Trade Financial News

Varun Beverages Ltd. traded 1.4 per cent up at Rs 1231.4 at around 01:12PM (IST) on Thursday. The stock had closed at Rs 1248.9 in the previous session.

Siemens Ltd. traded at Rs 4051.95 on BSE at 01:06PM (IST) on Thursday, down 1.37 per cent from previous close. The stock quoted a 52-week low price of Rs 2811.95 and a high of Rs 4244.55.

Info Edge (India) Ltd. fell 1.4 per cent to Rs 5097.65 at 12:56PM hours (IST) on Thursday. Earlier in the day, the stock saw a gap down start to the session.

Taiwan's TSMC will formally open its new chipmaking foundry on Japan's Kyushu island on February 24, its chairman said Thursday, which is part of their plan to expand its global manufacturing footprint. Taiwan Semiconductor Manufacturing Company — whose clients include Apple and Nvidia — controls more than half the world's output of silicon wafers, used in everything from smartphones to cars and missiles.

In today’s financial landscape, the Bitcoin price prediction becomes increasingly significant as BTC trades at $42,700, marking a 0.75% decrease on Thursday. This trend occurs amidst a surge in market activity, highlighted by nearly $1 billion inflows into Bitcoin ETFs over just three days. Additionally, external factors such as the severe cold in Texas have led to a notable 34% drop in Bitcoin’s hash rate, reflecting the cryptocurrency’s sensitivity to real-world events.

Bharat Electronics Ltd. rose 0.32 per cent to Rs 186.3 in Thursday's trade as of 12:40PM (IST) even as the benchmark Nifty ruled at 21480.0, down 91.96 points. The scrip had closed at Rs 185.7 in the previous session.

United Spirits Ltd. traded at Rs 1072.0 on BSE at 12:46PM (IST) on Thursday, down 2.14 per cent from previous close. The scrip quoted a 52-week low price of Rs 730.9 and a high of Rs 1125.0.

Pidilite Industries Ltd. traded 1.63 per cent down at Rs 2715.2 at 12:35PM (IST) on Thursday, even as BSE benchmark Sensex dropped 259.38 points to 71241.38. The stock had closed at Rs 2760.3 in the previous session.

Vedanta Ltd. traded 0.73 per cent higher in Thursday's session at 12:30PM (IST). The stock opened at Rs 265.15 and has touched an intraday high and low of Rs 268.35 and Rs 258.0, respectively, during the session so far.

Bajaj Holdings & Investment Ltd. fell 1.81 per cent to Rs 7938.45 in Thursday's session as of 11:59AM (IST) even as the equity benchmark Sensex traded 181.25 points lower at 71319.51. Earlier in the day, the stock witnessed a gap down start to the session.

Lupin Ltd. rose 0.93 per cent to Rs 1413.25 at 12:04PM hours (IST) on Thursday. Earlier in the day, the stock saw a gap down start to the session.

ACC Ltd. fell 0.53 per cent to Rs 2240.8 at 11:54AM hours (IST) on Thursday. Earlier in the day, the stock saw a gap down start to the session.

ICICI Prudential Life Insurance Company tanked over 10% on Thursday to the day's low of Rs 463.45 in Thursday's trade on the NSE as the Street was unimpressed by the company's December quarter earnings which saw a 3% increase in net profit to Rs 227 crore versus Rs 220 crore reported in the year-ago period. Net premium income was up 5% year-on-year (YoY) to Rs 9,928 crore mainly due to growth in first-year premium. Today's action in the stock of ICICI Prudential takes the declining trend to six sessions in a row while extending the price erosion to over 14% during this period. More than one crore shares changed hands on the NSE around 11 am triggering the selling pressure. For the nine months, the annualised premium equivalent, a measure of life insurance business computed as a sum of annualised first-year premium and 10% of single premiums, grew by 1.7% to Rs 5,430 crore. The company saw an increase in expenses, especially commissions, which resulted in the expense management ratio moving up to 18.3% during the quarter from 14.7% a year ago. Commissions paid including rewards and compensation to agents, brokers and intermediaries increased to Rs 1,000 crore during the quarter from Rs 391 crore in the year-ago period. The company's solvency ratio fell to 196% from 212%. Persistency or the number of policies saw some improvement.

