Trade Financial News

Hindalco Industries Ltd share price gained more than 1% in morning trades on Wednesday, however was trading the red thereafter. Hindalco share price had seen sharp correction of more than 12% on Tuesday. Hindalco had posted its December quarter performance on Tuesday.

₹5 crore" by the a party colleague for switching over to the RJD-led 'Mahagathbandhan' ahead of the trust vote.. Sudhanshu Shekhar told news agency ANI, “I am loyal towards my leader...I have given all the details in the FIR... I am under no pressure...

Mint. This is significant development, given India plays a crucial role in the G20 as part of the leadership trio, including Brazil and South Africa, tasked with steering the organization's discussions and decisions throughout the year. The G20 meeting is set for 21-22 February, directly overlapping with the Raisina Dialogue, scheduled for 21-23 February.

Eicher Motors, Wipro, Infosys, LTIMindtree and IndusInd Bank were the losers on Nifty, while BPCL, Adani Enterprises, Apollo Hospital Enterprises, Adani Ports, and Hindalco were the top gainers. Reliance Industries was the only stock in green among the constituents of the Sensex index.Indian benchmark indices were in the red at pre-open on Wednesday, tracking Asian and US peers down, on the back of hotter-than-expected US-inflation data.At opening bell, Sensex was down 519.94 points, or 0.73%, at 71,035.25 and Nifty was down 175.80 points, or 0.81%, at 21,567.45.Reviewing the banking, financial services and insurance sector's December quarter results so far, brokerage house Anand Rathi noted that the higher cost of fund (CoF) impact seen in banks has not yet hit non-banking financial companies.

Airbnb forecast first-quarter revenue above Wall Street estimates on Tuesday, as it expects a boost from strong cross-border travel and longer-duration bookings. International travel demand is expected to remain strong this year as global air connectivity increases and travelers flock to Asian and Latin American countries, while domestic travel demand plateaus in North America.

The Nifty futures closed positive with gains of 0.55% at 21816 levels on Tuesday. India VIX was down by 1.56% from 16.06 to 15.81 levels. Volatility cooled off from its highs and gave way to the bulls at crucial support zones.

Aditya Birla Fashion and Retail (ABFRL), Ashok Leyland, Aurobindo Pharma, Balrampur Chini, Bandhan Bank, Biocon, Delta Corp, India Cements, Indus Towers, National Aluminium Company, Punjab National Bank (PNB), Steel Authority of India (SAIL) and Zee Entertainment Enterprises (ZEEL). Hindustan Copper has moved out of the ban.

“The combination of flexicap and largecap funds can offer investors a balanced approach to navigating the current market environment, leveraging the strengths of both flexibility and stability” says Rajesh Bhatia, CIO at ITI Mutual Fund. In an interview with ETMarkets, Bhatia who has over 30 years of investment experience said: “Investing in Large Cap funds can be a prudent strategy for investors looking for stability and growth potential in their portfolios,” Edited excerpts: We have seen some volatility in the market post the Interim Budget. What is keeping investors on the edge, or is it profit-taking? Rajesh Bhatia: The Indian markets are in a bull phase. The breath of sector participation in this rally implies that this is a strong market.

Asian shares tracked a negative lead from Wall Street on Wednesday, while the dollar and Treasury yields jumped as traders pared back expectations for the pace and scale of rate cuts by the Federal Reserve this year. The latest shift in rate expectations came after an upside surprise in U.S. inflation on Tuesday which showed the consumer price index (CPI) rising 3.1% on an annual basis, above forecasts for a 2.9% increase.

dollar traded near three-month highs to major peers on Wednesday as traders pushed back bets for a first Federal Reserve interest rate cut following surprisingly hot U.S. inflation figures overnight. The U.S. currency's push above 150 yen for the first time since Nov. 17 spurred Japan's top currency diplomat to hint at the risk of intervention if «rapid,» «speculative» yen declines continue.

Gold languished near a two-month low on Wednesday, trading below the key $2,000 per-ounce level, after a stronger-than-expected U.S. inflation report dampened expectations for more than three quarter-point rate cuts from the Federal Reserve. FUNDAMENTALS

Oil prices fell in early Asian trade on Wednesday after a U.S. industry group reported crude stocks rose more than expected last week and as investors reined in expectations for interest rate cuts by the U.S. Federal Reserve. Brent futures fell 29 cents, or 0.4%, to $82.48 when the market opened at 0000 GMT. U.S. West Texas Intermediate (WTI) crude futures fell 22 cents, or 0.3%, to $77.65 a barrel.

Jeff Bezos didn’t wait long to start cashing in on Amazon.com Inc.’s rally to start the year. Less than two weeks after disclosing a plan to dispose of as many as 50 million shares of the company he founded, Bezos has offloaded 24 million shares, worth more than $4 billion. The sales, revealed in regulatory filings, took place over just four trading days. The world’s second-richest person previously hadn’t sold stock since 2021.

Investing.com-- Oil prices fell in Asian trade on Wednesday after industry data pointed to an outsized build in U.S. crude inventories, while markets were also reeling from a hot inflation reading that further dented bets on early rate cuts by the Federal Reserve. 

Investing.com-- Most Asian shares tumbled on Wednesday, tracking an overnight decline on Wall Street after sticky U.S. inflation data spurred renewed concerns over higher for longer interest rates.

Indian stock market: Frontline indices the Sensex and the Nifty 50 ended higher on Tuesday, February 13, driven by notable performances from specific banking giants. Nifty 50 rose 127 points, or 0.59 per cent, to end at 21,743.25 while the Sensex closed at 71,555.19, up 483 points, or 0.68 per cent. Mid and smallcaps also ended in the positive territory.

United States, the UK and Guam on Tuesday. Picketing members included cabin crew from 24 airlines including Alaska, Southwest Airlines, United Airlines and American Airlines. Shares of Alaska Air fell 2.1% in afternoon trade.

BSE Sensex jumping 483 points to 71,555, while the Nifty 50 increased by 127 points to 21,743. The benchmark index started the day positively, ticking around 50 points at the opening. However, the rub-off effect of the previous session quickly reversed those gains, pushing prices down within minutes.

Dividend stocks: Shares of Procter & Gamble Health Ltd, Sumitomo Chemical India Ltd, Minda Corporation Ltd, Archean Chemical Industries Ltd, Dhanuka Agritech Ltd, Goodluck India Ltd, and HIL Ltd will be in focus when the stock market opens on February 14 (Wednesday). The Board of Directors of these companies have declared interim dividend for their eligible shareholders. The record date by the 7 companies to ascertain the eligibility of shareholders for their respective issues have been fixed on February 14.

Jana Small Finance Bank IPO: The listing date of the initial public offering (IPO) of Jana Small Finance Bank has been fixed on 14th February 2024 i.e. today. As per the information available on the BSE website, the Jana Small Finance Bank IPO listing will take place in a special pre-open session on 14th February 2024.

Sensex gained 482.70 points, or 0.68%, to close at 71,555.19, while the Nifty 50 ended 127.20 points, or 0.59%, higher at 21,743.25. “Going ahead Nifty is expected to remain in the broader range given the lack of positive triggers globally and mixed set of domestic Q3 earnings which too is unable to provide any support.