Page 2504 - Business Finance
Cardamom futures rise 1.04% on spot demand
Cardamom prices rose 1.04 per cent to Rs 1,416.70 per kg in futures market Wednesday as participants built up fresh positions, supported by improved export and spot market demand. Besides, tight stocks position on fall in arrivals from growing regions also supported the rise. At the Multi Commodity Exchange, cardamom for delivery in October was trading higher by Rs 14.60, or 1.04 per cent, to Rs 1,416.70 per kg in a business turnover of 12 lots. The spice for November contract traded higher by Rs 10.60, or 0.75 per cent, to Rs 1,428 per kg with trading volume of 4 lots. Analysts said fresh positions created by traders due to pick-up in demand in spot market pushed up the cardamom prices.
Metal shares in demand
Key benchmarks were trading in narrow range near day's high in mid-morning trade. At 11:24 IST, the barometer index, the S&P BSE Sensex, was up 96.30 points or 0.26% at 37,386.97. The Nifty 50 index was up 33.30 points or 0.30% at 11,312.20. Positive cues from other Asian markets boosted investors sentiment.
Castor seed futures jump Rs 98 per quintal
Castor seed futures saw a sharp rise of Rs 98 to Rs 4,738 per quintal Wednesday on raising of bets by investors backed by a firm trend at the spot market. Marketmen said widening of bets by investors following a firm trend at the spot markets, boosted by strong demand from consuming industries like soap, paint and lubricants and low stocks on restricted supplies, lifted castor seed prices in futures trade here. At the National Commodity and Derivatives Exchange, castor seed for delivery this month climbed Rs 98 or 2.11 per cent to Rs 4,738 per quintal, with an open interest of 160 lots. In a similar fashion, contracts for October gained Rs 11 or 0.23 per cent to Rs 4,761 per quintal, in an open interest of 1,36,390 lots.
Bengaluru top location in Asia for starting tech ops: Colliers
Bengaluru has emerged as the best location in Asia for starting or expanding technology operations, according to property consultant Colliers International. In its research report 'Top Locations in Asia: Technology sector', the consultant has tracked 16 cities in developed and emerging markets across Asia. It examined nearly 50 criteria across a spectrum of socio-economic, property and human factors to determine the viability of these cities as tech hubs. Hyderabad ranks 7th, Mumbai 10th and Delhi-NCR 11th in the list of 16 cities. Bengaluru, Singapore and Shenzhen stand out as top choices for starting or expanding technology operations in Asia, the consultant said in the report. "Popularly known as the Silicon Valley of India, Bengaluru has been chosen as the No. 1 choice in Asia for technology occupiers," it added. Bengaluru's boost comes from its socio-economic strengths that has set it to be the fastest-growing in Asia with an average predicted annual GDP growth of 9.6 per cent ...
Crude oil futures rise by Rs 15 per barrel
Crude oil futures were higher by Rs 15 to Rs 5,072 per barrel Wednesday after participants widened their bets, even as it weakened overseas. At the Multi Commodity Exchange, crude oil for delivery in October contracts was trading higher by Rs 15, or 0.30 per cent, at Rs 5,072 per barrel with a business turnover of 181 lots. The crude for September delivery also moved up Rs 13, or 0.26 per cent, to Rs 5,068 per barrel with a business volume of 464 lots. Marketmen attributed the rise in crude oil futures to raising of bets by participants even as it weakened overseas amid a surprise climb in US crude stockpiles. Meanwhile, West Texas Intermediate crude prices fell 14 cents, or 0.20 per cent to trade at USD 69.71 a barrel while Brent crude was down 3 cents, or 0.04 per cent, at USD 79 a barrel on the New York Mercantile Exchange.
Volumes spurt at Dena Bank counter
Dena Bank notched up volume of 19.28 lakh shares by 10:48 IST on BSE, a 11.68 fold spurt over two-week average daily volume of 1.65 lakh shares
Good gains at Wall Street
Consumer-discretionary and industrial shares lead rally
Asian stocks rise as stimulus hopes lift Chinese stocks amid trade row
TOKYO (Reuters) - Asian stocks rose across the board on Wednesday as expectations that Beijing would implement stimulus to soften the economic blow from the Sino-U.S. trade war helped Chinese shares rally.
SABIC acquires 24.99% stake in Clariant globally
Further, its ultimate global holding Company Clariant announced its intention to combine its Additives and high value Masterbatches with parts of SABIC's Specialties business to form the Business Area High Performance Materials which will provide customers with significant benefits and strategic advantages. It also announced about its intention to divest the remaining Plastics & Coatings business by 2020, subject to necessary approvals.
Zinc futures rise 0.96 pc on positive global cues, spot demand
Zinc prices went up by 0.96 per cent to Rs 173.50 per kg in futures market Wednesday as speculators created fresh positions following positive lead from the global markets. Besides, upsurge in demand from consuming industries at domestic spot market, too, fuelled the uptrend. At the Multi Commodity Exchange, zinc for delivery September rose by Rs 1.65, or 0.96 per cent, to Rs 173.50 per kg in a business turnover of 1,124 lots. Similarly, the metal for delivery in October contracts traded higher by Rs 1.65, or 0.95 per cent, to Rs 175.15 per kg in 78 lots. Analysts said fresh positions built-up by participants in line with positive trend in Asian trade, as investors shrugged off an escalation of the US-China trade row, mainly supported the upside in zinc prices in futures trade here. Meanwhile, zinc was the other big gainer in Shanghai, rising 2.5 per cent to its highest since September 3.
