Trade Financial News

For its annual analysis of CEO pay, The Associated Press used data provided by Equilar, an executive data firm

World shares have started June mostly higher, though gains in some markets were whittled back later in the day

Spotify raised prices for its premium plans in the United States on Monday, the latest step by the Swedish music-streaming service in its push to increase margins. On a monthly basis, Spotify has raised prices of its individual plan to $11.99 from $10.99, duo plan to $16.99 from $14.99 and its family plan to $19.99 from $16.99 in the U.S.

Shares of Bank of Baroda(up 12.1 per cent), State Bank of India(up 9.07 per cent), Punjab National Bank(up 5.84 per cent), Axis Bank Ltd.(up 5.32 per cent) and IndusInd Bank Ltd.(up 4.65 per cent) ended the day as top gainers in the pack.

Domestic benchmark index NSE Nifty ended 733.21 points up at 23263.9, while the BSE Sensex closed 2507.47 points up at 76468.78.

market regulator Sebi comes up with various awareness themes to mitigate market-related frauds, they continue to grow, thanks to an unregulated arena of social media. The latest to fall victim to one such fraud is a businessman from Noida, who has been allegedly duped of over Rs 9 crore by cyber thugs, according to a Times of India report.

Advanced Micro Devices introduced its latest artificial intelligence chips and laid out plans to roll out new products every year in a bid to challenge Nvidia’s dominance in the AI boom. The Santa Clara, Calif.-based company showcased its latest MI325X accelerator at a trade show in Taipei on Monday. The chip, which will be available in the fourth quarter, will help meet growing computing demands at AI data centers, according to a statement.

Nifty ended Monday’s trading session 733 points higher with analysts saying that if the election results are better than expected on Tuesday the headline index can even cross the 24,000 mark. The bulls are in full control of the markets at the current juncture and are using every minor pullback to create long positions. Support for the Nifty is now seen at 23,200 and 22,950-23,000 levels. On the higher side, immediate resistance is at 23,350 levels and the next resistance is at the 23,500 mark, said Tejas Shah of JM Financial & BlinkX.

Nifty Bank rallied nearly 2,000 points or over 4% to climb Mount 51K in intraday trade on Monday, tracking exit poll results indicating political stability. The index rose 1,996 points to close at 50,979. It hit a record high of 51,133.20.

Indian rupee rallied on Monday to log its best intraday performance since December 2023 after exit polls projected a third term for Indian Prime Minister Narendra Modi's party and alliance, boosting investor confidence. The rupee closed at 83.1425 against the U.S. dollar, up nearly 0.4% on the day, its best intraday percentage gain in more than five months.

Let's take a look:SBI: The stock is in an overall uptrend and forming higher highs – and higher lows on a monthly scale. The stock has outperformed within the PSU space and is likely to scale new record highs.L&T: The stock has given a range breakout on the weekly chart and holding well above 50 DEMA.

Poll of Polls: 10 exit polls predict 350+ seats for BJP-led NDA, three 400+; INDIA bloc to get less than 200 seatsOsho Krishnan, a senior technical ad derivatives analyst at Angel One, pointed out that the exit poll outcome cheered market sentiments, skyrocketing key indices to their respective lifetime high levels. However, Implied volatility, a measure of market uncertainty, continues to hover at an elevated zone."Given the eventful week with the election outcome and RBI MPC result, it's best to take a cautious approach and maintain a practical view.

Bonus shares, stock split effect: As Rome was not built in a day, a stock market investor can't become rich overnight. It is often said that money is not in buying and selling stocks but in waiting. This rule applies to the primary market investors as well.

With real-world assets (RWA) attracting institutional attention and capital, LINGO is all set to leverage its power to transform the loyalty and reward industry completely.

real GDP growth print at 7.8% YoY came higher than implied in CSO’s advance estimate for the full year of FY24 at 7.3%. As a result, the average growth for FY24 stands much higher at 8.2%. While it reflects a modest deceleration from 3QFY24 at 8.6%, the average second-half growth of 8.2% is unchanged over the first half. Also, it gives an impression of a decisive turnaround from the 2HFY23 downturn and an FY23 average of 7%. However, the surprise part remains limited to the headline numbers. The headline growth appears misleading given the underlying situation.

Radhakishan Damani portfolio: Trend share price has delivered stellar returns to its positional shareholders in recent years. The muiltibagger stock has risen around 190 percent in one year wheras it has delivered over 1000 percent return in the last five years. This Tata group stock has attracted investments from various institutional and ace investors.

Varun Beverages Ltd. traded at Rs 1462.3 on BSE at 01:18PM (IST) on Monday, up 2.57 per cent from previous close. The stock quoted a 52-week low price of Rs 754.35 and a high of Rs 1560.3.

Hong Kong Legislative Council member Wu Shuo has voiced criticism against Hong Kong’s cryptocurrency licensing system, citing its impact on market confidence.

Mirae Asset Mutual Fund has filed a draft document with SEBI for regulatory approval to launch India's first Exchange Traded Fund (ETF) focused on the Electric Vehicles (EV) and New Age Automotive segment. Mirae Asset Nifty EV and New Age Automotive ETF will be an open-ended scheme replicating/tracking Nifty EV and New Age Automotive Total Return Index. This is the first ETF which is set to offer investors with long-term capital appreciation opportunities by investing in equity of companies that are at the forefront of the dynamic and rapidly evolving automotive sector thereby focusing towards sustainable development. The fund will track the newly launched Nifty EV & New Age Automotive Index, providing investors with a benchmark that truly reflects the innovative and forward-thinking nature of India's electric vehicle and new age automotive industry. The scheme will be managed by Ekta Gala and Vishal Singh.

market capitalisation of India's largest public lender State Bank of India (SBI) on Monday crossed Rs 8 lakh crore as the stock hit a fresh 52-week high of Rs 911 on the NSE, gaining nearly 10% in the intraday trade. The rally in SBI was on the back of exit poll predictions which have indicated a thumping majority for the Narendra Modi government.

Colgate-Palmolive (India) Ltd. traded at Rs 2706.4 on BSE at 01:23PM (IST) on Monday, up 1.96 per cent from previous close. The stock quoted a 52-week low price of Rs 1594.0 and a high of Rs 2961.15.