Trade Financial News

Nifty and Sensex are consistently moving upwards and the bull run is expected to continue as the Lok Sabha election results were well absorbed by the market participants. Considering the past week, Nifty seems to have taken a support near the 23,400 mark while Sensex seems to be resisting the 77,850 level for the last 3 trading sessions as the BSE benchmark Sensex declined 269 points or 0.35% to settle at 77,209 on Friday while Nifty dropped 66 points or 0.28% to end at 23,501.

gold in the last one week has been 1.31% .whereas in the last month it has been 1.86%.The cost of silver is Rs.90850.0 per kg up by Rs.630.0 per kg. Gold Price Today in Delhi is ₹74710.0/10 grams. Yesterday’s Gold Price on 21-06-2024 was ₹73210.0/10 grams.

Nasdaq closed marginally lower on Friday, weighed down by a decline in Nvidia shares for a second straight day, which dragged down the technology sector. Technology was the biggest loser among the 11 major S&P 500 sectors, weighed by Nvidia, while communication services led the gain.

dollar edged higher against other major currencies on Friday, hitting a fresh eight-week high against the yen as data showed a strong U.S. economy and as the Federal Reserve's patient approach to interest-rate cuts stood in contrast to more dovish peers. U.S. business activity hit a 26-month high in June amid a rebound in employment while price pressures subsided considerably, suggesting that a recent slowdown in inflation was likely to be sustained.

Fiera Capital Corp.’s founder and his top managers solidified their control over the Canadian asset manager, striking a deal to buy out a top investor that was looking to exit its holding.

Elevated interest rates are an ongoing thorn in Canadians’ sides, leaving them staring at a “bleak” retirement outlook, according to a new survey.

Also read | With premium coffees and pricey hair serums, consumer goods makers woo the well-heeledHUL’s turnover in the financial year ended 31 March increased 2.5% year-on-year to ₹59,579 crore, while profit after tax rose 1.5% to ₹10,114 crore. Volumes grew 2%.While HUL is focused on expanding its premium products portfolio, Paranjpe is hopeful of a recovery at the mass-end of the market.“It is really the mass-end of the business where inflation had squeezed discretionary incomes of people and curtailed demand.

have urged the government to reduce taxes on farm equipment and increase allocations for agricultural research and development and a flagship programme meant to support farmers.In a meeting with Union finance minister Nirmala Sitharaman on Friday as part of consultations ahead of the annual budget for 2024-25, they also urged higher allocations to strengthen the Agricultural and Processed Food Products Export Development Authority (APEDA), a government export trade promotion body.The upcoming full-year budget is expected to be presented in July.India’s agriculture sector grew at a mere 1.4% in financial year 2023-24, much below its pre-pandemic decadal average of 4.4%, due to erratic monsoons. The sector is expected to improve in the current fiscal year because of anticipated normal monsoons and a favourable base effect.Agricultural stakeholders at the meeting on Friday also urged the government to strengthen trade and exports post-harvest management, develop districts as export hubs, establish boards for each agri-commodity under the private sector, and fund global market access programmes.“We have suggested an acceleration of agriculture growth rate through a substantial increase in agricultural R&D up to ₹20,000 crore from ₹9,500 crore," said M.J.

₹10.54 crore. The offering consists entirely of a fresh issue of 31 lakh shares.

Tata Steel workers in Britain will begin an indefinite strike from July 8 over the company's plans to close two blast furnaces and cut up to 2,800 jobs, the trade union Unite said on Friday. The strike action, described by Unite as the first strikes by British steel workers in 40 years, will take place at Tata's Port Talbot and Llanwern sites in Wales.

Prestige Estates Projects' board of directors on Friday approved a Rs 5,000 crore fundraising plan via the issuance of equity shares through the qualified institutional placement (QIP) or other permissible modes. The funds will be raised in one or more tranches, the company said in its filing to the exchanges.

