Trade Financial News

chip giant TSMC into the elite club of the world's most valuable companies is further proof that the generative AI revolution is shaking up Wall Street. TSMC, listed in both Taiwan and New York, briefly broke the one trillion dollar market capitalization barrier on Monday, putting it ahead of Tesla as the seventh most valuable technology giant on the stock market.

interest rates are, it means different things to different people. Generally, the topic goes to where RBI sets interest rates (“kya lagta hi?”). Inflation and inflationary expectations will be discussed. More involved participants will look at where the 10Y Indian Government Bonds are trading. But as you come closer to the bond desk, the talk will move to the yield curve. So, the focus will be on which tenure security to take – referred to the point in the yield curve. This is because the shape of the yield curve constantly changes and provides opportunities to investors. Various strategies are adopted – barbell, bullet, on-the-run vs off-the run securities to try maximising returns/minimising pain. Now, the market has been divided into which part of the curve to remain focussed on, as the yield curve has flattened. Whether you take 1y Tbill or 30yGSEC, the rates are around 7%, give or take. The RBI repo rate as everyone knows, is 6.5% — the next move, we and the market believe, will be down, but the timing is not clear basis current inflationary dynamics. Some market participants therefore feel it is better to be in the shorter end (say 5Y) of the curve, as eventual rate cuts will result in curve to become steeper ie. 5Y yields will decline more than say a 15 year, but yet offer protection if the rates were to rise.

Mint looks at the key aspects of the latest Hindenburg post: The show-cause notice dated 26 June 2024 was sent to Hindenburg and Kingdon Capital Management, the only investor with which the US short seller shared the damning report on the Adani Group before publishing it. The notice details how Hindenburg violated some regulations, including inadequate disclosures on how it traded and profited. It estimates Hindenburg made $14.7 million from taking a short position in Adani.

Cholamandalam Investment & Finance Company Ltd. traded at Rs 1397.55 on BSE at 02:00PM (IST) on Tuesday, down 2.56 per cent. The stock quoted a 52-week low price of Rs 997.4 and a high of Rs 1475.95. Earlier in the day, the stock saw a gap up opening.

Keir Starmer led Britain's Labour Party to a landslide victory in the 2024 parliamentary election, taking over from the Conservatives after 14 years in opposition. Below are details on new Prime Minister Starmer and his freshly appointed team of senior ministers: KEIR STARMER, PRIME MINISTER

Japan's benchmark Nikkei 225 has surged to a record close of 40,913.65, leading markets in most of Asia higher

Yemen’s Houthi rebels conducted the largest number of attacks on commercial ships so far in 2024 in June, fresh proof that the group’s threat to trade intensified in recent weeks. There were 16 confirmed attacks on ships in June, according to figures published by the naval forces operating in the region. That’s the most for any single month in 2024, and was only eclipsed in December when more vessels were still sailing through the region. Separate figures published by the Washington Institute show a similar trend. Attacks by the Houthis ramped up in June, having shown signs of diminishing in the preceding months. The incidents included the second confirmed sinking of a vessel, as well as the first successful attack with a seaborne drone. The attacks are helping to contribute to the second-largest increase in a gauge of global sea transport on record as vessels sail thousands of miles extra around Africa.

Adani Power Ltd. gained 5.11 per cent to Rs 733.65 in Tuesday's trade. It hit a high of Rs 745.0 and low of Rs 696.0 during the session. On the technical charts, the 200-DMA of the stock stood at Rs 542.15, while the 50-DMA was at Rs 693.57. 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.

property sector in crisis and deflation fears. Here AFP looks at the main challenges facing the world's second-largest economy:

ONGC Videsh Ltd (OVL), the overseas arm of state-run explorer Oil and Natural Gas Corp. (ONGC), is raising $800 million through a five-year loan from three domestic banks, people familiar with the matter said. The loan is likely to be priced at 120 basis points above the three-month international benchmark Secured Overnight Financing Rate (SOFR), the people said. «Three banks, state-owned Bank of Baroda (BoB), private sector Axis Bank and Singapore-based DBS Bank are the mandated lead arrangers for this loan which is now being syndicated to other banks. Bankers will go on a roadshow to Singapore and Taipei later this month to broaden the scope of lenders in this deal,» said one of the persons cited above.

Meme trader Keith Gill, popularly known for his role in the GameStop trading frenzy, has disclosed owning a 6.6% stake in Chewy, according to a recent filing with the United States Securities and Exchange Commission (SEC).

The European Union is moving to sharply increase customs duties on electric vehicles made in China

The rally in the Japanese currency, which has been languishing at around 38-year lows, began on Thursday just after data showed U.S. consumer prices for June eased, boosting the odds of the Federal Reserve cutting rates as soon as September.

Hatsun Agro Products Ltd.(up 5.48%), Euro India Fresh Foods Ltd.(up 2.50%), ADF Foods Ltd.(up 2.15%), JHS Svendgaard Laboratories Ltd.(up 1.98%), Hindustan Foods Ltd.(up 1.95%), Dodla Dairy Ltd.(up 1.82%), Nakoda Group Of Industries Ltd.(up 1.22%), Mrs. Bectors Food Specialities Ltd.(up 1.21%), Bikaji Foods International Ltd.(up 0.91%) and Parag Milk Foods Ltd.(up 0.79%) were among the top gainers.

Deere is laying off nearly 600 workers as the farm equipment manufacturer deals with declining demand

Trent Ltd. rose 0.35 per cent to Rs 5616.0 in Friday's trade as of 01:29PM (IST) even as the benchmark Nifty ruled at 24250.8, down 51.36 points. The scrip had closed at Rs 5596.3 in the previous session. The stock quoted a 52-week low of Rs 1657.25 and a high of Rs 5643.85. The company quoted a market-cap of Rs 199715.96 crore on the BSE.

Chakri Lokapriya, Managing Partner, RSB LLP, says that it’s time to be cautious as at the Nifty level, the earnings continue to be weak at the index level simply because the main constituents, whether it is IT or pharma or metals are not going to contribute to the earnings growth. On the other hand, the broader market earnings growth at the index level is likely to be far stronger While Wednesday’s decline was led by a slew of discounts from Motown, given the weekly expiry, the Budget coming up ahead and then, of course, data points like US CPI as well at the global front, do you think it makes sense to go a little light into these events? Chakri Lokapriya: You are right in terms of the market has run up and gone into Budget there is a lot of expectation in those few sectors like defence, railways, infra, and agriculture also to an extent. While at the Nifty level, the earnings continue to be weak at the index level simply because the main constituents, whether it is IT or pharma or metals are not going to contribute to the earnings growth. On the other hand, the broader market earnings growth at the index level is likely to be far stronger. But those stocks have run up, so I think caution would be helpful at this juncture.

The NSE Nifty index traded 27.45 points down at 24296.4, while BSE Sensex was down 119.56 points at 79877.04 as of 10:14AM(IST)on July 08.

In a recent Bitcoin price prediction, fund manager Andrew Kang issued a stark warning about the potential for a May 2021-style crash.

Nifty ended Monday’s session flat amid non-directional activity, indicating indecisiveness between bulls and bears and formed a Doji-type candle on the daily chart. The short-term trend of Nifty continues to be positive. There is a possibility of continuation of this range movement for the next 1 or 2 sessions before witnessing further up move above 24,400 levels. A sustainable move above the key hurdle of 24,400 levels could open a sharp up move for the market ahead, said Nagaraj Shetti of HDFC Securities.

The Supreme Court has agreed to hear an appeal from the adult entertainment industry seeking to upend a Texas law that requires pornographic websites to verify the age of their users