Week Financial News

₹519.80 apiece on BSE. Kalyani Steels stock price touched an intraday high of ₹576.25 and an intraday low of ₹550.20.

Benchmark NSE Nifty closed 73.86 points up at 21618.7 amid buying in frontline bluechip counters. However, stocks such as Astec Lifesc, Raj Rayon, Happy Forgings, Gandhar Oil Refinery and IndInfravit Trust, touched their fresh 52-week lows.

₹1,069 on Wednesday's trading session, spurred by an upgrade from BofA Securities to a "neutral" rating. The accompanying increase in the target price was driven by anticipations of a forthcoming tariff hike. The broking firm raised the target price of the telecom major to ₹1,145, an upside of 7% from the current levels.

HCL Technologies rose over 3% to Rs 1,507.2 in Wednesday trade on BSE ahead of its third-quarter results due on Friday, January 12. Meanwhile, a total of 25,75,833 equity shares worth Rs 383.6 crore also changed hands in Wednesday's trade. At 12:05 pm, the scrip was trading 2% higher at Rs 1,490 on BSE. The stock has also surged 33% in the past six months, while it has rallied 40% in the last year. In Q2 FY24, HCL Technologies reported 10% growth in its consolidated net profit at Rs 3,832 crore. The same stood at Rs 3,489 crore in the last year period. Its revenue from operations during the period rose 8% to Rs 26,672 crore against Rs 24,686 crore in the same period last year. In Q2, in constant currency terms, revenue was up 1% sequentially and 3% year-on-year (YoY). Segment-wise, services revenue rose 3% (CC), while digital revenue was up 4%. Here's what brokerages expect from HCL Technologies' Q3 results:

Infibeam Avenues share price jumped over 6% to touch a 52-week high following the announcement that it had inked a ₹2,000 crore Memorandum of Understanding (MOU) with the Gujarat government at the Vibrant Gujarat Global Summit 2024. Infibeam Avenues share price today opened at ₹24.38 apiece on BSE.

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Investing.com-- Most Asian currencies kept to a tight range on Tuesday, but saw some relief as the dollar was hit with profit-taking before key inflation data that is set to offer more cues on interest rate cuts this year.

A series of high-stakes deadlines this week will mark the culmination of a years-long push to launch exchange-traded funds backed by bitcoin in the U.S.

Flights have resumed on a repaired runway at Tokyo’s Haneda airport a week after a collision between a Japan Airlines plane and a coast guard aircraft

Digital assets investment funds recorded $151 million in inflows in the first week of 2024 as institutional investors drive adoption following anticipation of a spot Bitcoin (BTC) ETF approval by the Securities and Exchange Commission (SEC).

Multiple applicants for a spot Bitcoin exchange-traded fund (ETF) submitted their final Form S-1 amendments to the United States Securities and Exchange Commission (SEC) on Monday, setting the stage for a potentially historic week in the cryptocurrency market.

₹3,560 per share in intraday trading on January 8. This surge was prompted by the brokerage firm UBS assigning a 'buy' rating to the stock, accompanied by an upward revision of the target price from ₹3,600 to ₹4,400. This adjustment implies a potential upside of 23 percent from the current levels.

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This week will be another in-focus week, with the CPI and PPI reports coming toward the week’s end.

This week marks a potentially transformative moment for cryptocurrency as the U.S. Securities and Exchange Commission (SEC) is expected to make a key decision on the approval of several spot Bitcoin exchange-traded funds (ETFs).

Bitcoin in the US. Would-be Bitcoin ETF issuers have been given until Monday morning in Washington to submit any last-minute revisions to their pending applications, Bloomberg News has reported. The US Securities and Exchange Commission itself has until Jan. 10 to take action on at least one of those applications, and crypto insiders have speculated the regulator will use that date to announce a slew of decisions at once. There are two technical requirements that must be fulfilled before a spot-backed Bitcoin ETF can start trading. First, the SEC must sign off on so-called 19b-4 filings by the exchanges that would list the ETFs. Second, the regulator must approve the relevant S-1 forms, which are the registration applications from the would-be issuers — a list that includes BlackRock and Fidelity. The SEC is planning to vote on the exchanges’ filings, the 19b-4s, in the coming days, Bloomberg News has reported. The regulator may or may not then take action on the issuers’ applications, the S-1s, around the same time. If the SEC grants both sets of required approvals, the ETFs could start trading as soon as the next business day.

After closing 2023 on a high, the Indian equity market saw a slow start to 2024. In the week that ended 5 January, the benchmark Nifty 50 index was down 0.1% week-on-week in local-currency terms.

GMR Airports Infrastructure share price jumped over 4% to touch a 52-week high on Monday's session in response to few news developments. According to an exchange filing, the company stated that Delhi International Airports Limited (DAIL), a step-down subsidiary, has been exempted from paying the Monthly Annual Fee (or MAF) for the period of March 19, 2020, to February 28, 2022, after the arbitral tribunal passed its decision on January 6.

₹640 on the weekly chart, supported by a strong bullish candle, indicating a positive bias. The stock rebounded to ₹695, experienced a throwback to the breakout zone, and subsequently rallied beyond the swing high of ₹695, signalling the continuation of the uptrend. It is followed by a rising channel formation since mid-April 2023, suggesting a medium-term uptrend.

Here is your Pro Recap of the top takeaways from Wall Street analysts for the past week: upgrades for Verizon and GM; downgrades for Apple and PayPal.

U.S. stocks closed slightly higher on Friday to wrap up the first trading week of 2024, however the major averages suffered their first weekly decline in ten weeks amid growing uncertainty over when the Federal Reserve may begin to cut interest rates.