Trade Financial News

Page Industries Ltd. gained 0.53 per cent to Rs 34500.0 in Friday's trade as of 11:06AM (IST). The stock hit a high price of Rs 34705.6 and low of Rs 34175.2 during the session.

₹118.50, which is 50% higher than the issue price of ₹79. The Slone Infosystems IPO subscription period began on Friday, May 3, and closed on Tuesday, May 7. The Slone Infosystems IPO price band was established at ₹79, with each equity share having a face value of ₹10.

The price change in 24 carat gold in the last one week has been -0.76% .whereas in the last month it has been 0.12%. The cost of silver is Rs.82590.0 per kg up by Rs.82590.0 per kg. Gold Price Today in Delhi is ₹73218.0/10 grams.

₹22,000 crore in May 2024. FIIs offloaded Indian equities worth ₹22,858 crore within the first six market sessions so far in May 2024.

Stock Market News: Domestic equity benchmark indices, the Sensex and the Nifty 50, began Friday's session in green amid positive global cues. Due to investor risk aversion during the ongoing election sessions, the domestic market saw heavy selling pressure on Thursday. However, because there aren't any significant positive triggers, analysts predict that this volatility will continue in the near future.

The Nifty future closed negative with losses of 1.43% at 22072 levels on Thursday. India VIX was up by 6.56% from 17.08 to 18.20 levels.

global peers, Indian benchmark equity indices opened higher on Friday, led by auto and energy stocks. The BSE Sensex was trading 270 points higher at 72,674, while the Nifty50 was trading at 22,051, up 94 points, around 9:33 a.m.

stocks are under F&O trade ban on Friday viz. Aditya Birla Fashion and Retail (ABFRL), Balrampur Chini, Biocon, Canara Bank, GMR Airports and Infrastructure, Piramal Enterprises (PEL), Punjab National Bank (PNB), Steel Authority of India (SAIL), Vodafone Idea and Zee Entertainment Enterprises. The latest entrants are Canara Bank and PEL.

Jiten Parmar, Partner, Aurum Capital, says “some of these stocks are trading at multiples of like 50 times at probably peak margins with EBITDA margins of more than 25% which we believe is unsustainable. Also, we have to understand that there is a lot of capacity coming up, so that always kind of basically makes us cautious. Many of the names are doing expansions and whenever there is expansion by a host of names or most of the players in the industry, we have seen through our cyclical investing and experience that a glut happens and then the sector goes and stocks go for a toss for quite a few years. We do not want to get caught into that situation.” Before we talk about markets, I want to understand the psychology of the market right now. In smallcap, midcaps and largecaps – there seems to be an underlying nervousness on the Street, whatever could be the reason. Lower voter turnout, a firm stand by RBI on lenders –there could be a variety of reasons. How should one approach the market right now? Jiten Parmar: Short-term, the reasons could be anything. In this frothy market, the primary reason according to me is overvaluation and then we assign reasons to corrections. But yes, there could be some political nervousness because of the lower voter turnout as you mentioned, that could be one of the reasons why the market wants to be a bit on the sidelines and maybe some people are taking some money off the table.

Bitcoin’s subtle rally to $61,425 signals a potentially stabilizing market. As Bitcoin ETFs like Grayscale and Bitwise see renewed inflows, totaling $11.54 million recently, optimism grows.

(This story originally appeared in on May 10, 2024)

dollar had a soft tone in early Asian trading on Friday after losing ground overnight to the euro and sterling on the back of U.S. data showing further signs of a cooling labour market and hence higher odds of Fed rate cuts this year. Against the Japanese yen, the dollar was trading at 155.39 yen, down from highs of 155.95 hit in the previous session. The euro stood at $1.0782, after a 0.3% gain overnight.

Equity markets took a heavy beating with the BSE Sensex tumbling 1,062 points on Thursday. Analysts said investors are trimming their equity exposure at a faster pace as the election season heats up, which can be seen from the drubbing that mid and small-caps received. Stocks that were in focus include names like IRB Infra, which fell 3%, IGL, which was down 2.48%, and Dr Reddy's, whose shares declined 2.8%.

As we report, the disintegration of the old order is visible everywhere. Sanctions are used four times as much as they were during the 1990s; America has recently imposed “secondary" penalties on entities that support Russia’s armies. A subsidy war is under way, as countries seek to copy China’s and America’s vast state backing for green manufacturing.

Motilal Oswal Financial Services Ltd. Here are key global market cues for Sensex today: Asian markets traded higher on Friday tracking overnight gains on Wall Street amid renewed rate cut hopes. Japan’s Nikkei 225 rallied 1.52%, while the Topix gained 1.22%.

Stock market today: Following weak global sentiments, the Indian stock market ended lower for the fifth straight session on Thursday. The Nifty 50 index crashed 345 points and closed below the 22,000 mark at 21,957. The BSE Sensex tanked 1062 points and finished at 72,404, while the Bank Nifty index, which tracks the performance of the banking sector, nosedived 533 points and ended at a 47,487 level.

NEW DELHI : The multi-billion-dollar direct selling industry has now come in the crosshairs of the central government, with the department of consumer affairs (DoCA) planning to scrutinize their regulatory compliances and prepare a list of rule violators, three people aware of the matter said. Several measures are also being put in place to increase vigilance against violation of direct selling rules and other unscrupulous practices by the fast-growing industry, the people added.

Sensex tanked 1,062.22 points, or 1.45%, to end at 72,404.17, while the Nifty 50 settled 345.00 points, or 1.55%, lower at 21,957.50. Nifty 50 formed a long negative candle on the daily chart, which is reflecting a sharp downside momentum in the market.

European Union as «consequential for the world as well,» External Affairs Minister S Jaishankar said the EU is not only «our largest economic partner,» but the ties run «very deep, spanning many domains.» Extending felications to EU's Ambassador to India, Herve Delphin, Jaishankar said, «I think today the relationship between India and the European Union is not only consequential for each one of us but also for the world as well. The EU is our largest economic partner, but it is more than that.» «It is an entity with which we have, really, a very deep relationship spanning many domains...not just in the relationship between New Delhi and Brussels but in the regional and sub-regional formats in which we engage each other and in a range of institutions that we both are members of and where we collaborate with each other. And of course, an important element of that is economic relationship,» Jaishankar said in his address at the Europe Day Celebrations here in New Delhi.

JPMorgan Chase & Co. is on track to include India in its emerging market debt index from June with most of its clients ready to trade, according to the firm’s global head of index research. “Based on the annual Index Governance Consultation process, market feedback so far has been largely positive, with the majority of our index clients already set up to trade in the IGB market,” managing director Gloria Kim said in an emailed reply to questions.

BJP may not get as many seats in the general election as projected earlier, prompting investors to cut some of their bets. Regulatory actions against the banking sector that could slow lending are also weighing down sentiment. The Volatility Index or VIX shot up to a 19-month high, suggesting traders see greater risk in the market in the near term. The NSE Nifty fell 345 points, or 1.55%, to close at 21,957.50. The BSE Sensex declined 1,062.22 points, or 1.45%, to end at 72,404.17.