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Maldives matters: India’s moving to foil Chinese designsMinister of Economic Development and Trade Mohamed Saeed said, "Addressing the dollar issue and reinforcing the MVR is a top priority for the current administration".In August 2022, the then President of Maldives Ibrahim Mohamed Solih said, “The two leaders welcomed the ongoing work to operationalize the usage of Rupay Cards in Maldives and agreed to consider further measures to boost bilateral travel and tourism and economic inter-linkages".Maldives says its pilots cannot fly aircraft donated by IndiaOn Wednesday, Maldives said that both India and China have agreed to cooperate in efforts to pay for imports in their respective countries’ currency instead of the US dollar. Saeed said he met with the Indian High Commissioner Munu Mahawar two weeks ago, who in turn, said that New Delhi would support and cooperate in arranging for the settlement of import payments in Indian Rupee.'True gesture of goodwill': Maldives thanks India for extending budget supportSaeed said the move is likely to help Male save almost 50% of the annual $1.5 million import bill from the two countries.In July 2023, the Government of India declared that Maldives was among the 22 countries that were permitted by the Reserve Bank of India to open Special Rupee Vostro Accounts (SRVAs) as part of efforts to promote bilateral trade in local currencies.Over the last few years, multiple banks and payment companies from across various countries have partnered with NPCI International Payments Ltd (NIPL), the international arm of NPCI, to accept UPI and RuPay in one form or the other.

₹4671 crores. The massive short-covering caused by this sudden change in FII trade contributed to the sharp rally," said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.Vijayakumar pointed out that the change in FII stance has been caused by the underperformance of the Hang Seng index, which has been down 4.1 per cent during the last five days."The outperformance of the Hang Seng had led to the 'sell India, buy China' trade during the last month.

Then-President Donald Trump fired the first shots with tariffs on China seven years ago, and then Joe Biden ushered America into the new industrial policy age. Stage three, punctuated by Biden’s latest round of duties on Chinese imports, builds on the first two: using tariffs to defend US interests, with subsidies now at the core of policy and without fear of retaliation. The $31 trillion arena of international commerce has withstood a series of shocks in recent years, including the US-China trade war. This time, the linchpin is the European Union — caught between preserving its self-styled role as defender of multilateral rules and fearing the loss of millions of jobs and tens of billions in investment while the US and China wield market-distorting subsidies and tariffs.

benchmark equity indices Nifty and Sensex hit fresh record highs on Friday, led by banking and financial stocks, despite robust economic data in the U.S. dampening hopes of early interest rate cuts. The BSE Sensex was trading 77 points higher at 75,495. Nifty50 was trading at 22,970, up 2 points at around 9.46 am.

Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today - May 24The domestic benchmark indices, the Nifty 50 and the Sensex, set fresh closing highs on Thursday due to gains in banking stocks. The nation's budget deficit may be on the decline, as shown by the record dividend paid by the central bank to the government.The domestic equity indices reached a new peak on Thursday as the Nifty 50 closed over 22,900.Also Read: Stock market today: Trade setup for Nifty 50 to India VIX, five stocks to buy or sell on Friday — May 24The Nifty 50 closed 369.85 points, or 1.64%, higher at 75,418.04, while the Sensex surged 1,196.98 points, or 1.61%, to conclude at 22,967.65.Seasoned Executive Director at Choice Broking with a strong track record, Sumeet Bagadia has shared his professional advice on five breakout stocks that are now worth buying: Cochin Shipyard Ltd, Saregama India Ltd, Rail Vikas Nigam Ltd, Olectra Greentech Ltd, and Mazagon Dock Shipbuilders Ltd.1] Cochin Shipyard Ltd: Buy at ₹1,890.25, target ₹2,000, stop loss ₹1,825 ;2] Saregama India Ltd: Buy at ₹4,66.35, target ₹495 , stop loss ₹450;3] Rail Vikas Nigam Ltd (RVNL): Buy at ₹372.25, target ₹399, stop loss ₹360;4] Olectra Greentech Ltd: Buy at ₹1,808.70, target ₹2,010, stop loss ₹1,710; and5] Mazagon Dock Shipbuilders Ltd: Buy at ₹3,125.75, target ₹3,333, stop loss ₹3,020.Also Read: Dividend stocks: Vedanta, Tata Consumer Products, QGO Finance shares to trade ex-dividend on May 24The market is seeing a 1,000 point rebound from 21,800 levels as FIIs are positioning themselves in the long:short ratio, which is up from 26% longs, according to Soni Patnaik, Assistant Vice President, Equity Derivatives Research, JM Financial Services.

