Page 1253 - Business Finance
Benchmarks come off day's low; IT shares advance
Key equity benchmarks bounced back after hitting fresh intraday low in mid-morning trade. At 11:20 IST, the barometer index, the S&P BSE Sensex, was down 5.62 points or 0.02% at 36,439.02. The Nifty 50 index was up 2.85 points or 0.03% at 10,925.60.
Walchandnagar Inds gains after entering in contract with VSSC
Walchandnagar Industries rose 3.99% to Rs 99.10 at 11:30 IST on BSE after the company and Vikram Sarabhai Space Centre entered into a contract for the Polar Satellite Launch Vehicle program.
Global Markets: Asian shares pause amid concerns over growth and trade
TOKYO (Reuters) - Asian stocks trod water on Wednesday as concerns over the outlook for global economic growth and the ongoing Sino-U.S. trade war kept investors away from riskier assets.
Subaru faces profit hit as Japan car output halted over part defect
TOKYO (Reuters) - Subaru Corp said its sole car factory in Japan accounting for roughly 60 percent of global production could be out of action for almost two weeks after it discovered a suspected defect in a power-steering component.
Corrected: China says will step up fiscal spending this year to support economy
BEIJING (Reuters) - China will step up fiscal spending this year to support its economy, focusing on further cuts in taxes and fees for small firms, finance ministry officials said on Wednesday.
Walchandnagar Industries bags contract from ISRO's Vikram Sarabhai Space Centre
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Volumes spurt at Supreme Industries Ltd counter
Supreme Industries Ltd notched up volume of 2.7 lakh shares by 10:48 IST on BSE, a 82.11 fold spurt over two-week average daily volume of 3284 shares
Zinc goes up 0.48% in future trade on spot demand
Zinc prices were higher by 0.48 per cent to Rs 186.80 per kg in futures trade Wednesday as speculators built up fresh positions, taking positive cues from spot market on rising demand. At the Multi Commodity Exchange, zinc for delivery in the current month traded 90 paise, or 0.48 per cent, higher at Rs 186.80 per kg in business turnover of 836 lots. Marketmen said fresh positions built up by participants due to pick up in demand in the domestic spot market, led to the rise in zinc futures.
Silver rises Rs 24 on firm global cues
Tracking a firm global trend, silver prices rose Rs 24 at Rs 39,096 per kg in futures trade Wednesday as speculators engaged in raising bets. At the Multi Commodity Exchange, silver for delivery in far-month March contracts was trading higher by Rs 24, or 0.06 per cent, to Rs 39,096per kg in business turnover of 630 lots. The white metal for delivery in February rose by Rs 18, or 0.05 per cent, to Rs 39,120 per kg in 922 lots. Analysts said participants raised bets amid a firm trend overseas as the weakness in the dollar boosted demand for the precious metals as a safe-haven. In the international market, silver rose 0.16 per cent to USD 15.43 an ounce in New York.
Markets open flat, more corporate results likely to infuse confidence
Equities opened flat on Wednesday with the BSE Sensex down 1.55 points at 36,43042.80.At 10:00 hrs, the Nifty was up 6 points or 0.05 per cent at 10,929.75.Market experts said the focus during the day will be on Q3 results with several companies announcing their numbers.Meanwhile, Asian indices opened in the red with the Japanese Nikkei trading down over 100 points. In China, traders await a stimulus as the government gets aggressive in reviving growth.Corporate earnings are going to be catalyst as trade talks are now getting discounted by the markets.
Gold futures slide 0.12 pc on weak global cues
Gold prices dipped by 0.12 per cent to Rs 32,120 per 10 grams in futures trade Wednesday as speculators reduced exposure, driven by weak trend overseas. At the Multi Commodity Exchange, gold for delivery in February fell by Rs 40, or 0.12 per cent, to Rs 32,120 per ten grams in a business turnover of 398 lots. Analysts said off-loading of positions by participants to book profits and a weak trend in global markets, mainly influenced gold prices at futures trade here. Gold prices fell 0.11 per cent to USD 1,284.30 an ounce in New York.
Lead futures gain 0.24% on spot demand
Amid pick up in demand from consuming industries in the spot market, lead prices rose 0.24 per cent to Rs 143.65 per kg in futures trade on Wednesday as speculators built up fresh positions. Furthermore, firmness in select base metals in global markets supported the rise in metal prices. In futures trading at the Multi Commodity Exchange, lead for delivery in January rose 35 paise, or 0.24 per cent, to Rs 143.65 per kg, in a business turnover of 737 lots. Market analysts said fresh positions created by traders amid upsurge in demand from battery-makers in the spot market and positive global cues supported the upside in lead prices here.
Nickel futures rise on pick up in demand, overseas cues
Nickel prices rose 0.35 per cent to Rs 826.30 per kg in futures trade Wednesday as speculators widened bets, driven by pick-up in demand in the domestic spot market. Besides, a firm trend overseas supported the upside. At the Multi Commodity Exchange, nickel for delivery in the January was trading higher by Rs 2.90, or 0.35 per cent, to Rs 826.30 per kg in business turnover of 1,285 lots. Analysts attributed rise in nickel futures to raising of positions by traders due to pick up in demand from alloy- makers in the spot market.
Positive market breadth
Key equity indices were trading with small losses in morning trade. At 10:30 IST, the barometer index, the S&P BSE Sensex, was down 27.01 points or 0.07% at 36,417.63. The Nifty 50 index was down 2.05 points or 0.02% at 10,920.70.
India to leave behind US in terms of steel consumption this year: Chaudhary Birender Singh
Government to increase the budgetary allocation for facilitating R&D
BOJ cuts inflation view, keeps stimulus as risks to economy heighten
TOKYO (Reuters) - The Bank of Japan cut its inflation forecasts on Wednesday and warned of rising risks to the economy from faltering global demand, further pushing back policymakers' years-long efforts to foster durable growth.
Singapore Dec inflation rate rises more than expected
SINGAPORE (Reuters) - Singapore's headline and core consumer price indexes rose more than expected in December from a year earlier on the back of higher costs of services and retail items, data showed on Wednesday.
Pompeo hints optimism as US, North Korea end talks in Sweden
US Secretary of State Mike Pompeo has hinted that a series of discussions held between American and North Korean representatives in Sweden has been fruitful and furthered progress made by the two nations.
Australia Market extends losses on growth worries, trade tensions
Investors risk sentiments remain subdued on reports that the U.S. had cancelled a trade meeting with Chinese officials. White House economic advisor Larry Kudlow, however, denied that report, telling that there was never a planned meeting other than the scheduled visit by Chinese Vice Premier Liu He next week. The U.S. and China are aiming to strike a deal to break their trade impasse before March 1. The two economic powerhouses have been locked in an ongoing trade war since 2018 which has seen both sides slap billions of dollars worth of tariffs on each other's goods.
Kellton Tech Solutions Ltd Slips 4.91%
Kellton Tech Solutions Ltd has added 19.33% over last one month compared to 5.38% gain in S&P BSE IT Sector index and 2.8% rise in the SENSEX