Trade Financial News

India's goods and services exports are expected to cross USD 800 billion this fiscal despite global challenges, Commerce and Industry Minister Piyush Goyal said on Saturday. In 2023-24, the shipments stood at USD 778.2 billion (goods USD 437.1 billion and services USD 341 billion).

Nifty ended Friday’s session in red at 24,010. Since Tuesday’s session, the prices made new peaks each day, the all-time high of the index currently being 24,174. Nifty is sustaining nearly 300 points above its 10 day exponential moving average while Bank Nifty is trading close to 550 points above the same on daily charts.

Union Commerce and Industry Minister Piyush Goyal, expressing concerns over the extension of the Interest Equalisation Scheme (IES) for only two months and exclusively for MSMEs. Federation of Indian Export Organisations (FIEO) president Ashwani Kumar highlighted that the scheme has so far benefitted not only MSMEs but also merchant exporters and large manufacturing companies at a lower rate of two per cent for 410 tariff lines, covering labour-intensive products. The current scheme, valid till June, provides pre and post-shipment rupee export credit, offers a two per cent interest equalisation rate for manufacturers and merchant exporters dealing with specified 410 export items, and a higher rate of three per cent for MSME manufacturers exporting under any of these items.

Sensex and Nifty 50 trading at highs, concerns about an impending stock market crash or significant decline are natural. This fear intensifies considering the substantial rise in midcap and smallcap stocks over recent years. The stock market operates based on collective investor sentiment. Positive news boosts stock prices, while negative sentiment drags them down.

In 2019, Boris Johnson rode to a big election win on a promise to “Get Brexit Done" and finally strike a deal with the European Union for Britain’s departure. Next week, the Conservative Party that delivered Brexit goes to the polls again, this time facing a deficit of more than 20 percentage points and almost certain defeat by the opposition Labour Party. The only question, it seems, is the scale of the wipeout for the hapless Rishi Sunak and his Tories.

market continued its momentum through this year as well with as many as 34 listings so far in the first half. This was higher than the debuts seen in H1 of previous year. The fundraising of Rs 26,272 crore, however fell short of the previous two years likely due to the absence of mega issues. Investors' reception also remained positive with only one failed IPO.

Bitcoin (BTC) bounced off the psychological support level of $60,000 to trade above $60,500. The Core PCE Price Index, the Federal Reserve’s preferred inflation gauge, came in at 0.1%, slightly below expectations of 0.2%.

Securities and Exchange Board of India (Sebi) board held a meeting on June 27, Thursday and approved some major policy shifts including the exit and entry criteria for stocks in derivatives segment and tightening rules around finfluencers. ETMarkets has summarised key announcements made by the market regulator. Here are top 10 Sebi announcements:

Abheek Barua, Chief Economist, HDFC Bank, says there is a laundry list of items that need to be addressed before we get on, and climb back onto that 8% to 9% sustainable growth path. We could have a one-off 8% or an 8.5% growth, but that is not what the steady state growth would be. I think the steady state would be closer to 7% to 7.5% in a good year. There has been a very interesting comment made by the RBI Governor recently that India is at the cusp of a structural shift as far as the economy goes and we could be moving towards a sustainable 8% kind of GDP growth. Do you think that 8% growth is sustainable? And is it realistic? And what would it take to achieve that kind of sustainable growth?

Rajesh Palviya, Head-Technical Research, Axis Securities, says put writers are aggressive at 24,000 strike as well as 23,800 strike, and so these are the important levels on the downside to hold the market. If it holds the 24,000 level in the coming week, then this rally can extend higher, and the possible target for Nifty can be 24,400 also very soon. For Bank Nifty, 52,000 is the immediate support area based on the put concentration. The two levels – 52,000 as well as 51,800 – attracted more put writing in Friday's session also. If Bank Nifty crosses the 52,600 mark, then this rally can extend further towards 53,400 to 53,600. So, both indices are looking bullish at this moment; buy-on-dip should be your strategy. We have seen consecutive record highs on the benchmarks for the broader markets as well over the week. What sense are you making of these moves? Is this a too-much-too-soon kind of rally? Are you penciling in some kind of slowdown next week? What are the levels you are watching out for when it comes to the benchmarks?

₹12,000- ₹13,000 a month, which is often barely ₹5,000 more than what they earn in their hometown. Ajit Gulabchand, chairman of engineering and construction firm HCC Ltd, noted that there was a “clear shortage of both skilled and competent workforce who are heading for not just the Middle-Eastern countries but even Russia". The chairman of the Mumbai-headquartered firm that works on highway, roads, bridges, etc., stressed on taking immediate steps to improve the gap.

interest rate sensitivity of a major trading portfolio for state-owned public sector banks and foreign banks increased from September 2023 to March this year, implying greater exposure to the impact that volatility in bond yields can have on profits and capital. «The AFS (available for sale) portfolio's sensitivity (PV01) increased for PSBs (public sector banks) and FBs (foreign banks) since September 2023, while it declined for PVBs (private banks),» the Reserve Bank of India (RBI) said in its June 2024 Financial Stability Report.

The past few weeks have been bad for the crypto market, especially for Bitcoin, which has consistently dipped below $60K and played a little above that resistance mark.

Shiba Inu (SHIB) has long been a favorite among meme coin investors. Despite a recent dip that sent its price below the $0.000017 support level, SHIB has entered a buy zone, presenting a unique and time-sensitive opportunity for investors.

Exchange-traded fund issuer T-Rex Group filed for its 2X Long MSTR Daily Target ETF – a product analysts say could become the most volatile ETF in the United States – with the Securities and Exchange Commission (SEC) on Tuesday.

Bill Ackman’s Pershing Square set the initial public offering price of its US closed-end vehicle at $50 per share, as the billionaire’s firm moves ahead with what could be the largest ever closed-end fund in the US. 

The former CEO of Brazilian retail giant Americanas, Miguel Gutierrez, was arrested Friday in Madrid, and stands accused of participating in a 25 billion reais ($4.5 billion) fraud scheme

Stocks that are trading heavily or have substantial price changes on Friday: Nike, Kura Sushi fall; Infinera, Protagonist Therapeutics rise

Sebi on Friday cancelled the registration of LFS Broking and barred its MD Saiyad Jiyajur Rahaman from being employed or associated with any registered intermediary for five years for violating market norms. The regulator also cancelled the registrations of LFS Broking as a stockbroker, portfolio manager, depository participant, and research analyst. «I note that since the Noticee No. 2 (Saiyad Jiyajur Rahaman) has not acted with integrity, and honesty and has not displayed ethical behaviour and fairness, he ceases to be a fit and proper person in terms of the Intermediaries Regulations,» Sebi's Whole time member Kamlesh C Varshney said in the 56-page order.

Orion, the leading wealth tech provider for fiduciary advisors, is rolling out new offerings designed to give advisors greater flexibility in managing their business.

JP Morgan bond index got off to a muted start with a lower-than-expected quantum of foreign flows on Friday, belying expectations of an immediate deluge. Bankers, including a top executive at the US bank, said however that overseas investment worth billions will steadily be pumped into the debt market of the world’s fastest-growing major economy. Indian bonds debuted in JP Morgan’s GBI-EM global index suite on Friday, with the country expected to reach a maximum weight of 10% in the GBI-EM Global Diversified Index over a 10-month period. JP Morgan’s analysts expect foreign investment worth $20-25 billion to flow into the local bond market from the move.