TRADE DATA
Market Trading Guide: ITC, Voltas, Data Patterns among 6 top stock recommendations for Friday
Benchmark Sensex and Nifty closed marginally down in a volatile session on Thursday as investors booked profits in heavyweights ahead of the announcement of key financial results for the June quarter. Retreating from early highs, the 30-share BSE Sensex closed lower by 27.43 points or 0.03 per cent at 79,897.34. The NSE Nifty edged down 8.50 points or 0.03% to settle at 24,315.95. "The underlying trend of Nifty remains choppy with positive bias. A sustainable move above 24,500 levels is expected to open the next upside targets of 24,900 levels in the near term. Immediate support is at 24,150," said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities. Here are 6 stock recommendations for Friday:
UK trade body opens review into duties on Indian imports of PET plastics
The UK's Trade Remedies Authority (TRA) is conducting a transition anti-subsidy review on imports of polyethylene terephthalate (PET) plastics from India, evaluating whether the current nearly 13 per cent duties should be maintained. TRA, an independent body under the Department for Business and Trade, will assess the impact on the UK industry and determine if countervailing measures are necessary to address subsidised imports, inviting affected businesses to provide input by July 25.
Tech View: Nifty Put unwinding suggests correction ahead. Here’s how to trade on Thursday
Nifty on Wednesday formed a bearish engulfing pattern on the daily chart as the index ended 109 points lower but sustained above the immediate support of 10-day EMA around 24,180 levels ahead of the Thursday weekly expiry.
GIFT Nifty signals a muted start for D-Street. Here's the trading setup for today's session
Domestic markets closed positively with gains in various sectors like auto, pharma, and PSU banks. The Nifty trend remains positive with immediate support at 24250 levels. Global markets show mixed movements. Dollar strengthens, oil prices rise, and FII/DII data indicates net buying. Rupee slightly gains against the US dollar.
GIFT Nifty signals a negative start for D-Street. Here's the trading setup for today's session
Benchmark indices closed with minor gains, marking a positive week. Analysts expect Q1FY25 earnings and inflation cues to guide markets. Gift Nifty signals a negative start. India VIX fell 1.24%. Mixed global trends; S&P 500 futures down. Rupee at 83.49 vs. USD. Brent crude at $86.65. F&O ban includes PEL, Bandhan Bank. Tropical Storm Beryl impacts oil supply.
Ajay Bagga on Trump's influence and sectoral performance in Indian markets
The Chairman of Elyments Platforms highlights the slowdown in the US economy, noting softer labor markets and slowing wage growth. Despite market expectations of rate cuts in September and December, Fed officials remain cautious, waiting for more data. Bagga also discusses the potential impact of a likely Trump victory in the upcoming elections on global markets, emphasizing increased borrowing costs, lower taxes, and tighter immigration policies.
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Budget 2024: How Sitharaman can steer the trade ship amidst two wars and Red Sea crisis to achieve $2 tn export goal
In the upcoming budget, key priorities for the export sector include boosting e-commerce exports through streamlined policies and infrastructure enhancements. Additionally, there is a push for Production Linked Incentive (PLI) schemes aimed at revitalising sectors such as toys and leather goods, fostering competitiveness and export growth.
GIFT Nifty signals a positive start for D-Street. Here's the trading setup for today's session
Domestic markets showed gains driven by positive sentiment on expectations of a discretionary spending rebound. Investors focus on upcoming US job data and Fed Chair's speech for interest rate insights. Nifty futures trade higher with a positive trend intact. Oil prices remain steady near highs, supported by rising fuel demand outlook. FII and DII actions impact rupee's performance.
Megacaps boost Nasdaq in choppy trade; jobs data in focus
Semiconductor stocks such as Advanced Micro Devices, Arm Holdings and Micron Technology fell between 1% and 4%, pulling the Philadelphia SE Semiconductor index to a near one-week low.