Robust demand lifts lead futures by 0.23%
Amid uptick in demand at the domestic spot market, lead prices edged up by 0.23 per cent to Rs 150.40 per kg in futures trading Wednesday as traders built up fresh positions. At the Multi Commodity Exchange, lead for delivery in September edged higher by 35 paise, or 0.23 per cent, to Rs 150.40 per kg in a business turnover of 333 lots. Likewise, the metal for delivery in October contracts rose by 20 paise, or 0.13 per cent, to Rs 151.20 per kg in 7 lots. Analysts said fresh positions created by participants after pick up in demand from battery-makers in the physical market led to the rise in lead prices in futures trade.
Rs 225 cr subsidy to milk farmers pending for want of bank a/c
The delay in submission of bank account details of dairy farmers in Maharashtra has led to subsidy worth Rs 225 crore getting stuck at the government level, an official has said. The Maharashtra government had taken a decision some months back to provide a subsidy of Rs 5 per for every litre of milk to the co-operative and private producers to convert it into milk powder. These cooperative societies have already submitted their applications to seek subsidy from the government, but they have been asked to prove that the milk purchased by them is of cow and supplied by dairy farmers only. To provide the subsidy in a transparent manner, the authorities have also asked for bank account details of dairy farmers so that the amount can be transferred directly to them, the official from the dairy development department said. Once the bank accounts are verified by the authorities, the subsidy amount would be released, he said. The subsidy rate of Rs 5 per litre of milk is ...
Danske Bank set to shed light on Russian money flows to Europe
COPENHAGEN (Reuters) - Danske Bank will on Wednesday lift the lid on how billions of euros from Russia and ex-Soviet states flowed through its accounts in Estonia, the latest scandal to highlight Europe's inability to tackle alleged money-laundering.
Aluminium futures gain 0.51% on high demand
Aluminium prices advanced by 0.51 per cent to Rs 146.55 per kg in futures trade Wednesday as speculators raised bets amid increasing demand at the spot market. At the Multi Commodity Exchange, aluminium for delivery in September edged up by 75 paise, or 0.51 per cent, to Rs 146.55 per kg in a business turnover of 138 lots. Similarly, the metal for delivery in October contracts was trading higher by a similar margin to Rs 148.10 per kg in two lot. Analysts said expansion of positions by participants on the back of soaring demand from consuming industries in the physical market, led to the rise in aluminium prices in futures trade. A firm trend overseas where base metal prices rise, as investors shrugged off an escalation of the US-China trade row, also supported the uptrend, they said. Meanwhile, China responded to the latest US tariffs on USD 200 billion of Chinese goods with tariffs on about USD 60 billion worth of US goods, as previously planned, but has reduced the levy it will ...
Silver futures up Rs 87 on firm global cues
Silver rose by Rs 87 to Rs 37,525 per kg in futures trade Wednesday as the metal gained in global markets. At the Multi Commodity Exchange, silver for delivery in December gained Rs 87, or 0.23 per cent, to Rs 37,525 per kg in a business turnover of 177 lots. The metal for delivery in March next year too was trading higher by Rs 83, or 0.22 per cent, to Rs 37,557 per kg in 205 lots. Market analysts said participants built up positions amid a firm global trend as dollar weakened despite another round of tit-for-tat tariffs in the China-US trade dispute, influencing gold prices in futures trade here. Meanwhile, silver surged 0.46 per cent to USD 14.19 an ounce in Singapore Wednesday.
Market firms up on good buying support
The market firmed up in morning trade. At 10:35 IST, the barometer index, the S&P BSE Sensex, was up 138.64 points or 0.37% at 37,429.31. The Nifty 50 index was up 49.80 points or 0.44% at 11,328.70. Positive cues from other Asian markets boosted investors sentiment.
Board of KIOCL approves buyback of shares up to Rs 214 crore
At meeting held on 18 September 2018
Asian firms' confidence sinks to near three-year low on trade war fears - Thomson Reuters/INSEAD survey
JAKARTA (Reuters) - Confidence among Asian companies slumped to the weakest in almost three years in the third quarter as businesses feared blowback from a worsening global trade war, a Thomson Reuters/INSEAD survey showed.
Gold fades as dollar regains safe-haven appeal, U.S. Treasuries rise
NEW YORK/LONDON (Reuters) - Gold prices turned negative on Tuesday as the dollar strengthened following news that China would retaliate against a new round of U.S. tariffs on its goods. U.S. Treasuries also rose, helping boost the dollar but pressuring gold.
Gold rises marginally on positive global cues
Gold prices rose by Rs 39 at Rs 30,832 per 10 gram in futures trade Wednesday after speculators raised bets, driven by a firming global trend. At the Multi Commodity Exchange, gold for delivery in October was trading higher by Rs 39, or 0.13 per cent, to Rs 30,832 per 10 gram in a business turnover of 59 lots. The yellow metal for delivery in December too was up by Rs 36, or 0.12 per cent, to Rs 31,056 per 10 gram in one lot. Analysts attributed the rise in gold prices in futures trade here to raising of bets by investors tracking a firming trend overseas as the dollar weakened despite another round of tit-for-tat tariffs in the China-US trade dispute. Meanwhile, gold was trading 0.33 per cent higher at USD 1,201.80 an ounce in Singapore Wednesday.