Page 2529 - Business Finance

Gold edges up in range-bound trade amid looming U.S. tariffs on China

BENGALURU (Reuters) - Gold inched up on Monday as investors looked for short-term gains using the metal's recent narrow trading range, amid increasing Sino-U.S. trade tensions and prospects of further interest rate hikes by the U.S. Federal Reserve.

H&M beats forecasts with third-quarter sales rebound, shares rise

STOCKHOLM (Reuters) - Sweden's H&M reported stronger-than-expected sales growth in the third quarter on Monday as the world's second biggest fashion retailer said its efforts to compete with online sellers and budget brands were bearing fruit.

Market trims losses

Key equity indices trimmed losses in early afternoon trade as buying support emerged at lower levels. At 12:28 IST, the barometer index, the S&P BSE Sensex, was down 393.20 points or 1.03% at 37,697.44. The Nifty 50 index was down 100.20 points or 0.87% at 11,415. The Sensex was trading below the psychologically important 38,000 mark.

Soaring petrol prices hit pre-festive buying: Survey

Ahead of the festive season, the surge in petrol rates has left consumers scrambling and cutting household expenses to adjust with the price hike, a survey said. "The festive season is nearing. Everyone wants to spend on gifts and do those much-awaited upgrades of the home appliances. But the roof-touching fuel prices have put a dent in the pre-festive season spirit," citizen engagement platform LocalCircles said in its latest survey. "It is a big burden on the middle-class Indians and many of them are scrambling and cutting household expenses to adjust with the rising fuel prices," it said. 78 per cent households have plans to reduce or have already reduced their discretionary spending like eating out, leisure travel, movies, shopping etc, the survey said. The rest said that they will restrict their expenses by spending only on purchase of the basic items.

Castor seed futures move down by 0.40 pc

Castor seed prices softened by 0.40 per cent to Rs 4,732 per quintal Monday on liquidating of bets by traders in line with a weak trend at the physical markets. Marketmen said trimming of holdings by participants, taking weak cues from the spot markets led to fall in castor seed prices in futures trade here. At the National Commodity and Derivatives Exchange, castor seed delivery for delivery in November fell by Rs 19, or 0.40 per cent, to Rs 4,732 per quintal revealing an open interest of 32,860 lots. In a similar manner, the most-traded delivery in October contract of castor seed also edged down by Rs 17 or 0.36 per cent to Rs 4,655 per quintal, the business turnover seen in 1,44,860 open interest lots.

Soybean futures ease by 0.34 pc

Soybean prices were down by 0.34 per cent to Rs 3,240 per quintal in futures trade Monday after traders liquidated bets amid a weak trend at the spot markets. Marketmen said off-loading of the positions by traders, tracking a weak trend at the physical markets on muted demand against adequate stocks mainly put pressure on soybean prices in futures trade here. At the National Commodity and Derivatives Exchange counter, soybean for delivery in the October contracts was trading lower by Rs 11, or 0.34 per cent, to Rs 3,240 per quintal in an open interest of 64,860 lots. Similarly, the delivery for November contract inched down by Rs 7, or 0.21 per cent, to Rs 3,272 per quintal, showing an open interest of 67,220 lots.

Maize futures rise 1.53 pc

Maize prices firmed up by 1.53 per cent to Rs 1,390 per quintal in futures trade Monday following widening of bets by the speculators, backed by a firming trend at the physical markets. Marketmen said widening of bets by participants in line with a better trend at the spot markets on pick up in demand from poultry feed makers amid tight supplies drove prices higher in futures trade here. At the National Commodity and Derivatives Exchange counter, Maize for delivery in November contracts gained Rs 21, or 1.53 per cent, to Rs 1,390 per quintal with open interest stood at 30 lots.

Nasdaq says more than 90 percent of commodity clearing buffer restored

OSLO (Reuters) - Members of Nasdaq's Nordic commodities exchange have replenished more than 90 percent of clearing house contingency funds that were lost last week when a private Norwegian trader defaulted during a spike in market volatility, the exchange operator said.

Nasdaq says more than 90 percent of clearing house buffer has been restored

OSLO (Reuters) - Members of Nasdaq's Nordic commodities exchange have replenished more than 90 percent of clearing house contingency funds that were lost last week when a private Norwegian trader defaulted during a spike in market volatility, the exchange operator said.

Focus: As its trading debut looms, China's Meituan locked in battle of super-apps

BEIJING/SHANGHAI (Reuters) - Meituan Dianping, which raised $4.2 billion in its Hong Kong IPO, is one of China's super-apps, with 340 million users ordering groceries, paying bills, renting bikes and booking hotels - but it is far from alone.

KM Sugar Mills Ltd leads gainers in 'B' group

Rana Sugars Ltd, Avadh Sugar & Energy Ltd, Dhampur Sugar Mills Ltd and Magadh Sugar & Energy Ltd are among the other gainers in the BSE's 'B' group today, 17 September 2018.

