Page 1727 - Business Finance
Sensex logs 1st gain in four sessions, soars 373 pts on auto, FMCG stocks rally
Breaking its three-session losing spree, the BSE benchmark Sensex surged over 373 points on emergence of buying mainly in auto, FMCG and banking stocks as sustained recovery in rupee and moderate crude oil prices buoyed investor sentiments. Similarly, the NSE Nifty rose nearly 102 points to regain the 10,600 level. Also, the benchmark indices gained tracking positive global cues and improving macro-economic scenario. Analysts said that markets likely reacted to the positive backdrop, as well as indications that the NBFC credit squeeze is abating. The Indian rupee appears to have stabilised a bit after recording a string of heavy losses last month. This recovery is driven by sharp drop in global crude oil prices and improving prospects for the domestic economy. The 30-share Sensex gyrated over 500 points during the session, finally settling 373.06 points, or 1.07 per cent, higher at 35,354.08. Similarly, the broader NSE Nifty jumped 101.85 points, or 0.97 per cent, to finish at ...
Indices rally on positive global stocks
Domestic stocks snapped three-day losses to score strong gains on positive global stocks. A sharp decline in crude oil prices also boosted gains. Today's rally was led by HDFC Bank, Hindustan Unilever and ITC. The Sensex ended above the psychological 35,000 mark after gyrating above and below that level in intraday trade.
Quick Wrap: Nifty FMCG Index gains 2.36%
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GOQii raises funds in series-B round led by Mitsui
Preventive healthcare platform GOQii Monday said it has raised an undisclosed sum in series-B round of funding led by Mitsui & Co Ltd of Japan. Mitsui's investment will enable GOQii to penetrate further across India and will also mark its entry into Japan. Given its ageing population and focus on preventive healthcare, Japan is ripe for the entry of players like GOQii, the company said in a statement. The latest round also saw the addition of several new investors, including Galaxy Digital and Denlow Investment Trust, it added. The company, however, did not disclose the amount it has raised in this funding round. "We have spent the last few years in validating our platform and forging partnerships with global insurance and healthcare providers. We are very excited to partner with Mitsui to drive the next phase of our growth," GOQii CEO Vishal Gondal said. GOQii's product offering is highly complementary to our portfolio of healthcare investments in India and globally and we see ...
Danish pensions boss quits after criticism of past tax schemes
COPENHAGEN (Reuters) - The chief executive of Danish pension fund ATP has decided to step down following criticism of the tax policies at a banking business when he was at the helm around a decade ago.
IFSEC India 2018: Securing the Nation Through a Most Influential Congregation of Policy Makers, Regulators and Decisions Makers
/ -- Over 300 Indian and Global brands to mark the 12th edition of IFSEC India, South Asia's largest Security event by UBM India The International Fire & Security Exhibition and Conference (IFSEC) India Expo, South Asia's largest security, civil protection and fire safety show by UBM India, is gearing up for its 12th edition which is slated for December 5th - 7th, 2018 at Pragati Maidan, New Delhi. Supported by the Asian Professional Security Association (APSA), American Society for Industrial Security (ASIS), Electronic Security Association of India (ESAI), Overseas Security Advisory Council (OSAC) and the Associated Chambers of Commerce and Industry of India (ASSOCHAM) among others, and with 'Security Update' and 'Security Today' as the official media partners, the show will see participation from over 20 countries such as UK, USA, China, Taiwan, Malaysia, Australia, Canada, Singapore, Korea, Russia and will bring together over 300 domestic and globally renowned brands, key ...
Saudi Arabia oil pumping at record high as Trump raises pressure
DHAHRAN, Saudi Arabia (Reuters) - Saudi Arabia raised oil production to an all-time high in November, an industry source said on Monday, as U.S. President Donald Trump piled pressure on the kingdom to refrain from production cuts at an OPEC meeting next week.
Aramco eyes bigger market share in Asia ahead of possible OPEC cut: CEO
DHAHRAN, Saudi Arabia (Reuters) - Saudi Aramco will expand its market share in Asia despite likely OPEC limits on output next year, and is eyeing deals in China and Africa as it aims to become a global leader in chemicals, the head of the world's top oil producer said on Monday.
