Page 2735 - Business Finance
China Market ends 0.18% up
U.S. fund investors apparently saw a buying opportunity in China despite ongoing trade tensions, adding their most exposure to that market since January, Lipper data for the latest week showed on Thursday.
Norway's $1 trillion wealth fund should keep oil stocks: commission
OSLO (Reuters) - Norway's trillion-dollar sovereign wealth fund should continue to invest in oil and gas firms, a government-appointed commission recommended on Friday, contradicting earlier advice from the central bank.
Aspira Pathlab & Diagnostics to issue 30 lakh equity shares and 55 lakh NCDs
On preferential basis to promoters and strategic investors
Shares hit fresh intraday low
Key equity indices extended losses and hit fresh intraday low in afternoon trade. At 13:20 IST, the barometer index, the S&P BSE Sensex, was down 90.78 points or 0.24% at 38,245.98. The Nifty 50 index was down 31.45 points or 0.27% at 11,551.30.
Chana futures extend fall, shed 1.31% on tepid demand
Chana prices fell by 1.31 per cent to Rs 4,131 per quintal in futures trade today, extending the fall for the second day, as participants cut bets amid subdued demand at the spot market against adequate stocks. Moreover, profit-booking at existing higher levels too weighed on the sentiment. At the National Commodity and Derivatives Exchange, chana for delivery in September contract fell by Rs 55, or 1.31 per cent, to Rs 4,131 per quintal with an open interest of 76,870 lots. Similarly, the commodity for delivery in October contracts drifted lower by Rs 53, or 1.24 per cent, to Rs 4,221 per quintal. The open interest of the contract stood at 18,840 lots. Market analysts attributed the persistent fall in chana futures to offloading of positions by traders owing to subdued demand in the physical market against ample stocks position.
Jeera futures extend fall on profit-booking
Jeera prices fell by Rs 570 to Rs 19,065 per quintal in futures trade today, extending its fall for the second day, as speculators trimmed down their positions on profit-booking at prevailing levels amid lower domestic and exports demand. Furthermore, reports of improved rains in central Gujarat also weighed on jeera prices in future market. At the National Commodity and Derivatives Exchange, jeera for September fell sharply by Rs 570, or 2.90 per cent, to Rs 19,065 per quintal with an open interest of 6,987 lots. Similarly, the spice for October moved down by Rs 530, or 2.65 per cent, to Rs 19,400 per quintal in 2,061 lots. Analysts said besides profit-booking by speculators at existing levels, fall in demand at the spot market against adequate stocks position, exerted pressure on jeera futures.
Coriander futures fall 1.16% on subdued demand
Coriander prices fell by 1.16 per cent to Rs 4,843 per quintal in futures market today as participants trimmed holdings, in line with subdued demand at the spot market. Further, increased arrivals from major producing belts weighed on coriander futures. At the National Commodity and Derivatives Exchange, coriander prices for delivery in September contract declined by Rs 57, or 1.16 per cent, to Rs 4,843 per quintal with an open interest of 38,210 lots. Similarly, the spice for delivery in October was trading lower by Rs 60, or 1.13 per cent, at Rs 5,238 per quintal in 7,290 lots. Market analysts attributed the fall in coriander futures to sluggish demand in the physical market against adequate stocks position on increased supplies from producing regions.
Guar seed futures fall on weak spot demand
Guar seed prices dropped by Rs 58.50 to Rs 4,318.50 per quintal in futures trade today as investors cut down bets, driven by bearish physical markets trend. Marketmen said subdued demand from guar gum makers amid bumper stock on persistent supplies from growing areas in the spot markets, put pressure on guar seed prices in futures trade. At the National Commodity and Derivatives Exchange, guar seed for delivery in November contracts fell by Rs 58.50, or 1.34 per cent, to Rs 4,318.50 per quintal with an open interest of 7,760 lots. In a similar fashion, the most-traded delivery in October dropped by Rs 51.50, or 1.19 per cent, to Rs 4,292 per quintal with an open interest of 1,09,460 lots.
Gold gains as dollar slips; markets await Fed chairman's speech
BENGALURU (Reuters) - Gold rose on Friday after falling in the previous session, as the dollar eased and markets awaited a speech by the Federal Reserve chairman for fresh clues on the direction of U.S. monetary policy.
Guar gum futures extend losses on weak export demand
Guar gum prices fell by another Rs 80 to Rs 9,225 per quintal as participants cut bets, driven by tepid export demand and a weak trend at the spot markets. Marketmen said, apart from soaring stock on relentless supplies of guar seed from growing regions in the spot market, sluggish export demand from oil drilling industries, continued to put pressure on guar gum futures prices. At the National Commodity and Derivatives Exchange, guar gum for October contracts slipped by Rs 80, or 0.86 per cent, to Rs 9,225 per quintal with a business turnover of 63,685 open interest lots. Also, the contract for November delivery of guar gum weakened by Rs 76, or 0.81 per cent, to Rs 9,317 per quintal with an open interest of 3,205 lots.
