Trade Financial News

LONDON — The U.K. is likely to see stablecoin laws introduced in a matter of «months, not years,» according to crypto firm Circle's top policy executive.

Subscribe to enjoy similar stories. When I started my career in 2011-12, silver was trading at ₹65,000 per kg. Traders in Mumbai's Zaveri Bazaar were optimistic about it touching ₹100,000.

«Some bit of cyclical downturn is expected, which is what we are going through. I think it will reflect in terms of softening of valuations of the market,» says Abhay Agarwal, Piper Serica. What is your sense, is it going to be a bit of a soft Diwali for us? Abhay Agarwal: Well, it is looking like we saw some of this trend starting to come up. Low consumption, weak consumption, the Diwali stocking that typically used to take place with the retailers and distributors of products that focus on consumer discretionary demand like paints, tiles, home improvement, autos especially, there was a very weak offtake.

Shriram Finance Ltd. traded at Rs 3224.5 on BSE at 01:44PM (IST) on Wednesday, down 0.79 per cent from previous close. The scrip quoted a 52-week low price of Rs 1760.9 and a high of Rs 3652.15.

BSE at 01:53PM (IST) on Wednesday, up 0.84 per cent. The stock quoted a 52-week low price of Rs 636.1 and a high of Rs 1148.3. Earlier in the day, the stock saw a gap down opening.

European shares inched higher on Wednesday, led by automobiles and utilities stocks, as investors analysed a slew of mixed corporate earnings from heavyweights such as Deutsche Bank and Roche. The pan-European STOXX 600 index ticked 0.1% higher as of 0712 GMT. Eurozone bank stocks held back some gains as Deutsche Bank's shares fell 2.7%.

PEPU, the native crypto of Pepe Unchained, just crossed the $20 million milestone in its trending presale. Not another token riding the Pepe wave Pepe Unchained’s fast-moving presale has grabbed the attention of memecoin traders and influencers like ClayBro.

Subscribe to enjoy similar stories. The explosion of volumes in the Indian derivatives’ market—daily swaps, in particular—and the widespread participation of retail investors has generated deep concern among regulators and policymakers. As Warren Buffett famously said, “Derivatives are financial weapons of mass destruction." A consultation paper published by the Securities and Exchange Board of India (Sebi) noted that in 2023-24, an average 85 out of 100 individuals trading in index futures lost money.

Subscribe to enjoy similar stories. Foreign investors are pulling their money out of India. While that may not be surprising, the question is which global markets are catching the attention of foreign portfolio investors (FPIs) now? The short answer: Apart from China, it was South Korea, Japan and Indonesia.

Siemens Ltd. slipped 2.51 per cent to Rs 7053.8 in Wednesday's trade. It hit a high of Rs 7263.5 and low of Rs 7053.8 during the session. On the technical charts, the 200-DMA of the stock stood at Rs 6171.89, while the 50-DMA was at Rs 7101.35. 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.

«So, when two of these bigger indices are showing some kind of support, I feel that this 24,300, 24,400 zone positionally for Nifty should act as an important support,» says Sudeep Shah, SBI Securities. Well, the screen is looking much better than what was the case yesterday. Is the poison out of the system? Have we formed a bottom? Sudeep Shah: I cannot really say that the poison is out of the system or we have formed a bottom because it is the first day after last three-four days where we have seen absolute carnage in terms of midcaps and even selected largecaps. However, what is encouraging to see today is that yesterday and in the last few days we have seen banking, especially ICICI Bank, HDFC Bank stabilising somewhat and on the other hand, even the IT stocks are showing some positive traction.

Tube Investments of India Ltd. rose 0.74 per cent to Rs 4449.95 in Wednesday's trade. It hit an intraday high of Rs 4500.3 and low of Rs 4400.05, respectively, during the day. The stock quoted a 52-week high price of Rs 4666.0 and low of Rs 2881.3.

Cummins India Ltd. traded 1.31 per cent up at Rs 3494.8 at around 01:02PM (IST) on Wednesday. The stock had closed at Rs 3541.4 in the previous session. Equity benchmark Sensex traded 284.58 points higher at 80505.3 around the same time.

