Trade Financial News

Page Industries Ltd. slipped 0.33 per cent to Rs 34464.0 in Wednesday's trade as of 01:08PM (IST). The stock hit a high price of Rs 34733.0 and low of Rs 34344.05 during the session. The return on equity (ROE) for the stock stood at 41.66 per cent. Traded volume on the counter stood at 01:08PM shares and turnover at Rs 0.57 crore around that time. The stock of Page Industries Ltd. quoted a 52-week high price of Rs 43599.0 and 52-week low prices of Rs 33100.0, respectively.

₹3.15 in March 2020 to approximately ₹23.19 at present. This translates to an impressive return of nearly 636 percent. If an investor had allocated ₹10,000 to this stock back in March 2020, that initial investment would have grown to ₹73,600 by now.

Maruti Suzuki India Ltd , JSW Energy Ltd , Cummins India Ltd, PB Fintech (policy Bazaar) are among 4 weekly technical picks by Axis Securities to buy this week. For Maruti Suzuki India that is trading at close to 12436 levels, the buy range recommended by Axis Securities is between ₹12200- ₹11960, for an upside of 7-9%. The stop loss for Maruti Suzuki specified by Axis Securities stands at ₹11650.

The containership crash that downed a Baltimore bridge Tuesday stands to snarl shipping along the East Coast for months. Officials say the bridge collapse could affect port operations for a long time, forcing other ports in the region to take on extra shipments. Companies that transport cars and coal, two of the important categories of cargo that run through Baltimore, already are looking for alternative destinations.

MphasiS Ltd. traded 2.16 per cent up at Rs 2429.75 on Wednesday at around 10:25AM (IST), while the benchmark BSE Sensex advanced 496.55 points to 72966.85. As many as 3,228 shares changed hands on the counter with a total value of Rs 0.78 crore.

Rajshree Sugars & Chemicals Ltd.(up 3.84%), Simbhaoli Sugars Ltd.(up 3.76%), Uttam Sugar Mills Ltd.(up 1.64%), Bannari Amman Sugars Ltd.(up 0.60%), KCP Sugar & Industries Corporation Ltd.(up 0.30%), Sakthi Sugars Ltd.(up 0.17%), Dwarikesh Sugar Industries Ltd.(up 0.14%), Shree Renuka Sugars Ltd.(up 0.13%) and Triveni Engineering & Industries Ltd.(up 0.11%) were among the top gainers.

Benchmark NSE Nifty index rose 148.6 points to 22153.3 amid buying in frontline bluechip stocks.

Indian Oil Corporation Ltd. traded 1.49 per cent up at Rs 170.0 on Wednesday at around 10:20AM (IST), while the benchmark BSE Sensex advanced 500.64 points to 72970.94. As many as 691,285 shares changed hands on the counter with a total value of Rs 11.77 crore.

There were no aides and no note-takers in the Oval Office—just President Biden and his German guest. Chancellor Olaf Scholz came on such short notice that the only plane he could book, a small Airbus 321, had to refuel in Iceland. Russia’s war in Ukraine and the fighting in Gaza dominated the 90-minute meeting.

Port of Baltimore and closed a major highway will cause weeks or months of transportation disruptions in the Mid-Atlantic region and accelerate a shift of cargo to the US West Coast as importers and exporters try to avoid potential bottlenecks at trade gateways from Boston to Miami. “Companies have already begun shifting volumes from the East Coast to the West Coast,” said Ryan Petersen, the founder and chief executive of Flexport Inc., a digital freight platform based in San Francisco. “Baltimore being taken offline means all the other ports on the East Coast are getting this bubble of cargo — creating congestion and delays.” That also means companies and consumers may face a repeat of one of the big supply chain lessons of the Covid pandemic: that a sudden 10% or 20% increase in volumes through a port “is enough to cause massive backlogs, congestion, ships waiting offshore and all sorts of delays that can compound on themselves,” Petersen said.

The Nifty monthly series PCR is currently at 1.05. Meaningful call writing is witnessed across 22,000-22,100 strikes, while put writing was witnessed in 22,000-21,900 strikes.

Steel Authority of India (SAIL) stock is under the F&O trade ban on Wednesday. The MWPL for SAIL stood at 86.2% on Tuesday with OI reported by Trendlyne at 58.3 million. It was down 10.5% from the previous session.

Indian shares surged in early trade on Wednesday, driven by the strong performance of index heavyweight Reliance Industries and financial stocks. The BSE Sensex was trading 326 points or 0.45% higher at 72,653. Nifty50 was trading at 22,070, up 65 points or 0.30% at around 9.30 am.

Russian ministries could be prepared to “legalize” industrial crypto mining in the country. But one key department could yet throw a spanner in the works.

A South Korean court has released the son of software giant Hancom Group’s Chairman on bail as prosecutors continue to probe an alleged “crypto slush fund.”

Oil prices fell for a second day on Wednesday after a report that crude stockpiles in the U.S., the world's biggest oil user, surged and on signs major producers are unlikely to change their output policy at a technical meeting next week. Brent crude futures for May dropped 69 cents, or 0.8%, to $85.56 a barrel at 0150 GMT. The May contract is set to to expire on Thursday and the more actively traded June contract declined 60 cents, or 0.7%, at $85.03.

Gold prices held firm on Wednesday, supported by lower U.S. Treasury yields, although bullion traded in a narrow range as investors stayed on the sidelines awaiting more cues on the Federal Reserve policy. FUNDAMENTALS * Spot gold was steady at $2,178.31 per ounce, as of 0125 GMT, following two session on gains. * U.S. gold futures edged 0.1% lower to $2,173.70 per ounce.

volatility in equities likely to be high, money managers believe investors should stagger their investments into equity mutual fund schemes. Fund houses offer various options for staggered investments such as a daily, weekly or monthly systematic transfer plan (STP) from a debt-oriented scheme like a liquid fund or ultra-shortterm fund to the chosen equity fund. WHEN SHOULD AN INVESTOR OPT FOR A SYSTEMATIC TRANSFER PLAN (STP)? Investors who believe that the long-term earnings growth story is intact, but fear high volatility in the markets due to events such as elections or valuations being slightly ahead of fundamentals can use STPs. Typically such investors have lump sum money and want to invest in equity mutual funds, but in a staggered manner, and simultaneously earn a small return by investing in liquid/ultra short-term schemes. HOW DOES IT WORK? An investor looking to invest say Rs 1 lakh into an equity fund using STP will have to first choose the liquid or ultra-short-term fund and make an investment there. Once that is done, choose an equity scheme and decide on the amount to be transferred along with the frequency of transfer and set up the STP. Both the source and the destination schemes should be from the same fund house. Most fund houses have a daily, weekly or monthly option to transfer money. For example, an investor can decide to transfer Rs 2,500 every week to an equity fund or even something like Rs 10,000 every month. Mutual fund investment portals too allow you to set these up entirely online.

stocks slipped on Tuesday, giving up modest gains late in the session to send the Dow and S&P 500 to their third straight decline, as investors awaited economic data in a holiday-shortened week to gauge the Federal Reserve's policy path. Stocks struggled for upward momentum even as Tesla gained 2.92% after CEO Elon Musk unveiled the electric-vehicle maker's one-month trial of its Full Self-Driving technology to existing and new customers in the United States. The stock is up about 4% for the week but remains down more than 28% for the year.

dollar steadied on Wednesday in the wake of more strong U.S. economic data, nudging the Japanese yen closer to a test of levels that drew official market intervention back in 2022. The yen traded at 151.52 per dollar early in the Asia session, within a whisker of 151.94 where Japanese authorities stepped in during October 2022 to buy the currency.