Mustard seed futures fall on physical lead

Mustard seed prices were down by Rs 28 to Rs 4,262 per quintal in futures trade Monday as traders reduced their bets in tune with weak physical markets. Marketmen said cutting down of holdings by traders, triggered by a weak trend at the spot markets on ample stocks position following persistent arrivals from growing belts against slackened demand from millers attributed the fall in mustard seed prices in futures trade here. At the National Commodity and Derivatives Exchange platform, the delivery of the mustard seed for delivery in November contracts declined by Rs 28 or 0.65 per cent to Rs 4,262 per quintal, clocking an open interest of 2,460 lots. While, the most-active, delivery in October contract was trading lower by Rs 22 or 0.52 per cent, to Rs 4,218 per quintal, having an open interest of 71,180 lots.

Guar seed futures fall by Rs 73 per quintal

Guar seed prices shed Rs 73 to Rs 4,251 per quintal in futures trade Monday as investors were seen cutting down their holdings, dampened by weak trend at the physical markets. Marketmen attributed the fall in guar seed futures prices to soaring stocks on relentless supplies from producing areas amid withdrawal of support by the guar gum makers in the spot markets. At the National Commodity and Derivatives Exchange counter, guar seed delivery for delivery in November contracts was trading lower by Rs 73, or 1.69 per cent, to Rs 4,251 per quintal showing an open interest of 16,700 lots. Also, the most-traded delivery in October contracts fell by Rs 69, or 1.62 per cent, to Rs 4,200.50 per quintal revealing an open interest of 1,06,920 lots.

Suzlon Energy Ltd leads gainers in 'A' group

Balrampur Chini Mills Ltd, Venkys (India) Ltd, Avanti Feeds Ltd and Nava Bharat Ventures Ltd are among the other gainers in the BSE's 'A' group today, 17 September 2018.

Guar gum futures plunge by Rs 156 per quintal

Guar gum prices dived by Rs 156 to Rs 9,210 per quintal in futures trade Monday as participants engaged in reducing their positions, triggered by weak trend at the physical markets on weak export and domestic demand. Marketmen said offloading of the holdings by participants in sync with a subdued trend at the spot markets due to weak export demand led to the fall in guar gum prices in futures market here. At the National Commodity and Derivatives Exchange, guar gum the contract for delivery in November dipped by Rs 156, or 1.67 per cent, to Rs 9,210 per quintal, with the business turnover in 10,840 open interest lots. Likewise, the guar gum for the most-traded, delivered in October slipped by Rs 147, or 1.59 per cent, to Rs 9,090 per quintal, in an open interest of 50,580 lots.

Samsung India set to launch 2 'Galaxy J' phones this week

In an attempt to take on Chinese smartphone brands in India, Samsung is set to launch two new smartphones -- Galaxy J6+ and Galaxy J4+ -- in India this week.

Cottonseed oil cake price drop 1.38 pc on weak spot cues

Cottonseed oil cake prices came down by Rs 23.50 to Rs 1,677 per quintal in futures trade Monday as investors cut down their bets, taking negative cues from the physical markets. Marketmen attributed the slide in cottonseed oil cake futures prices to a weak trend in the spot markets due to soaring stocks on constant supplies against slackness in demand from soap, paint and lubricant industries. At the National Commodity and Derivatives Exchange counter, cottonseed oil cake delivery for the most-traded December contract fell by Rs 23.50, or 1.38 per cent, to Rs 1,677 per quintal with a business turnover of 56,890 lots. Cottonseed oil cake for delivery in January next year dropped by Rs 20.50, or 1.20 per cent, to Rs 1,691 per quintal with an open interest of 3,230 lots.

Corrected: As its trading debut looms, China's Meituan locked in battle of super-apps

(Corrects $100 million to $100 billion in 13th paragraph)

Sensex, Nifty fall over 1 percent as rupee woes linger

(Reuters) - Indian shares fell over 1 percent on Monday, after measures outlined by the government on Friday to stem the steep decline in the rupee failed to cheer markets, while declining Asian shares added to the gloom.

Robust demand lifts refined soya oil futures by 0.32%

Refined soya oil prices hardened by 0.32 per cent to Rs 737.40 per 10 kg in futures trade Monday as speculators created fresh positions after demand picked up at the spot market. At the National Commodity and Derivatives Exchange, refined soya oil for delivery in September edged up by Rs 2.35, or 0.32 per cent, to Rs 737.40 per 10 kg with an open interest of 16,770 lots. In a similar fashion, the oil for delivery in October contracts was trading higher by Rs 1.95, or 0.27 per cent, to Rs 732.80 per 10 kg in 54,410 lots. Analysts said fresh positions built up by traders following upsurge in demand in the spot market against restricted supplies from producing belts, mainly attributed the rise in refined soya oil prices.