<a rel=«dofollow» href=«https://economictimes.indiatimes.com/divi» s-laboratories-ltd. data-ga-onclick=«Inarticle articleshow link click#Markets#href» target="_blank">Divi's Laboratories Ltd. gained 0.01 per cent to Rs 5821.3 in Wednesday's trade as of 11:36AM (IST). It hit a high of Rs 5860.0 and low of Rs 5750.65 during the session. The stock quoted a 52-week high price of Rs 6276.2 and a low of Rs 3300.0. The return on equity for the stock stood at 11.78 per cent. About 2,020 shares have changed hands on the counter so far.

Hindustan Zinc surged 4% to Rs 535 in Wednesday's trade on the BSE after silver prices reached the Rs 1 lakh per kg mark in Delhi-NCR’s bullion markets on Tuesday. Hindustan Zinc is India's largest producer of silver and refined silver. Meanwhile, on Tuesday, December silver contracts on the MCX hit a new lifetime high of Rs 99,475, gaining Rs 2,019, or over 2%. March 2025 futures were trading at Rs 1,01,688, up Rs 1,847, or 1.85%.

Ambuja Cements Ltd. gained 0.9 per cent to Rs 563.1 in Wednesday's trade. It hit a high of Rs 564.9 and low of Rs 554.6 during the session. On the technical charts, the 200-DMA of the stock stood at Rs 614.59, while the 50-DMA was at Rs 613.55. 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.

Tata Power Company Ltd. rose 0.91 per cent to Rs 440.0 in Wednesday's trade as of 11:41AM (IST) even as the benchmark Nifty ruled at 24568.1, up 96.0 points. The scrip had closed at Rs 436.0 in the previous session. The stock quoted a 52-week low of Rs 230.75 and a high of Rs 494.85. The company quoted a market-cap of Rs 140738.73 crore on the BSE.

Adani Power Ltd. rose 0.42 per cent to Rs 590.3 at 11:10AM hours (IST) on Wednesday. Earlier in the day, the stock saw a gap up start to the session. As per data available on BSE, total traded quantity on the counter stood at 124,003 shares with a turnover of Rs 7.28 crore till 11:10AM (IST). The stock traded at a price-to-earnings (P/E) multiple of 14.24, while the price-to-book value ratio stood at 5.78.

Lexus Granito(India)Ltd.(up 12.95%), Gujarat Mineral Development Corporation Ltd.(up 7.77%), Oriental Trimex Ltd.(up 5.01%), Madhav Marbles & Granites Ltd.(up 4.40%), The Orissa Minerals Development Company Ltd.(up 3.66%), Ashapura Minechem Ltd.(up 3.46%), NMDC Ltd.(up 3.33%), MOIL Ltd.(up 2.62%), Sandur Manganese & Iron Ores Ltd.(up 2.32%) and Pokarna Ltd.(up 2.05%) were among the top gainers.

Trump wins next month's U.S. presidential election, Mike Sagan's toy-making company will halve its China supply chain within a year. KidKraft, which also makes outdoor play equipment, had already shifted 20% of its production out of China to Vietnam, India and elsewhere after Trump introduced 7.5%-25% tariffs in July 2018, midway through his first term. Now Trump threatens blanket 60% tariffs on China, which Sagan sees as a game-changing «blunt» tool.

World Economic Outlook (WEO) and expected India to grow at 7 per cent in the current fiscal year ending March 31, 2025 and 6.5 per cent in the next fiscal year (FY2025-26). «In India, the outlook is for GDP growth to moderate from 8.2 per cent in 2023 to 7 per cent in 2024 and 6.5 per cent in 2025, because pent-up demand accumulated during the pandemic has been exhausted, as the economy reconnects with its potential,» the IMF said in the World Economic Outlook. Looking beyond the one-year outlook, the global economy faces a feeble period of medium-term growth, the IMF said as it called for a slate of reforms in its latest WEO during the annual meetings of the fund and the World Bank in Washington.