India steel, trade ministries in talks over rising Chinese imports
India's steel and trade ministries are discussing the increasing imports of steel, especially the influx of cheap Chinese goods, according to a government source. The talks come amid ongoing requests from top producers for higher tariffs. India became a net steel importer in the fiscal year ending in March, with finished steel imports reaching a five-year high in April and May, based on provisional government data.
Post tariff hikes: Users could spend Rs 47,500 crore more, trade up data plans
The recent hefty tariff hikes by major Indian telecom companies, Reliance Jio and Bharti Airtel, are expected to significantly increase consumer spending on telecom services, potentially adding Rs 47,500 crore annually. These increases, aimed at boosting 5G monetisation, raise the cost of entry-level 5G plans by up to 71%. Analysts anticipate a 15-17% rise in average revenue per user (ARPU) for Jio and Airtel, driven by up-trading to higher data allowance plans. Despite risks of subscriber churn, the hikes are seen as pivotal for enhancing profitability and investment returns in the telecom sector.
Wall Street ends slightly up, trade choppy ahead of inflation data
Strategic investments like Volkswagen's $5 billion in Rivian signal a shift towards sustainable energy. The market anticipates further developments in the electric vehicle sector. Investors carefully analyze such moves, impacting stock performances and sector trends. The market remains dynamic, responding to key catalysts and economic indicators for future insights.
Oil extends losses as strong dollar weighs on commodities markets
Oil prices fell in early Asian trade on Monday due to a stronger dollar and concerns of higher interest rates. Brent crude futures slid to $84.84 a barrel, while U.S. West Texas Intermediate crude futures were at $80.34. Geopolitical risks in the Middle East and issues in Ecuador impacted prices.
Commerce min engaging with different departments on India, Korea FTA upgrade talks: Official
India and Korea are progressing with talks to upgrade their existing free trade agreement (FTA), known as the Comprehensive Economic Partnership Agreement (CEPA). The Department of Commerce is collaborating with various ministries such as heavy industries, steel, and chemicals to prepare the offer list for the negotiations.
India's exports grew 1.1%, but trade momentum to continue: CRISIL
India's merchandise exports rose by 9.1% to USD 38.1 billion in May compared to last year, with a modest 1.1% increase from April, driven by both oil and non-oil sectors. Imports surged by 7.7% to USD 61.2 billion, mainly due to oil and core imports, widening the trade deficit to USD 23.8 billion.
TRADERS’ CORNER: A railway stock gets ready for an 11% upmove, while a defence stock is not behind with 9% swing trade
All the old boys are back into momentum territory
Market Trading Guide: Data Patterns, Power Grid among 5 stock recommendations for Wednesday
Benchmark equity indices stayed on the record-breaking run powered by a rally in index majors ICICI Bank, HDFC Bank and Infosys. In a range-bound session, Sensex and Nifty settled at their new closing all-time high levels amid intense demand for realty, consumer durable and utility stocks. Rising for the third straight session, the 30-share BSE Sensex climbed 308.37 points or 0.40% to settle at a new closing peak of 77,301.14. The NSE Nifty went up by 92.30 points or 0.39% to hit a record closing high of 23,557.90 for the fourth straight session. "The short-term trend of Nifty continues to be positive with range- bound action. Having sustained above the hurdle of 23,515 levels (1.382% Fibonacci extension), one may expect Nifty to move towards the next resistance of 1.786% Fib extension at 23950 levels in the near term. Immediate support is placed at 23450," said Nagaraj Shetti of HDFC Securities. Here are 5 stock recommendations for Wednesday:
India's May outbound shipments at 3-month high; trade gap at 7-month record
Terming May as an “excellent” month for exports, commerce secretary Sunil Barthwal said that the situation was looking more optimistic for trade this year, with even sectors such as textiles recording healthy growth after months of sluggishness.
