Trade Financial News

New York because of hurdles to the listing in the US, according to people with knowledge of the matter. Shein, which was founded in China but is now headquartered in Singapore, is in the early stages of exploring the London option as it has judged it unlikely that the US Securities and Exchange Commission will approve its IPO, the people said, asking not to be identified discussing confidential information. Shein is still working on its application to list in the US as its preferred location, the people said.

Sensex dropped 352.67 points to close at 72,790.13, while the Nifty 50 declined 90.65 points, or 0.41%, to settle at 22,122.05. Nifty 50 formed a small negative candle on the daily chart, which indicates follow-through weakness post new high formation. “The market is still placed in a broader range movement and one may expect buying to emerge from the lower levels.

Sensex dropped 352.67 points, or 0.48%, to close at 72,790.13, while the Nifty 50 declined 90.65 points, or 0.41%, to settle at 22,122.05. “Globally investors would take cues from macro data releases lined up during the week. Overall, we expect the market to consolidate at higher zones while following global trends," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.

Day trading guide for Indian stock market today: On account of weak global market sentiments, the Indian stock market ended lower on Monday. The Nifty 50 index lost 90 points and closed at the 22,122 level, the BSE Sensex dipped 352 points and ended at the 72,790 mark whereas the Bank Nifty index corrected 235 points and closed at the 46,576 level.

Zuma Global President Heather Zumarraga reacts to a recent report revealing that tech companies have cut 32,500 jobs in 2024 on ‘The Big Money Show.’ 

Shein is considering the possibility of switching its initial public offering to London from New York because of hurdles to the listing in the US, according to people with knowledge of the matter. Shein, which was founded in China but is now headquartered in Singapore, is in the early stages of exploring the London option as it has judged it unlikely that the US Securities and Exchange Commission will approve its IPO, the people said, asking not to be identified discussing confidential information.

economists, decelerating from 7.6% in the preceding three months. Forecasts ranged from 6% to 7.2% for the quarter ended December. The Reserve Bank of India estimates the economy to have grown 6.5% in the period. The government is scheduled to release the data on Thursday. Monetary policy may weigh «A slowdown in state-led capex, which has been propelling investment, likely contributed to the expected deceleration in Q3,» said Rahul Bajoria, managing director and head of EM Asia (ex-China) economics at Barclays.

Indian Oil State-run Indian Oil has cancelled the tender for setting up the first green hydrogen plant at the company's Panipat Refinery and Petrochemical Complex in Haryana.

cross-border remittances has found support from many World Trade Organization members including the European Union, officials said. Except for the US, most countries have favoured a work programme at the WTO for cheaper, faster and more accessible cross-border payments including remittances. Separately, Indonesia has backed New Delhi's proposal to reinvigorate the work under the Work Programme on Electronic Commerce, which requires structured discussion on trade-related issues over global e-commerce, taking into account the economic, financial and development needs of developing countries. Last week, New Delhi pushed for promoting interoperability and interlinkages of digital payment infrastructure including fast payment systems to lower transaction costs.

«We reiterate our view to continue with a “buy on dips” approach until Nifty decisively breaks 21,900 levels. However, traders should maintain extra caution in stock selection citing mixed participation and avoid high beta counters,» said Ajit Mishra, SVP — Technical Research, Religare Broking.

Indian stock market today: A total of 5 stocks have been banned for trade on Tuesday, February 27, 2024, under the futures and options (F&O) segment by the National Stock Exchange (NSE). The securities have been put on ban under the F&O segment as it crossed 95 per cent of the market-wide position limit (MWPL), according to the NSE. However, the stocks will be available for trading in the cash market.

NMDC: The company has declared an interim dividend of ₹5.75 per equity share. In a stock exchange filing, NMDC said the Board of Directors “declared 1st Interim Dividend @ ₹ 5.75 (Rupees five and seventy five paise only) per equity share of face value of Re.1/- each for the financial year 2023-24. The said Interim Dividend shall be paid / dispatched within the prescribed timelines as per the provisions of the Companies Act, 2013 to those equity shareholders of the Company whose names appear in the Register of Members / records of Depositories as beneficial owners of the equity shares as on Tuesday, the 27th February 2024, which is the Record Date fixed for the purpose." Shares of NMDC will trade ex-dividend on Tuesday.

By Echha Jain

Late last year, U.S. Representative Nancy Pelosi reported a transaction to purchase call options in NVIDIA Corporation (NASDAQ:NVDA). After a massive rally in the stock this year related to breathtaking AI uptake and the company's strong financial results, Pelosi is now said to be sitting on a significant windfall profit.

WTO agreement on duty-free trade in digital services would appear to be self-damaging. India is a major beneficiary of growth in services trade, and within that, the rise of digital trade, which has been allowed free access through a quarter century of tax moratorium. Tax forgone on import of services such as ecommerce, entertainment and software would be a fraction of the volume of India's technology-enabled services exports that could face tariffs in retaliation.

By David Shepardson and Chris Sanders

Uncertainty over how long interest rates will remain elevated is posing a risk to growth and credit quality at Canada’s big banks, according to analysts who will be keeping an eye on those metrics when quarterly earnings are released this week.

GIFT City have reached out to the Reserve Bank of India (RBI) for consultations in setting up a dollar payment system mechanism that aims to bring about greater efficiency in transactions conducted in the US currency, sources aware of the developments told ET. «There are initial discussions about this matter because at present when a dollar transaction happens from one bank's nostro account abroad, it takes several hours for a subsidiary in GIFT City to receive the dollars,» one of the sources said. A potentially new dollar payment system could be akin to the existing Real-Time Gross Settlement System (RTGS), said the source.

By Saqib Iqbal Ahmed

₹16 trillion in their investments in mutual funds and ₹20 trillion from direct equity investments. The combined value of their investments in mutual funds and equity is now placed at over ₹67 trillion. Another equally remarkable transformation has been the emergence and now dominance of derivatives trading.

As the 13th Ministerial Conference of the World Trade Organization (WTO) begins, the question is not whether this once-important gathering will fail, only if it will fail in a way that’s even worth noticing. The prevailing sentiment seems to be, “True, this broken relic of neoliberalism is barely any longer functioning. Who cares?" Regardless of your views on globalization, you should care.