Page 2228 - Business Finance
Jet Airways (India) Ltd leads gainers in 'A' group
DLF Ltd, NIIT Technologies Ltd, Hindustan Zinc Ltd and Infibeam Avenues Ltd are among the other gainers in the BSE's 'A' group today, 19 October 2018.
China shares bounce despite weak Q3 GDP as regulators pledge support
SHANGHAI (Reuters) - Chinese stocks bounced on Friday, erasing losses from the past two sessions after regulators pledged steps aimed at calming markets and supporting struggling firms, as Beijing moved quickly to mitigate rising risks to the economy.
Nifty, Sensex fall over 1 percent; Reliance drags
(Reuters) - Indian shares dropped for a second straight session on Friday, with index heavyweight Reliance Industries Ltd sliding as much as 7 percent after the company's gross refining margin hit a three-and-a-half year low.
Onions prices on rise in Delhi wholesale markets
Wholesale onion prices in the national capital have shot up to Rs 23 per kg in last ten days on tight supplies from producing states, a traders body said. A similar increase was seen in the retail markets, where the kitchen staple was quoted in the range of Rs 30-40 per kg depending on the quality and locality. "There has been Rs 7-10 per kilo increase in wholesale rates of onion in the last ten days," Onion and Potato Merchants Association (Azadpur mandi) General Secretary Rajendra Sharma said. Not only the price gap between the old and new crop has come down, but also the arrival of new kharif crop is yet to begin in full swing as farmers have not started harvesting due to the festive break, he said. Meanwhile at Lasalgoan in Nasik district of Maharasthra, Asia's largest wholesale market for onion, prices skyrocketed to Rs 21-22 per kg on reports of a possible drop in the kharif output of the bulb crop because of heat wave in the state. The prices were ruling at Rs 15 per kg in the .
RBI announces more steps to increase credit flow to NBFCs
The Reserve Bank Friday announced more measures to increase liquidity flows to the non-banking financial companies. The RBI permitted banks to use government securities equal to their incremental outstanding credit to NBFCs, over and above their outstanding credit to them as on October 19, to be used to meet liquidity coverage ratio requirements. The move will help provide liquidity to housing finance companies (HFCs) and non-banking finance companies (NBFCs) which have come under pressure following series of default by IL&FS group companies. "... banks will be permitted to also reckon Government securities held by them up to an amount equal to their incremental outstanding credit to NBFCs and HFCs, over and above the amount of credit to NBFCs and HFCs outstanding on their books as on October 19, 2018, as Level 1 HQLA under FALLCR within the mandatory SLR requirement," RBI said in a notification. This will be in addition to the existing FALLCR of 13 per cent of total deposits, and
Weak market breadth
Key equity indices were hovering near day's low in mid-morning trade. At 11:30 IST, the barometer index, the S&P BSE Sensex, was down 327.83 points or 0.94% at 34,451.75. The Nifty 50 index was down 119.20 points or 1.14% at 10,333.85. Selling in IT shares and weakness in index heavyweight Reliance Industries (RIL) put pressure on bourses.
Market tumbles on weak global cues
Key benchmark indices were trading with steep losses in early trade due to weak global cues. At 9:20 IST, the barometer index, the S&P BSE Sensex, was down 397.54 points or 1.14% at 34,382.04. The Nifty 50 index was down 112.95 points or 1.08% at 10,340.10.
Muthoot Capital Services standalone net profit rises 94.12% in the September 2018 quarter
Sales rise 39.39% to Rs 131.82 crore
Surya Roshni bags order worth Rs 50.34 crore
From Energy Efficiency Services
Jeera futures up 0.46 pc on rise in demand
Jeera prices rose by 0.46 per cent to Rs 20,555 per quintal in futures trade Friday as speculators created fresh positions, driven by pick-up in demand from stockists and overseas enquiries. Tight stocks position following restricted arrivals from the growing regions fuelled the uptrend. At the National Commodity and Derivatives Exchange, jeera for delivery in December rose by Rs 95, or 0.46 per cent higher, to Rs 20,555 per quintal, with an open interest of 570 lots. Likewise, the contract for November month was trading higher by Rs 80, or 0.40 per cent up, at Rs 20,330 per quintal, the open interest of contract stood at 6,330 lots. Traders said speculative positions built up by participants amid rising domestic as well as export demand, mainly led to the rise in jeera prices at futures trade.
