Trade Financial News

As money continues to pour into crypto following Donald Trump’s election victory, bitcoin has climbed to yet another record high

To play on a familiar saying: if America sneezes and the world catches a cold, Canada is the first to get sick. As Donald Trump prepares to take office for a second term, Canadians are bracing for a range of policy changes that will inevitably affect our economy — and, by extension, our pocketbooks. While stock and bond markets are already reacting in anticipation of the changes, just how far Trump will go on issues such as trade and immigration remains to be seen. Here’s a look at what economists are predicting could lie ahead.

The recent declines in Canadian interest rates have been a wonderful thing for some, but others are seeing their guaranteed investment returns rapidly decline.

anti-dumping measures" on brandy imported from the European Union, deepening a trade standoff between Beijing and Brussels after similar measures last month. China announced provisional tariffs on EU brandy imports last month, saying the alleged «dumping» threatened «substantial damage» to the domestic industry. And Beijing's commerce ministry said in a statement Monday that authorities have «decided to implement temporary anti-dumping measures in the form of a cash deposit or letter of guarantee» against European brandy products.

Denis Manturov called on Prime Minister Narendra Modi on Monday and the two leaders exchanged views on enhancing cooperation in various areas, such as trade and economic ties, energy and connectivity. PM Modi welcomed the sustained and joint efforts being made by the teams on both sides for the implementation of decisions taken during his recent visits and meetings with Russian President Vladimir Putin to further strengthen the India-Russia Special and Privileged Strategic Partnership, a statement issued by the Prime Minister's Office (PMO) said. They exchanged views on enhancing cooperation in various areas, including trade and economic ties, energy and connectivity, it said. PM Modi extended his warm greetings to President Putin and said that he looked forward to continued exchanges with him, according to the statement.

Akums Drugs and Pharmaceutical, the Delhi-based contract development and manufacturing organisation (CDMO) reported an adjusted net profit of Rs ₹66.7 crore, a 16% year-on-year (YoY) increase from the previous quarter led operational efficiency. Revenue declined 11.9% YoY to ₹1046.6 crore due to lower active pharmaceutical ingredient (API) prices and fluctuating demand.

Shree Cement’s profit plunged more than 80% on year to Rs 93.13 crore in the September quarter, weighed down by weakness in both demand and prices for the building material during the three-month period. While the September quarter is seasonally weak for cement-makers, the country’s third largest producer’s sales volume slipped as compared to the previous year as well — 7% lower at 7.60 million tonne.

Supreme Court on Monday dismissed the Securities and Exchange Board of India's appeals against a Securities Appellate Tribunal’s (SAT) July order that set aside the market regulator's penalty of Rs 25 crore imposed on Reliance Industries (RIL), its promoters Mukesh Ambani and Anil Ambani and others in April 2021 for violating takeover norms in a case related to the acquisition of RIL shares between 1994-2000. The apex court also dismissed another Sebi appeal against SAT’s December 4 order that set aside the Rs 25-crore penalty imposed by the market regulator on RIL, Rs 15 crore on Mukesh Ambani, Rs 20 crore on Navi Mumbai SEZ and Rs 10 crore on Mumbai SEZ for their alleged role in the manipulation of prices of Reliance Petroleum Ltd (RPL)s shares in November 2007. While the appellate tribunal had quashed the penalties against Mukesh Ambani, Navi Mumbai SEZ, and Mumbai SEZ in the same case, it upheld SEBI's penalty against Reliance Industries. RPL was absorbed into RIL in 2009.

Short sellers of cryptocurrency and blockchain-related stocks have suffered heavy losses since Nov. 6, after bitcoin surged to record highs, on optimism U.S. President-elect Donald Trump would implement a more favorable regulatory framework.

Bandhan Bank and a host of small finance banks that have transitioned from microfinance business to their current avatar have faced higher slippages during the second quarter from their legacy business. Their desperate efforts to slow down micro-ticket lending to the bottom of the pyramid customers and instead raising the share of the secured portfolio did not prevent the rising credit cost. Microfinance loans are unsecured as these are not backed by collateral.

Nava Ltd on Monday announced that it would consider splitting the stock from a face value of Rs 2 per share in its upcoming board meeting, which is due to be held on November 14. “In continuation to our letter (vide ref.no. NAVA/SECTL/335/2024-25) dated November 04, 2024 under Regulation 29 of SEBI (LODR) Regulations, 2015, we hereby inform that the Board of Directors at its meeting scheduled to be held on Thursday, November 14, 2024, will also consider the proposal of alteration in share capital of the Company by sub-division/ split of existing equity shares having face value of Rs. 2/- each, fully paid up, subject to approval of the shareholders of the Company,” said the company in a filing tot he exchange.

S Jaishankar on Monday called for «urgent» measures to address the issue of widening trade deficit between India and Russia. While India's exports to Russia stood at only USD 2.24 billion in April-August this fiscal, imports soared to USD 27.35 billion during the period. The trade deficit is aggregated at USD 25.11 billion. The high trade deficit is mainly on account crude imports. Russia emerged as India's biggest supplier of crude oil, which is converted into fuels like petrol and diesel in refineries, after Russian oil was available on discount following some European nations shunning purchases from Moscow over its invasion of Ukraine in February 2022.

stock brokers to offer either the facility of trading in the secondary market using the UPI-based block mechanism to their clients similar to the ASBA facility or a three-in-one trading account facility from February 1. These qualified stock brokers brokers (QSBs) must offer one of these two options, in addition to the current mode of trading. The three-in-one trading account combines a savings account, a demat account, and a trading account into a single integrated solution. In this case, the clients would have their funds in their bank account, earning interest on the cash balances.

Trump 2.0 regime, said a SBI research report, even as the local currency hit its all-time low on Monday. The report, titled US Presidential Election 2024: How Trump 2.0 Impacts India's and Global Economy, emphasised that the rupee can have a brief spell of depreciation against the US dollar, followed by appreciation. Donald J Trump's historical comeback as the 47th President of the United States adds a morphine shot to the markets and select asset classes even as the focus is now shifting to wider economic ramifications and supply chain realignments, the report said.

The stock market could enjoy a bigger boost from President-elect Donald Trump than any previous administration thanks to his pro-business policies, according to Jeremy Siegel, finance professor at the Wharton School of the University of Pennsylvania.

The underlying trend of Nifty remains choppy with weak bias. The market is moving in a broader high low range of 24,600-23,800 levels. Having declined from the upper range recently, Nifty is expected to witness an upside bounce from near the lower range of 23,800 levels in the short term. Immediate resistance to be watched around 24,300, said Nagaraj Shetti of HDFC Securities.

Benchmark NSE Nifty closed 6.91 points up at 24141.3 amid selling in frontline bluechip counters.

stocks rallied as much as 15% in Mumbai trading on Monday even as equity benchmarks, BSE Sensex and NSE Nifty, traded in the amid brisk in frontline bluechip counters. Stocks that surged in excess of 15% included, Sujala Trading(20.00%), PPAP Automotive (20.00%), Pix Trans(19.99%), VCU Data Mgmt(19.97%) and Devki Leasing(18.42%).

Shares of Infosys Ltd.(up 1.65 per cent), HCL Technologies Ltd.(up 1.63 per cent), Coforge Ltd.(up 1.43 per cent), Tech Mahindra Ltd.(up 1.36 per cent) and Tata Consultancy Services Ltd.(up 1.25 per cent) ended the day as top gainers in the pack.

Shree Cement Ltd on Monday reported an 83% fall in its consolidated net profit for the quarter ended September 2024 to Rs 76 crore. The same stood at Rs 447 crore in the year-ago quarter.