Trade Financial News

record highs on Wall Street. The benchmark Nikkei 225 index added 0.48 percent, or 193.04 points, to 40,361.11 in early trade, while the broader Topix index rose 0.58 percent, or 16.03 points, to 2,766.84.

Federal Reserve's commentary and the course of the dollar may dominate global market discussions, but a set of India-focused investors are moving their rupee trading calls to the Chinese yuan from the greenback, with Mint Road seen smoothening swings in exchange rates involving New Delhi's second-largest trade partner. «I have also noticed that since the beginning of the year, there has been a lot of interest in buying Indian rupees, not against the US dollar but against some of the other Asian currencies, especially the RMB (Chinese currency),» said Patrick Law, Head of Asia Pacific Fixed Income, Currencies, and Commodities Trading, Bank of America.

Francis Scott Key Bridge in Maryland collapsed, Governor Wes Moore emphasised that the rebuilding of the bridge would not take days or weeks, adding that «we have a very long road ahead of us.» The Singapore-flagged vessel collided with one of the pillars of the Francis Scott Key Bridge in Maryland, leading to its collapse on Tuesday.

Traders carried forward fewer bullish bets in Nifty futures to the April series on Thursday — the expiry day of the March contracts — amid uncertainty as to whether the index would extend its two-day winning run. The Nifty and Sensex notched up nearly 1% gains at closing on Thursday, but they came off the highs with market participants cutting wagers ahead of the prolonged weekend. Financial markets will be shut on Friday for Good Friday Nifty ended 0.9%, or 203 points, higher to close at 22,326 after jumping as much as 1.8%. The Sensex, which closed 0.90%, or 655 points, higher to close at 73,651, rose up to 1.6% earlier in the day. Both indices came close to hitting record highs. For the fiscal 2023-24, the Nifty was up 28.61% at the close of trade on Thursday. India's total market value surged by ₹133 lakh crore in FY24.

Ishaq Dar raised more than a few eyebrows last week when he said — almost as an aside — that his country’s new government would “seriously look into matters of trade with India”. A resumption of trade would be something of a climbdown for Pakistan, which cut off economic ties when Indian Prime Minister Narendra Modi unilaterally withdrew Kashmir’s special constitutional status in 2019. Until now, Pakistani leaders have insisted they wouldn’t restore relations until the decision was reversed. Dar’s statement should not come as a complete surprise. His party, the Pakistan Muslim League-N, has a very particular class basis: It’s an alliance between the semi-urban petty bourgeoisie and large industrialists such as its leader, former Prime Minister Nawaz Sharif. These constituencies have always seen the benefits — for themselves and for Pakistan — of normalizing trade ties with a large and growing India. Those gains are potentially substantial, especially for a country as desperate for hard currency as Pakistan is today. The World Bank estimated in 2018 that Pakistan’s exports could increase by as much as 80% — about $25 billion at that point — if trade with India reached its potential.

fintech sector, have received income tax notices in recent weeks with respect to venture capital raised by them, according to people in the know. The notices — served under Section 68 of the Income Tax Act — have clubbed the investments received by these startups with the income earned by them, and tax and penalties have been levied on the combined amount, the sources said. So much so that one startup, registered with the Department for Promotion of Industry and Internal Trade (DPIIT) — has been asked to pay Rs 37 crore in tax and penalty on funding of Rs 40 crore by venture capital investors, they added.

Investment manager Kerrisdale Capital said on March 28 that shares of MicroStrategy (MSTR) – the world’s largest corporate Bitcoin holder – are currently trading at an “unjustifiable” premium to MicroStrategy’s actual Bitcoin holdings.

With the future of the Labor Department’s proposed retirement security rule currently underreview, advisors remain focused on their clients’ rollovers from 401(k) plans.

