Trade Financial News

Small investors in China are using an underground network of brokers and go-betweens to skirt the country’s strict rules on cryptocurrency trading. China is officially one of the world’s toughest jurisdictions for cryptocurrencies. Beijing banned crypto trading in 2021, and authorities have since detained, fined and jailed people working in the sector.

The Indian rupee ended little changed on Thursday, after hovering in a tight range for much of the session as positive cues from a slight pickup in its Asian peers were offset by dollar demand from foreign banks.The rupee closed at 83.1225 against the U.S. dollar, barely changed from its close at 83.1375 in the previous session.

LONDON (Reuters) — The International Monetary Fund faces tough choices on how to deal with Pakistan after the February election and how to assess the country's debt situation, a former central bank governor of the South Asian nation said.

Investing.com — The U.S. dollar slipped lower during early European trading Thursday, but remained near a one-month high after robust U.S. retail sales data spurred more doubts over early rate cuts by the Federal Reserve.

The South Korean government says it will “completely re-examine” the “need” to tax crypto traders on their earnings.

Investing.com — European stock markets traded marginally higher Thursday, steadying after the previous session’s sharp losses, but any gains are likely to be limited on increased doubts of early interest rate cuts. 

₹5,000 crore giant with 15-20% growth potential, needs a clearer regulatory framework to flourish," Tushar Bhandari, Whole Time Director, AABL, opined. Also Read | Alco-bev industry in tight spot over shrinking margins as states keep MRP constant: ISWAI's Nita Kapoor The alcobev industry currently faces a challenge where it pays Goods and Services Tax (GST) on the procurement of raw materials, packing materials, and services.

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South Indian Bank surged by 12.5%, reaching a new 52-week high of ₹31.9 apiece, following the release of the bank's Q3FY24 numbers. Notably, the stock surpassed the ₹30 mark for the first time in six years. The bank posted a 197% increase in its standalone net profit to ₹305 crore in Q3FY24 as compared to a net profit of ₹102.75 crore in the same period last year.

The cryptocurrency exchange OKX is set to align with traditional finance standards in the United Kingdom by introducing mandatory risk-awareness questionnaires for its UK users starting January 8, 2024. This move comes as a direct response to the new regulations implemented by the UK Financial Conduct Authority (FCA), reflecting a growing trend towards integrating more stringent measures in the cryptocurrency sector to promote responsible trading and informed decision-making.

The United Kingdom's cryptocurrency landscape is undergoing significant changes as it aligns with the Financial Services and Markets Act. This pivotal development, marking a substantial shift in regulatory approach, aims to apply rigorous standards, akin to those in traditional financial services, to firms operating with cryptocurrencies and stablecoins.

BSE Sensex fell 0.81 percent to 70,918.07, and the NSE Nifty 50 lost 0.91 percent to 21,374.95. "A nosedive correction in banking stocks, along with concerns over delays in US FED rate cuts, impacted market sentiments. The addition of discouraging Chinese growth data and rising US bond yields also resulted in widespread profit-booking.

₹19 month-month (m-o-m) to ₹359 a bag, said an analyst from Nomura Financial Advisory and Securities (India) after interacting with dealers recently. This means healthy prices seen in October and November have failed to sustain as weak demand conditions have led to partial rollbacks. Unseasonal rainfall in Tamil Nadu caused by cyclone Michaung in December end, delayed infrastructure spending by state governments in key markets of Kerala, Telangana and Karnataka and labour unavailability have weighed on the region’s demand growth and consequently, prices.

The Monetary Authority of Singapore (MAS) has made it clear that spot Bitcoin (BTC) ETFs will not be allowed to be listed in Singapore for retail investors.

Swastika Investmart. The Union Budget has always been one of the major trendsetters for the Indian market. Budget day is usually synonymous with market volatility.

Contramoney–The art of gambling: Will Perma Bulls get lucky again this year?. Today, let’s address this question in the context of the current situation. And perhaps draw up some principles on how one can make such decisions in the future.

₹120.15 in morning trade on BSE on Thursday, January 18, extending the losses into the third consecutive session, on lingering concerns over profitability after its cement supply agreement with Ambuja Cements. Ambuja Cements acquired 54.51 per cent of Sanghi Industries.

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INS Vishakhapatnam reportedly responded to a drone attack distress call in the Gulf of Aden. The drone attack distress call was made from Marshall Islands-flagged vessel in the Red Sea.

₹6,103.40 apiece in today's trade. This uptick in shares was in response to the company's strong performance in Q3 FY24. On Wednesday, the company released its Q3 FY24 earnings post market hours, reporting a 69% jump in its consolidated net profit to ₹741 crore.

cryptocurrency tokens were trading lower in Thursday's trade amid expectations that the global rate easing cycle may not come as early as some had initially thought. At 11:33 a.m., BTC was trading 0.2% lower at $42,757, while the second most popular token, Ethereum, was down 1.3% at $2,529. At the same time, the global cryptocurrency market cap declined by 0.63% in the last 24 hours to approximately $1.68 trillion. «The overall crypto market is at $1.68 trillion with Bitcoin and Ether witnessing marginal fluctuation from the previous day. If Bitcoin closes above $43,000 this week, then we may witness a healthy surge in its price in the coming weeks,» said Shivam Thakral, CEO of BuyUcoin. Meanwhile, ZebPay Trade Desk said, «This drop in Bitcoin price coincided with US investors turning towards institutional investment products following the approval of spot ETFs. Long liquidations totaling over $27 million occurred within 24 hours on January 17, with Bitcoin long liquidations accounting for the majority, wiping out $19.5 million.»