Trade Financial News

By Colleen Howe

Investing.com-- Oil prices fell in Asian trade on Monday, extending steep losses from the prior session as markets remained uncertain over demand, especially in the face of higher-for-longer U.S. interest rates.

Dividend stocks: Shares of Natco Pharma Ltd, Fineotex Chemical Ltd, Gateway Distriparks Ltd, Suprajit Engineering Ltd, and Vibrant Global Capital Ltd will be in focus when the stock market opens on February 26 (Monday). The Board of Directors of these companies have declared interim dividends for their eligible shareholders.

Indian stock market today: A total of 13 stocks have been banned for trade on Monday, February 26, 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.

By Dmitry Zhdannikov and Julia Payne

By David Stanway

By David Milliken

Investing.com-- Alcoa Corp (NYSE:AA) said on late-Sunday it made a $2.2 billion, all stock offer to take over Australian aluminum producer Alumina Ltd (ASX:AWC) and potentially create one of the world’s largest bauxite and alumina producers.

The Cardano (ADA) price has been fluctuating this week, down around 2.5% to trade around $0.58. However, this minor pullback shouldn’t alarm ADA holders too much, considering some other major altcoins like AVAX, XRP, and SOL have dropped almost 10% in the same period.

Jupiter Asset Management recently moved to cancel its partnership with the 21Shares Ripple (XRP) exchange-traded product because of regulatory issues faced in Ireland. Jupiter invested over 2 million into the fund and didn’t lose much by pulling out of the investment.

Filecoin (FIL) could rise amid growing demand for its decentralized storage facilities. Stacks (STX) has partnered with a blockchain infrastructure provider.

In the latest market activity, Bonk (BONK/USD) is trading at $0.000012, marking a increase of nearly 1% in the past 24 hours.

Civil Society Organisations Sunday said that there is no mandate for the adoption of the proposed agreement on investment facilitation for development (IFD) which is being negotiated by a group of members of the World Trade Organization (WTO), led by China. A WTO decision of 2004 prohibits negotiations on investment facilitation and efforts are on to bring the issue in through plurilateral means. Around 130 members support the pact. The US, Sri Lanka and Pakistan are also not part of this proposed pact. India and South Africa have opposed it as it neither has the WTO mandate or its members’ consensus and cannot be brought to the formal process in the WTO.

₹1.44 trillion. Then, the state-run lender came from behind, dramatically shrinking the gap to just ₹585.5 billion in the past 12 trading sessions through 23 February, as SBI joined a rally in stocks of public sector companies. As of Friday, SBI's market cap stood at ₹6.77 trillion, against ICICI Bank's ₹7.44 trillion, Bloomberg data showed.

Amarinder Singh on Sunday condemned the Haryana Police for the "barbaric act of violence" against a farmer who was injured during the ongoing farm protest at the Khanauri border. He also urged Haryana Chief Minister M L Khattar to take strict action against the policemen responsible for assaulting the farmer — Pritpal Singh — who is currently undergoing treatment at the PGIMER in Chandigarh. Amarinder Singh, the former Punjab chief minister, said on X, «I strongly condemn the barbaric act of violence committed by the Haryana Police on our young farmer Pritpal Singh.» «I urge Haryana CM @mlkhattar to take strict action against the policemen who are guilty of badly beating up an unarmed youngster who was just serving langar to people,» he said.

Diana Shipping Inc . (NYSE:DSX) successfully navigated mixed market conditions in the fourth quarter of 2023 to generate positive free cash flows and maintain high fleet utilization. CEO Semiramis Paliou highlighted the company's disciplined chartering strategy and investments in greener shipping during the year-end conference call.

On Sunday, Bitcoin demonstrates resilience with a 1.35% increase, trading at $51,600 on Sunday. This stability comes at a time when the Texas Blockchain Council and Riot Platforms achieve a notable legal victory against US energy regulators, securing a temporary restraining order that underscores the ongoing debate over cryptocurrency mining regulations.

Indian Stock Market: Nifty opened higher but failed to sustain the morning momentum, leading to a closing at the day's low due to profit booking. However, the sentiment remained positive for the short term as the index closed above the crucial resistance level of 22,200, with the next resistance seen at 22,400. Short-term support is positioned at 21,900.

Investing.com — Here is your Pro Recap of the top takeaways from Wall Street analysts for the past week: upgrade for Coty, downgrades for Alkermes, Compass and Boeing.

Notwithstanding the wild moves seen in shares of Paytm in the last three weeks following the RBI ban on Paytm Payments Bank, Anand James, Chief Market Strategist at Geojit Financial Services, sees a trading play in the stock. “Our upside objective is in the region of Rs 500-550, but would be mindful of the chances of major collapse, should we not get above Rs 430. An aggressive stance would be to have Rs 390 as the downside marker,” he said. Edited excerpts from a chat: Following new peaks made by Nifty this week, how cautious would you be in the next week ahead of the monthly F&O expiry? What are the key levels to watch out for? Anand James: As we step into the last week of February series, rollovers have started to gain momentum in Energy, Metal and Chemical stocks, with 85% of F&O stocks appearing to witness long buildup since last expiry and 53% on a week on week basis. Meanwhile, 11% of F&O stocks saw Short buildup since last expiry and 42% on a week on week basis. Long addition was visible in Cement, Capital goods, Oil, Auto and Pharma stocks since beginning of this expiry.

Nifty 50 index hitting record highs in all five sessions, buoyed by a rise in heavyweight financials. The Nifty 50 and BSE Sensex gained 0.78% and 1%, respectively, for the week, despite falling 0.02% each on Friday.