Trade Financial News

The traditional signal for a market bubble, as the popular adage goes, is when your cab driver or barber discusses stocks. The top-down variation of this indicator must be when finance ministry mandarins talk about asset allocation and profit booking. The Economic Survey 2024, tabled in Parliament by finance minister Nirmala Sitharaman on Monday, highlighted various drivers of the Indian economy and suggested policy measures to lift growth and safeguard economic resilience.

Indian stock market in just five years. According to data quoted in the Economic Survey 2023-24, the number of unique tax IDs registered on the National Stock Exchange (NSE) rose from 2.7 crore in FY19 to 9.2 crore in FY24. Going by the trend, a significant portion of the new investors are expected to be retail investors. What's even more surprising is that a majority of these new retail investors are likely to be young and have a higher appetite for risk.

Shares of Ashok Leyland Ltd.(up 3.02 per cent), Bharat Forge Ltd.(up 2.92 per cent), MRF Ltd.(up 2.23 per cent), Mahindra & Mahindra Ltd.(up 2.02 per cent) and Tata Motors Ltd.(up 1.33 per cent) ended the day as top gainers in the pack.

Hong Kong's CSOP Asset Management said it will launch the CSOP Bitcoin Futures Daily (-1x) Inverse Product on the city's stock exchange on Tuesday morning.

BigBloc Construction on Monday said its board has approved the issue of one bonus share for every equity share held by shareholders. The board of directors in its meeting on July 19 recommended the issue of bonus equity shares in the proportion of 1:1, that is, one bonus equity share for every existing equity share held by the company shareholders as on the record date, the company said in a filing. During the day, shares of the company soared to 7 per cent to hit Rs 284.90 apiece on the BSE.

Bitcoin (BTC), the world’s most valuable cryptocurrency, began this week on a bullish note, trading around $67,500 and reaching an intra-day high of $68,418.

Avenue Supermarts Ltd. traded 0.61 per cent down in Monday's trade at 01:18PM (IST). Around 12,531 shares changed hands on the counter. The stock opened at Rs 4913.5 and touched an intraday high and low of Rs 5029.4 and Rs 4913.5, respectively, in the session so far. The stock of Avenue Supermarts Ltd. quoted a 52-week high of Rs 5220.0 and a 52-week low of Rs 3493.05.

Tata Elxsi Ltd. traded 0.36 per cent up at Rs 6947.45 at around 01:24PM (IST) on Monday. The stock had closed at Rs 6973.25 in the previous session. Equity benchmark Sensex traded 114.02 points lower at 80490.63 around the same time.

Market veteran Madhu Kela feels that the one engine of the economy of India doing well is the stock market. It is aiding a lot of capital formation. There has never been a healthier situation for the government. Today, if the government wants to raise even Rs 1 lakh crore, they have to only sell 2-3% of the PSUs and that can give them fiscal space of maybe 0.3-0.4%. There are lots of levers. Why will they want to kill the market? The taxation is not low. When long-term capital gains or short-term capital gains tax is combined with dividend distribution, buyback taxation, STT, and income tax, it is not low and there is a marginal tax on F&O already. The most important point in the mind of the market right now is in the Budget tomorrow, especially in the backdrop of so much commentary coming in that regulator is saying mutual funds are taking away the bulk of deposits from the banking. The regulator, SEBI, is sounding worried about rising speculation on the F&O side. The market is expecting some move in the Budget to curb that. Is it justified to expect some move? Madhu Kela: Not a question I would have loved to start with.

Marico Ltd. traded at Rs 668.5 on BSE at 12:48PM (IST) on Monday, up 0.04 per cent from previous close. The scrip quoted a 52-week low price of Rs 486.75 and a high of Rs 686.7.

JSW Steel fell by 2.5% to its day’s low of Rs 866 in Monday's early trade on BSE after the company reported a 64% decline in its consolidated net profit at Rs 845 crore in the first quarter. The profit missed the Street estimates of around Rs 1,254 crore. Revenue from operations in the June quarter, however, increased 2% year-on-year (YoY) to Rs 42,943 crore.

Economic Survey 2023-24 tabled by Finance Minister Nirmala Sitharaman in Parliament on Monday.

Shares of Oberoi Realty jumped 6.5% to Rs 1780 in Monday's trade on BSE after the firm reported an 82% increase in its consolidated net profit to Rs 584.51 crore for the first quarter of the current fiscal on higher income. Its net profit stood at Rs 321.64 crore in the year-ago period. The company's revenue from operations increased 54.4% to Rs 1,405.2 crore against Rs 910 crore in the corresponding period of the preceding fiscal.

MphasiS Ltd. rose 0.51 per cent to Rs 2892.55 in Monday's trade as of 01:14PM (IST) even as the benchmark Nifty ruled at 24485.55, down 45.36 points. The scrip had closed at Rs 2877.6 in the previous session. The stock quoted a 52-week low of Rs 2068.45 and a high of Rs 2913.35. The company quoted a market-cap of Rs 54712.02 crore on the BSE.

United Spirits Ltd. gained 0.9 per cent to Rs 1309.6 at 01:03PM (IST) in Monday's trade. The stock hit a high of Rs 1312.9 and low of Rs 1293.0 so far during the session. The stock had closed at Rs 1297.85 in the previous session. The counter had a total traded volume of 01:03PM shares so far with a turnover of Rs 2.31 crore on BSE. The stock traded at a price-to-earnings multiple of 67.71 and a price-to-book ratio of 11.55.

AI), trade protectionism, resource-hoarding, excess capacity and dumping, and onshoring production are restricting the potential of countries to squeeze out growth from manufacturing and services; so the agriculture sector can be a growth engine for India and the world, the Economic Survey 2024 said.

Adani Power Ltd. traded at Rs 699.6 on BSE at 01:08PM (IST) on Monday, up 0.77 per cent from previous close. The stock quoted a 52-week low price of Rs 235.7 and a high of Rs 896.75.

PI Industries Ltd. gained 3.9 per cent to Rs 3982.95 in Monday's trade as of 12:43PM (IST). The stock hit a high price of Rs 3986.55 and low of Rs 3780.0 during the session.

₹1 crore. This penalty was imposed for his alleged involvement in front-running. The anchor allegedly used material non-public information to benefit from stock trades before it was broadcast.

Pidilite Industries Ltd. fell 0.09 per cent to Rs 3130.95 in Monday's session as of 12:38PM (IST) even as the equity benchmark Sensex traded 193.17 points lower at 80411.48. Earlier in the day, the stock witnessed a gap up start to the session. The stock quoted a 52-week high price of Rs 3244.65 and a 52-week low of Rs 2293.1 on NSE. Around 3466 shares changed hands on the counter till 12:38PM (IST).