Nifty November 2018 futures at premium
Turnover declines
Marginal Growth Noted In Domestic Steel Output
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Nifty, Sensex jump nearly 1 percent
(Reuters) - Indian shares rose about 1 percent on Monday in volatile trading, led by gains in index heavyweights HDFC Bank Ltd and consumer goods giants Hindustan Unilever Ltd and ITC Ltd.
Saudi Electricity to set up power generation subsidiary
RIYADH (Reuters) - Saudi Electricity Co plans to establish a power generation subsidiary, pending shareholder approval, a step viewed by analysts as a sign the state-controlled power giant is pushing ahead with a long-awaited restructuring.
Sensex rises 373 points, Nifty settles above 10,600
India's benchmark stock indices advanced about 1 per cent on Monday, as investors stepped up equity purchases after a string of declines last week.
Sensex, Nifty snap 3-day losses
Key domestic indices snapped three-day losses and ended with sharp gains on bargain hunting amid positive leads from global stock markets. A sharp decline in crude oil prices also supported buying. The barometer index, the S&P BSE Sensex, rose 373.06 points or 1.07% to 35,354.08, as per the provisional closing data. The Nifty 50 index rose 105.40 points or 1% to 10,632.15, as per the provisional closing data.
India set to miss 2018-19 fiscal deficit target: India Ratings
MUMBAI (Reuters) - India is set to miss its fiscal deficit target for the year ending March 2019 due to a shortfall in revenues and lower-than-targeted disinvestment proceeds, India Ratings and Research said on Monday.
Gold prices rise Rs 100 on buying by local jewellers
Gold prices rose by Rs 100 to Rs 31,850 per 10 gram Monday amid buying by local jewellers and positive global sentiment. Silver, too, gained Rs 150 to Rs 37,450 per kg amid increased demand from industrial units. Bullion traders said that demand from local jewellers at the domestic spot market mainly kept gold prices higher following a positive trend overseas. In the international market, gold was trading at USD 1,224.30 an ounce and silver was at USD 14.21 an ounce. In the national capital, gold of 99.9 per cent and 99.5 per cent purity rose by Rs 100 each to Rs 31,850 per 10 gram and Rs 31,700 per 10 gram, respectively. Sovereign gold also rose by Rs 100 to Rs 24,800 per piece of 8 gram. In line with gold, silver ready advanced by Rs 150 to Rs 37,450 per kg and weekly-based delivery gained Rs 209 to Rs 36,309 per kg. Silver coins continued to be traded at the previous level of Rs 73,000 for buying and Rs 74,000 for selling of 100 pieces.
Mitsubishi Motors sacks Ghosn as chairman
Mitsubishi Motors executives on Monday ousted Carlos Ghosn as chairman following his shock arrest for alleged financial misconduct, capping a stunning fall from grace for the tycoon credited with saving the scandal-hit Japanese firm. The move follows Ghosn's sacking as chairman of Nissan as he faces questioning in a Tokyo detention centre over claims he under-reported his salary to the tune of USD 44 million over several years. "During today's board meeting, it was decided that he is dismissed as chairman," the firm said in a statement following a gathering that lasted just over an hour. The 64-year-old Brazil-born Frenchman rode to Mitsubishi Motors' rescue in 2016 when the firm was battered by a fuel efficiency cheating scandal, tying it to his Nissan-Renault alliance and turning its fortunes around. Together, the three-way alliance is the world's top-selling car company, with some 10.6 million vehicles rolling off the production line. It employs around 450,000 people worldwide. But
Falling business morale points to weak German growth
BERLIN (Reuters) - German business morale fell by more than expected in November as a trade dispute between China and the United States weighed on Germany's export sector and hurt the economy.
Russia crude supply to China surges to record, Iran shipments sink: customs
BEIJING (Reuters) - Russia shipped record volumes of crude oil to China in October as independent refiners continued to fill import quotas, while Iranian oil shipments fell on uncertainty over Washington's imposition of sanctions on Tehran, data showed on Monday.
Take Five: Trade to tech wrecks - World markets themes for the week ahead
(Reuters) - Following are five big themes likely to dominate thinking of investors and traders in the coming week and the Reuters stories related to them.