Trade Financial News

Tata Power Company Ltd. traded at Rs 360.55 on BSE at 12:23PM (IST) on Tuesday, down 0.33 per cent from previous close. The scrip quoted a 52-week low price of Rs 182.45 and a high of Rs 412.75.

LTIMindtree Ltd. 0.0 per cent to Rs 5517.05 in Tuesday's trade. It hit an intraday high of Rs 5536.2 and low of Rs 5466.0, respectively, during the day. The stock quoted a 52-week high price of Rs 6442.65 and low of Rs 4130.3.

cryptocurrency was also buoyed by expectations of interest rate cuts later this year and last month's regulatory nod for U.S. exchange-traded funds designed to track its price. However, Bitcoin fell just below the $50,000 mark in early trade on Tuesday, trading 3.9% higher at $49,971. Whereas, the price of Ethereum, the second-largest cryptocurrency, was up 6% at $2,649.

Page Industries Ltd. gained 0.29 per cent to Rs 36188.0 in Tuesday's session as of 11:32AM (IST) even as the equity benchmark Sensex traded 423.36 points higher at 71495.85. Earlier in the day, the stock witnessed a gap up start to the session. The stock quoted a 52-week high price of Rs 43599.0 and a 52-week low of Rs 34968.6 on NSE. Around 94 shares changed hands on the counter till 11:32AM (IST).

Investing.com-- Arm- the British chip designer which is majority owned by SoftBank, saw its market valuation more than double in a matter of days after it flagged improved earnings on increasing demand from artificial intelligence.

Steel Authority of India (SAIL) share price slumped over 5% on Tuesday's trading session after State-owned company's Q3 profit saw a 22% decline. SAIL share price today opened at ₹119 apiece on BSE.

₹509.95 apiece, continuing its sharp movement for the sixth consecutive trading session. In the last five sessions alone, the stock has increased by 85%. With today's rise, the total increase over the six-day period has reached 99.30%.

Hindalco Industries saw its stock price decline by 10% in morning trades on Tuesday post its US subsidiary Novelis posted its December quarter performance. While the financials were in line with the expectations its the Capex guidance and timeline that disappointed said analysts Novelis’ 3QFY24 adjusted EBITDA came in line with our estimates, with demand outlook improving in America, whereas Europe and Asia remain under pressure, said analysts at Kotak Institutional Equities.

Investing.com-- Most Asian stocks rose slightly on Tuesday in anticipation of key U.S. inflation data, while Japan’s Nikkei 225 index rallied to 34-year highs on positive earnings from the technology sector and dovish signals from the Bank of Japan.

Investing.com-- The price of bitcoin hit an over two-year high on Tuesday, with the world’s largest cryptocurrency crossing key levels amid consistent capital flows into the recently approved spot exchange-traded funds. 

By Brigid Riley

Investing.com-- Oil prices moved little in Asian trade on Tuesday as traders turned cautious ahead of key U.S. inflation data that is expected to factor into the path of interest rates, while an OPEC monthly report was also in focus. 

Indian onions are fetching as much as ₹140 a kilogram in Malaysia, Sri Lanka and the UAE, more than ten times the wholesale price in Nashik, tempting smugglers to defy a ban on the export of the bulb vegetable, traders said.These «rogue exporters», traders said, are shipping out onions by mis-declaring them as potatoes, shallots or even labelling them as grapes. India banned the export of onions effective December 8 to make the essential kitchen staple cheaper for domestic consumers. This has led to a crash in the price from more than ₹40 a kg to around ₹13 currently in the wholesale market of Nashik, India's main onion-growing region. The ban on exports by the second largest onion producer, which used to ship 40,000-50,000 tonnes of the commodity every week, caused a spike in international prices.

earnings on Tuesday with Street tracking the results of Hindalco Industries, Bharat Heavy Electricals (BHEL), Nuvama Wealth Management and Indian Railway Catering and Tourism Corporation (IRCTC). Among other important results will be those by Arvind Fashions, Antony Waste Handling Cell, Bombay Burmah Trading Corp,, Bosch, Coffee Day Enterprises, Gujarat Gas, Hindalco Industries, Hindustan Copper, Inox India, MTAR Technologies, Mahanagar Telephone Nigam, National Aluminium, Info Edge, NBCC (India), Ltd, OIL, Panacea Biotec, Praveg, Prestige Estates Projects and Sula Vineyards.

sanctions, trade restrictions are proposed to be imposed on the listed companies. Besides this, the EU has recommended sanctions on over 110 individuals and entities, forming part of a broader package commemorating two years since Russia's invasion of Ukraine. Also Read | European Union looking to sanction Indian and Chinese firms over Russia dealings, says report The listed companies are primarily engaged in technology and electronics, as per the report.

Meteorologists have predicted that El Niño conditions are set to dissipate by this summer, perhaps even by June, raising hopes of a bountiful Indian monsoon in 2024. After below-average cumulative rainfall and a warm 2023, various national weather forecasting agencies now expect this see-saw of the Pacific Ocean to turn neutral by April-June and then start developing into La Niña, the opposite condition. As geography dictates and experience shows, this switch implies a shift from a relatively parched Indian subcontinent to a wetter one.

Read the full story here.) Bitcoin today achieved a significant milestone by reaching $50,000 for the first time in over two years, Bloomberg reported. The world's largest cryptocurrency last traded at $50,000 in December 2021.This marks a notable recovery from the setbacks faced by the crypto industry, including scandals and bankruptcies, which cast doubts on the sustainability of digital assets.Bitcoin has tripled in value since the beginning of last year, rebounding from a 64 percent decline in 2022. Despite this surge, the current price remains below the all-time high of nearly $69,000 recorded in November 2021.

Tripadvisor Inc said on Monday the online travel agency had formed a special committee to evaluate proposals that may result in a deal, sending its shares up 14.2% in extended trading. Centerview Partners will act as the financial adviser to the special committee, which will also look into the recent Liberty TripAdvisor Holdings' disclosure of its intent to evaluate potential alternatives involving the two companies.

Sensex settled 523 points lower at 71,072 and the broader Nifty also closed 166 points lower at 21,616. Stocks that were in focus included names like Global Health, which rose 6.34%, MCX, which dropped 9.03%, and Apollo Hospitals, whose shares jumped 2.6% on Monday.

Stock market today: On account of the sharp sell-off in PSU stocks, the Indian stock market gave up early morning gains and ended lower on Monday. The Nifty 50 index lost 166 points and closed at the 21,616 level, the BSE Sensex nosedived 523 points and finished at the 71,072 mark while the Bank Nifty index crashed 752 points and ended at the 44,882 level. In the broad market, the small-cap index crashed 3.16 percent whereas the mid-cap index tanked 2.62 percent.

Sensex plunged 523.00 points, or 0.73%, to close at 71,072.49, while the Nifty 50 settled 166.45 points, or 0.76%, lower at 21,616.05. Nifty 50 formed a long bear candle on the daily chart that placed it at the edge of the downside breakout of the crucial support of the uptrend line at 21,600 levels. Also Read: Indian stock market: 8 key things that changed for market overnight - Gift Nifty, inflation to Bitcoin price rally “The weakness in the benchmark Nifty was accompanied by a deep cut in the broader market indices like midcap and small-cap segments on Monday.