Money Expo Indiawill feature leading Indian stockbrokers such as 5Paisa, Dhan, Fyers, ICICI Securities, and Mprofit, showcasing their groundbreaking broking services that are transforming the market.Money Expo, India's premier stock markets event, returns for its third edition, set to be the largest gathering of traders and investors in Mumbai. Scheduled for August 17-18, 2024, at the Jio World Convention Centre, this year's expo promises to be the largest event of its kind, welcoming over 15,000 attendees from more than 120 companies.This highly anticipated event underscores the importance of Asia as a hub for growth and innovation in the global digital asset ecosystem.

Bandhan Bank, which finished with a gain of 7.6%, while IDFC Bank also ended the week with a 7.10% gain.Also Read: HDFC Bank shares snap a 7-day winning streak; time to book profit?Heavyweights including HDFC Bank, ICICI Bank, Axis Bank, Kotak Mahindra Bank, and IndusInd Bank all concluded the week with gains ranging between 1.50% and 4.8%. Additionally, Federal Bank ended the week with a gain of 2.5%.Analysts attributed the strong rebound in shares of private banks to robust foreign portfolio investor (FPI) inflows during the week, coupled with profit booking in sectors like auto and FMCG, which had experienced substantial gains in recent weeks."The domestic market witnessed minor profit booking amid concerns over the slow progress of the monsoon, resulting in underperformance in the FMCG sector.

The ongoing artificial intelligence frenzy that briefly made Nvidia Corp. the world’s most valuable company this week also drove record inflows into tech funds, said Bank of America Corp. strategists.

GTRI on Friday suggested a host of reforms like increasing GST exemption limit for firms with up to Rs 1.5 crore turnover, reducing the number of slabs, and doing away with state-wise registration to make GST more efficient, business-friendly, and contributing to economic growth. As the implementation of Goods and Services Tax (GST) celebrates its 7th anniversary, having launched on July 1, 2017, it has become the world's largest platform for indirect taxes with over 1.46 crore registrations, Global Trade Research Initiative (GTRI) said. In FY24, GST collections reached Rs 20.18 lakh crore (USD 243.13 billion), with 29.85 per cent from imports, 26.92 per cent from inter-state supplies, and 43.23 per cent from within-state supplies. The dominance of within-state supplies highlights the need to simplify GST rules to promote inter-state trade, the global trade research body said.

Shares of Brigade Enterprises Ltd.(up 1.39 per cent), Sunteck Realty Ltd.(up 1.33 per cent), Macrotech Developers Ltd.(up 0.7 per cent) and Sobha Ltd.(up 0.57 per cent) ended the day as top gainers in the pack.

Shares of Kotak Mahindra Bank Ltd.(up 0.54 per cent), Bandhan Bank Ltd.(up 0.51 per cent), ICICI Bank Ltd.(up 0.16 per cent) and Au Small Finance Bank Ltd.(up 0.13 per cent) ended the day as top gainers in the pack.

Tata Chemicals stock to buy on Yoga Day 2024, with an upside potential of over 14 per cent.Assigning ‘buy’ rating to the Tata Group stock, Bagadia has given the target price of ₹1270/1320.“TATACHEM is presently trading at ₹1130. The stock has recently ready for breakout of Range on the daily chart with a significant increase in trading volume, indicating a potential breakout.

Thermax, a leading energy and environment solutions provider, have been on an upward trend over the last seven months, producing a stellar performance and significantly enhancing shareholder wealth in a relatively brief timeframe.During this period, the company's shares have grown from ₹2,533 apiece to the current market price of ₹5,061, resulting in a gain of 100%. Notably, the company finished 6 out of 7 months in positive territory, with December witnessing the largest monthly gain with a return of 22%.

Shares of Granules India Ltd.(up 3.89 per cent), Natco Pharma Ltd.(up 2.25 per cent), Ipca Laboratories Ltd.(up 0.98 per cent), Biocon Ltd.(up 0.85 per cent) and Dr. Reddy's Laboratories Ltd.(up 0.69 per cent) ended the day as top gainers in the pack.

On the BSE, Madras Fert(down 10.20 per cent), Billwin Ind(down 10.00 per cent), Mayur Floorings(down 9.66 per cent), Trinity League(down 9.12 per cent) and Essar Shipping(down 8.31 per cent) stood among the top losers in today's trade.