Trade Financial News

Benchmark NSE Nifty closed 41.91 points up at 23516.0 amid selling in frontline bluechip counters.

The NSE Nifty index ended the session 41.91 points down at 23516.0, while BSE Sensex rose 36.45 points to 77337.59.

Silver prices also climbed Rs 100 to Rs 91,400 per kg. It had ended at Rs 91,300 per kg in the previous session.

North Dakota’s financial regulatory authority has joined other US states in withdrawing Binance.US’ money transmission license.

A bulk carrier sank in the Red Sea days after an attack by Yemen’s Houthi rebels believed to have killed one mariner on board

Japan has reported its exports surged 13.5% in May, helped by a weak yen and strong demand in the U.S. and Asia

The Federal Trade Commission has referred a complaint against TikTok and its Beijing-based parent company to the Department of Justice

Fatigue is setting in as a U.S. aircraft carrier nears its ninth month waging the most intense running sea battle since World War II

Global stocks are mixed after U.S. benchmarks ticked to more records following the latest signs that the U.S. economy may be slowing without falling into recession

₹25,000 crore or so, including an offer-for-sale (OFS) for more than 142 million existing shares, or around 17.5% of the company. All the proceeds will go to the giant parent firm, the world’s third-largest automaker after Toyota and Volkswagen. The retail quota for the IPO is 35%, and potential investors should consider some interesting points.

Nifty Index Top Gainers and Losers TodayThe top gainers in the Nifty index were HDFC Bank (up 3.11%), Axis Bank (up 2.92%), ICICI Bank (up 1.92%), Kotak Mahindra Bank (up 1.59%), and Indusind Bank (up 1.35%). On the other hand, the top losers in the Nifty index were Titan Company (down 3.53%), Larsen & Toubro (down 2.69%), Maruti Suzuki India (down 2.54%), Bharti Airtel (down 2.52%), and Hindalco Industries (down 2.41%).The bank nifty ended at 50440.9, with an intraday high of 51957.0 and a low of 50441.75.

In Wednesday’s trading session, the following five stocks witnessed a build of fresh long positions. Lets first understand how this conclusion is reached that whether the stock has seen a buildup of fresh long position or not. When the stock prices move up and open interest on the counter also moves upward, it is taken as a sign of a long buildup. The signal is considered more reliable if the volume on the counter has also seen an increase.

Coming to the buildup of fresh short positions, When the stock prices move downward and open interest on the counter increases, it is taken as a sign of a short build-up. The signal is considered more reliable if the volume on the counter has also seen an increase as the stock price was declining.

₹28 crore. Sylvan Plyboard IPO will open for subscription on Monday, June 24, and close on Wednesday, June 26.Sylvan Plyboard IPO price band has been fixed at 55 per share.

Also Read: Indian banks well placed with strong balance sheets, cheap valuations, says CLSAWhile operating profit growth in FY25 is expected to be superior for PSU banks compared to private banks, the brokerage sees more valuation comfort in private bank multiples versus those of PSU peers. Large-cap private banks like Kotak and HDFC Bank and mid-cap banks like IndusInd Bank are trading at valuation discounts to historical trends due to near-term idiosyncratic concerns.

Industrial real-estate companies have been showing more interest lately in the roofs of their structures, where warehouse operators are looking to cut energy costs, reduce emissions and even make money from the sprawling and mostly unused space by installing solar panels. Matt Schlindwein is taking his time adopting the technology, however. The managing partner of East Brunswick, N.J.-based industrial real-estate firm Greek Real Estate Partners said a fraction of the more than 300 warehouses he manages in the Northeast have solar panels on their roofs.

Also Read: Dee Development Engineers IPO: GMP, review, subscription status, other details. Apply or not?The engineering company, Dee Development IPO price band has been fixed in the range of ₹193 to ₹203 per equity share of the face value of ₹10.

A sector’s contribution is traditionally assessed through economic metrics. However, in today’s complex geopolitical landscape, the significance of port infrastructure transcends these measures. This sector holds strategic importance for India’s economic vitality, geopolitical influence and national security.

Kalyan Jewellers jumped 5.4% to ₹447 apiece in today's early morning trade, while those of Senco Gold gained 2.6% to ₹1,055 apiece after domestic brokerage firm Motilal Oswal initiated coverage on these stocks with a 'buy' rating. The brokerage set a target price of ₹525 for Kalyan Jewellers and ₹1,300 for Senco Gold.

Indus Towers for up to USD 2 billion. This is a significant increase from the approximately 10 per cent stake they initially intended to sell.The telecom company, which holds a 21.5 per cent stake in Indus Towers, is planning to use the proceeds from the sale to repay debt, according to a report by Reuters last week.In 2022, Vodafone announced its intention to sell its entire stake in the Indian firm.In the latest stake sale planned for June 19, the company aims to sell shares within the price range of 310 to 341 rupees.On Wednesday, over 615 million shares of Indus Towers were traded across numerous block deals, with a total of approximately 713 million shares exchanged, according to data from the National Stock Exchange of India.Indus Tower's share price was trading in red, down 4.48 per cent at ₹328.50, on June 19, at 11:00 am, on BSE.

IndusInd Bank, Kotak Mahindra Bank, ICICI Bank, Axis Bank and HDFC Bank led the gains among the Bank Nifty constituents as these stocks rallied up to 1-2%. All other banking stocks in the index were trading in the green.Also Read: Frog, Pig, Vulture, or Ape: Which type of investor are you in the market jungle?Bank Nifty has gradually picked up strength and as a decisive breach above 51,000 is confirmed, analysts believe this shall further strengthen the bias for next targets of 52,400 and 53,500 levels in the coming days with support maintained near 49,600 zone.