Week Financial News

Tata Steel share price touched a new 52-week high on Monday's trading session, following the announcement of a joint agreement between the company and the UK government on a proposal to invest in cutting-edge Electric Arc Furnace steelmaking at the Port Talbot site with a capital cost of £1.25 billion, inclusive of a grant from the UK Government of up to £500 million. Tata Steel stock price touched intraday high of ₹134.85 and low of ₹131.85.

Benchmark NSE Nifty index fell 11.55 points to 20180.8 amid selling in frontline bluechip stocks. However, stocks such as J B Chemicals, Setubandhan Infra, Penta Gold, Sri Adhikari and Ratnaveer Precision, touched their fresh 52-week low. Overall, 27 shares traded in the green in Nifty50 index, while 23 traded in the red. In the Nifty 50 index, M&M, HDFC Life, Bajaj Auto, Titan Company and Hero MotoCorp were among top gainers, while Infosys, Hindalco, Tech Mahindra, HDFC Bank and Wipro traded in the red. The BSE Sensex was trading 93.55 points down at 67745.08 at 10:39AM(IST). Traders were seen piling up positions in Telecommunications, Glass, Holding Company, Defence and Auto sectors, while selling was visible in Banks, Irrigation & Allied Services, Power, Trading and Petrochemicals sectors.

Domestic benchmark index NSE Nifty fell 17.0 points to 20175.35, while the BSE Sensex traded 113.27 points down at 67725.36. On the other hand, KIOCL, IOB, UCO Bank, Punjab Sind Bank and GMR Power and Urban stocks hit their fresh 52-week highs today. In the Nifty 50 index, M&M, HDFC Life, Bajaj Auto, Titan Company and BPCL were among the top gainers on the NSE. Infosys, HDFC Bank, Wipro, Hindalco and Tech Mahindra were among the top losers.

Nifty traded in the negative territory in morning trade on Monday, mirroring weakness in other major Asian peers as investors exhibited caution as they prepared for a week marked by a series of central bank meetings with Fed meet outcome due on Wednesday, Bank of England (BoE) meet outlook on Thursday and Bank of Japan (BoJ) outcome due on Friday. Markets across the globe are expecting that the rate hikes have peaked and central banks will not lift rates from here on. However, inflation still remains above the central banks' targets in many countries.

World Trade Organization in Geneva early this week was unambiguous: A global economy split into rival trading factions would reduce real incomes 5% — maybe double that amount in poor countries. The next day, the European Union launched what some of the 27-nation bloc’s most well-known industries — ranging from Airbus SE to cosmetic producers and wine makers — worry could land them on the punishing end of a trade war with China. Since the European Commission’s announcement Wednesday of a new anti-subsidy inquiry into Chinese electric vehicles, which might lead to duties on Made-in-China EV imports, European businesses are scrambling to assess their exposure to a potential tariff barrage between two of the world’s largest economies. That’s because President Xi Jinping’s government has shown a determination to respond to punitive trade measures — like former US President Donald Trump’s tariffs — with its own reciprocal restrictions. The most powerful tool Beijing can wield is restricting access to its huge domestic market. French Finance Minister Bruno Le Maire, speaking to Bloomberg Television on Friday, signaled that perhaps a new era has arrived, one where “the EU starts thinking about its own interest.”‘Powerful Signal’ With the Chinese subsidy investigation, Brussels “wanted to send a powerful signal,” former EU Trade Commissioner Cecilia Malmstrom told Bloomberg News in an interview.

By Stella Qiu

Investing.com — Here is your weekly Pro Recap of the past week's biggest headlines in the electric vehicle space: BMW electrifies Mini; Tesla on the cusp of a breakthrough; and UAW strikes back.

Derna, sweeping thousands to their deaths, the international aid effort gained pace on Sunday to help the grieving survivors. Search-and-rescue teams wearing face masks and protective suits kept up the grim search for any survivors who may still be trapped in the mud-caked wasteland of smashed buildings, crushed cars and uprooted trees. Traumatised residents, 30,000 of whom are now homeless in Derna alone, are in dire need of clean water, food, shelter and basic supplies amid a growing risk of cholera, diarrhoea, dehydration and malnutrition, UN agencies warn. «In this city, every single family has been affected,» said one resident, Mohammad al-Dawali. Seir Mohammed Seir, a member of the security forces, spoke of a three-month-old girl who lived through the tragedy: «Her entire family died, she was the only one who survived.» Emergency response teams and relief goods have been deployed from France, Iran, Malta, Russia, Tunisia, Turkey and the United Arab Emirates, with more on the way from multiple other European and Arab nations. The aid effort has been hampered by the political division of Libya, which was thrown into war and chaos after a 2011 NATO-backed uprising led to the overthrow and killing of veteran dictator Moamer Kadhafi. The oil-rich North African country now remains split between two rival governments — a UN-backed administration in the capital Tripoli, and one based in the disaster-hit east. Amid the chaos, the true death toll remained unknown, with untold numbers feared swept into the sea. The health minister of the eastern administration, Othman Abdeljalil, has said that 3,252 people were confirmed dead in Derna, where corpses wrapped in blankets and in body bags have lined squares and streets. The UN

IPOs This Week: The primary market witnessed some major listings in both main board and small- and medium-sized enterprise (SME) segments last month, which kept investors engaged with subscriptions and listings. Moving on, the upcoming week sees strong market buzz for September, which is similarly packed with new listings and initial public offering (IPO) issues, that are available for subscription. Last week, two mainboard IPOs - Rishabh Instruments Limited and Ratnaveer Precision Engineering listed raising a total of ₹655.8 crore.

