Page 1331 - Business Finance
Sensex rallies over 300 pts; Nifty reclaims 10,800 mark
The BSE benchmark Sensex Tuesday rallied over 300 points tracking positive cues from other Asian markets amid heavy buying by domestic institutional investors. Market sentiment was also upbeat after government data revealed that retail inflation dropped to an 18-month low of 2.19 per cent in December 2018, creating headroom for the RBI to cut interest rate in its monetary policy review next month. The 30-share index Jumped 328.44 points, or 0.92 per cent, to 36,182 in early trade. Similarly, the NSE Nifty reclaimed the 10,800 mark by rising 93.65 points, or 0.87 per cent, to 10,831.25. On Monday, after a volatile session, the Sensex had settled 156.28 points, or 0.43 per cent, down at 35,853.56, while the Nifty fell 57.35 points, or 0.53 per cent, to finish at 10,737.60. In morning session on Tuesday, the biggest gainers in the Sensex pack were Yes Bank, Reliance, Infosys, Bajaj Auto, Asian Paints, ONGC, Bajaj Finance, SBI and TCS, surging up to 2 per cent. While, Bharti Airtel was ...
Market opens on a firm note
Domestic stocks opened on a firm note on positive Asian stocks. At 9:28 IST, the barometer index, the S&P BSE Sensex, was up 283.50 points or 0.79% at 36,137.06. The Nifty 50 index was up 84.70 points or 0.79% at 10,822.30. The Sensex regained the psychological 36,000 level in early trade.
India to become 'hub' for videogames, compete on VFX: UNCTAD
India is expected to become the global hub for videogame development with its world-class game developers, according to the UN agency dealing with trade.
United Spirits to divest its entire stake in subsidiary - Four Seasons Wines
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Ivanka Trump to help US search new World Bank President: White House
President Donald Trump's eldest daughter and senior advisor Ivanka will help the US to pick the new World Bank president, the White House has said, dismissing media reports that she herself is a key contender for the top position. World Bank's current president Jim Yong Kim announced last week that he will step down next month, triggering speculation about his replacement. The Financial Times reported on Sunday that former US Ambassador to the UN Nikki Haley in addition to Ivanka were the possible candidates for the top job. However, the White House refuted media reports that the daughter of the US President herself was under consideration for the bank's presidency. Treasury Secretary Steven Mnuchin and Acting Chief of Staff Mick Mulvaney has asked Ivanka to "help manage the US nomination process as she's worked closely with the World Bank's leadership for the past two years - however, reports that she is under consideration are false," White House Deputy Director of Communication ...
Stocks may open in positive zone
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 20 points at the opening bell.
Wipro will be watched as board to mull bonus issue
Wipro announced that its board will consider bonus issue of shares in its meeting on 17-18 January 2019. The decision of the board of directors will be informed to the stock exchanges on the evening of 18 January 2019. The company is also slated to announce its third-quarter earnings on 18 January 2019. The announcement was made after market hours yesterday, 14 January 2019.
Global Markets: China shares prop-up Asia on stimulus hopes, sterling braces for Brexit plan
TOKYO (Reuters) - Asian stocks pulled ahead on Tuesday, led by a bounce in Chinese shares as Beijing signalled more supportive measures to stabilise a slowing economy, while the British pound braced for a showdown in parliament over the government's Brexit plan.
PG&E prepares bankruptcy filing after California wildfires
(Reuters) - PG&E Corp, owner of the biggest U.S. power utility by customers, said on Monday it is preparing to file for Chapter 11 bankruptcy protection as soon as this month amid pressure from potentially crushing liabilities linked to California's catastrophic wildfires in 2017 and 2018.
Indian Embassy organises training for 62 officials of Nepal govt
The training course focused on the topic 'Global Perspectives on Public Financial Management' upon the request of the Nepal government with the Indian Government under the Nepal-India economic co-operation programme."The programme is designed as per the requirement of the Ministry of Finance of Nepal and is being held at the Institute of Government Accounts and Finance (INGAF). The training will enhance the capabilities of these officials in global practices dealing with e-payment system, accounting and cash management, public burrowing system, accounting of foreign loans/grants and repayments, pension payment system, internal audit, fiscal responsibility and budget management, etc," read a statement from Indian Embassy in Kathmandu.The training courses are set to be held in three batches out of which the first batch of 20 officials is currently undergoing training at INGAF, New Delhi from January 14."The INGAF, New Delhi is a premier training institute of Government of India in the ..
