Trade Financial News

The restrictions were first placed in August 2023, with the firm arguing at the time that the move was «in the best interest of our customers». According to data from the Association of Investment Companies, the Rothschild-backed trust has over £4.1bn in assets and is trading at a 31.4% discount. In share price terms, RIT has returned 1.1% over the last year, compared to the AIC Flexible Investment sector's 7.7% gain.  Following the removal of Fidelity's restrictions, the trust's share price has rebounded, and is currently up more than 1% at around £18, after reaching £17.3 at clos...

Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...

Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...

Arslan Butt is an experienced webinar speaker, market analyst, and content writer specializing in crypto, forex, and commodities. He provides expert insights, trading strategies, and in-depth analysis...

Global finance leaders are facing a major uncertainty as they meet in Washington next week: Who will win the U.S. presidential election and shape the policies of the world’s biggest economy

Zee Entertainment Enterprises (ZEE) on Friday reported 70% year-on-year (YoY) growth in its consolidated net profit at Rs 209 crore for the quarter ended September 2024. It was Rs 123 crore a year ago. Analysts had pegged the core net profit for the September quarter at Rs 153 crore.

Subscribe to enjoy similar stories. Warren Buffett's warning about 'a pin waiting for every bubble' seems prophetic as the Indian stock market faces a much-needed correction. Despite the slew of reasons offered by mainstream media, such as Iran-Israel conflict, China stimulus, regulatory changes, the underlying reality is that Indian markets have been overvalued for some time now.

Adani Power Ltd. traded at Rs 606.3 on BSE at 01:29PM (IST) on Friday, down 0.46 per cent. The stock quoted a 52-week low price of Rs 289.3 and a high of Rs 896.75. Earlier in the day, the stock saw a gap up opening.

"Geopolitical events do not seem to be causing any impact on the world economy. In fact, there is potential for some deceleration in geopolitical problems over the next 12 months," says Mark Matthews, Julius Baer. The disconcerting factor we were discussing is when it comes to the quarterly earnings back home, is there some sort of a sense of a slowdown that could be prolonged due to macro concerns in India? Mark Matthews: I do not know if it is macro concerns, but you are absolutely right. I think the major issue facing India now is the deceleration in earnings growth. And the Nifty will still clock around 10% earnings growth this year, but the most recent quarter, it is looking very flattish.

National Securities Depository Limited (NSDL), one of the largest securities depositories globally, announced on Friday, October 18, that it has reached a significant milestone of Rs 500 lakh crore (US $6 trillion) in assets held in custody. This achievement marks a rapid increase in NSDL’s asset base. It took 18 years to reach Rs 100 lakh crore in June 2014, six years to cross Rs 200 lakh crore in November 2020, and just four more years to hit the Rs 500 lakh crore mark in September 2024.

United Spirits Ltd. dropped 0.93 per cent to Rs 1513.5 at 01:38PM (IST) in Friday's trade. The counter hit a high of Rs 1525.5 and low of Rs 1504.0 so far during the session. The stock had closed at Rs 1527.85 in the previous session. The counter had a total traded volume of 01:38PM shares so far with a turnover of Rs 0.43 crore on BSE. The stock traded at a price-to-earnings multiple of 77.72 and a price-to-book ratio of 11.55.

Subscribe to enjoy similar stories. China’s major commercial banks have cut their deposit rates for a second time this year, a move that could help ease pressure on lenders’ profits after officials lowered mortgage and lending rates as part of efforts to boost the economy. Industrial & Commercial Bank of China and China Construction Bank Corp.

Cholamandalam Investment & Finance Company Ltd. slipped 0.19 per cent to Rs 1453.5 in Friday's trade. It hit a high of Rs 1460.05 and low of Rs 1433.05 during the session. On the technical charts, the 200-DMA of the stock stood at Rs 1308.13, while the 50-DMA was at Rs 1492.23. 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.

