Trade Financial News

Bitcoin has experienced significant volatility, dipping to an intraday low of $90,770 before recovering to $93,500 on Wednesday. Its market dominance dropped to 57.36% amid profit-taking and market turbulence fueled by Trump’s trade policy announcements. At 12:19 p.m., Bitcoin traded 0.6% lower at $93,461 over the last 24 hours, while Ethereum, the second-largest cryptocurrency, rose 0.46% to $3,426. «The recent price drop has been attributed to the expiry of options and reduced term premiums from U.S. Treasury bonds, which somewhat decreased the appeal of using Bitcoin as a hedge against the traditional market,» said Shivam Thakral, CEO of BuyUcoin.

Federal Bank Ltd. traded 0.18 per cent at Rs 213.15 at 02:08PM (IST) on Wednesday, even as BSE benchmark Sensex 382.97 points to 80387.03. The scrip had settled at Rs 213.55 in the previous session. The stock quoted a 52-week high price of Rs 214.40 and 52-week low of Rs 139.45, respectively. As per BSE data, total traded volume on the counter till 02:08PM (IST) stood at 151412 shares with a turnover of Rs 3.21 crore.

Indian Oil Corporation Ltd. traded 0.21 per cent up at Rs 136.70 at around 01:31PM (IST) on Wednesday. The stock had closed at Rs 137.00 in the previous session. Equity benchmark Sensex traded 364.35 points at 80368.41 around the same time.

Bank of Baroda 0.24 per cent to Rs 248.00 in Wednesday's trade as of 01:42PM (IST). The stock hit a high price of Rs 249.75 and low of Rs 244.65 during the session. The return on equity (ROE) for the stock stood at 15.67 per cent. Traded volume on the counter stood at 01:42PM shares and turnover at Rs 6.59 crore around that time. The stock of Bank of Baroda quoted a 52-week high price of Rs 298.45 and 52-week low prices of Rs 193.00, respectively.

Rakesh Jhunjhunwala’s journey from mere Rs 5,000 to a staggering Rs 40,000 crore, is a stuff of legends. At its heart lies Rare Enterprises—named after Rakesh and his life partner, Rekha—a true testament to the partnership that powered his rise as India’s “Big Bull.” The meeting that would forever change Rekha and Rakesh’s lives was nothing short of providential. Rekha, in an interview to The Economic Times newspaper, recalled how the alliance wasn’t even meant for her. “Actually, Rakesh’s marriage proposal was for my cousin,” she said. But fate, it seemed, had other plans. The matchmaker urged Rakesh to meet Rekha first, and from that moment on, the stars aligned. “The rest,” she added, “is history.”

Havells India Ltd. 0.36 per cent to Rs 1717.80 in Wednesday's trade. It hit a high of Rs 1720.50 and low of Rs 1694.00 during the session. On the technical charts, the 200-DMA of the stock stood at Rs 1737.66, while the 50-DMA was at Rs 1816.95. 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.

Ambuja Cements Ltd. traded 3.0 per cent at Rs 508.30 at 11:40AM (IST) on Wednesday, even as BSE benchmark Sensex 31.88 points to 80035.94. The stock had settled at Rs 493.45 in the previous session. The stock quoted a 52-week high and 52-week low of Rs 706.85 and Rs 415.65, respectively.

Swiggy climbed as much as 8.1% on Wednesday to Rs 499 on BSE, with the stock surging nearly 16% in the past two sessions after UBS became the latest brokerage to initiate coverage on the food delivery major with a “Buy” rating, highlighting Swiggy's promising growth in India's food delivery and quick commerce markets. Brokerage firms — HDFC Securities, Motilal Oswal and JM Financial — were the first ones to initiate coverage on Swiggy with particularly bullish views.

Lupin Ltd. 0.66 per cent to Rs 2022.05 in Wednesday's trade as of 11:47AM (IST). The stock hit a high price of Rs 2040.00 and low of Rs 2012.95 during the session.

Amnish Aggarwal, Head of Research, Prabhudas Lilladher, says capital goods is perhaps the best performing sector in terms of numbers, because the profit growth of all the capital goods companies and even the order books have been looking quite decent. In the capital goods space, play the entire automation and electrification theme this year. Companies like Siemens, ABB, and to some extent even GE T&D, Schneider stack up there. Among these ABB and Siemens seem to be the largest and very formidable players. The markets may have taken a bit of a breather yesterday after two days of a stupendous rally. The IT sector definitely stood out, hitting record highs. How much further can this rally sustain within IT? Amnish Aggarwal: As far as the IT sector is concerned, there are two things. First of all, with the US elections getting over, now people are getting more comfortable that the IT spending will likely start and they will get more clarity. Secondly, the kind of fear people had earlier that once the Trump administration comes, there would be much more embargo on H-1B visa and I think that, that is not going to be there. So, there are pockets within IT where there will be stress in some European markets and ER&D is not doing well across segments.

