Page 2631 - Business Finance
Apple dominated global wearables market in Q2 2018
Apple dominated the global wearables market in the second quarter of 2018 with a total share of 17 per cent as the market ticked up 5.5 per cent, an International Data Corp (IDC) report said on Wednesday.
Upsurge in demand lifts lead futures by 0.95 pc
Lead prices advanced by 0.95 per cent to Rs 149.30 kg in futures trade on Wednesday as traders built up fresh positions, taking positive cues from spot market on upsurge in demand. At the Multi Commodity Exchange, lead for September rose by Rs 1.40, or 0.95 per cent, to Rs 149.30 per kg in business turnover of 4,006 lots. Analysts said fresh positions created by participants, tracking a firm trend at spot market on pick up in demand from battery-makers in the physical market mainly led to the rise in lead prices at futures trade. Likewise, the metal for October was trading higher by Rs 1.25, or 0.84 per cent, to Rs 149.95 per kg in 64 lots.
Copper up by 0.82% on higher demand
Copper prices hardened by 0.82 per cent to Rs 425.25 per kg in futures trade on Wednesday as speculators built up fresh positions taking positive cues on pick up in demand. At the Multi Commodity Exchange, copper for delivery in February 2019 rose by Rs 3.45, or 0.82 per cent, to Rs 425.25 per kg in business turnover of 111 lots. Similarly, the metal for November gained Rs 3.25, or 0.78 per cent, to Rs 419 per kg in 14,327 lots. Market analysts said fresh positions created by participants after uptick in demand from consuming industries mainly pushed up copper prices at futures trade.
Production at Kerala plants near normalcy: Apollo Tyres
Apollo Tyres Wednesday said production operations at its plants in Kerala have reached near normalcy post floods. Apollo Tyres, which had earlier informed of disruption of operations at Perambra and Kalamassery plants in the state, said there was production loss of 3,000 metric tonne due to the natural calamity. "The production at the plants is near normalcy," the company said in a regulatory filing. It was disrupted as many employees couldn't reach the plants. "There is no damage to equipment or property, and all our employees are safe and secure. The production loss due to this natural calamity is 3,000 MT (approximately). However, consequential loss of profit is not significant," it said. The production loss due to natural calamity is adequately covered under the insurance policy of the company. Shares of Apollo Tyres were trading 0.71 per cent lower at Rs 239.35 apiece on BSE.
Turmeric futures fall 0.74 pc on weak demand
Turmeric prices fell by 0.74 per cent to Rs 6,672 per quintal in futures market Wednesday on account of easing demand from retailers and industrial buyers at the spot market. Reports of improved sowing from major growing areas of Tamil Nadu, Karnataka and Maharashtra also influenced the turmeric futures prices. At the National Commodity and Derivatives Exchange, turmeric for September declined by Rs 50, or 0.74 per cent, to Rs 6,672 per quintal with an open interest of 8,485 lots. Market analysts said off-loading of positions by traders, triggered by fall in domestic as well as export demand against adequate stocks position mainly exerted pressure on turmeric prices. Similarly, the spice for October lost Rs 40, or 0.58 per cent, to Rs 6,770 per quintal in 8,280 lots.
Norway's $1 trillion fund to beef up scrutiny of sustainability, ocean pollution
OSLO (Reuters) - Norway's $1 trillion sovereign wealth fund will demand that companies in which it invests follow stricter guidelines on global sustainability, including efforts to combat plastic pollution of the oceans, the fund's manager said on Wednesday.
Weak demand decelerates India's August service sector growth
Weak demand conditions decelerated the growth of India's service sector in August, a key economic data point showed on Wednesday.
China stocks fall sharply on economic, trade war worries
SHANGHAI (Reuters) - China's main stock indexes fell over 1 percent on Wednesday, as investors dumped banking, property and resources shares amid fresh signs of anaemic growth, and ahead of a likely escalation of the Sino-U.S. trade war.
Cardamom futures rise 1.48% on spot demand
Cardamom prices rose 1.48 per cent to Rs 1,416 per kg in futures trade as participants built up fresh positions, tracking rising demand from the domestic spot market. 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 20.60, or 1.48 per cent, to Rs 1,416 per kg in a business turnover of 32 lots. In the current month the spice traded higher by Rs 16.20, or 1.17 per cent, to Rs 1,390 per kg with trading volume of 9 lots. Analysts said fresh positions created by traders due to pick-up in demand in spot market pushed up the cardamom prices.
Guar seed futures slide on soaring stock
Guar seed prices weakened by Rs 32.50 to Rs 4,312.50 per quintal in futures trade on liquidation of bets and thin demand in the spot markets. Marketmen said plenteous availability of stocks in the market on good supplies from growing areas, and thin demand from guar gum makers in the spot markets mainly put weight on the guar seed prices. At the National Commodity and Derivatives Exchange counter, guar seed delivery for the most-traded October declined by Rs 32.50 or 0.75 per cent to Rs 4,312.50 per quintal, revealing an open interest of 1,12,940 lots. Meanwhile, the delivery for November slackened by Rs 22.50 or 0.51 per cent to Rs 4,370 per quintal, having an open interest of 12,690 lots.
