Trade Financial News

Vishal Malkan, Malkansview.com, says that in case of HDFC Bank, “the intermediate low has been made at around Rs 1,380 and we can look at rallies back to Rs 1,485 to 1,500 in the next few trading sessions. It could be a good trading call. Again, from a long-term perspective, it has to cross many hurdles before it gets into that bullish mode on the monthly chart. But at least for the daily chart, we can have a good swing trade up to 1500.” What levels to watch out for in Bank Nifty? A grudging move in HDFC Bank seems to be taking the Bank Nifty higher? Vishal Malkan: Yes, Bank Nifty was struggling with 47,000 since the last few weeks. We have seen that it has not been able to cross that. Today, it looks quite positive… Once it closes above that 47,100 mark, we can easily look at another 600 to 700 points which could be a couple of days’ play for Bank Nifty.

S&P Global (SPGI) is close to reaching an agreement to acquire the research platform Visible Alpha, a deal that could push its valuation over $500 million, according to the Financial Times.

By Paul Carsten

Investing.com — European stock markets traded in a mixed fashion Tuesday, as investors digested a bigger-than-expected cut in China’s benchmark lending rate amid persistent concerns of slowing growth, while Barclays soared after announcing a strategic overhaul. 

Investing.com — Capital One Financial (NYSE:COF) has said it will acquire credit card company Discover Financial Services (NYSE:DFS) in an all-stock, $35 billion deal, marking one of this year's largest deals and Capital One's largest deal in its history.

Investing.com — The U.S. dollar slipped lower in early European trade Tuesday, but remains close to recent highs given the prospects of higher-for-longer U.S. interest rates, while the euro faces a wages test later in the session.

US dollar's 2024 uptrend has shown signs of slowing down recently despite the US CPI and PPI data coming in higher-than-expected last week.

The category reserved for retail investors was subscribed 6 times, while that for NIIs was booked 80%.

Amid Bitcoin’s current trade at $51,585 marks a modest 1% dip, spotlighting the resilience and volatility intrinsic to digital currencies. As the financial landscape evolves, with cryptocurrency exchange-traded products (ETPs) amassing $67 billion in assets—echoing the fervor of a December 2021 bull run—the spotlight intensifies on Bitcoin’s potential trajectory.

Waaree Renewable Technologies, the solar EPC arm of Waaree Group, saw its shares surge by 5% to ₹4,650 each in today's intraday trading. This increase followed the company securing a significant Letter of Award (LOA) for executing engineering, procurement, and construction (EPC) duties for a solar power plant of 980 MWp. The contract, valued at ₹990.60 crore, was granted by one of India’s leading renewable energy firms.

what should be your trading strategy in this record-high environment? How should your portfolio look like? Here's what experts said: Tanvi Kanchan, Head – UAE Business & Strategy, Anand Rathi Shares and Stock Brokers For investors looking at the long-term perspective, short-term volatility can be used to increase exposure in sectors that are lower than long-term averages, as well as increasing large-cap exposure in the portfolio. An allocation between equity and debt as per tenor and risk profile can be maintained in the range of 60% - 70% in equity and balance in debt for an aggressive investor. Investors would do well to keep rebalancing their asset allocation and equity portfolio to realise profits from the equity portion (if it has overshot the allocated percent).

diversification and willing to navigate market fluctuations. Flexi-cap schemes offer the flexibility to adjust allocations based on current market conditions and emerging opportunities. “Unlike the constraints of single large, mid or small-cap schemes, which focus solely on respective companies, flexi-cap schemes provide the opportunity to adjust the allocation according to prevailing market conditions and opportunities.

₹1,059.40 on January 23 this year and saw mild profit booking after that. On Tuesday, February 20, the stock rose about a per cent to hit its intraday high of ₹1,052.65; at this price, the stock is down about 0.6 per cent from its 52-week high level. ICICI Bank reported a 23.5 jump in their standalone net profit for Q3FY24, which stood at ₹10,272 crore from ₹8,312 during the same quarter last year.

United Spirits Ltd. traded 1.77 per cent down at Rs 1136.4 at 01:54PM (IST) on Tuesday, even as BSE benchmark Sensex gained 155.43 points to 72863.59. The scrip had closed at Rs 1156.9 in the previous session. The stock quoted a 52-week high price of Rs 1163.85 and 52-week low of Rs 730.9, respectively. As per BSE data, total traded volume on the counter till 01:54PM (IST) stood at 84374 shares with a turnover of Rs 9.54 crore.

Lupin Ltd. fell 0.87 per cent to Rs 1573.65 in Tuesday's trade as of 01:49PM (IST) even as the benchmark Nifty ruled at 22156.15, up 33.91 points. The scrip had closed at Rs 1587.55 in the previous session. The stock quoted a 52-week low of Rs 628.1 and a high of Rs 1701.0. The company quoted a market-cap of Rs 71575.06 crore on the BSE.

Coal India share price corrected more than 4.0% in the intraday trades on Tuesday. The Coal India stock that has scaled 52-week highs of ₹487.75 on 16th February after having more than doubled from 52 week lows of ₹207.75 on MArch'2023, has given up some parts of the gains. The volume outlook for Coal India remains strong as was highlighted by the management during the recent investor presentation on 19th February.

LONDON — Barclays on Tuesday reported a fourth-quarter net loss of £111 million ($139.8 million) as the British lender delivered its first major strategy update since 2016.

Stock market today: Vibhor Steel Tubes IPO listed on BSE and NSE delivering over 180 percent premium. Shares of Vibhor Steel Tubes Limited are listed on BSE at ₹421 apiece whereas on NSE, Vibhor Steel Tubes share price opened at ₹425 apiece. However, the dream debut of Vibhor Steel Tubes shares didn't end there.

One 97 Communications, the parent company of Paytm, have recently shown significant upward movement, consistently hitting upper circuit limits in recent trading sessions. In today's trading session, the stock was locked at a 5% upper circuit limit at ₹376 apiece, marking the third consecutive day of a 5% rally.

The NSE Nifty index was trading 23.71 points down at 22098.55, while BSE Sensex was up 35.19 points at 72743.35 at the time of writing this report.

Oriental Trimex Ltd.(up 7.76%), Ashapura Minechem Ltd.(up 3.16%), Aro Granite Industries Ltd.(up 2.86%), Madhav Marbles & Granites Ltd.(up 2.42%), Lexus Granito(India)Ltd.(up 1.40%), 20 Microns Ltd.(up 0.97%), The Orissa Minerals Development Company Ltd.(up 0.19%) and Gujarat Mineral Development Corporation Ltd.(up 0.05%) were among the top gainers.