Trade Financial News

Binance’s US arm imploded following SEC allegations regarding violations of securities law, according to the subsidiary’s COO Christopher Blodgett.

Benchmark NSE Nifty index fell 57.96 points to 22298.35 amid selling in frontline bluechip stocks.

PI Industries Ltd. traded 0.59 per cent lower in Wednesday's session at 11:01AM (IST). The stock opened at Rs 3607.4 and has touched an intraday high and low of Rs 3632.35 and Rs 3582.0, respectively, during the session so far. The stock quoted a 52-week high of Rs 4010.0 and a 52-week low of 2870.0. About 46,551 shares changed hands on the counter so far.

Tube Investments of India Ltd. traded 1.15 per cent down at Rs 3523.95 at 11:06AM (IST) on Wednesday, even as BSE benchmark Sensex dropped 115.87 points to 73561.26. The stock had closed at Rs 3565.05 in the previous session. The stock quoted a 52-week high and 52-week low of Rs 4120.8 and Rs 2432.0, respectively.

Nakoda Group Of Industries Ltd.(up 11.97%), Bikaji Foods International Ltd.(up 1.50%), Varun Beverages Ltd.(up 1.43%), ADF Foods Ltd.(up 0.88%), Hatsun Agro Products Ltd.(up 0.81%), Tasty Bite Eatables Ltd.(up 0.31%) and Tata Consumer Products Ltd.(up 0.15%) were among the top gainers.

Investing.com-- Most Asian currencies moved little on Wednesday, while the dollar steadied from recent losses as markets hunkered down in anticipation of more key cues on U.S. monetary policy. 

Torrent Power Ltd.(up 1.77%), KKV Agro Powers Ltd.(up 0.16%) and Kalpataru Projects International Ltd.(up 0.06%) were among the top gainers.

Page Industries Ltd. slipped 0.01 per cent to Rs 35671.0 in Wednesday's trade as of 10:20AM (IST). The stock hit a high price of Rs 35757.65 and low of Rs 35476.3 during the session. The return on equity (ROE) for the stock stood at 41.66 per cent. Traded volume on the counter stood at 10:20AM shares and turnover at Rs 0.24 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 34000.0, respectively.

Avenue Supermarts Ltd. traded 0.68 per cent higher in Wednesday's session at 10:15AM (IST). The stock opened at Rs 3817.05 and has touched an intraday high and low of Rs 3866.0 and Rs 3817.05, respectively, during the session so far. The stock quoted a 52-week high of Rs 4203.0 and a 52-week low of 3292.65. About 6,492 shares changed hands on the counter so far.

The NSE Nifty index traded 53.46 points down at 22302.85, while BSE Sensex was down 67.68 points at 73609.45 as of 10:24AM(IST)on March 06.

Eurobank is looking to establish a presence in India and is in the process of consulting with advisors and the Reserve Bank of India to open a representative office in Mumbai, said people close to the bank. With 80.5 billion euros of assets and 540 branches across Greece, Cyprus, Bulgaria, Luxembourg and UK, the bank, which has a robust corporate client-focused business in these countries, aims to serve the needs of Indian businessmen looking for a commercial presence in Europe. “Trade relations between Europe and India are on the cusp of taking off. We aim for Eurobank to become a key facilitator and the banking partner of choice for Indian businesses considering establishing a local hub in Greece or Cyprus to gain a footing in the EU market,” said Fokion Karavias, chief executive officer, Eurobank.

Natco Pharma Ltd.(up 1.15 per cent), Torrent Pharmaceuticals Ltd.(up 0.59 per cent) and Alkem Laboratories Ltd.(up 0.44 per cent) were among the top gainers.

Pidilite Industries Ltd. gained 1.69 per cent to Rs 2744.65 in Wednesday's trade. It hit a high of Rs 2755.5 and low of Rs 2681.25 during the session. On the technical charts, the 200-DMA of the stock stood at Rs 2578.84, while the 50-DMA was at Rs 2683.47. If a stock trades above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades below 50-DMA and 200-DMA, it is considered a bearish trend and if trades between these averages, then it suggests the stock can go either way.

Krishana Phoschem Ltd.(up 0.18%) were among the top gainers.

Info Edge (India) Ltd. traded 0.65 per cent up at Rs 5052.0 at 10:05AM (IST) on Wednesday, even as BSE benchmark Sensex dropped 176.24 points to 73500.89. The stock had settled at Rs 5019.35 in the previous session. The stock quoted a 52-week high price of Rs 5536.8 and 52-week low of Rs 3310.0, respectively. As per BSE data, total traded volume on the counter till 10:05AM (IST) stood at 6100 shares with a turnover of Rs 3.11 crore.

Max Healthcare Institute Ltd. traded 1.05 per cent higher in Wednesday's session at 10:10AM (IST). The stock opened at Rs 738.65 and has touched an intraday high and low of Rs 742.95 and Rs 728.0, respectively, during the session so far. The stock quoted a 52-week high of Rs 909.0 and a 52-week low of 412.0. About 44,695 shares changed hands on the counter so far.

Investing.com-- Most Asian stocks fell on Wednesday with an underwhelming economic outlook from China providing little support, while overnight losses in Wall Street spilled over as markets grew skittish before more signals on U.S. rates. 

KUALA LUMPUR (Reuters) — Malaysia is expecting Australian companies to invest up to 24.5 billion ringgit ($5.17 billion) in the country, state news agency Bernama reported on Wednesday, citing Prime Minister Anwar Ibrahim.

Zee Entertainment Enterprises is under the F&O trade ban on Wednesday. For Zee, MWPL stood at 92.3% on Tuesday with OI reported by Trendlyne at 122.6 million. It was down 1.2% from the previous session. The stock had entered the ban on Saturday as stock exchanges BSE and NSE had decided to keep the market open despite the weekend holiday as part of its strategy to assess the system's preparation in the event of an unanticipated tragedy.

Sensex declined 195 points to settle at 73,677 and the broader Nifty declined 49 points to close at 22,356. Stocks that were in focus included names like IIFL Finance, which fell 20%, Bajaj Auto, which rose 1.74%, and Tata Steel, whose shares declined 5% on Tuesday.

Investing.com-- Oil prices fell slightly in Asian trade on Wednesday amid persistent concerns over slowing demand this year, although steady production cuts by the OPEC+ and little de-escalation in the Israel-Hamas war heralded tighter supplies.