Trade Financial News

Nikkei share average closed lower on Thursday, as chip stocks slid despite industry star TSMC reporting better-than-expected earnings, while investors waited for more earnings results from domestic and overseas firms for further direction. The Nikkei fell 0.7% to a one-week closing low of 38,911.19, while the broader Topix finished 0.1% lower at 2,687.83.

Central Bank of India on Thursday posted a 51 per cent jump in profit at Rs 913 crore in the second quarter ended September 2024. The lender had earned a net profit of Rs 605 crore in the same quarter a year ago. Total income increased to Rs 9,849 crore during the quarter under review, as against Rs 8,412 crore in the same period last year, Central Bank of India said in a regulatory filing.

Jitendra Sriram, Senior Fund Manager, Baroda BNP Paribas MF, says post the recent correction in the market, the utility space is definitely looking promising because of the energy demand that is coming in our economy and the kind of reactive steps that the utility sector is taking is definitely positive. That looks fairly interesting and even pockets of industrials are looking fairly interesting because the government was a little slow in the first half because of all the election dynamics, code of conduct and all these things. Further, Sriram says, one needs to keep the auto sector on the radar, but it could still shape up much better than what people are expecting. What is your take on the FMCG sector because over the last six or three months or so, we have been betting on the FMCG sector and there have been murmurs around the fact that a rural recovery is underway, the urban recovery is already there and maybe things will look better for the FMCG sector? Jitendra Sriram: It should happen because the monsoons have been fairly normal, and we would expect that at least the rural demand should start picking up.

Stocks in Europe regained some lost ground on Thursday as investors eyed a dovish outlook on top of an expected European Central Bank interest rate cut during the day, while parsing a largely upbeat set of corporate earnings. The continent-wide STOXX 600 index gained 0.4% at 0820 GMT, following a two-day decline.

Foreign Portfolio Investors (FPIs) Societe Generale, Tiger Pacific Master Fund and UBS Principal Capital Asia reduced their holdings in Paytm owner One 97 Communications below 1% in the September ended quarter. Societe Generale held a 1.98% stake in the Paytm parent in the April-June quarter while Tiger Pacific and UBS held 1.3% and 1.06% shares, respectively.

In its trading update for its financial year ended 30 September, released today (17 October), AJ Bell said gross and net inflows across the platform were «significantly higher» than last year, driven by improved retail investor confidence and investment into the platform. AJ Bell Investments promotes Ryan Hughes to managing director Gross inflows during the 12-month period were £13.1bn, up 41% on 2023's £9.3bn. Net inflows stood at £6.1bn in 2024, up 45% year-on-year, compared with £4.2bn in 2023. The trading update added there had been favourable market movements of £9.5bn, equat...

The figure marks an increase from both Q2 2024 and Q3 2023, when it stood at £181.8bn and £158.5bn, respectively. Over 25% of St James's Place funds fail to deliver value as 80% red-flagged for performance According to SJP's trading statement for the quarter ended 30 September published today (17 October), net inflows for the business continued albeit lower than the two prior periods. The wealth manager closed the third quarter with around £890m in net inflows, compared with £1.2bn at the end of June 2024 and around £910m in Q3 2023. FUM retention rate remained steady from Q2 20...

Shriram Finance Ltd. fell 3.17 per cent to Rs 3281.0 at 01:38PM hours (IST) on Thursday. Earlier in the day, the stock saw a gap down start to the session. As per data available on BSE, total traded quantity on the counter stood at 6,321 shares with a turnover of Rs 2.09 crore till 01:38PM (IST). The stock traded at a price-to-earnings (P/E) multiple of 16.02, while the price-to-book value ratio stood at 1.81.

Mphasis and Tech Mahindra on Thursday surged up to 5.5% on the NSE ahead of the second quarter results of major IT firms Infosys, Wipro and LTIMindtree, which are due later in the day. Mphasis shares gained the highest, rising 5.5% to the day’s high of Rs 3,072.10, followed by Infosys shares gaining 2% to an intraday high of Rs 1,958.35.