European shares opened muted on Friday, after the European Central Bank's latest rate cut and upbeat earnings prompted strong gains in the previous session, with the main stocks gauge headed for a second weekly rise. The Europe-wide STOXX 600 index was down 0.05% at 0718 GMT, with real estate firms leading losses down 0.6%, while basic resources and autos helped to keep it afloat.

MphasiS Ltd. traded at Rs 3082.9 on BSE at 01:23PM (IST) on Friday, up 0.08 per cent from previous close. The scrip quoted a 52-week low price of Rs 2068.45 and a high of Rs 3186.95.

Havells India Ltd. traded 1.2 per cent higher in Friday's session at 01:14PM (IST). The stock opened at Rs 1806.0 and has touched an intraday high and low of Rs 1856.0 and Rs 1762.9, respectively, during the session so far. The stock quoted a 52-week high of Rs 2104.95 and a 52-week low of 1233.1. About 64,472 shares changed hands on the counter so far.

Pankaj Pandey, Head Research, ICICIdirect.com, says they have been very selective in giving recommendations largely because there is no follow-up. They have recommended an IT stock – Newgen Software – with a target price of Rs 1,465, the results were good and our sense is that the company will keep growing at 23-24 odd percent, both revenue and bottom line, over the next two-three years. Pandey says one needs to be very selective because up till now, the results have not been helping the market. They are also expecting hospitals to do well and have been recommending Narayana Hrudayalaya. What is the tone and tonality at the retail level in the last couple of days? I mean, is leverage coming down? Is participation coming down? The two important short-term indicators are mood and momentum. The momentum is waning and the mood has become sour. Pankaj Pandey: The mood keeps on changing depending on how things pan out. So, post Haryana Assembly election results, the mood definitely changed and now we have upcoming US elections and elections in Maharashtra. So, anxiety levels are higher. Our sense is that moods can change post the favourable outcome in some of these events.

Subscribe to enjoy similar stories. Infosys Ltd's September quarter (Q2FY25) results fell short of market expectations, leading to a nearly 5% drop in its share price on Friday. This was despite the IT major reporting a sequential constant currency (CC) revenue growth of 3.1%, exceeding consensus estimates.

Max Healthcare Institute Ltd. rose 0.17 per cent to Rs 935.95 in Friday's trade. It hit an intraday high of Rs 943.3 and low of Rs 924.85, respectively, during the day. The stock quoted a 52-week high price of Rs 1117.05 and low of Rs 538.95.

Pankaj Pandey, Head Research, ICICIdirect.com, says typically, any year, one could easily get 10-12% kind of a correction, and multiple corrections in the market. So 6% is already run, at max possibly 4-5% is very much possible. But Pandey thinks that the market ideally should bottom out at current levels. The second half is expected to be better because a lot of ordering, tendering should happen given the fact that H1 was quite soft. A lot of sectors in the second half are expected to do well. ICICIdirect is maintaining a target price of 27,500 for Nifty and about 15-16% CAGR growth in earnings for the next two years. How are you looking at the overall earnings because that is a bit disconcerting? There is such a divergence from what the Street was pencilling in and the kind of commentary and the kind of results that a lot of companies have been putting out and also across-the-board, the slowdown seems to be quite evident. How much of a concern is that? Pankaj Pandey: Overall, this was expected to be a softer quarter. We are already at peak margins of 19-20% for Nifty. So, incrementally margin expansion was definitely not the case. And we all know that in big sectors like IT, the demand is still soft and possibly Q4 is where some bit of a revival can be expected and obviously, we will have US elections impacting the sentiment as well and commodity prices continue to remain soft whether it is for steel, whether it is for cement.

DLF Ltd. traded at Rs 872.8 on BSE at 12:43PM (IST) on Friday, up 1.39 per cent from previous close. The stock quoted a 52-week low price of Rs 513.55 and a high of Rs 967.0.