Q4 results today: Investors and market analysts are eagerly anticipating the financial results of several major corporations such as Bosch, Hindalco, Ashok Leyland, and Zee Entertainment Enterprises Ltd (ZEEL) are set to reveal their Q4 earnings today, alongside 252 other companies. These announcements are expected to provide critical insights into the financial health and performance of these industry giants, influencing market trends and investor decisions.63 Moons Technologies, Abirami Financial Services (India), ABM Knowledgeware, Aditya Consumer Marketing, Adcon Capital Services, Adishakti Loha and Ispat, Advance Multitech, Advance Petrochemicals, Aegis Logistics, Affle (India), Agarwal Fortune India, A.K.

UK general election gathers momentum after British Prime Minister Rishi Sunak surprised many this week with a snap summer poll on July 4, exactly a month after India's election results on June 4, the prospect of an India-UK free trade agreement (FTA) has been kicked into the long grass. While political analysts and strategic experts have expressed confidence that very little should change on the bilateral relationship front whatever the outcome in either election, the very small window that was open for a deal being clinched by the Sunak-led Tory government has now been swept away in the election wave of both countries. The Opposition Labour Party, in the lead in most pre-election surveys, has committed itself to «finish the job» but the timelines will remain uncertain for some time.

Nvidia's plan to split its stock after the stunning rise in the chipmaker's share price could lure more interest from retail investors while potentially paving the way for the company's inclusion in the Dow Jones Industrial Average. Nvidia shares were soaring 10% on Thursday afternoon after the company announced a 10-for-one stock split as part of a blockbuster quarterly report included its revenue and forecast coming in above analyst estimates.

Asian stocks fell on Friday, while the dollar advanced as strong U.S. economic data bolstered the prospect of interest rates staying higher for longer and the Federal Reserve taking its time in cutting rates, keeping investors away from risky assets. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.5% and was on course for a 1% weekly decline, snapping its four-week winning streak. Japan's Nikkei fell 1.45%.

Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today - May 24Meanwhile, volatility is increasing ahead of the election phases which could cause a bumpy ride in the market for the time being. Taparia believes India VIX needs to fall below 16-18 zones for stability and a smoother ride in the market.Option data suggests a broader trading range in between 22,500 to 23,500 zones while an immediate range between 22,700 to 23,200 levels.The Bank Nifty index witnessed strong buying interest on Thursday as it surged over 1,000 points from lower levels.

Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today - May 24The headline index saw a record rise, according to Vinod Nair, Head of Research at Geojit Financial Services, with prominent industries like banking and autos outperforming. Bond rates should decrease as a result of the RBI's historic payout, which is comparable to an indirect rate drop.

Nvidia fueled a surge in its shares, but that was overshadowed by economic data showing inflation was still a concern that could delay any Federal Reserve rate cuts. Nvidia shares jumped 9.32% to close above the $1,000 per share mark for the first time and helped boost the Nasdaq and S&P 500 to intraday records in the early stages of trading after the AI chip company forecast quarterly revenue above estimates and announced a stock split.

South Korea on Friday imposed sanctions on seven North Korean individuals and two Russian vessels over weapons trade and other activities between Pyongyang and Moscow deemed in breach of U.N. Security Council resolutions, Seoul's foreign ministry said. The Russian vessels had been carrying a large quantity of containers between Russia and North Korea transporting military supplies in a clear violation of the United Nations Security Council resolutions, the ministry said in a statement. The United States and South Korea have accused North Korea of transferring weapons to Russia for use in its war in Ukraine. Both Moscow and Pyongyang have denied the accusations, but vowed last year to deepen military relations.

settlement window next week is expected to upend trading for Asian money managers, pushing some to secure funds in the early hours of their mornings when currency markets are at their thinnest and most jumpy. From May 28, investors from Singapore, Tokyo or Seoul who buy U.S. shares during the Wall Street day will have just 24 hours to validate their trades and convert their funds into dollars to complete the deals, down from two days previously.

