Trade Financial News

British Prime Minister Keir Starmer has said he would seek to improve the trade deal with the European Union as he began a two-day tour of the U.K. as part of an “immediate reset” with governments in Scotland, Northern Ireland and Wales

Britain, senior officials of India and the UK will hold the next round of talks this month for the proposed free trade agreement to resolve the pending issues and close the negotiations, an official said. The India-UK talks for the proposed free trade agreement (FTA) began in January 2022. The 14th round of talks stalled as the two nations stepped into their general election cycles. The official said the two sides are in touch, and the next round would start this month only. Britain's newly-elected Prime Minister Keir Starmer spoke to Prime Minister Narendra Modi on Saturday and said he stood ready to conclude an FTA that worked for both sides.

Volkswagen unit MAN Energy Solutions' gas turbine business to a Chinese company on Wednesday, with ministers citing security reasons. The decision comes amid rising trade tensions between the EU and China. Germany's economy ministry can review and stop transactions deemed to have national security implications, and Berlin and the EU are trying to reduce risks from economic ties with Beijing. The planned sale of the German business to Chinese state-owned CSIC Longjiang GH Gas Turbine Co (GHGT) was announced in June 2023 at an undisclosed price, but MAN Energy Solutions said in September the government would take a close look.

Avenue Supermarts Ltd. traded 0.73 per cent down in Tuesday's trade at 12:02PM (IST). Around 5,369 shares changed hands on the counter. The scrip opened at Rs 4849.0 and touched an intraday high and low of Rs 4891.2 and Rs 4780.0, respectively, in the session so far. Shares of the company of Avenue Supermarts Ltd. quoted a 52-week high of Rs 5220.0 and a 52-week low of Rs 3493.05.

The initiative, dubbed the FIX-FinP2P Protocol Interoperability Alliance, aims to upgrade existing financial infrastructure to seamlessly interact with distributed ledger technology by facilitating interoperability across traditional financial systems and blockchain-based platforms.The alliance is dedicated to enabling messaging between traditional finance and digital securities, such as regulated institutional tokenized real-world assets including bonds, loans, securities lending, alternative investments, repo, and money market funds. It entails the integration of the open-source FIX Trading Community and the open-source FinP2P tokenization interoperability protocol, with Ownera as an integration partner.The Joint GDF and FIX Trading Community Working Group, which first met on June 20th, will operate over a four-month period, during which participating GDF and FIX community member firms and relevant blockchain technology firms will collaborate to test the integration of a FIX-based trading system with a FinP2P router in a sandbox environment.Anthony Woolley, co-chair of the GDF Tokenization Forum and head of business development and marketing at Ownera says: “The biggest challenge facing tokenization initiatives today is to connect market supply and demand at scale and make it easy for buy-side institutions to access the pipelines of high-quality assets now being tokenized by the sell-side.

«We will have a large surge in money coming into India, foreign money coming into India, primarily through the equity route and now increasingly through the bond route as well. And we have now an interim budget upcoming which could lay the foundation for further growth momentum to pick up,» says Mahantesh Sabarad, Independent Market Expert. Let us talk about the market move we have seen today. Slight bit of a subduedness in the middle part of the session, but we are back to almost the day's highest trading point for Nifty. Yet another record high also coming in for Nifty. Do you think this exuberance we are seeing in Nifty is sustainable going ahead given that the budget is just around the corner? Mahantesh Sabarad: There are multiple reasons why the markets are actually upbeat. It is not just today's session. If you look at the past several months, the upbeat market is trying to gauge into the future wherein we have the likely monsoon outcome going to be positive, we are going to have inflation coming down and therefore RBI looking for rate cuts later down in the year, probably post October.

Aditya Birla Fashion & Retail (ABFRL), Bandhan Bank, Chambal Fertilizers & Chemicals, Gujarat Narmada Valley Fertilizers and Chemicals (GNFC), Hindustan Copper, India Cements, Indus Towers, and Piramal Enterprises (PEL). Stocks' Futures & Options contracts enter a ban period when their open interest (OI) reaches 95% of the market-wide position limits (MWPL). The ban is lifted only when the open interest falls below 80% of MWPL.

