Page 2319 - Business Finance
Nickel sheds 0.43% on weak global cues
Tracking a weak trend overseas, nickel prices fell by 0.43 per cent to Rs 956 per kg in futures market Wednesday as participants cut down bets. Furthermore, tepid demand from consuming industries particularly alloy-makers, at the domestic spot markets, weighed on the prices. At the Multi Commodity Exchange, nickel for delivery in current month was down by Rs 4.10, or 0.43 per cent to Rs 956 per kg in a business turnover of 49 lots. Analysts attributed the fall in nickel futures to a weak trend overseas where prices fell over one per cent and muted demand from alloy-makers at the domestic spot markets.
Mentha oil futures up 0.60% on increased demand
Mentha oil prices rose by 0.60 per cent to Rs 1,741 per kg in futures trading today as speculators engaged in building up positions, driven by surging demand in the spot market. At the Multi Commodity Exchange, mentha oil for delivery this month advanced by Rs 10.40, or 0.60 per cent to Rs 1,741 per kg in business turnover of 15 lots. Analysts said expanding of positions by participants, tracking strong demand from consuming industries in the physical market against low stocks position on fall in arrivals from Chandausi kept mentha oil prices higher at futures trade.
Jeera remains weak, down 0.82 pc on low demand
Jeera prices fell further by 0.82 per cent to Rs 19,275 per quintal in futures trade Wednesday as speculators engaged in trimming positions to booked profits at prevailing levels amid lower domestic and exports demand at the spot markets. In futures trading, at the National Commodity and Derivatives Exchange, jeera for delivery in November was trading lower by Rs 160, or 0.82 per cent, to Rs 19,275 per quintal with an open interest of 6,144 lots. Similarly, the spice for delivery in December was quoting lower by Rs 150, or 0.77 per cent to Rs 19,315 per quintal in 3,570 lots. Analysts said, trimming of positions by participants on the back of easing domestic as well as exports demand at spot market against adequate stocks position, mainly kept jeera prices down at futures trade.
Volumes jump at Tata Consultancy Services Ltd counter
Tata Consultancy Services Ltd witnessed volume of 16.45 lakh shares by 10:48 IST on BSE, a 8.95 times surge over two-week average daily volume of 1.84 lakh shares
Refined soya oil succumb to profit-booking, shed 0.36%
Amid profit-booking at current levels by participants, refined soya oil prices eased by 0.25 per cent to Rs 751.35 per 10 kg in futures trading Wednesday. At the National Commodity and Derivatives Exchange, refined soya oil for delivery in current month was trading lower by Rs 2.10, or 0.25 per cent to Rs 751.35 per 10 kg with an open interest of 23,040 lots. On similar lines, the oil for delivery in December declined by Rs 1.90, or 0.24 per cent to Rs 760.50 per 10 kg in 35,920 lots. Market analysts said off-loading of positions by participants to book profits amid easing demand in the physical market against ample stocks position on increased supplies from producing belts, mainly kept refined soya oil prices lower at the futures trade.
Syndicate Bank hikes MCLR for three month tenor
With effect from 10 October 2018
Maruti Suzuki sells 24000 units of new Ciaz in first half of 2018-19
New Ciaz becomes India's highest selling premium sedan
Garden Reach Shipbuilders sees weak debut
Shares of Garden Reach Shipbuilders & Engineers were trading at Rs 106.20 at 10:45 IST on BSE, a discount of 10% over the initial public offer price of Rs 118.
Syndicate Bank hikes 3 months' MCLR by 10 basis points
State-run Syndicate Bank Wednesday increased its marginal cost of funds based lending rate (MCLR) by 10 basis points or 0.1 per cent for loan tenure of 3 months. Interest rates for loan tenure of three months has been hiked to 8.50 per cent from 8.40 per cent earlier. The bank has reviewed MCLR and the new rate would be effective October 10, Syndicate Bank said in a filing to stock exchanges. Interest rates for loan tenors of overnight, one month, six months and one year remain unchanged to 8.30 per cent, 8.35 per cent, 8.60 per cent, and 8.80 per cent, respectively. Lenders review the MCLRs every month. Shares of Syndicate bank were trading 2.18 per cent higher at Rs 30.40 apiece on BSE.
Oil dips as IMF lowers global growth outlook; eyes on U.S. hurricane
TOKYO (Reuters) - Oil prices edged lower on Wednesday after the IMF lowered its global growth forecasts but prices were supported as Hurricane Michael churned towards Florida, causing the shutdown of nearly 40 percent of U.S. Gulf of Mexico crude output.
Garden Reach Shipbuilders falls nearly 13 percent on market debut
MUMBAI (Reuters) - Shares of India's Garden Reach Shipbuilders and Engineers Ltd fell on their market debut on Wednesday after the company raised 3.4 billion rupees ($45.81 million) at its initial public offering earlier this month.
Market hits fresh intraday high
Key benchmarks extended gains and hit fresh intraday high in morning trade. At 10:19 IST, the barometer index, the S&P BSE Sensex, was up 340.85 points or 0.99% at 34,640.32. The Nifty 50 index was up 111.70 points or 1.08% at 10,412.75.
Nalco jumps on buyback plan
The stock rose 5.82% to Rs 64.55 at 10:00 IST on BSE.
8K Miles Software Services Ltd Slides 4.98%
8K Miles Software Services Ltd has lost 52.79% over last one month compared to 4.53% fall in S&P BSE IT Sector index and 9.19% drop in the SENSEX
TVS Motor Company Ltd Spurts 3.88%, S&P BSE Auto index Gains 1.41%
TVS Motor Company Ltd has lost 12.89% over last one month compared to 18.13% fall in S&P BSE Auto index and 9.34% drop in the SENSEX
Global financial stability risks rising with trade tensions, IMF says
(Reuters) - Risks to the global financial system have risen over the past six months and could increase sharply if pressures in emerging markets escalate or global trade relations deteriorate further, the International Monetary Fund said on Wednesday.
Shares open with decent gains
Key benchmark indices were trading higher in early trade on value buying. At 9:19 IST, the barometer index, the S&P BSE Sensex, was up 81.09 points or 0.24% at 34,380.56. The Nifty 50 index was up 27 points or 0.26% at 10,328.05.
SoftBank in talks to take majority stake in WeWork - source
SAN FRANCISCO/NEW YORK (Reuters) - Japan's SoftBank Group Corp is in discussions to take a majority stake in shared office space provider WeWork Cos, a source familiar with the matter said, a deal that would increase one of its biggest bets on a late-stage U.S. startup.
China's yuan to pare losses on hopes trade risks will subside: Reuters poll
BENGALURU (Reuters) - China's yuan is forecast to pare some of its recent losses against the dollar over the coming year on hopes that risks from an escalating U.S.-China trade war and a deep sell-off in emerging markets will subside, a Reuters poll found.
Rupee, bonds gain in early trade; seen rangebound
MUMBAI (Reuters) - The rupee gained on Wednesday, recovering from a record low hit at the end of the previous session, as gains in other Asian peers and stronger domestic shares helped sentiment, while the announcement of the first open market bond purchase for October aided bonds.