Trade Financial News

In a trading update today (17 April), the asset manager said its FUM rose by 2% to £17.9bn in the quarter, as it benefited from market gains worth £642m. Gross inflows during the period were £533m, but gross outflows reached £828m, leading to an overall £294m net outflow.  The Bespoke Portfolio Service business took the biggest hit with £205m net outflows, which the firm attributed to clients withdrawing funds to repay debt or hold higher cash balances in the current interest rate environment.  Brooks Macdonald and IG Group scale back staff to cut costs Brooks Macdonald's UK inv...

The Indian stock market has seen a significant surge in individual investors’ participation over the recent years, driven by factors such as increasing financial literacy, technological advancements, and easier access to trading platforms. Among the essential components facilitating this trend is the demat account or dematerialised account. 

In recent years, there has been a steady increase in inflows into equity mutual funds, reflecting the growing participation of investors in the flourishing Indian stock market. As a result, mutual fund assets surged by ₹14 lakh crore, or 35% year-on-year, to a record ₹53.40 lakh crore in FY24.

Adani Group has increased its stake in Ambuja Cements by 3.6%, bringing it to 70.3%, through the conversion of warrants into equity. The company announced on Wednesday that the Adani family, promoters, has fully subscribed to the warrants program by injecting remaining Rs 8,339 crore out of the total Rs 20,000 crore. In October 2022, Ambuja Cements issued warrants totaling Rs 20,000 crore to the Adanis on a preferential basis at Rs 418.8 per share. Initially, the company received Rs 5,000 crore (25% of the warrant issue) as the mandatory upfront payment. On March 28, 2024, the group paid Rs 6,661 crore towards part of the shares' issuance. Currently, the Ambuja Cements stock is trading at Rs 555, a 47% premium over the issue price of Rs 418.8. The stock rallied 88% in the past three months compared to a 17% jump in the benchmark Sensex.

The South Korean won has emerged as the leading fiat currency for cryptocurrency trading, overtaking the US dollar in the first quarter of 2024. 

Crypto.com CEO Kris Marszalek has raised concerns about the sustainability of the surging valuations in the cryptocurrency sector. 

According to a CoinDesk report, OKX, the world’s second-largest cryptocurrency exchange by trading volume, has lost two of its top executives, Tim Byun and Wei Lan.

According to the firm's trading update for the financial year and three months to 31 March 2024, UK retail funds and MPS saw the heaviest exit, responsible for 72% of outflows over Q1 and 66% over the full financial year. While positive market and investment performance helped steady the negative impact of flows, the business stands £3.6bn (11.4%) poorer than in April 2023, down to £27.8bn total assets under management and advice. Liontrust share price unresponsive to Artemis merger approach speculation However, over the opening quarter of the calendar year, this positive performan...

Abhradeep Saha, best known by his alias ‘Angry Rant Man’, passed away on Tuesday. He was 27. The social media influencer was admitted to the Narayana Cardiac Hospital in Bangalore, due to some serious health complications. Saha underwent an open heart surgery, following which he suffered multiple organ failure and had to be kept on a life support system. Although he responded to treatments earlier, his condition gradually took a turn for the worse. On Sunday, Saha’s father Soumyadeep shared a health update with his fans. “He is really in a critical situation with a life-saving support system, pray for a fast recovery..”

The S&P BSE Sensex fell over 450 points, while the Nifty50 managed to hold on to 22,100 levels.

With major cryptocurrencies flat over the past 24 hours following a choppy day of trade, traders hunting for top crypto gainers today that might deliver them quick gains continue to flock to the highly volatile and illiquid on-chain micro-cap markets.

NEAR particularly strives to regain momentum, while DOGE and TON exhibit promising potential in their price charts. Despite slow trading, XRP aims for long-term gains, while KangaMoon with its presale success, is in the news headlines, offering its token as one of the top cryptos to buy for high rewards. With their unique strengths and growing popularity, these tokens present several enticing investment options, making them the top choices for savvy investors looking to diversify their portfolios in April 2024.

Stock Market News: The domestic benchmark equity indices, the Sensex and the Nifty 50, continued their losing streak for the third day in a row on Tuesday as heavy selling pressure was witnessed in the early trade. However, Nifty 50 recovered swiftly from intraday lows, lessening the ugly tone of the decline. On Tuesday, the S&P BSE Sensex ended down 456.10 points, or 0.62%, at 72,943.68, while the NSE Nifty 50 closed down 124.60 points, or 0.56%, lower at 22,147.90.

Gold prices held steady on Wednesday as safe-haven demand for bullion amid the Middle East conflict partially offset pressure from higher U.S. Treasury yields. FUNDAMENTALS

Ram Navami and all the segments will stay shut. However, the multi commodity exchange (MCX) will function as usual in the second session. Since it’s also a settlement holiday, the commodity account balance on April 17 will not include the credits from profits from trades or positions in the commodity derivatives on April 16 and credits from exiting option positions on April 16.

As the cryptocurrency community anticipates the next Bitcoin halving event, expected around April 19 or 20, speculations about its impact on Bitcoin’s price are intensifying.

Publicly traded Bitcoin mining firm Hut 8 Corp announced on April 16 the initialization of self-mining operations at its new Salt Creek facility, only 78 days after breaking ground in the area.

The Jeo Boden (BODEN) price is attempting to recover amid growing chatter that Solana meme coin whales have been accumulating the token in wake of its recent dip.

Read here: Stock market holiday: Is Indian stock market shut for Ram Navami on April 17? The Commodity Derivative Segment on the Multi Commodity Exchange of India Limited (MCX) is closed only for the morning session today, while the evening session will remain open. On MCX, commodity market trading will commence in the evening session from 5 pm to 11:30/11:55 pm today.

As Citi extracts 20,000 jobs, people there are leaving. Some of those people are in revenue-generating sales and trading roles, even though the bank says it's mostly about extracting deadweight from its bureaucracy. 

Following on from Citi and JPMorgan, Goldman Sachs today announced its first quarter results. They're pretty good. As the chart below shows, Goldman outperformed its rivals in M&A and equities and fixed incomesales and trading, even if it lagged a little in equity and debt capital markets.