Shares of Persistent Systems Ltd.(up 1.13 per cent) ended the day as top gainers in the pack.

Prices for major cryptocurrencies, as well as shares of Coinbase Global (COIN) and MicroStrategy (MSTR), slumped Friday as collapsed crypto site Mt. Gox began paying back creditors.

ICICI Lombard General Insurance Company Ltd. gained 1.0 per cent to Rs 1858.0 in Tuesday's trade as of 11:46AM (IST). It hit a high of Rs 1875.15 and low of Rs 1832.05 during the session. The stock quoted a 52-week high price of Rs 1877.0 and a low of Rs 1266.0. The return on equity for the stock stood at 15.72 per cent. About 32,428 shares have changed hands on the counter so far.

India Cements with a target price of Rs 130. The current market price of India Cements Ltd. is Rs 284.65. India Cements Ltd., incorporated in the year 1946, is a Small Cap company (having a market cap of Rs 8810.38 Crore) operating in Cement sector.

Dogeverse ($DOGEVERSE), the pioneering multichain meme coin, has announced its first centralized exchange (CEX) listing on MEXC, a leading crypto exchange.

Investment in electric vehicle manufacturing is booming in Morocco, a country that neighbors Europe and enjoys a free trade agreement with the United States

Ed Tilly is joining upstart brokerage-services provider Clear Street, as the former head of Cboe Global Markets Inc. takes a new leadership role in the securities industry. 

market myths and debunked them in a note. The myths listed by it include one that says that Indian markets are trading at reasonable valuations and the other that says that strong GDP growth is akin to high returns. Indian headline indices S&P BSE Sensex and Nifty50 have been creating new records since its June 4 debacle when the market crashed on the election results not giving a full majority of the Bharatiya Janata Party (BJP). There has been no looking back since then, with Sensex traversed over 8,300 points while Nifty soared 2,500 points. In percentage terms, the gains have been to the tune of 11.5%.

kabuli chana from the purview of the stock limit. This move is expected to help importers bring in more Kabuli chana into India ahead of the festival season. Pulses, including kabuli chana, are widely used in snack making and consumed as a source of proteins. An official gazette notification was put out late on Thursday, but it did not mention the reasons behind the exemption given on this particular pulse.

Q. What economic concerns are central in Britain’s 2024 election? A. Britain faces certain structural challenges now — growth is limping back to a very low level after a practically recessionary situation. It is unclear how GDP will increase. This problem is shared by other European economies and Japan as well. The United States escapes this by being a vast market with more robust demographics while Europe and Japan are ageing — one solution is immigration but it’s a highly problematic political issue in the UK. So, in Britain currently, there is no clear route to growth beyond 1% or 2% — we are not talking about anything close to the 6% or 7% seen in India.

Vedanta Ltd. fell 1.01 per cent to Rs 468.6 at 12:07PM hours (IST) on Monday. 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 287,386 shares with a turnover of Rs 13.61 crore till 12:07PM (IST). The stock traded at a price-to-earnings (P/E) multiple of 41.18, while the price-to-book value ratio stood at 3.29.

Benchmark NSE Nifty index rose 262.8 points to 24578.75 amid buying in frontline bluechip stocks.

LT Foods Ltd.(up 9.61%), Heritage Foods Ltd.(up 4.57%), ADF Foods Ltd.(up 3.91%), Emami Ltd.(up 3.71%), Nakoda Group Of Industries Ltd.(up 2.58%), Parag Milk Foods Ltd.(up 2.24%), Dangee Dums Ltd.(up 2.07%), Zydus Wellness Ltd.(up 1.83%), Bajaj Consumer Care Ltd.(up 1.41%) and Varun Beverages Ltd.(up 1.27%) were among the top gainers.

LiquiTrade, the operator of the Latoken crypto exchange, has been found guilty of illegally operating an exchange in Canada by a panel established by the British Columbia Securities Commission (BCSC).