Trade Financial News

Rail Vikas Nigam and Indian Railway Finance Corporation (IRFC), locked in 10% upper circuit limit in today's trade, while another railway PSU, Ircon International, soared by an additional 15%, touching a new all-time high of ₹261.35 apiece. Railway PSUs have been on an upward trajectory since the government announced a substantial capital outlay of ₹2.40 lakh crore for the Indian Railways in the Union Budget 2023-2024. This marked the highest-ever outlay, approximately nine times the investment made in 2013–14.

“Policy making is dynamic in India and budget is not a limiting event. If an investor’s asset allocation permits to invest additional funds in equity then given the rich valuations currently, it could be deployed over 6 months,” says Rohit Sarin, Co Founder – Client Associates managing assets worth over $6 Bn. In an interview with ETMarkets, Sarin said: “As of now, all debt instruments including bonds attract marginal tax rate in India. We expect policy stability on this front. 10-Year Bond Yields, and Inflation—paints a compelling narrative,” Edited excerpts: Markets are trading near record highs as we approach the Interim Budget 2024 or the Vote on Account – what are your expectations? Rohit Sarin: Indian markets have been resilient in 2023 on account of the resilience of the domestic economy. With indications of an accommodative stance of the US Fed in 2024 markets are expected to remain strong in 2024 aided by the reallocation of global liquidity towards equity in general and growing economies like India in particular.

railway stocks as they continue to move on the fast track ahead of the 2024 Budget. Ircon International was the leader in the pack on Saturday, gaining 15% while hitting a fresh 52-week high.

Grim milestones have kept piling up in recent days: Tokyo has overtaken Shanghai as Asia’s biggest equity market, while India’s valuation premium over China has hit a record. Locally, a meltdown in Chinese shares is wreaking havoc on the nation’s asset management industry, pushing mutual fund closures to a five-year high. The Hang Seng China Enterprises Index has already lost 11% in 2024.

bitcoin began trading last week, making it easier for anyone with a basic brokerage account to buy a slice of the digital currency. Several established financial institutions, including Fidelity and BlackRock, have coalesced around bitcoin because it is the world's first and largest cryptocurrency.

Paytm jumped over 3% to the day's high of Rs 798 on the NSE in Saturday's trading session after the company reported a jump in its December quarter revenue while narrowing its losses. With today's gains, the stock has remained unbeaten in three sessions and gained over 8%. The digital payments major narrowed its losses to Rs 220 crore for the quarter ended December 2023, compared to Rs 290 crore in the September quarter and Rs 392 crore in the year-ago quarter. Revenue from operations in the third quarter jumped 38% to Rs 2,850 crore as against Rs 2,062 crore in the corresponding quarter of the previous year. Read more | Paytm Q3 Results: Losses narrow to Rs 220 crore; revenue jumps 38% YoY Reacting to Paytm's quarterly show, analyst Sanjiv Bhasin said that he has been recommending the stock at levels of Rs 600, 620 and the stock has now surpassed Rs 780.

bitcoin began trading last week, making it easier for anyone with a basic brokerage account to buy a slice of the digital currency. Several established financial institutions, including Fidelity and BlackRock, have coalesced around bitcoin because it is the world’s first and largest cryptocurrency. But bitcoin remains an enigma to most everyday investors, and it’s hard to separate the buzz from any true potential. It’s also wildly volatile. In other words, it’s a bet. And institutions are wagering that plenty of investors want in.

Exchange-traded funds come in many shapes and sizes. Some are plain vanilla, diversified index funds that let you invest in the entire stock and bond markets, and are excellent core holdings for the great majority of people. Then there are the quirky, narrowly focused ETFs like the Inverse Cramer Tracker, which enables you to bet against the stock picks of CNBC television host Jim Cramer. The fund is legal, approved by the Securities and Exchange Commission — and a money-loser since its inception last year. Betting against Jim Cramer just isn’t a great investing strategy. Neither is fear of missing out. Yet FOMO is the main reason for putting money into bitcoin, which remains highly speculative, difficult to categorize and without an immediately identifiable economic function. The SEC this month approved 11 new ETFs that track the price of bitcoin, and the decision has been heralded by promoters of bitcoin — and of the new funds — as an important event, legitimizing bitcoin as an asset class.

undervalued stocks available at a good bargain. These stocks not only offer a safety margin in their valuations but also show promising signs of aligning with the market's upward momentum, potentially heralding a prolonged bullish phase. This scenario presents a potential win-win if navigated astutely.