SRF Ltd. 0.86 per cent to Rs 2251.00 at 10:43AM (IST) in Wednesday's trade. The stock hit a high of Rs 2275.00 and low of Rs 2224.70 so far during the session. The stock had closed at Rs 2231.80 in the previous session. The counter had a total traded volume of 10:43AM shares so far with a turnover of Rs 0.31 crore on BSE. The stock traded at a price-to-earnings multiple of 59.20 and a price-to-book ratio of 6.63.

Ashapura Minechem Ltd.(up 5.58%), Madhav Marbles & Granites Ltd.(up 2.43%), KIOCL Ltd.(up 2.33%), Oriental Trimex Ltd.(up 1.99%), Sandur Manganese & Iron Ores Ltd.(up 1.64%), MOIL Ltd.(up 1.47%), Gujarat Mineral Development Corporation Ltd.(up 1.37%), Coal India Ltd.(up 1.32%), Pokarna Ltd.(up 1.01%) and The Orissa Minerals Development Company Ltd.(up 0.71%) were among the top gainers.

Cholamandalam Investment & Finance Company Ltd. 1.37 per cent to Rs 1282.05 at 10:47AM hours (IST) on Wednesday. Earlier in the day, the stock saw a gap down start to the session. As per data available on BSE, total traded quantity on the counter stood at 8,643 shares with a turnover of Rs 1.10 crore till 10:47AM (IST). The stock traded at a price-to-earnings (P/E) multiple of 27.96, while the price-to-book value ratio stood at 4.96.

Hyundai Motor India shares rose by nearly 2% to the day's high of Rs 1,926 on the BSE after Morgan Stanley and JPMorgan initiated coverage. JPMorgan and Morgan Stanley have initiated coverage on the automaker with an overweight rating, citing its strong growth potential, strategic positioning in the SUV and electric vehicle (EV) segments, and promising valuation metrics.

Adani Energy Solutions Ltd.(up 5.11%), GMR Power and Urban Infra Ltd.(up 5.00%), Adani Power Ltd.(up 4.44%), Ravindra Energy Ltd.(up 4.39%), Gujarat Industries Power Company Ltd.(up 4.17%), Energy Development Company Ltd.(up 4.03%), Jyoti Structures Ltd.(up 3.59%), Indowind Energy Ltd.(up 3.31%), Reliance Power Ltd.(up 3.01%) and Jaiprakash Power Ventures Ltd.(up 2.71%) were among the top gainers.

HDFC Bank, M&M, and Infosys were offset by losses in Reliance Industries and Bharti Airtel. The BSE Sensex was trading 14 points, or 0.02%, lower at 79,992. The Nifty50 was down 18 points, or 0.08%, trading at 24,175 around 9:25 am.

Anand Rathi has a buy call on Astral with a target price of Rs 2,666. The current market price of Astral is Rs 1,805. Astral, incorporated in 1996, is a Mid Cap company with a market cap of Rs 48387.78 crore, operating in the Plastics sector. Astral's key products/revenue segments include Plastic Products and Other Operating Revenue for the year ending 31-Mar-2024.

Thanksgiving and Black Friday, widely regarded as indicators of consumer sentiment and economic vitality, the BSE Sensex — India's benchmark stock index — reflects a mixed reaction to these events over the years. While Thanksgiving Day has shown a tendency to uplift Indian equities, Black Friday often tells a different story, marked by heightened volatility and caution.

Vodafone Idea topped the list of India Inc's largest loss-making company in Q2 with a loss of Rs 7,176 crore. NBFC Sammaan Capital, which was earlier known as Indiabulls Housing Finance, reported the second largest loss pile of Rs 2,761 crore. PSU fuel retailer Indian Oil's Q2 loss was also more than Rs 1,100 crore.

Brazilian beef is headed back to the shelves of Carrefour-owned grocery stores after a brief boycott sparked by remarks from the French company’s chief executive about nations in the South America trade bloc Mercosur

President-elect Donald Trump is threatening tariffs on Mexico and Canada as he seeks to portray them as responsible for illegal immigration and drug smuggling