Investing.com-- Gold prices rose slightly on Thursday, steadying from a sharp tumble this week as strong U.S. data spurred increasing doubts over early interest rate cuts by the Federal Reserve.

Q3 results today: Amid high volatility on Dalal Street, bulls are expecting Q3 results 2024 to provide some support to the buyers as most of the analysts are recommending stock specific approach in the current market scenario. For such investors who believe in stock stock-specific approach, a total of 22 listed companies are going to declare their respective Q3 results today. Those 22 listed companies include IndusInd Bank, Polycab India, Tata Communications, Poonawalla Fincorp, Metro Brands, Finolex Industries, Mastek, South Indian Bank, etc.

Investing.com-- Most Asian currencies moved little on Thursday after clocking steep losses in the prior session, while the dollar fell slightly from a one-month high as strong U.S. retail sales data spurred more doubts over early rate cuts by the Federal Reserve.

Investing.com-- Most Asian stocks kept to a tight range on Thursday as strong U.S. data further dented bets on early interest rate cuts by the Federal Reserve, while a rout in Chinese shares worsened in the wake of disappointing GDP readings.

Investing.com-- Oil prices rose slightly in Asian trade on Thursday as severe cold weather appeared to have spurred some disruptions in U.S. production, while military action in the Middle East raged on.

ICICI Prudential Life Insurance share price cracked almost 10 per cent in early trade on BSE on Thursday, January 18, a day after the company announced its December quarter (Q3FY24) earnings. ICICI Prudential Life Insurance share price opened at ₹464.90 against the previous close of ₹515 and soon plunged to hit its 10 per cent lower circuit of ₹463.50. ICICI Prudential share price traded 7.52 per cent lower at ₹476.25 around 9:40 am.

Anand Tandon, Independent Market Analyst, says “Even if you had assumed that before this fall there was only a 10% upside, now there is a 15% to 17% upside. So, there is no particular reason that one should not be looking to buy in now, especially if you have a bullish view. Of course, if you are sceptical about the market, that is a different point of view altogether, but I would still think that a bank like HDFC Bank should be part of your core portfolio and there is not much that you can do other than to trade off at the margin. What to do with HDFC Bank now with the weakness that the stock is seeing? Anand Tandon: We are looking at an issue where the deposit growth is slower than what the market was anticipating and more importantly, it means that the credit growth, which is actually doing quite well, has to be slowed down a bit. But on the other hand, the extra capital that they have had to keep is now peaked out and therefore they will start to come down. The fall that they had already predicted, which had been forecast by the management that the ROE will have to fall by at least 50 basis points, has already started to play out. So, while it may take a little while longer for it to go back to a sensible growth number, I would still argue that you will get a reasonable double-digit growth from HDFC Bank going forward and this kind of fall, we keep hearing there is a lot of money on the sideline.

Aditya Birla Fashion and Retail (ABFRL), Ashok Leyland, Bandhan Bank, Chambal Fertilizers & Chemicals, Delta Corp, Hindustan Copper, Indian Energy Exchange (IEX), Metropolis Healthcare, National Aluminium Company, Polycab India, PVR Inox, Steel Authority of India (SAIL) and Zee Entertainment Enterprises (ZEEL). Biocon, The India Cements, Indus Towers, and Piramal Enterprises have moved out of the ban. The F&O contracts of any stock enter the ban period when the open interest (OI) on it crosses 95% of the market wide positions limits or MWPL. The ban on it is reversed only if the open interest falls below 80%. Traders who trade in indices do not encounter a situation of security ban.