The Impulsive Trade - In the frenzy of a rapidly changing market, experienced traders may succumb to impulsive decision-making when under emotional stress. A sudden surge of fear or greed can trigger impulsive trades, deviating from well-thought-out strategies. This impulsivity, born out of mental instability, often results in suboptimal decisions and financial losses.

New Delhi: India’s ministry of electronics and information technology (Meity) is yet to find a solution to local cryptocurrency users accessing global crypto exchanges via virtual private networks (VPN). The government had blocked web and app store access to Binance, Kucoin, Huobi and six other exchanges on 12 January.

Stock in focus: After the announcement of Reliance results for Q3FY24 on Friday, market observers and stock investors are expected to remain vigilant about the movement of Reliance shares on Saturday. The Sensex heavyweight on Friday reported an 11 per cent YoY rise in net profit during the October to December 2023 quarter. The energy-to-telecom conglomerate's gross revenue in the third quarter of the current fiscal rose 3.2 per cent YoY to ₹2,48,160 crore.

Hindustan Zinc share price rose by about 1% during the Saturday trading session as analysts reported that the Vedanta Group company's Q3 earnings were in line with street projections. On Friday's session post the Q3 results, Hindustan Zinc shares jumped over 4%.

₹2,492.65 apiece on the BSE. HUL posted a standalone net profit of ₹2,519 crore for the third quarter of FY24, a growth of just 0.55% from ₹2,505 crore in the same quarter of last fiscal year. However, HUL’s Q3 net profit declined 7.28% from ₹2,717 crore on a sequential basis.

HFCL (Himachal Futuristic Communications Limited), a company with diverse operations in telecom infrastructure, saw its shares jump 8.52% in today's early trade, touching a new 52-week high of ₹96.10 apiece following the company's announcement of a strong order win. On Friday, the company said it secured an order worth ₹623 crore for the supply of indigenously manufactured Telecom Networking Equipment for the 5G network of one of the domestic telecom service provider.

Sensex jumped 496 points to settle at 71,683.23 and the Nifty climbed 160 points to end at 21,622. Stocks that were in focus included names like Metro Brands, which fell 3.84%, HUL, which rose 0.78%, and Titan, whose shares climbed 2.18% on Friday. Here's what Pravesh Gour, Senior Technical Analyst at Swastika Investmart, recommends investors should do with these stocks when the market resumes trading today.

interest rates and resilient growth in 2024 took the S&P 500 stock index to a record high on Friday, after two roller-coaster years featuring soaring inflation, tumult in the banking industry and economic unease. The benchmark index topped 4,820 in the afternoon, as chipmakers and big technology stocks powered gains on optimism around artificial intelligence (AI). This put the index above its previous record intraday high of 4,818.62 set on Jan.

Ayodhya Ram Mandir News Live updates The Central Consumer Protection Authority (CCPA), headed by Chief Commissioner Rohit Kumar Singh, has initiated action against Amazon Seller Services. The authority said it has been observed that various sweets/food products are available for sale on the Amazon e-commerce platform (www.amazon.in) claiming it to be "Shri Ram Mandir Ayodhya Prasad".

Sensex jumped 496.37 points, or 0.70%, to end at 71,683.23, while the Nifty 50 settled 160.15 points, or 0.75%, higher at 21,622.40. “Next week the result season will pick up pace with a host of key large and mid-cap companies releasing their numbers. Overall we expect domestic equities to trade in a broader range with positive bias," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.

Buy or sell stocks for today: Despite being Saturday today, dealing on Dalal Street will take place from 9 AM to 3:30 PM. The decision has come ahead of the Ram Temple ‘Pran Pratishtha’ ceremony in Ayodhya on Monday, January 22. So, the stock market in India will remain closed on the following Sunday (21st January 2024) and Monday (22nd January 2024).

normal trading session today, while the markets will remain shut on Monday, January 22. On Friday, the benchmark indices witnessed a minor upside bounce after showing sharp weakness in the last couple of sessions. The Sensex jumped 496.37 points, or 0.70%, to end at 71,683.23, while the Nifty 50 settled 160.15 points, or 0.75%, higher at 21,622.40.