Sam Bankman-Fried co-founded the FTX crypto exchange in 2019 and quickly built it into the world’s second most popular place to trade digital currency

Stocks that traded heavily or had substantial price changes on Thursday: MillerKnoll, Chemours fall; Verint Systems, RH rise

China says it will lift tariffs placed on Australian wine over three years ago, in a sign of improving ties between the two countries

Sam Bankman-Fried, the former CEO of the cryptocurrency exchange FTX was sentenced to 25 years in prison after being convicted of fraud for stealing at least $10 billion from customers and investors

Also Read: Oil market oversupplied with record-high US output, Brent seen at $87-$92 for 2024: ShareKhan's Mohammed Imran Both benchmarks were up more than two per cent on the week and were on track to finish higher for a third consecutive month, according to news agency Reuters. Coming to domestic prices, crude oil futures traded 1.76 per cent higher at ₹6,895 per barrel on the multi commodity exchange (MCX). -In the previous session, oil prices had come under pressure from last week's unexpected rise in US crude oil and gasoline inventories, driven by an increase in crude imports and sluggish gasoline demand, according to Energy Information Administration (EIA) data.

Suzlon Energy and Inox Wind, assigning them 'Buy' ratings. This move comes in light of the renewed attention on the wind-energy sector driven by the government's ambitious growth agendas. “We initiate coverage of these two companies, with Buy ratings, at TPs of respectively Rs49 (35x FY26e PE) and Rs590 (30x FY26e PE)," the brokerage firm said.

₹2.06 trillion into the Indian markets, closely followed by domestic institutional investors (DIIs) with ₹2.04 trillion. Said Gaurang Shah, senior vice-president, Geojit Financial Services, “A short squeeze, NAV game (mutual funds rebalancing portfolios), truncated fiscal year-end week and the break of technical resistance at 22,200 drove Thursday's market rally". He expects the Nifty to trade volatile in a range of 21750-22526.60, until the results of the general election are announced.

Reddit and Trump Media are the first notable social media companies to begin trading publicly in the last five years

BEFE, the frog-themed meme coin is on a hype train that doesn’t seem to stop anytime soon. BEFE coin rockets 45% higher in a week-long bull run hitting $0.0006248. In the past year, the coin has already shown a staggering 760% gain. Now, the fuel which is being added to the buying frenzy fire is BEFE’s imminent pre-sale announcement.

Bitgert coin has been making the headlines since its launch, and the recent pump has given more push. The crypto market trends also favour its future growth potential. As the cryptocurrency market continued to show a positive impact, major crypto is in an uptrend. Bitcoin has reached its all-time high of $73,000 in the past few weeks. This has brought back investors’ attention as well as media attention to the crypto market, giving room to other altcoins.

The cryptocurrency market is filled with opportunities for astronomical returns. Bitcoin traded for just a few dollars in its early days and long-term holders have been able to make some great profits of multiple times their initial investment. Experts are on the lookout for the next major coin in its early days and Bitgert seems to be one that can be the next big thing in cryptocurrencies. 

Aurobindo Pharma on Thursday said the deadline for negotiations between its arm CuraTeQ Biologics and Merck Sharp & Dohme Singapore for contract manufacturing operations for biologicals has been extended till May next year. Last year in October, CuraTeQ Biologics Pvt Ltd and Merck Sharp & Dohme Singapore Trading Pte Ltd and its affiliates (MSD) had signed a letter of intent (LoI) for contract manufacturing operations (CMO) for biologicals, whereby the parties intended to conclude the negotiations by March 31, 2024. «In this regard, we further inform you that said negotiations are yet to be concluded and the parties to the LoI have agreed to extend the timelines with the intention to conclude the said negotiations by May 31, 2024,» Aurobindo Pharma said in a regulatory filing. As per the LOI, CuraTeQ proposed to serve the US-based biopharmaceutical company through its contract manufacturing subsidiary, TheraNym Biologics Pvt Ltd.

gold and silver during 2024-25. As per the list, 11 banks, including HDFC Bank and ICICI Bank, have been authorised by the Reserve Bank of India to import gold and silver for 2024-25 with effect from April 1. The authorisation will be valid up to March 31 next year. «List of banks authorised to import gold/silver...has been updated,» the Directorate General of Foreign Trade (DGFT) said in a public notice.