Soybean futures drop 1.25 pc on global cues
Soybean prices dropped 1.25 per cent to Rs 3,251 per quintal in futures trade today as investors cut bets, taking subdued cues from global markets. Marketmen said offloading of bets by participants in line with a weak trend in global markets led to the fall in soybean prices in futures trade here. At the National Commodity and Derivatives Exchange, soybean for October contracts fell by Rs 41, or 1.25 per cent, to Rs 3,251 per quintal, clocking an open interest of 54,920 lots. Soybean to be delivered in November too dropped by Rs 39, or 1.18 per cent, to Rs 3,255 per quintal, showing an open interest of 35,240 lots.
Mentha oil rises 0.47 pc on firm spot demand
Mentha oil futures were trading higher by 0.47 per cent to Rs 1,677.80 per kg in futures market today after participants raised bets on increased demand from consuming industries in the spot market against restricted arrivals from producing regions. At the Multi Commodity Exchange, mentha oil for delivery in August was trading higher by Rs 8, or 0.47 per cent, to Rs 1,677 per kg, clocking a business volume of 174 lots. The oil for September was trading higher by Rs 7.90, or 0.46 per cent, to Rs 1,717 per kg with a trading volume of 143 lots. Marketmen said raising of bets by speculators, driven by surging demand from consuming industries at the spot market against restricted supplies from Chandausi led to the rise in mentha oil prices in futures trade.
Crude palm oil futures gain 0.21%
Crude palm oil prices went up by 0.21 per cent to Rs 595 per 10 kg in futures trade today as speculators widened their positions amid firm demand at the spot market. Besides, a positive trend in overseas markets supported the upmove. At the Multi Commodity Exchange, crude palm oil for September contract rose by Rs 1.30, or 0.21 per cent, to Rs 595 per 10 kg in a business turnover of 70 lots. Similarly, the oil for delivery in this month's contract went up by Re 1, or 0.16 per cent, to Rs 596.30 per 10 kg in 114 lots. Analysts said widening of positions by participants amid pick up in spot demand against tight stocks position on restricted supplies from overseas markets kept crude palm oil prices higher in futures trade.
India Aiming To Reduce Logistics Cost To Less Than 10% Of GDP By 2022
India's logistics sector is highly defragmented and the aim is to reduce the logistics cost from the present 14% of GDP to less than 10% by 2022, according to an update from the Department of Commerce. India's logistics sector is very complex with more than 20 government agencies, 40 partnering government agencies (PGAs), 37 export promotion councils, 500 certifications, 10000 commodities, 160 billion market size. It also involves 12 million employment base, 200 shipping agencies, 36 logistic services, 129 ICDs, 168 CFSs, 50 IT ecosystems and banks & insurance agencies. Further, 81 authorities and 500 certificates are required for EXIM.
Bajaj Finance Ltd rises for third straight session
The stock is quoting at Rs 2927, up 1.15% on the day as on 12:49 IST on the NSE. Bajaj Finance Ltd is up 59.95% in last one year as compared to a 16.48% jump in NIFTY and a 14.77% jump in the Nifty Financial Services index.
Hindustan Zinc Ltd gains for fifth session
The stock is quoting at Rs 291.8, up 1.96% on the day as on 12:44 IST on the NSE. Hindustan Zinc Ltd is up 1.85% in last one year as compared to a 16.52% gain in NIFTY and a 0.11% gain in the Nifty Metal.
Inox Leisure Ltd up for fifth session
The stock is quoting at Rs 241.8, up 1.92% on the day as on 12:44 IST on the NSE. Inox Leisure Ltd is up 1.43% in last one year as compared to a 16.52% drop in NIFTY and a 3.37% drop in the Nifty Media.
Wipro Ltd soars 0.67%, rises for fifth straight session
The stock is quoting at Rs 291.7, up 0.67% on the day as on 12:44 IST on the NSE. Wipro Ltd is up 0.34% in last one year as compared to a 16.52% spurt in NIFTY and a 44.41% spurt in the Nifty IT.
Wheat futures weaken by 0.10% on ample stocks
Wheat prices eased by 0.10 per cent to Rs 1,988 per quintal in futures trade today as speculators cut down holdings triggered by adequate stocks in the spot market. At the National Commodity and Derivatives Exchange, wheat for delivery in September month shed Rs 2, or 0.10 per cent to Rs 1,988 per quintal with an open interest of 3,770 lots. Market analysts said offloading of positions by traders driven by sufficient stocks position on increased arrivals from producing belts in the physical markets against low demand, weighed on wheat prices in futures trade.
Copper futures rise 0.84 pc on overseas cues
Copper prices were up by 0.84 per cent to Rs 414.20 per kg in futures trade today as speculators built up fresh positions amid positive global cues. Moreover, uptick in demand from consuming industries at the domestic spot market also fuelled the uptrend. At the Multi Commodity Exchange, copper for delivery in August was trading higher by Rs 3.45, or 0.84 per cent, to Rs 414.20 per kg in business turnover of 1479 lots. Similarly, metal for November rose by Rs 3.35, or 0.80 per cent, to Rs 421.65 per kg in 92 lots. Market analysts said sentiment bolstered after London copper price recovered from an early dip to trade higher for the first session in three today, as investors shrugged off the lack of a breakthrough in the US-China trade talks and sensed buying opportunities. Meanwhile, copper for delivery in three months was up by 0.4 per cent at USD 6,011 a tonne on the London Metal Exchange. Also, the most-traded October copper contract on the Shanghai Futures Exchange was up by 0.8 ...