Bitcoin (BTC) circled $26,500 into the Sep. 17 weekly close after new September highs gave way to calmer conditions.

ITI, a central PSU under the ministry of communications, had a dream run over the past week with a stellar rally of nearly 60% in just five days. The main trigger was that the company has developed its own branded Laptop and Micro PC in the market that matches international quality and performance. Branded as ‘SMAASH’, the products have already been deployed in the market, and ITI has won many tenders competing against MNC brands like Acer, HP, Dell and Lenovo. The two flagship products — Laptop and Micro PC have been designed in association with Intel Corp with which an MOU has been signed for design and manufacturing. In the last six months, the stock has delivered multibagger returns to investors, rising 116%. The price has also hit a fresh 52-week high during the last week. Technical analysts say while existing investors might want to sit on gains and wait for more upside, but at the same time can book partial profits. «Investors who are still holding stocks like ITI, and SJVN, which have seen good run, might consider taking a partial profits on their investments and can trail the balance,» said Aamar Deo Singh of Angel One. «The daily chart shows a vertical up move from 149 to 213 level, almost a 57% up move.

Nifty and Bank Nifty, it seems likely that bears will think twice before confronting the bulls head-on, says Aamar Deo Singh, Head Advisory at Angel One. This is because the majority of broad-based technical indicators, such as the Advance-Decline Ratio, all-time high stock prices, and 84% of stocks that are trading above their 200-Day Moving Average, all indicate a rally that will span multiple sectors.What are your thoughts on Sensex and Nifty's current run in this series? Where do you see them this Friday?The Indian stock market's incredible surge continued to gain steam last week and doesn't seem to be slowing down. The Nifty finished the week with weekly gains of 1.88%, and a record high of 20,192, while Bank Nifty, not to be outdone, finished the week with weekly gains of 2.38%, just shy of its all-time high of 46,369 in July. Also, remaining in the 10–12 area was the India VIX, which represents investors' comfort and confidence.

Sensex and Nifty50 ended the week on strong footing hitting new all-time highs with PSU Banks, auto and IT stocks leading the gains. Amid a host of important domestic and global events lined up during this week.

climate change challenges. Read more. On September 10, the Indian Space Research Organisation (ISRO) announced that Aditya-L1, India's pioneering solar mission, had triumphantly executed its third Earth-bound manoeuvre.

US Federal Reserve policy meeting outcome, foreign fund inflow, crude oil prices, global cues, and more. Domestic benchmark indices Sensex and Nifty hit their fresh record highs last week with frontline index Nifty50 breaching the psychological 20,000-mark on the back of strong macroeconomic indicators such as lower consumer price index (CPI) print, demand optimism in China, and hints of a pause in rate hike by the US Federal Reserve. The tone was positive from the beginning which strengthened further with rotational participation from the index majors across sectors.

Dividend Stocks: Shares of several companies including Steel Authority of India (SAIL), Mazagon Dock Shipbuilders, Rail Vikas Nigam Limited (RVNL), Mastek Ltd, among several others will trade ex-dividend in the coming week, starting from Monday, September 18. The ex-dividend date is the day on which the equity share price adjusts to reflect the next dividend payout. It is the day the stock becomes ex-dividend, which means it does not carry the value of its next dividend payment from that day forward.

Restaurant Brands Asia - previously known as Burger King India, witnessed high stock movement on Friday, September 15 as eight investors picked nearly 24 per cent equity stake in the company after the promoter QSR Asia offloaded more than 25 per cent shareholding through an open market transactions. Shares of Restaurant Brands Asia climbed as high as 6.7 per cent during Friday's trading session and hit a fresh 52-week high at ₹137.85 apiece.

college football season delivered some exciting upsets and thrilling matchups. As we dive into Week 3, the schedule might not appear as thrilling on paper, with no ranked vs. ranked games scheduled.

Don't ever fight liquidity, but also don't ignore valuations. In another few weeks, the second quarter earning season will start.

Buy or sell stocks: On account of strong global market sentiments after better-than-expected Chinese economic data, Indian stock market ended in green terriroty for third straight session. NSE Nifty ended at record close of 20,192 levels after climbing to a new life-time high of 20,222 during Friday deals. BSE Sensex too had a record closing at 67,838 levels after climbing to a new peak of 67,927 mark.

L&T buyback: The engineering and infrastructure coglomerate Larsen & Turbo (L&T) has declared buyback of shares that will open on 18th September 2023 i.e. on Monday next week.