Muted demand drags down zinc futures by 0.30 pc
Zinc prices fell by 0.30 per cent to Rs 199.75 per kg in futures trading Friday as traders trimmed their positions amid tepid demand at the domestic spot markets. A the Multi Commodity exchange, zinc for delivery in current month fell by 60 paise, or 0.30 per cent to Rs 199.75 per kg in business turnover of 470 lots. Analysts attributed slide in zinc futures to offloading of positions by participants in line with a weak trend overseas and decline in demand from consuming industries in the domestic physical market.
Lead futures slip on profit-booking
Lead futures traded 0.24 per cent down at Rs 146.40 per kg Friday after participants reduced their exposure to book profits. At the Multi Commodity exchange, lead for delivery in the current month contracts was trading 35 paise down, or 0.24 per cent, at Rs 146.40 per kg in a business turnover of 231 lots. Market analysts said apart from slack demand from battery-makers, profit-booking by participants at existing levels, led to the fall in lead futures prices here.
Gold edges higher as stocks slide; metal heads for third weekly gain
BENGALURU (Reuters) - Gold prices nudged higher on Friday as Asian shares fell on renewed political and economic concerns including China's weak growth, with the metal on track for a third straight weekly gain.
Silver futures fall 0.18 pc to Rs 38,788 per kg
Silver prices were down by Rs 71, or 0.18 per cent to Rs 38,788 per kg in futures trade Friday as participants cut down bets, ignoring a firm trend overseas. At the Multi Commodity Exchange, silver for delivery in December fell by Rs 71, or 0.18 per cent, to Rs 38,788 per kg in a business turnover of 298 lots. Similarly, the white metal for delivery in November edged down by Rs 65, or 0.17 per cent, to Rs 38,825 per kg in 934 lots. Analysts said offloading of positions by participants at current levels, led to fall in silver prices at futures trade here but a firm trend in the precious metals overseas, restricted the losses. Globally, silver gained 0.17 per cent to USD 14.66 an ounce in Singapore.
Refined soya oil futures slide 0.76 pc on adequate supply
Refined soya oil prices were lower by 0.76 per cent to Rs 770 per 10 kg in futures trading Friday as speculators trimmed positions amid sufficient stocks position at the physical markets. At the National Commodity and Derivatives Exchange, refined soya oil for delivery in December declined by Rs 5.90, or 0.76 per cent to Rs 770 per 10 kg with an open interest of 14,950 lots. Likewise, the oil for delivery in November shed Rs 3.80, or 0.49 per cent to Rs 765.90 per 10 kg in 37,420 lots. Market analysts participants cut down their positions due to decline in demand in the physical market on increased supplies from producing belts.
Volumes jump at Sudarshan Chemical Industries Ltd counter
Sudarshan Chemical Industries Ltd witnessed volume of 56.6 lakh shares by 10:48 IST on BSE, a 376.38 times surge over two-week average daily volume of 15037 shares
Software AG in slight Q3 beat as industrial internet unit ramps up
FRANKFURT (Reuters) - Software AG, Germany's No.2 business software firm, reported third-quarter profits and sales that slightly beat market expectations as its new industrial internet division achieved triple-digit growth.
Global Markets: Asian shares erase losses as China's steps help Shanghai recover
SHANGHAI (Reuters) - Asian stocks erased losses on Friday as China shares recovered after government statements sought to bolster market confidence following data showing the slowest Chinese economic quarterly growth since the global financial crisis.
China has ample soybean supplies, big price moves unlikely: agriculture ministry
BEIJING (Reuters) - China has ample supplies of soybeans and significant price fluctuations are unlikely, a senior agriculture ministry official said on Friday.
Asia air cargo market gets e-commerce boost as trade war yet to bite
JEJU, South Korea (Reuters) - Strong e-commerce demand is fuelling Asia's air freight market, with the U.S.-China trade war having minimal negative impact so far and in some cases even boosting shipments, industry executives said on Friday.