India's trade deficit in May widens to $23.78 billion; exports rise 9%
India's trade deficit widened to $23.78 billion, falling short of economists' $19.5 billion projection, per a Reuters poll. May saw a 9% increase in merchandise exports to $38.13 billion, driven by engineering goods, commercial vehicles, and smartphones. Merchandise imports surged by 7.7% year-on-year to $61.91 billion. Analysts expect exports to rebound, aided by global trade recovery, manufacturing incentives, and domestic inflation easing.
China stocks slip on mild inflation data, trade worries
China stocks slipped as consumer prices remained soft. The dollar held firm ahead of key U.S. inflation report. Market indices like Shanghai Composite and CSI300 were slightly down. MSCI's Asia ex-Japan stock index showed slight gains. Hang Seng Index and Shenzhen index were down, impacting market performance.
Data hints at bullish setup, Nifty headed for 23,560 & 23,890: Experts
Nifty's bullish setup is supported by strong technical indicators, with recommendations for specific stocks in FMCG, pharma, IT, auto, and power sectors for potential gains.
Explainer: Why the few big AI players worry US antitrust regulators
U.S. antitrust enforcers are investigating Big Tech's impact on the AI sector, looking into potential competition issues. Key concerns include data access advantages, impact on workers, and partnerships with Big Tech firms.
China's exports grow 7.6% in May, beating expectations despite trade tensions
In May, China's exports surged by 7.6% year-on-year to $302.35 billion, surpassing expectations, despite ongoing trade tensions. Imports, however, grew only by 1.8%, missing forecasts of 4% growth. This led to a widened trade surplus of $82.62 billion. The rise in exports is partly due to a low base from last year.
Has Google breached privacy, collected children's voices, license plate details and more?
Google is currently amid a new wave of controversy as a recent privacy breach leak has claimed that it collected the voices of children, license plate numbers as well as home addresses, all of which are immensely private data for individuals.
India in trade deficit with nine of top 10 trading partners in 2023-24
The trade deficit with China rose to USD 85 billion, Russia to USD 57.2 billion, Korea to USD 14.71 billion and Hong Kong to USD 12.2 billion in 2023-24 against USD 83.2 billion, USD 43 billion, USD 14.57 billion and USD 8.38 billion, respectively, in 2022-23.
Higher gold imports, low exports weigh as India's trade deficit widens to $19.1 billion
India's merchandise trade deficit widened to $19.1 billion in April, surpassing a Reuters poll estimate of $17.23 billion. March saw a deficit narrowing to an 11-month low of $15.6 billion. Exports marginally rose by 1.06% to $34.99 billion, while imports surged 10.3% to $54.09 billion. Oil imports amounted to $16.46 billion. Gold imports doubled to $3.11 billion.
Indian exports up in 115 nations out of 238 destinations in 2023-24
Despite global economic uncertainties, India's exports increased to 115 countries out of 238 destinations in 2023-24. The merchandise exports slightly declined by 3% to USD 437.1 billion, while services exports rose to USD 341.1 billion. Overall exports (goods and services) reached USD 778.2 billion. India's rank in world merchandise exporters improved from 19th to 17th, with a marginal increase in share from 1.70% in 2014 to 1.82% in 2023.
India, Australia review progress on trade and investment negotiations, discuss way forward for its completion
In the first Joint Committee Meeting (JCM) under India-Australia Economic Co-operation and Trade Agreement (Ind-Aus ECTA), both sides acknowledged the smooth implementation of the ECTA and briefly elaborated on ECTA implementation issues including MRAs on organic products, market access issues related to products like okra, pomegranate, grapes, cottage cheese, macadamia nuts, lentils and avocado.
India’s exports declined 0.7% in March; trade deficit at an 11-month low
For the full year, the trade deficit, at $240 billion, was 9.3% lower than the previous year. Exports tumbled 3.1%, as geopolitical tensions continued to plague trade. Imports during this period were down 5.4% from FY23.
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