Trade Financial News

Tesla’s second-quarter net income fell 45% compared with a year ago as the company’s global electric vehicle sales tumbled despite price cuts and low-interest financing

The Federal Trade Commission has ordered information from eight companies that the agency says offer products and services that use personal data to set prices based on a shopper’s individual characteristics

Stocks that traded heavily or had substantial price changes on Tuesday: UPS, Comcast fall; GE Aerospace, Sherwin-Williams rise

BEIJING — Four of the world's largest semiconductor equipment manufacturers, including ASML, have seen the share of their China revenue more than double since late 2022, Bank of America analysts said in a report Monday.

MRF will likely remain in focus today as the company along with its Q4FY24 results, declared a dividend of Rs 194 per share for its eligible shareholders. The company had fixed July 25 as the record date for this purpose, according to StockEdge data. This means that today is the last date to buy the shares of the company in order to be eligible for the dividend payment.

Union Budget, Indian benchmark equity indices opened marginally lower on Wednesday, weighed down by index heavyweights Reliance Industries, banking, and financial stocks. The BSE Sensex was trading 37 points, or 0.05%, lower at 80,396. The Nifty50 was down 28 points, or 0.11%, trading at 24,451 around 9:20 am.

Stocks that were in focus include names like Indian Hotels, which gained 0.79%, JSW Steel, which rose 0.61%, and BPCL, whose shares declined 0.73% on Tuesday.

budget delivered on most counts for the economy, but may have disappointed the market through higher capital gains tax on equities and securities transaction tax on futures and options. On the positive side, we highlight (1) the moderately higher spending on farm and rural economy and lower income tax for middle-income households, which is a positive for consumption, (2) the thrust on employment generation through several new measures and (3) fiscal consolidation, which is a positive for bond markets and yields. On the negative side versus market expectations, we note (1) the unchanged capex compared with the interim budget figure and (2) a higher capital gains tax on equities. The government may pursue further rationalisation in the capital gains structure for various asset classes over a period of time. The government increased allocation to revenue expenditure (6.2% increase versus 3.2% in the interim budget) and cut income tax rates for middle-income households, which is a positive for consumption sectors. The higher proposed spending on social welfare schemes and rural development will drive a faster recovery in the farm and rural economies. The reduction in income tax rates for the lowest income tax slabs corresponding to middle-income households should provide an impetus to two-wheeler, consumer durables, QSR and other discretionary items.

Investors must now shell out more taxes on gains from listed stocks and equity mutual funds. The government in the budget on Tuesday proposed raising the capital gains tax on profits made from listed equities — both for the short term and the long term. Capital gains are profits or gains arising from the sale of stocks, equity-oriented products, and real estate. The tax differs for various products depending on the time frame and period. The tax on long-term capital gains (LTCG) — profits on equities held for more than a year — was raised from 10% to 12.5%. Tax on short-term capital gains (STCG) — profits booked within a year — rose from 15% to 20%.

equity benchmarks ended flat on Tuesday following a roller-coaster session as investors took concerns over the increase in taxes on stock market transactions in their stride. The Nifty ended 0.12%, or 30.20 points, lower at 24,479. The Sensex declined 0.09%, or 73.04 points, to 80,429.

«While the overall sentiment remains positive without signs of weakness, the market appears overbought by various measures. Therefore, we advise against aggressive long positions,» said Rajesh Bhosale, Equity Technical Analyst, Angel One.

Wall Street's main indexes ended slightly lower on Tuesday, having given up meager intraday gains in the final minutes of trading, as investors switched their focus to the latest earnings from Alphabet and Tesla . The duo kicked off results from the so-called Magnificent Seven stocks after the market closed, with both recording positive revenue numbers for the second quarter,

STT) — collected on trades done in equities or derivatives on the exchange platform —for the sale of futures and options. The move is expected to dampen the heightened activity in stock futures and options that was seen as a matter of concern for the authorities and the regulators.

The most actively traded ETFs were Grayscale's Ethereum Trust, with more than $450 million in turnover, the iShares Ethereum Trust, with about $245 million in trading, and Fidelity Advantage Ether ETF, with $137 million, Bitwise said.

currencies touched multi-week lows on Wednesday tracking weakness in Chinese demand, while the yen has surged as short-sellers bail out ahead of a central bank meeting. Purchasing managers' index figures will be particularly watched in Europe later in the session to see whether they support bets on two European rate cuts by the end of January.

crude inventories caused oil prices to rebound on Wednesday after several days of decline, while expectations for a nearing ceasefire deal in the Middle East kept prices from continuing to climb. Brent crude futures for September rose 46 cents to $81.47 a barrel by 0020 GMT. U.S. West Texas Intermediate crude for September increased 42 cents to $77.38 per barrel.

Ether, the underlying cryptocurrency of the Ethereum crypto network, and its associated spot exchange-traded funds moved slightly lower on the first day of trading for the new investment products.

Check out the companies making headlines in extended trading:

Used car prices in Canada are coming down from last year’s peaks thanks to a surge in inventory and buyers shifting back to the new vehicle market, according to a new report.

Nine spot ether exchange-traded funds (ETFs) began trading on the stock exchanges Tuesday, but all the optimism ahead of their approval didn't translate into gains for the crypto markets.

SWITCH TO EMISSION TARGETS: Plan for Hard-to-abate Industries The budget has proposed a road map for moving the hard-to-abate industries such as steel and cement from energy efficiency targets to emission targets. Regulations for transition of these industries from the perform, achieve, and trade mode to Indian carbon markets will be put in place. It is essential to meet net zero goals, said Shashank Sharma, chairman of Sunsure Energy. The units will also get financial support for making the cleaner switch.