregating to total size up to Rs 10,000 crore in single or multiple tranches during FY 2024-25 and beyond if found feasible,» Bank of Baroda said in an exchange filing.

Disclaimer: This is an AI-generated live blog and has not been edited by LiveMint staff. Nifty 50 Today Live Updates: The NIFTY GS 4 8 Yr at (0.02%), NIFTY GS 11 15 Yr at (-0.09%) & NIFTY GS 15 Yr Plus at (-0.12%) are currently the top performing sectors among the Sectoral Indices. While NIFTY Metal at (-2.19%), NIFTY India Digital at (-2.19%), NIFTY IT at (-2.11%) are currently the low performing sectors Nifty 50 Today Live Updates: The Nifty 50 opened at 23877.15 (-1.33%) , -321.7 points lower than the previous closing.

“GIFT City AIF is an efficient way for international investors to access the Indian markets. It takes away the need to open an account in India as investors can invest directly in US dollars in a GIFT fund, that in turn invests into the Indian markets,” says Rajesh Cheruvu – MD and CIO, LGT Wealth India. In an interview with ETMarkets, Cheruvu said: “NRIs could look at rental yield and Infra yield funds offered by various AIFs in India, these funds offer steady cash flows on maturity these funds tend to sell assets into InvIT or ReITs,” Edited excerpts:

State Bank of India (SBI) fell by 2.2% on Thursday to an intraday low of Rs 820.10 on the BSE as the company announced the appointment of Rama Mohan Rao Amara as the Managing Director (MD) of the bank. “Vide Notification No. 2/1/2024-BO.I dated 18.12.2024, issued by Department of Financial Services, Ministry of Finance, Government of India, it has been notified that- “In exercise of powers conferred by clause (b) of section 19 read with sub-section (1) of section 20 of the State Bank of India Act, 1955 (23 of 1955), the Central Government hereby appoints Shri Rama Mohan Rao Amara, Deputy Managing Director, State Bank of India as Managing Director in State Bank of India,” said the company in its filing to the exchange.

Lupin will remain in focus on Thursday after the drugmaker received approval from the US Food and Drug Administration (FDA) for its abbreviated new drug application (ANDA) for HIV tablets emtricitabine and tenofovir alafenamide tablets, 200 mg/25 mg. «We wish to confirm that the Company has received approval from the United States Food and Drug Administration (U.S. FDA) for its Abbreviated New Drug Application (ANDA) for Emtricitabine and Tenofovir Alafenamide Tablets, 200 mg/25 mg, to market a generic equivalent of Descovy® Tablets, 200 mg/25 mg of Gilead Sciences, Inc,» Lupin said in an exchange filing.

Subscribe to enjoy similar stories. If every cloud has a silver lining, the glow around India’s data that shows November’s trade deficit at a record high of $37.9 billion is the remarkable performance of service exports. According to provisional numbers released by the government, service exports are projected to overtake merchandise exports in November 2024.

delinquencies in microfinance loans was mainly due to factors such as political disruptions, weather events, and excessive lending, according to industry executives speaking at a webinar hosted by rating agency Icra. Rural households have increasingly prioritised essential expenses and secured loan repayments over microfinance obligations in recent months, contributing to rising defaults. However, executives are optimistic about an improvement in the sector's performance in the next fiscal year.

Venture investors tracking this space mostly talk about the under penetration of the Indian equities market and the growth of the economy as the reasons for investing in new players, despite the known headwinds. Former Swiggy chief technology officer Dale Vaz and Kotak Securities senior executive Manish Jain launched Sahi earlier this month. The company secured $7 million in equity funding from Accel and Elevation Capital.

«On noticing the unusual surge, the DGCIS (Directorate General of Commercial Intelligence and Statistics) has taken up a detailed examination of the gold import data. Reconciliation of the data will be done, hopefully within this month,» a commerce and industry ministry official said on condition of anonymity. Trade data for November 2024 may undergo revision following the reconciliation. A trade expert, who did not wish to be identified, said details of imports can be cross-verified with bills of entry, forex outgo and import duty payment-all of which are well documented on the Electronics Data Interchange system.

Va Tech Wabag tumbled more than 11% on Wednesday after the company announced the cancellation of a ₹2,700 crore order for a 300 MLD mega seawater desalination plant from the Saudi Water Authority (SWA). The stock, which fell as much as 20% intraday, closed at ₹1,672.95 apiece on the BSE. Despite the setback, analysts view the correction as a buying opportunity, citing the company's strong order book of ₹11,900 crore and robust long-term growth prospects.