Trade Financial News

Gold prices were little changed in early Asia hours on Monday, as market participants awaited comments from Federal Reserve officials and economic data to gauge the U.S. interest rate path.

BULLISH BETS

Asian Paints announced a disappointing September quarter performance over the weekend. The results were marked by a 5.4% drop in consolidated revenues to ₹8,003 crore and a 480 basis points decline in operating margin to 15.5%. Consolidated net profit dropped 44% to ₹694 crore.

market, but the Nifty may not fall sharply in the absence of major market-moving events. Stocks like Infosys, HCL Technologies, Bank of Baroda, Axis Bank, Federal Bank, Mphasis, LTI Mindtree, M&M, Tata Motors, Sobha, Syngene, and JB Chemicals have formed bullish patterns on the charts, they added. NAGARAJ SHETTI TECHNICAL RESEARCH ANALYST, HDFC SECURITIES

foreign portfolio investors' (FPIs) outflows from the Indian equity market tapered in the first week of November and so did the buying by domestic funds. It followed an unusually busy October which recorded an unprecedented selling by FPIs and equally strong buying by local funds. In the first five trading sessions of November, FPIs sold equities worth ₹19,993.7 crore ($2,374.6 million) net according to the data from NSDL. This compares with a massive selling of ₹44,914 crore ($5,352.1 million) in the first five sessions of the previous month, forming nearly half of the total selling worth ₹94,017 crore ($11,195.4 million) for the whole month.

Subscribe to enjoy similar stories. Do you remember D. K.

Subscribe to enjoy similar stories. New Delhi: Foreign Direct Investment (FDI) equity inflows in the non-conventional energy sector surged in the first three of months of this financial year, making it the tenth-largest FDI destination of all time, underscoring rising global interest in India’s green energy initiatives.

Subscribe to enjoy similar stories. Higher government spending, and wedding and festival season uptick in sales could enable Nifty to notch the Street estimated earnings of ₹1,059 per share in the current fiscal. The real worry is the FY26 Nifty 50 EPS estimate of ~ ₹1,200-1,250, an 18% growth over that in FY24, which looks tough, given an estimated 5% earnings growth in the current fiscal, believes Nilesh Shah, managing director (MD) of Kotak Mahindra Asset Management Co.

onion prices continued this week as the quality of the kharif crop from Rajasthan, Maharashtra and Karnataka was poor and boosted demand for the old, pricier crop at a time when there was also a surge in export demand. The maximum price of best quality onions jumped to Rs 70 per kg from Rs 51/kg a fortnight back, while the average prices have increased to Rs 58/kg from Rs 51/kg during the same period at the Pimpalgaon market in Nashik. There has also been a surge in exports as Bangladesh removed import duty on onions. Traders expect prices to decline only after 8-10 days as newer crop arrivals start elsewhere in the country. Onion prices crossed the five-year high of Rs 54/kg last week at the benchmark Lasalgaon market in Nashik. Traders said it was because of supply shortages as the wholesale markets were closed for many days across the country for Diwali. There was a rise of 30-35% during the last week in the wholesale prices.

Minneapolis Federal Reserve President Neel Kashkari said Sunday that President-elect Donald Trump's tariff proposals could worsen long-term inflation if global trade partners were to strike back.

Bitcoin traded above $80,000 over the weekend, extending a run for the leading cryptocurrency, which got a lift from last week’s election victory by Donald Trump. 

Tan Sri Ananda Krishnan, one of Malaysia’s most influential and wealthiest individuals, has built an empire that spans multiple industries, from telecommunications to multimedia, with a net worth of ₴45,339 crore (US$5.8 billion). As the country’s fourth-richest person, according to Forbes, he is a name synonymous with strategic vision, entrepreneurial success, and philanthropy. Ananda Krishnan’s rise to prominence began with a consultancy firm, MAl Holdings Sdn Bhd, which helped shape his entrepreneurial career.

S Jaishankar and Russia’s first deputy prime minister Denis Manturov will hold a brainstorming session in Delhi on Tuesday to explore sectors for India’s investments including in Far-Eastern Russia and increasing trade to reduce trade deficit, which is currently in Russia’s favour owing to huge oil exports. They will also discuss measures to smoothen the rupee-ruble payment mechanism. While the mechanism is functioning, large volumes of transactions often face delay due to limitations of the transaction mechanism. Also on the agenda is a free trade agreement between India and Eurasian Economic Union, according to people familiar with the matter. Besides, Russia is exploring to invest in India through some of the accumulated rupees, they said. “On November 12, in New Delhi, Denis Manturov jointly with Minister of External Affairs of India Dr Subrahmanyam Jaishankar will hold the 25th session of the Intergovernmental Russian-Indian Commission on Trade, Economic, Scientific, Technical and Cultural Cooperation. As part of his visit, the First Deputy Prime Minister also has a number of bilateral meetings planned,” said a statement issued by the Russian Embassy in India.

