Trade Financial News

Avenue Supermarts Ltd. traded at Rs 5105.55 on BSE at 12:12PM (IST) on Tuesday, down 0.05 per cent. The stock quoted a 52-week low price of Rs 3493.05 and a high of Rs 5220.0. Earlier in the day, the stock saw a gap up opening.

Info Edge (India) Ltd. traded at Rs 7088.8 on BSE at 12:23PM (IST) on Tuesday, down 0.14 per cent from previous close. The scrip quoted a 52-week low price of Rs 3973.15 and a high of Rs 7261.55.

SRF Ltd. gained 0.79 per cent to Rs 2528.1 at 11:47AM (IST) in Tuesday's trade. The counter has hit a high of Rs 2532.75 and low of Rs 2502.15 so far during the session. The stock had closed at Rs 2508.1 in the previous session. The counter has had a total traded volume of 3351 shares so far with a value of Rs 0.85 crore on the NSE. It traded at a price-to-earnings multiple of 61.09 and a price-to-book ratio of 6.63.

United Spirits Ltd. slipped 0.03 per cent to Rs 1420.05 in Tuesday's trade. It hit a high of Rs 1429.8 and low of Rs 1405.75 during the session. On the technical charts, the 200-DMA of the stock stood at Rs 1148.76, while the 50-DMA was at Rs 1272.99. 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.

NTPC rallied 5% to hit a fresh record high at Rs 412.6 in Tuesday's trade on BSE after the global brokerage firm Jefferies maintained its ‘Buy’ rating on the state-owned company and increased the target price from Rs 445 to Rs 485. The global brokerage firm believes NTPC's execution pace is expected to pick up significantly. Jefferies further stated that NTPC already has a 24 GW renewable energy pipeline in place and is targeting 60 GW by 2032. Additionally, earnings visibility is improving, particularly with thermal power projects, as 9.6 GW is currently under construction and another 15.2 GW is set to be awarded.

Bandhan Bank Ltd. rose 1.02 per cent to Rs 220.95 at 11:52AM hours (IST) on Tuesday. 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 811,442 shares with a turnover of Rs 17.83 crore till 11:52AM (IST). The stock traded at a price-to-earnings (P/E) multiple of 13.86, while the price-to-book value ratio stood at 1.34.

India's gold demand in the June quarter fell 5% from a year ago, but consumption in the second half of 2024 is set to improve due to a correction in local price following a steep reduction in import taxes, the World Gold Council (WGC) said on Tuesday.

Marico Ltd. fell 0.21 per cent to Rs 681.15 in Tuesday's session as of 11:42AM (IST) even as the equity benchmark Sensex traded 369.31 points higher at 81725.15. Earlier in the day, the stock witnessed a gap down start to the session. The stock quoted a 52-week high price of Rs 690.95 and a 52-week low of Rs 486.75 on NSE. Around 26798 shares changed hands on the counter till 11:42AM (IST).

VL Infraprojects listed on the NSE SME platform with a premium of 90% on Tuesday. The stock debuted at Rs 79.8 against an issue price of Rs 42. Ahead of the listing, the company's shares traded with a GMP of around Rs 60 in the unlisted market.

Colgate-Palmolive (India) Ltd. gained 5.81 per cent to Rs 3395.65 at 10:00AM (IST) in Tuesday's trade. The scrip has hit a high of Rs 3411.0 and low of Rs 3254.1 so far during the session. The stock had closed at Rs 3209.15 in the previous session. The counter has had a total traded volume of 40196 shares so far with a value of Rs 13.54 crore on the NSE. It traded at a price-to-earnings multiple of 65.34 and a price-to-book ratio of 27.81.

Domestic benchmark index NSE Nifty gained 19.86 points to 24855.95, while the BSE Sensex traded 75.62 points up at 81431.46.

Based on the consensus expectations, Jitendra Sriram, Senior Fund Manager, Baroda BNP Paribas Mutual Fund, expects the market may be marginally disappointed with the earnings in the current quarter. «While the consensus earnings for FY2024-25 are in the low teens, we expect the growth to be more in 2H,» he said, explaining that elections and heat waves slowed down economic activities during the quarter. Edited excerpts: With Sensex above 81,000, how tough is it to find new stocks to invest in? Many stocks are trading well above their historical average valuation levels. Index hitting a new high is a derivative of high economic activity and function of earnings growth. Despite equity trading at a new high, valuations are in line with long term averages. Thus, market returns are tracking earnings momentum.

small caps and 20% of midcaps are trading above reasonable valuation levels,” says Pradeep Gupta, Co-founder & Vice-chairman, Anand Rathi Group. In an interview with ETMarkets, Gupta said: “Investors should avoid these overvalued pockets, at least from a short- to medium-term perspective,” Edited excerpts:

Central Bank’s policy meeting globally as the US Federal Reserve, BOE, and BOJ will announce their decisions. «Interest-sensitive sectors including banking will remain in focus. Overall, we expect the market to continue its gradual uptick, however, volatility cannot be ruled out ahead of key events,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal.

Asian stocks opened lower amid speculation investors are trimming some of their holdings before a rush of events in coming days including major central bank decisions, key economic data and earnings from US megacap companies. Equities slipped in Japan and Australia in early trading, while futures signaled a decline in Hong Kong. US stock futures edged lower in Asia hours following a rotation in the American shares that drove the Nasdaq 100 to the brink of a correction. The S&P 500 closed little changed and small caps slipped.

The nine US ETFs holding the Ethereum cryptocurrency saw outflows of $340 million during their first week of trading as investors pulled money daily from a high-fee legacy product that was converted to an exchange-traded fund.

Finra has fined a California-headquartered broker dealer $475,000 for a years-long failure to establish and maintain adequate supervisory systems to prevent excessive trading that resulted in millions of dollars in trading costs across roughly one hundred accounts.

The Securities and Exchange Commission (SEC) has concluded its action against Richard Keith Robertson and IFP Advisors, LLC, sanctioning them for a deceptive cherry-picking scheme that unfairly allocated trades to the detriment of their clients.

With rising open interest peaking at $3.25 billion, market optimism for cryptocurrencies such as Solana price is on an upswing, hinting at potentially higher valuations.

Bitcoin (BTC), the world’s oldest and most valued cryptocurrency, started the week on a bullish note, remaining above $69,000.

Stocks that traded heavily or had substantial price changes on Friday: Newell Brands, 3M rise; Saia, DexCom fall