Trade Financial News

One 97 Communications shares plunge 55 percent (From Jan 31 till date) on NSE and BSE. Moreover, following the announcement, major players like Jefferies and Macquarie also downgraded the stock rating. In a recent note, brokerage house Fisdom Research highlighted that before the recent decline since January 31, the MF industry’s shareholding in Paytm increased by 41 percent in January 2024 from December 2023.

By Katya Golubkova

By Amanda Cooper

Rohit Srivastava, Strike Money Analytics & Indiacharts, says there are two segments to look for: weakest and strongest. The two weakest sectors in the market right now are FMCG and private banks based on the data from 1st of February to now. So that comes to the forefront in terms of looking at weakness developing all over again. We have seen some short-term bounce back in individual stocks. Not really recommending anything but we have seen HDFC Bank do that. We have seen ICICI Bank go back towards the highs. We look for where the breakdowns start showing up within private banks in the next couple of days and that is where the opportunities may be.” What is the setup looking like? Let us talk clearly about Nifty, Bank Nifty first and then we will talk about areas of the market which are interesting to you. How does the Nifty, Bank Nifty setup look right now? Rohit Srivastava: While the Nifty may have made a new closing high, if I go to a slightly broader index like a Nifty 500 and take the highs of January-February, then we actually have not gone past that. At this point of time, possibly this will end up being a false breakout. We are not taking it as a serious break to new highs indicating that you started a fresh rally and so on.

Investing.com -- London-listed shares in Glencore (LON:GLEN) fell on Wednesday after the Swiss group flagged that a decline in energy and metal prices had contributed to a halving in its full-year earnings.

Shares of International Flavors & Fragrances (NYSE:IFF) fell more than 7% in after-hours trading Tuesday after the company missed earnings expectations for the fiscal fourth quarter and announced a significant dividend cut.

Investing.com — European stock markets traded in a mixed fashion Wednesday, with investors digesting a raft of corporate results, including disappointment from heavyweight HSBC. 

Investing.com — The U.S. dollar traded marginally higher in early European trade Wednesday, as traders awaited the release of the minutes from the latest Federal Reserve meeting for further clues of the path of U.S. interest rates.

Campus Activewear, a prominent sports and athleisure footwear company in India, saw its shares jump 12.6% in today's intraday trade, reaching ₹275.80 apiece. This uptick in shares came after 40,65,000 shares of the company changed hands in a block deal window on Wednesday with an average price of ₹245 apiece. The buyers and sellers, however, were not known immediately.

Jindal Steel & Power share price gained more than 3% in intraday trades on Wednesday. The Jindal Steel share price that is up almost 32% since 1st November and also scaled 52-week highs in February itself. Jindal Steel had impressed with the December quarter performance as its net profits more than doubled over the year-ago quarter.

Tata Power Trading Company Ltd (TPTCL) from Tata Power's 200 MW solar PV power plant in Bikaner district of Rajasthan, BluSmart said in a statement. "Enabled by the recently enacted green energy open access rules, this partnership with TPTCL allows BluSmart to completely eliminate Scope 2 emissions (indirect emissions) from its existing 1.4 million sq ft of EV charging infrastructure and future charging hubs," it said.

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Bitcoin (BTC)  exchange-traded funds (ETFs) in the United States have witnessed a remarkable surge in trading volume, reaching the highest levels since their debut last month. 

Investing.com-- Gold prices rose in Asian trade on Wednesday, extending a recent rebound as the dollar retreated in anticipation of more cues on U.S. interest rates, most notably from the minutes of the Federal Reserve’s late-January meeting. 

₹56.25 crore worthAtmastco IPO opened for public subscription on February 15 and ended on February 20. The issue was booked 17.61 times against its offer size. Atmastco IPO allotment is likely to be finalised on Wednesday, February 21.

Ambuja Cements Ltd. traded at Rs 591.8 on BSE at 12:22PM (IST) on Wednesday, up 0.5 per cent. The stock quoted a 52-week low price of Rs 324.3 and a high of Rs 596.5. Earlier in the day, the stock saw a gap up opening.

Six suspected OTC crypto scammers were arrested in Incheon, South Korea, police in the city confirmed on February 20.

Voltas Ltd. traded at Rs 1109.5 on BSE at 12:27PM (IST) on Wednesday, up 0.35 per cent from previous close. The scrip quoted a 52-week low price of Rs 745.0 and a high of Rs 1114.85.

Union Bank of India's share price jumped 7% to Rs 151 in Wednesday's trade on BSE after the state-owned bank approved a Rs 3,000 crore share sale proposal at a floor price of Rs 142.78 per share to fund its business growth. The floor price is at a marginal premium compared to the previous day's closing price of Rs 141.1. The bank also announced the opening of the issue on February 20.

Page Industries Ltd. traded at Rs 36619.45 on BSE at 12:37PM (IST) on Wednesday, up 0.56 per cent from previous close. The scrip quoted a 52-week low price of Rs 34968.6 and a high of Rs 43599.0.

By Echha Jain and Lewis Jackson