Trade Financial News

Godrej Consumer Products Ltd. traded at Rs 1488.65 on BSE at 12:02PM (IST) on Wednesday, up 0.63 per cent from previous close. The stock quoted a 52-week low price of Rs 959.55 and a high of Rs 1524.7.

SRF Ltd. gained 1.72 per cent to Rs 2530.4 in Wednesday's trade. It hit a high of Rs 2551.65 and low of Rs 2502.0 during the session. On the technical charts, the 200-DMA of the stock stood at Rs 2394.56, while the 50-DMA was at Rs 2397.06. 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.

Anurag Singh, Founder & Managing Partner, Ansid Capital, says fundamentals do not change like that. The unwinding of carry-trade has happened now. Hopefully, that is behind us. People will not again try and play smart on this, borrowing in yen and investing in US or global markets. What do you make of first the big global meltdown on Monday and the recovery thereafter? Anurag Singh: I will not pretend to act as if I saw this coming. I was also caught by surprise. I was traveling in the last couple of weeks and was not prepared for it. Well, all fingers point to the yen carry trade. Now, of course, everybody knows how that works and looks like that because it was a quick technical selloff.

BlackRock and Nasdaq on Tuesday filed with the SEC to introduce options for the iShares Ethereum Trust (ETHA), BlackRock’s spot Ethereum ETF.

₹15 trillion was wiped out in a single day, even as the volatility index shot up 60%. Like Chaos Theory, at first it looked as if a little flap in the US over a fast-weakening jobs market—and hence recession risk—had triggered a market quake in Japan, with tremors felt everywhere else. The web of causes and effects that shook stock indices, however, isn’t all that hard to explain.

The dramatic selloff Monday in cryptocurrencies, which fell in tandem with stocks amid concerns about a slowing U.S. economy, not only made investors nervous, but also tested the case of bitcoin as a safe-haven investment.

Mint has seen an email sent by Angel One to a client citing market volatility for virtually halting the facility. “Due to market volatility, there will be 100% margin for Margin Product effective 06-Aug-2024 till further notice to safeguard clients’ interest..." A company spokesperson declined to elaborate as the listed company is in a silent period until 9 August. MTF is an industrywide practice.

shockwaves through the market. India, while fundamentally strong, is not immune to these external headwinds. Earlier this quarter, Buffett had already offloaded stocks in Bank of America and BYD, boosting his cash reserves to $280 billion.

Equity benchmarks dropped in Japan and Australia, while futures pointed to modest gains in Hong Kong. The S&P 500 and Nasdaq 100 rose on Tuesday — following a Japan-led rebound in Asia — with both climbing 1% after a global meltdown. Wall Street’s “fear gauge” — the VIX — saw its biggest plunge since 2010.

10X Research CEO Markus Thielen warns that buying the dip on Bitcoin is “too risky” post-crash. Meanwhile, other analysts point towards signs of stabilization.

A renewed wave of dip buying spurred a rally in stocks after a roughly $6.5 trillion selloff that shook markets around the globe.

It was a busy Monday for financial advisors, many of whom were forced to spend hours on end talking clients down from proverbial ledges as the stock selloff gained steam.

Monday’s market drop got to some retirement investors, who responded to the volatility by selling large cap stock and target-date funds and stable-value, bond-, and money-market funds.

Canada unexpectedly recorded a $638 million trade surplus in June as an expanded crude oil pipeline and surging global demand for gold drove exports higher.

Bank of Montreal has sold about £300 million (US$381 million) of Thames Water’s senior debt at an almost 30 per cent discount, according to people familiar with the transaction.

Tata Power Company Ltd is scouting for more public-private hydropower projects in Bhutan, Praveer Sinha, chief executive officer, and managing director, said. On Tuesday, Tata Power announced that it has partnered with Druk Green Power Corporation Limited to develop the 600 MW Khorlochhu Hydropower Project in Bhutan with 40% equity investment. The estimated project cost is ₹6,900 crore. The cost of acquiring 40% equity is ₹830 crore, the company added. No Indian governmental or regulatory approvals are required for the transaction. «The hydro project with Bhutan is a game changer. This may be the beginning of many more such projects in Bhutan. We may look at three to four projects over the next five to seven years,» said Sinha. The company said it is working towards large-scale round-the-clock availability of power by harnessing the vast potential of hydropower through the development of the 600 MW Khorlochhu power project and its upcoming 2800 MW pumped hydro storage plants in Maharashtra.

Google violated antitrust laws by maintaining its monopoly in the search engine market. Mehta found that Google's practice of paying companies like Apple to set it as the default search engine on their devices and browsers constituted an abuse of its dominant position. The antitrust lawsuit, initiated by the US Justice Dept and several states in 2020, went to trial in September 2023. In the ruling, Mehta stated, 'The court concludes that Google is a monopolist and has acted to maintain its monopoly, thereby violating Section 2 of the Sherman Act,' which prohibits individuals or businesses from 'monopolising, attempting to monopolise, or conspiring to monopolise any aspect of trade or commerce'. The search engine colossus today handles about 90% of global search queries. It has become so ubiquitous that 'to Google' is a verb synonymous with online searching, veritably making it gatekeeper of the internet for billions.

Canadian markets are catching up to a global selloff on Tuesday that rocked major stock indices around the world the day before.

Brokerage firm Robinhood has announced a temporary suspension of its overnight trading services due to issues with its execution venue.

ARK Invest capitalized on Monday’s significant market downturn by acquiring Coinbase (COIN) shares for the first time in months.

Bitcoin’s price recently rebounded to around $55,126 after dipping below $50,000, reaching an intraday high of $56,245. This recovery comes amid a series of economic pressures, including the U.S. Federal Reserve’s decision to maintain high interest rates, which has heightened recession fears.