Page 1664 - Business Finance
Benchmarks hit fresh intraday low
Key benchmark indices extended losses and hit fresh intraday low in afternoon trade. At 13:21 IST, the barometer index, the S&P BSE Sensex, was down 55.64 points or 0.15% at 36,138.66. The Nifty 50 index was down 10.90 points or 0.10% at 10,865.85. Sentiment was hit by lower-than-expected GDP data.
China shares gain, yuan up on Sino-U.S. trade war pause
SHANGHAI/HONG KONG (Reuters) - Chinese shares, commodities and the yuan currency jumped on Monday after Chinese and U.S. leaders agreed to a temporary truce in their bitter trade war, but the longer-term outlook for trade relations remains murky.
Qatar to pull out of OPEC
Qatar on Monday announced that it intends to withdraw from the Organization of Petroleum Exporting Countries (OPEC) after nearly 60 years of membership in order to focus on its plans to increase natural gas production.
OnePlus to make its Hyderabad R&D centre biggest globally
Betting big on the cut-throat Indian smartphone market, Chinese handset maker OnePlus on Monday announced it has was working to grow its recently-opened Hyderabad facility into its biggest R&D centre globally in three years.
Oil surges on U.S.-China trade war ceasefire, expected supply cuts
SINGAPORE (Reuters) - Oil prices soared by more than 4 percent on Monday after the United States and China agreed to a 90-day truce in their trade war, and ahead of a meeting this week by producer club OPEC that is expected to result in a supply cut.
Qatar will pull out of OPEC amid tension with Saudi Arabia
The tiny, energy-rich Arab nation of Qatar announced on Monday it would withdraw from OPEC, mixing its aspirations to increase production outside of the cartel's constraints with the politics of slighting the Saudi-dominated group amid the kingdom's boycott of Doha. The surprise announcement from Qatar's minister of state for energy affairs, Saad Sherida al-Kaabi, again throws into question the role of the cartel after needing non-members to push through a production cut in 2016 after prices crashed below USD 30 a barrel. It also marks the first time a Mideast nation has left the cartel since its founding in 1960. In a statement, al-Kaabi said Qatar, the world's largest exporter of liquified natural gas, planned to increase its exports from 77 million tons of gas per year to 110 million tons. He also said Qatar wants to raise its oil production from 4.8 million barrels of oil equivalent a day to 6.5 million barrels. "In light of such efforts and plans, and in our pursuit to strengthen
Gold scales over three-week peak as dollar slips
BENGALURU (Reuters) - Gold prices hit a more than three-week high on Monday on a weaker dollar, as a trade ceasefire between the United States and China revived investor demand for riskier assets.
Oil prices surge on output cut pledge, US-China deal
Oil prices soared on Monday after Russia and Saudi Arabia renewed a pact to cap output, while the US agreed to halt raising tariffs on Chinese imports, stalling a trade row that many feared could hit demand for the commodity. Russian President Vladimir Putin said Saturday he and Crown Prince Mohammed bin Salman "have agreed to extend our agreement" to limit production as prices slump on global markets. An existing deal committing OPEC and non-members to cuts expires this year. While there was no announcement on how much would be cut and for how long, the pact between the world's two biggest crude exporters was cheered by oil traders, with Brent jumping USD 2.42 to USD 53.35 and West Texas Intermediate up USD 2.60 at USD 62.06 on Monday. There was a slight paring of prices after Qatar announced it would be leaving OPEC next year as it looks to concentrate on its gas production, though it would continue to pump crude. The country contributes a fraction of the entire output from the ...
South Indian Bank Ltd rises for third straight session
The stock is quoting at Rs 16.7, up 3.73% on the day as on 12:49 IST on the NSE. South Indian Bank Ltd is down 47.24% in last one year as compared to a 7.2% jump in NIFTY and a 9.69% jump in the Nifty Private Bank index.
Oriental Bank of Commerce soars 1.4%
The stock is quoting at Rs 90.65, up 1.4% on the day as on 12:49 IST on the NSE. Oriental Bank of Commerce is down 26.15% in last one year as compared to a 7.2% spurt in NIFTY and a 22.58% spurt in the Nifty PSU Bank index.
Hindalco Industries Ltd soars 3.14%, rises for third straight session
The stock is quoting at Rs 233.3, up 3.14% on the day as on 12:49 IST on the NSE. Hindalco Industries Ltd is down 2.61% in last one year as compared to a 7.2% gain in NIFTY and a 11.11% gain in the Nifty Metal index.
Network 18 Media & Investments Ltd up for third straight session
The stock is quoting at Rs 39.4, up 1.94% on the day as on 12:49 IST on the NSE. Network 18 Media & Investments Ltd is down 27.77% in last one year as compared to a 7.2% slide in NIFTY and a 22.47% slide in the Nifty Media index.
Indiabulls Housing Finance Ltd soars 7.15%, rises for third straight session
The stock is quoting at Rs 766.75, up 7.15% on the day as on 12:49 IST on the NSE. Indiabulls Housing Finance Ltd is down 34.77% in last one year as compared to a 7.2% gain in NIFTY and a 11.39% gain in the Nifty Financial Services index.
GAIL (India) Ltd soars 3.16%, up for third straight session
The stock is quoting at Rs 353.9, up 3.16% on the day as on 12:49 IST on the NSE. GAIL (India) Ltd is up 1.88% in last one year as compared to a 7.2% gain in NIFTY and a 2.86% gain in the Nifty Energy index.
Tata Power Company Ltd soars 6.64%
The stock is quoting at Rs 81.15, up 6.64% on the day as on 12:49 IST on the NSE. Tata Power Company Ltd is down 9.68% in last one year as compared to a 7.2% spurt in NIFTY and a 2.86% spurt in the Nifty Energy index.
Punjab National Bank gains for third straight session
The stock is quoting at Rs 70.75, up 1.22% on the day as on 12:49 IST on the NSE. Punjab National Bank is down 59.15% in last one year as compared to a 7.2% jump in NIFTY and a 6.95% jump in the Nifty Bank index.
RBL Bank Ltd spurts 1.43%
The stock is quoting at Rs 556.25, up 1.43% on the day as on 12:49 IST on the NSE. RBL Bank Ltd is up 8.73% in last one year as compared to a 7.2% spurt in NIFTY and a 6.95% spurt in the Nifty Bank index.
Bank of Baroda up for third straight session
The stock is quoting at Rs 106.65, up 1.52% on the day as on 12:49 IST on the NSE. Bank of Baroda is down 37.3% in last one year as compared to a 7.2% spurt in NIFTY and a 6.95% spurt in the Nifty Bank index.
Ashok Leyland total sales down 9 pc in Nov
Hinduja flagship firm Ashok Leyland Monday reported 9 per cent decline in total commercial vehicle sales at 13,121 units in November. The company had sold 14,457 units in the same month last year, Ashok Leyland said in a regulatory filing. Medium and heavy commercial vehicle sales last month stood at 8,718 units as against 10,638 units in November 2017, down 18 per cent, it added. Light commercial vehicle sales were, however, higher by 15 per cent at 4,403 units as against 3,819 units in the corresponding month last year, the company said.
Little-known asset manager makes $1.8 billion bid for Australia's GrainCorp
SYDNEY (Reuters) - Australia's largest listed bulk grain handler GrainCorp Ltd said on Monday it received an unsolicited A$2.38 billion ($1.8 billion) takeover approach from a little-known asset manager, catapulting its shares nearly a third higher.