Trade Financial News

Bajaj Hindusthan Sugar Ltd.(up 3.25%), Kothari Sugars & Chemicals Ltd.(up 2.45%), DCM Shriram Industries Ltd.(up 2.15%), Triveni Engineering & Industries Ltd.(up 2.10%), EID Parry(India)Ltd.(up 2.04%), Mawana Sugars Ltd.(up 1.96%), Rana Sugars Ltd.(up 1.85%), Dalmia Bharat Sugar and Industries Ltd.(up 1.59%), Vishwaraj Sugar Industries Ltd.(up 1.51%) and Rajshree Sugars & Chemicals Ltd.(up 1.50%) were among the top gainers.

Siddha Ventures Ltd.(up 20.00%), Multibase India(up 19.99%), Fluidomat Ltd(up 19.99%), Banco Products(up 18.14%), Mahalaxmi Rub(up 17.73%) and Dishman Carbogen(up 16.74%) were among the stocks that surged over 15%.

Bitcoin's price has been on a tear since election night, hitting a new all-time high of over $93,000 on Wednesday before retreating back below $90,000.

neutral call on Vedanta with a target price of Rs 520. The current market price of Vedanta is Rs 439.25. Vedanta Lt, incorporated in 1965, is a Large Cap company with a market cap of Rs 170453.82 crore, operating in Diversified sector. Vedanta's key products/revenue segments include Aluminium, Copper Cathodes, Oils, Iron Ore, Pig iron, Others, Other Operating Revenue, Power, Metallurgical Coke, Export Incentives, Scrap for the year ending 31-Mar-2024.

silver December futures contracts were trading at Rs 88,032/kg, down by 0.1.31% or Rs 1,165. In this week so far, Gold prices have fallen by Rs 3,400/10 grams while silver prices fell by Rs 3,200/kg in the same period.

India VIX, the volatility gauge, surged 5.79% to close at 15.43 on Wednesday, indicating heightened caution. The Nifty future closed negative with losses of 1.10% at 23,696 levels.

investment opportunities with potential upsides. Goldman Sachs has reiterated its confidence in Eicher Motors and Larsen & Toubro (L&T), citing strong growth drivers and robust performance indicators.

Jai Bala, Chief Market Technician, Cashthechao.com, says he expects the Nifty to hit somewhere to about 21,300 by the end of the year and the banking index to hit somewhere close to 42,000 with an intermediate pause at about 49,000 and 47,000. The Dollar index will be about 109 for the end of the year. The 10-year yields for the US would be about 5.5% by the end of the year. By 2026, the 10-year yields will hit about 800 bps. That is the medium to long-term forecast for the global markets and the macros. Bala also says retail investors should raise as much cash as possible as they can get in and get out of the market much faster than the institutions. Is there any ray of hope for the markets and what can really provide a sigh of relief at this juncture? Jai Bala: I had spoken to you around the time when China's stimulus was on and at that time I had mentioned that the Nifty was likely to drop to somewhere close to 21,300 and when people are focusing on China's stimulus, we should have been focusing on the India correction which is about to set on. I have been holding the view from the 1st of October that this decline is likely to take the market to somewhere close to the June 4th low. So, we are set for further decline to come through, although there could be a counter trend bounce along and the market has just printed the 200-day moving average and so we could see a slight relief. But the markets are still on sell on rise.

Eicher Motors zoomed 7.5% on Thursday to their day’s high of Rs 4,934.50 on the BSE as the company reported an 8% growth in its standalone net profit at Rs 1,010 crore in the quarter ended September 2024. While registering steady growth on an annual basis, Eicher Motors lagged in quarterly comparison. The two-wheeler segment displayed steady growth despite facing the seasonal backlash, leading to lower footfall during the quarter, however, aided by higher ASP, the company registered healthy revenue growth during the quarter.

HDFC Securities has a buy call on Jyothy Labs with a target price of Rs 600. The current market price of Jyothy Labs is Rs 424.65. Jyothy Labs, incorporated in 1992, is a Mid Cap company with a market cap of Rs 15687.15 crore, operating in FMCG sector. Jyothy Labs' key products/revenue segments include Personal Care, Sale of services and Scrap for the year ending 31-Mar-2024.

Subscribe to enjoy similar stories. India’s stock market indices have reached a milestone, with the Nifty 50 having lost a tenth of its peak value attained in late September.

At around $1.06, the euro has slumped nearly 5% from more than one-year highs in September when a weakening economic outlook stopped it in its tracks.

earnings season is underway and as many as 1203 companies will announce their quarterly numbers for the July-September 2024 period today. Key results to watch out for include that of HAL, Grasim, Hero MotoCorp, Honasa Consumer and Delhivery. Apart from the above, Akar Auto Industries, ABC India, Ace Engitech, Acme Resources, ADS Diagnostic, Aimco Pesticides, Ajanta Soya, Bajaj Healthcare, Bharat Forge, Coffee Day Enterprises, Deep Polymers, Delta Industrial Resources, Dalmia Industrial Development, Flora Corporation, Generic Engineering Construction, Glittek Granites, Hindustan Urban Infrastructure, Jaypee Infratech, Lemon Tree Hotels and a few others will also announce their quarterly results.

Gold prices were flat on Thursday after hitting a two-month low earlier, pressured by a stronger U.S. dollar and uncertainty regarding the pace of the Federal Reserve's interest rate cuts.

The world's biggest cryptocurrency has become one of the most eye-catching movers in the week since the election and on Wednesday touched record highs. It was last up 5.49% at $93,158, marking a 32% rise since the Nov. 5 election.

Oil prices dropped slightly early on Thursday on expectations of higher global production amid forecasts for weak demand growth, while a firmer dollar also kept a lid on prices. Brent crude futures were down 6 cents, or 0.08%, at $72.22 a barrel by 0133 GMT. U.S. West Texas Intermediate crude (WTI) futures were down 13 cents, or 0.19%, at $68.30.

Federal Reserve easing. Cryptocurrency bitcoin also shot to a fresh record high of $93,480 overnight, and was rising back towards that level early in Asia's day. Trump has vowed to make the United States «the crypto capital of the planet».

The consumer price index (CPI) rose 0.2% in October for the fourth straight month and advanced 2.6% on an annual basis, the Labor Department's Bureau of Labor Statistics said. Excluding the volatile food and energy components, the CPI increased 0.3% in October, meeting economists' forecasts.

The Sensex and Nifty have dropped 10% from peaks on September 27, resulting in the indices entering the technical corrective phase. When an index falls 10% from its peak in a short span, it's considered a correction. A 20% decline makes it a bear phase.

NSE opted to scrap the Nifty Bank weekly contracts and chose to retain Nifty's. The cut-off date set by the regulator to discontinue weekly derivative contracts is November 20.

Burman family to acquire Religare Broking, the broking arm of the holding company Religare Enterprises (REL). The move is a part of the open offer for REL launched by entities controlled by the Burman Family and comes after a nod from the competition regulator and the insurance watchdog.