Sensex jumped 1,196.98 points, or 1.61%, to close at 22,967.65, while the Nifty 50 settled 369.85 points, or 1.64%, higher at 75,418.04.“We expect this positive momentum to continue on the back of an improving political environment, continued short covering by FIIs, and strong domestic macros. Sectors like Defence, Banking, and Railways are expected to remain in focus," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.Here are key global market cues for Sensex today:Asian markets traded lower on Friday tracking overnight losses on Wall Street.

Sensex jumped 1,196.98 points, or 1.61%, to close at 22,967.65, while the Nifty 50 settled 369.85 points, or 1.64%, higher at 75,418.04.Nifty 50 formed a long bullish candlestick pattern on the daily charts, signaling strong buying interest.Also Read: Indian stock market: 8 key things that changed for market overnight - Gift Nifty to Nvidia share price rally“The 20-period moving average (MA) remains above the 50-period MA indicating that the positive MA crossover is intact. This augurs well for the near-term uptrend to continue.

short covering, improving investor’s sentiments towards the election outcome and healthy macros highlighted by the record dividend payout by RBI. «We expect this Positive momentum to continue on the back of an improving political environment, continued short covering by FIIs, and strong domestic macros. Sectors like Defence, Banking, and Railways are expected to remain in focus,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal.

Sensex and Nifty closed at lifetime high levels on Thursday following a record dividend payout by the RBI to the government. In today's trade, Honasa Consumer, ITC, IndiGo, Vodafone Idea, ZEE among others will be in focus due to various developments and quarterly earnings. NTPC, Hindalco, United Spirits, Ashok Leyland Shares of NTPC, Hindalco, United Spirits and Ashok Leyland will be in focus as the companies will announce their fourth quarter results today.

Dividend stocks: Shares of Vedanta Limited, Tata Consumer Products Ltd, QGO Finance Ltd, Bharat Dynamics, and Som Distilleries & Breweries Ltd will be in focus when the stock market opens on May 24 (Friday).The boards of Directors of these companies have declared interim dividends, final dividends, and stock splits for their eligible shareholders. These companies have fixed May 24 as the record date to ascertain the eligibility of shareholders for their respective issues.ALSO READ: Multibagger: HBL Power Systems stock soared 1254% in 3 years, jumped over 5360% in a decadeVedanta: The company has declared an interim dividend of ₹11.00 per equity share.In a stock exchange filing, Vedanta said the Board of Directors declared “First Interim Dividend of ₹ 11/- per equity share on the face value of ₹ 1/- per equity share for the Financial Year 2024-25 amounting to c.

India's electronics, pharma, engineering goods exports beat global trade slowdown during FY24 Meanwhile, RTE imports have grown marginally, from $304.96 million in FY2019 to $360.37 million in FY24. The FY24 figure marks a fall in imports of 13.6% from the previous fiscal year. “Reduction in imports indicates changing domestic consumption patterns, and increased local production," Srivastava said.

F&O ban list: Eleven stocks have been banned for trade on Friday, May 24, 2024, under the futures and options (F&O) segment by the National Stock Exchange (NSE). The securities have been put on ban under the F&O segment as they crossed 95% of the market-wide position limit (MWPL), according to the NSE.However, these stocks will be available for trading in the cash market.ALSO READ: Multibagger: HBL Power Systems stock soared 1254% in 3 years, jumped over 5360% in a decadeF&O ban list todayAditya Birla Capital, Balrampur Chini Mills, Bandhan Bank, Hindustan Copper, IEX, India Cements, Metropolis Healthcare, National Aluminium, Piramal Enterprises, PNB, and ZEEL are the 11 stocks in the NSE's F&O ban list for May 24.The NSE updates the list of securities in the F&O ban for trade every day.The National Stock Exchange (NSE) said the derivative contracts in the mentioned securities have crossed 95% of the market-wide position limit and have been currently placed in the ban period by the stock exchange.ALSO READ: IT Sector Q4 Review: Axis recommends buying Persistent, KPIT after March quarter results“It is hereby informed that all clients/members shall trade in the derivative contracts of said security only to decrease their positions through offsetting positions.