Gold steady as dollar gains on fears of economic slowdown
BENGALURU (Reuters) - Gold prices were steady on Tuesday, pressured by a firm dollar on the back of concerns over slowing global growth, but well supported by expectations the U.S. Federal Reserve could refrain from raising interest rates this year.
Oil prices edge up on supply cuts, but weakening economic outlook caps gains
SINGAPORE (Reuters) - Oil prices inched up on Tuesday amid supply cuts by producer club OPEC and Russia, although the darkening economic outlook capped gains.
Asian shares on defensive, sterling braces for Brexit vote
TOKYO (Reuters) - Asian shares were on back foot on Tuesday as an unexpected drop in China's exports heightened worries about the global economy while the British pound braced for a showdown in parliament over the government's Brexit plan.
Trade war delays Chinese automaker GAC's entry into US
Chinese auto maker GAC will delay its entry into the US market until 2020 because of the trade war between Beijing and Washington, a company executive said Monday at the Detroit auto show. "We originally had the plan to launch our first vehicle in the US at the end of 2019," GAC President Yu Jun said through a company interpreter. "However we have postponed our plans due to the recent development on trade. We're making steady progress towards it." GAC now planned to launch its first product in the US in the first half of 2020, Yu said. Beijing and Washington remained locked in a trade war that could escalate as soon as next month, when the Commerce Department is expected to deliver a report on possible new auto tariffs. Analysts predict rapid contraction in the auto industry should more tariffs take effect. "Tariffs would be devastating to the entire industry," said Robert Carter, chief of Toyota's North American sales, adding that vehicle prices would increase and suppress sales. Cox
US stock market tumbles as China trade growth sparks fear of global economic slowdown
US stocks suffered a minor blow-back on Monday after trade data showed China's trade growth slowing. This has sparked fresh fears of a global economic slowdown.Even as trade talks between Washington and Beijing were slow in the past year, China's trade surplus with the U.S. soared to a record of USD 323.32 billion in 2018, MarketWatch reported.Among the major stock markets were -- Dow Jones fell 72 points or o.3 per cent to 23,923, while Nasdaq slid 47 points or 0.7 per cent, to 6,923. Shares of S&P 500 index, on the other hand, dropped 11 points or 0.5 per cent, to 2,584.Moreover, PG&E Corp. crashed over 49 per cent, after the American natural gas company announced that it will or bankruptcy on or after January 29.Newmont Mining Corp. stocks saw a fall of 7 per cent after the American mining company said it would buy Canadian miner Goldcorp as part of a deal amounting to $10 billion, as per the report.However, it was not a gloomy picture for other companies in the US stock ...
U.S. government shutdown holds up FAA approval of aircraft, routes
(Reuters) - Federal Aviation Administration (FAA) approval of aircraft such as Boeing's MAX and new routes like Southwest Airline Co's Hawaii launch are on hold due to the U.S. government shutdown, delaying commercial operations.
Global Markets - Weak China trade weighs on stocks; risk-off trade in play
NEW YORK (Reuters) - World stock indexes fell on Monday after a surprise contraction in Chinese trade reignited fears of a sharper slowdown in global growth and caused investors to sell riskier assets.
China worries weigh on Wall St., earnings expectations fall
NEW YORK (Reuters) - U.S. stocks declined on Monday as an unexpected drop in China's exports reignited worries of a global economic slowdown and prompted caution among investors as the corporate earnings season kicked off.
Wall St. falls as China prompts global slowdown worries
(Reuters) - U.S. stocks declined on Monday as an unexpected drop in China's exports reignited worries of a global economic slowdown and prompted caution among investors as the corporate earnings season kicked off.
China worries weigh on Wall St., earnings expectations tepid
NEW YORK (Reuters) - U.S. stocks declined on Monday as an unexpected drop in China's exports reignited worries of a global economic slowdown and prompted caution among investors as the corporate earnings season kicks off.