Trade Financial News

Indian Oil Corporation Ltd. 0.03 per cent to Rs 139.45 in Wednesday's trade. It hit a high of Rs 141.15 and low of Rs 139.20 during the session. On the technical charts, the 200-DMA of the stock stood at Rs 165.53, while the 50-DMA was at Rs 151.9. 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.

When SmileDirectClub shut down a year ago, scores of existing customers of the teeth-straightening company were left in limbo

Asian markets are mostly lower after overnight political drama in South Korea added to regional uncertainties

China has announced a ban on exports to the United States of gallium, germanium and other key high-tech materials with potential military applications

U.S. stocks tiptoed to more records after a quiet day of trading

Oberoi Realty soared to a record high, climbing over 5% on Wednesday to Rs 2162.45 on the BSE after domestic brokerage Nomura initiated coverage on the company with a ‘buy’ rating and a target price of Rs 2,500, signalling a potential upside of over 15% from the current level. Nomura Institutional Equities cited robust growth drivers, including strong pre-sales momentum, rising annuity income, and strategic business development initiatives as drivers for its bullish outlook. The brokerage projects a compound annual growth rate (CAGR) of 40% in pre-sales, expecting the figure to reach Rs 11,500 crore over the next two fiscal years.

Voltas Ltd. 0.12 per cent to Rs 1690.00 in Wednesday's trade as of 11:43AM (IST). The stock hit a high price of Rs 1704.15 and low of Rs 1686.80 during the session.

RBI has largely been following a data-driven and evidence-based approach in its pursuit of a contextually relevant Policy, a Policy stemming from the concerns at the time of formulation and an attempt to arrive at judicious Policy prescriptions. With an uncanny ability to connect the dots and draw meaningful inferences, it is not difficult to predict the shape of things likely to come as I have done repeatedly for the last several years. But this time is different, the choices are not so stark and we are confronted with the cognizable Shakespearean dilemma of “to be or not to be”. No wonder, then, opinion about the Policy move is divided: some believe that a rate cut is necessary to shore up a flagging economy; others maintain that given the ravages of the inflationary spiral, an unchanged rate would best serve the objectives of the central bank.

Bank of Baroda traded 0.92 per cent in Wednesday's trade at 11:48AM (IST). Around 143,252 shares changed hands on the counter. The scrip opened at Rs 255.60 and touched an intraday high and low of Rs 257.30 and Rs 254.35, respectively, in the session so far. Shares of the company of Bank of Baroda quoted a 52-week high of Rs 298.45 and a 52-week low of Rs 204.65.

Punjab National Bank 0.88 per cent to Rs 108.90 in Wednesday's trade as of 11:53AM (IST). The stock hit a high price of Rs 109.00 and low of Rs 107.80 during the session.

Investec has initiated coverage on JSW Infra with a 'Buy' rating and a target price of Rs 370, indicating a 15% upside from its previous closing price of Rs 321. Investec expects JSW Infra to achieve a 20%+ revenue and EBITDA CAGR over FY24-30. The growth is expected to be driven by third-party cargo at new terminals and strong growth in JSW Group traffic from FY27E onwards. The firm also sees significant potential for new concessions, fueled by the Indian government's aggressive port privatization targets, the management's opportunistic approach, and a robust balance sheet.

Stocks that rallied over 10% included, Indo Amines(13.38%), Bang Overseas(13.23%), Niva Bupa Health Ins(12.77%), HEG(11.21%), Wonderla Holidays(10.99%), Vippy Spinpro(10.55%), Zim Laboratories(10.51%) and Syschem(India)(10.17%).

Oman have pushed its partnership in defence, energy, maritime and investment sectors at a high meeting meeting held in New Delhi. The 13th round of the India-Oman Strategic Consultative Group (IOSCG) meeting was held on Tuesday. The meeting was co-chaired by Arun Kumar Chatterjee, Secretary (CPV & OIA), Ministry of External Affairs, and Sheikh Khalifa Alharthy, Undersecretary for Political Affairs, Ministry of Foreign Affairs, Sultanate of Oman. Space is another sector where Oman is interested to collaborate with India. During the meeting, both sides reviewed the entire gamut of bilateral relations, including political and strategic cooperation, trade and investment, energy, maritime and defence partnership, digital collaboration, cultural exchange, and people-to-people ties.

Bharat Electronics Ltd. traded at Rs 313.95 on BSE at 10:30AM (IST) on Wednesday, 0.62 per cent from previous close. The scrip quoted a 52-week low price of Rs 150.00 and a high of Rs 340.35.

Cholamandalam Investment & Finance Company Ltd. rose 0.75 per cent to Rs 1264.40 in Wednesday's trade. It hit an intraday high of Rs 1275.00 and low of Rs 1256.05, respectively, during the day. The stock quoted a 52-week high price of Rs 1650.00 and low of Rs 1011.50.

The NSE Nifty index traded 79.8 points up at 24536.95, while BSE Sensex was 301.66 points at 81147.41 as of 10:44AM(IST)on December 04.

Balkrishna Industries Ltd.(up 1.37 per cent), Bharat Forge Ltd.(up 1.16 per cent), Mahindra & Mahindra Ltd.(up 0.5 per cent), Bajaj Auto Ltd.(up 0.35 per cent) and MRF Ltd.(up 0.34 per cent) were among the top gainers.

foreign inflows offset the impact of a strengthening greenback. A strengthening dollar against overseas currencies and a rise in Brent crude in international markets capped further gains in the local unit, while a positive trend in domestic equity markets prevented a drop in the currency. Forex traders said the rupee has been on a downtrend largely on the back of Donald Trump's rhetoric on BRICS currency, political instability in the Eurozone, weaker domestic macroeconomic indicators and unabated foreign portfolio outflows.

«Korea has been a very weak market this year. It is down about 19% in dollar terms within the EM index and so this is just more pain for the Korean market and we will have to see how the politics plays out,» says Geoff Dennis, Independent EM Commentator. This morning we have woken up to those kind of news coming in from South Korea wherein, of course, there was that Martian law that was put on, then it was taken off. Now, there is news of impeachment, a lot going on as far as the Extraordinary General Meeting of the Central Bank in South Korea is concerned. But it begs the question whether India is one of those safe havens of sort where there is political stability, where there is economic stability, while even countries like, of course, China, South Korea, West Asia, and all of that are going through their own turmoil. Does that make India stand out as one of the best opportunities right now? Geoff Dennis: Oh, yes, it does.

Benchmark NSE Nifty index rose 81.95 points to 24539.1 amid buying in frontline bluechip stocks.

REC Ltd. traded at Rs 550.75 on BSE at 10:15AM (IST) on Wednesday, 2.05 per cent from previous close. The scrip quoted a 52-week low price of Rs 376.40 and a high of Rs 653.90.