SRF Ltd. traded 2.34 per cent down at Rs 2249.2 at 01:34PM (IST) on Thursday, even as BSE benchmark Sensex dropped 481.03 points to 81020.33. The stock had settled at Rs 2303.3 in the previous session. The stock quoted a 52-week high and 52-week low of Rs 2697.45 and Rs 2081.25, respectively.

Nestle India tumbled 4% to the day’s low of 2,364.80 on BSE in Thursday’s trade after the company reported a marginal decline in its Q2 net profit to Rs 899 crore, slightly down from Rs 908 crore reported in the same period last year. This indicates a 1% year-on-year (YoY) decline in the PAT.

DLF Ltd. traded at Rs 861.95 on BSE at 01:44PM (IST) on Thursday, down 2.55 per cent. The stock quoted a 52-week low price of Rs 513.55 and a high of Rs 967.0. Earlier in the day, the stock saw a gap up opening.

«Going by the monthly put options on the Nifty seems like a good idea where we feel that these put options can double or even possibly triple from the current levels,» says Rahul Sharma, JM Financial Services. Third straight day of decline and today it is around 200 points down, that is what we are looking at the benchmark. Where do you see support levels to come in for the Nifty? Rahul Sharma: Clearly, this is another breakdown in the works and Nifty seems like the 24,700 low that we made on the 7th of October should be broken anytime soon. Well, the meaningful support is placed in the vicinity of 24,500, 25,400. So, another 300 to 400 points can be taken off from the current level. And we feel that there is still some time for the capitulation to happen.

Bharat Forge Ltd. dropped 0.79 per cent to Rs 1463.35 at 01:07PM (IST) in Thursday's trade. The counter has hit a high of Rs 1475.4 and low of Rs 1443.35 so far during the session. The stock had closed at Rs 1475.05 in the previous session. The counter has had a total traded volume of 8718 shares so far with a value of Rs 1.27 crore on the NSE. It traded at a price-to-earnings multiple of 73.12 and a price-to-book ratio of 7.33.

Gurmeet Chadha, Co-Founder & CEO, Complete Circle Consultants, says it is a little too early to comment on the festive season because we are not even midway of it, but if the trend continues, then there could be a little bit of derating in auto stocks because none of them trade below 25-30 times. Chadha also says that amongst two-wheelers, we have TVS Holdings also which is the holding company which they bought and Sundaram Clayton is in the portfolio. So, among the stocks that they would buy on a correction like this, TVS would be the first, followed by Bajaj Auto. He is more interested in auto ancillaries, including names like Sandhar Technologies and Uno Minda.

Tata Power Company Ltd. rose 1.61 per cent to Rs 452.9 in Thursday's trade. It hit an intraday high of Rs 462.7 and low of Rs 451.5, respectively, during the day. The stock quoted a 52-week high price of Rs 494.85 and low of Rs 230.75.

Havells India Ltd. traded 1.89 per cent up at Rs 1902.7 at around 01:13PM (IST) on Thursday. The stock had closed at Rs 1939.55 in the previous session. Equity benchmark Sensex traded 436.62 points lower at 81064.74 around the same time.

HDFC Asset Management Company Ltd. traded at Rs 4702.7 on BSE at 01:17PM (IST) on Thursday, down 2.69 per cent. The stock quoted a 52-week low price of Rs 2691.2 and a high of Rs 4862.0. Earlier in the day, the stock saw a gap up opening.

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...

Rachel Wolfson has been covering the cryptocurrency, blockchain and Web3 sector since 2017. She has written for Forbes and Cointelegraph and is the host and founder of Web3 Deep Dive podcast.

Cummins India Ltd. slipped 2.13 per cent to Rs 3715.1 in Thursday's trade as of 12:47PM (IST). The stock hit a high price of Rs 3838.55 and low of Rs 3711.0 during the session.