Vedanta gets bauxite from Odisha, hopes to get more
Encouraged by supply of bauxite from the state-owned Odisha Mining Corporation (OMC), The Vedanta Limited is optimistic about completion of its refinery expansion project. Though the aluminium major has been managing to run its 2 mtpa refinery since 2007 by importing bauxite from other states and abroad, the company for the first time received the raw material from OMC's Kodingamali mines recently, Vedanta Limited's External affairs (Head) Sanjeev Kumar told PTI. The raw material is available to the company from the bauxite rich Odisha almost 10 years after its successful operation. The Vedanta got bauxite from Kodingamali mines, located about 152 km from its refinery at Lanjigarh in Odisha's Kalahandi district. The company has been importing bauxite from countries like Brazil and Guinea and other states like Andhra Pradesh and Gujarat to feed its 2 mtpa refinery, he said. The company could utilise only 1.2 mtpa capacity of the refinery due to raw material shortage ...
Capital goods, telecom stocks decline
Fresh selling in index pivotals pulled the key benchmark indices to intraday low in early afternoon trade. At 12:21 IST, the barometer index, the S&P BSE Sensex, was down 181.20 points or 0.47% at 37,976.72. The Nifty 50 index was down 65.85 points or 0.57% at 11,454.45. Capital goods stocks fell. Telecom stocks declined. Sentiment was hurt by data showing that India's Services PMI has rose at slower pace in August.
Asian currencies largely stationary as U.S. tariff news awaited
(Reuters) - Most emerging Asian currencies barely changed levels on Wednesday as the dollar eased fractionally after a series of gains, while caution about global economic health kept investors from making large moves.
Oil prices fall as U.S. storm threat eases, but Iran sanctions loom
SINGAPORE (Reuters) - Oil prices fell on Wednesday as a tropical storm hitting the U.S. Gulf coast weakened and had a lower impact on production than initially expected.
Ravikumar Distilleries Ltd leads gainers in 'B' group
Sical Logistics Ltd, Texmo Pipes & Products Ltd, Salona Cotspin Ltd and Megasoft Ltd are among the other gainers in the BSE's 'B' group today, 05 September 2018.
Twitter India head quits, Balaji Krish interim chief
Taranjeet Singh, who was elevated as Twitter's Country Director for India in May 2017, has decided to move on and Balaji Krish, Global Head of Revenue Operations and Strategy at Twitter will be the interim Country Lead, the company said on Wednesday.
Guar gum dips by Rs 105 per quintal, weak export demand
Guar gum prices tumbled down further by Rs 105 to Rs 9,540 per quintal in futures trade today on renewed selling and weak export demand, even as rupee depreciated to a record low. Marketmen said investors continually unwinding holdings due to weak export demand for oil drilling industries, despite a record fall in rupee value against the dollar. Generally, the weaker rupee is favourable for the exporters because devaluation in rupee competes for the export in overseas. The rupee dropped to touch a low of 71.79 against the dollar. At the National Commodity and Derivatives Exchange counter, guar gum delivery for November slipped further by Rs 105 or 1.09 per cent to Rs 9,540 per quintal, with an open interest of 5,920 lots. Meanwhile, the delivery of the most-traded first October declined by Rs 63 or 0.66 per cent to Rs 9,478 per quintal, showing the business turnover in 59,480 open interest lots.
Castor seed futures eases by Rs 18 per quintal
Castor seed prices enquired lower by Rs 18 to Rs 4,678 per quintal in futures trade on minimizing of the holdings and subdued physical markets. Marketmen said operators were cutting down their holdings in pressure of lower physical markets where prices traded lower due to sluggish demand from consuming industries such as soap, paint and lubricant amid ample stocks. At the National Commodity and Derivatives Exchange platform, castor seed delivery for September down by Rs 18 or 0.38 per cent to Rs 4,678 per quintal, having an open interest of 45,140 lots. Likewise, the delivery for the most-traded October skipped by Rs 12 or 0.25 per cent to Rs 4,678 per quintal, with the business turnover in 1,13,660 open interest lots.
Muthoot Finance Ltd leads gainers in 'A' group
Advanced Enzyme Technologies Ltd, Cyient Ltd, Biocon Ltd and Alembic Pharmaceuticals Ltd are among the other gainers in the BSE's 'A' group today, 05 September 2018.
Global Markets: Stocks fall, dollar up on trade tensions, emerging market woes
TOKYO (Reuters) - Stock markets fell in Asia on Wednesday and the safe-haven dollar hovered near a two-week high as heightened worries over international trade conflicts and emerging market weakness curbed investors' appetite for riskier assets.