Donald Trump's former Treasury secretary, Steven Mnuchin, said he will not seek to join the president-elect's new administration but is ready to offer advice to his successor, including on how to strengthen sanctions on Iran and Russia and contain the growth of U.S. debt. In an interview, Mnuchin told Reuters it was important for the Treasury to work towards strengthening U.S. trade policy. This includes holding Beijing to its U.S. goods purchase commitments in Trump's January 2020 Phase One deal to rebalance U.S.-China trade, which he said «they're not living up to.» Serving as Treasury chief during Trump's first term «was the experience of a lifetime, and I'm happy to advise on the outside,» Mnuchin said on Friday. «I'm sure they'll have a lot of great choices.»

Trump set to become the next US president after the recently closely contested president polls, India and other Asian countries are expected to benefit due to rising US-China tensions and potential investment restrictions in strategic sectors, as per Moody's Ratings. «In the Asia-Pacific region, trade and investment flows might be further diverted away from China as the US tightens investments in strategic sectors, which would negatively affect China's economy and consequently dampen regional growth. However, this shift might benefit India and ASEAN countries,» the global rating agency said. The global agency anticipated a significantly shift under the Trump administration across fiscal, trade, climate, and immigration issues, departing from the approach of the administration of the current US President Joe Biden.

monetisation of natural gas deposits in the northeastern region can help cut down its import, while also boosting the local economy and providing more trade opportunities, a top official of the Indian Gas Exchange (IGX) said. Rajesh K Mediratta, Managing Director and CEO of IGX, the country's first automated national level gas exchange, maintained that the region can supply the surplus gas not only to other parts of the country, but also to neighbouring Bangladesh and earn significant revenue. «The Northeast has tremendous potential in the production of natural gas. As the Northeast Gas Grid is likely to become operational by 2026, the deposit of 6 million MMSCMD of natural gas can be monetised by the existing producers,» Mediratta said. «This will add to the country's energy security as IGX will help gas producers sell the surplus gas to the other regions,» he said, while speaking at a seminar on 'Gas Market Development for North East' here on Friday.

Bitcoin is closing in on $80,000 for the first time, boosted by President-elect Donald Trump’s embrace of digital assets and the prospect of a Congress featuring pro-crypto lawmakers. The cryptocurrency climbed as much as 4.3% to an unprecedented $79,771 on Sunday and remained near $79,000 as of 2:05 p.m. in Singapore. Smaller tokens like Cardano and meme-crowd favorite Dogecoin also rallied.

Subscribe to enjoy similar stories. Wall Street’s verdict is clear: A second Trump presidency is likely to deliver a blow to an export-dependent European Union that is struggling with sclerotic economic growth and ever-multiplying political crises. Whether it will finally spark some change is the question for patient investors.

Most of the earnings so far have been muted in the second quarter for India Inc as analysts had already predicted the slowest numbers in over four years as Nifty earnings may grow marginally by just 2% year-on-year.

market valuation of six of the top-10 most-valued firms eroded Rs 1,55,721.12 crore last week, with Reliance Industries emerging as the biggest laggard, in line with an overall weak trend in equities. Last week, the BSE benchmark declined 237.8 points, or 0.29 per cent. While Reliance Industries, Bharti Airtel, ICICI Bank, ITC, Hindustan Unilever and Life Insurance Corporation of India (LIC) suffered erosion in their market valuation, Tata Consultancy Services (TCS), HDFC Bank, Infosys, and the State Bank of India were the gainers.

markets continued unabated, with FPIs pulling out nearly Rs 20,000 crore in the last five trading sessions on higher valuations of domestic stocks and shifting their allocation to China. As a result, foreign portfolio investors (FPIs) have turned net sellers in the equity market, with total outflows reaching Rs 13,401 crore for 2024 so far. Going ahead, the FPI selling trend is likely to continue in the near term till data indicate the possibility of a trend reversal. If the Q3 results and leading indicators reflect a recovery in earnings, the scenario can change with FPIs reducing selling and even turning buyers. Investors will have to wait and watch for the data, VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said.