Page 2780 - Business Finance
Crude palm oil futures up 0.13% as demand picks up
Crude palm oil prices edged up by 0.13 per cent to Rs 601.80 per 10 kg in futures market today as speculators raised bets following uptick in demand in the spot market. At the Multi Commodity Exchange, crude palm oil for delivery in September rose by 80 paise, or 0.13 per cent, to Rs 601.80 per 10 kg in business turnover of 60 lots. Similarly, the oil for delivery in August was trading up by 40 paise, or 0.07 per cent, to Rs 602.20 per 10 kg in 36 lots. Analysts said widening of positions by participants after pick up in demand in the physical market against adequate stocks position on fall in arrivals from growing regions, influenced crude palm oil prices in futures trade.
Global Markets: Asia shares nudge up with yuan, wary on Sino-U.S.talks
SYDNEY (Reuters) - Most Asian share markets crept cautiously higher on Monday as investors awaited developments on proposed Sino-U.S. trade talks and the Chinese yuan rallied away from alarming lows.
Sensex, Nifty hit highs; L&T gains on buyback proposal
(Reuters) - Indian share indexes rose to fresh highs on Monday buoyed by gains in Larsen & Toubro following a buyback proposal, while financials rose.
Zinc futures up 0.54% on spot demand
Zinc prices rose by 0.54 per cent to Rs 167.10 per kg in futures market today as participants built up positions tracking a firm global trend. At the Multi Commodity Exchange, zinc for delivery in August rose by 90 paise, or 0.54 per cent, to Rs 167.10 per kg, in a business turnover of 592 lots. Likewise, the metal for delivery in September was up by 90 paise, or 0.53 per cent, to Rs 167.50 per kg in 15 lots. Analysts said traders created fresh positions due to pick up in demand from consuming industries in the spot market and a firm trend in select base metals in global market, mainly influenced zinc prices at futures trade.
Jeera futures rise 0.91% on positive spot cues
Jeera prices rose by 0.91 per cent to Rs 20,060 per quintal in futures trade today as participants raised their bets taking positive cues from spot market on firm demand. Furthermore, tight stocks position on restricted arrivals from the growing regions also supported the uptrend. At the National Commodity and Derivatives Exchange, jeera for delivery in September shot up by Rs 180, or 0.91 per cent, to Rs 20,060 per quintal with an open interest of 7,806 lots. Likewise, the spice for delivery in August gained Rs 160, or 0.83 per cent, to Rs 19,535 per quintal in 129 lots. Analysts said expanding of positions by traders on the back of pick up in demand in the physical market against restricted arrivals from growing belts, mainly pushed up jeera prices in futures trade.
Metal & mining stocks shine
Key benchmark indices held firm in in mid-morning trade. At 11:27 IST, the barometer index, the S&P BSE Sensex, was up 289.60 points or 0.76% at 38,237.48. The Nifty 50 index was up 66.55 points or 0.58% at 11,537.30. Metal and mining stocks were in demand. Cement stocks rose. Positive Asian stocks boosted sentiment on domestic bourses.
Global Markets: Asia shares inch up, cautious on Sino-U.S. trade talks
SYDNEY (Reuters) - Asian share markets crept cautiously higher on Monday as investors awaited developments on proposed Sino-U.S. trade talks, while keeping a wary eye on the Chinese yuan and Turkish lira for any new signs of strain.
Global cues, rupee push equity indices higher
Positive global cues along with a recovery in the rupee value pushed the key indices of the Indian equity market higher during the pre-noon trade session on Monday.
L&T stocks jump over 6% on share buyback proposal
Shares of Larsen & Toubro today surged more than 6 per cent in morning trade on the bourses after the company said its board will meet on August 23 to consider a proposal for buyback of equity shares. In a regulatory filing on August 18, the company had said that "the board of directors will consider a proposal for buyback of equity shares of the company, at its meeting to be held on Thursday, August 23, 2018". Following the announcement, the shares of the company opened on a bullish note at Rs 1,300 then surged further and touched a high of Rs 1,319.65, up 6.39 per cent, over its previous closing price. Similar movement was seen on NSE as well, where the stock opened at Rs 1,300, then touched a high of Rs 1,319.95, up 6.43 per cent over its last close. Meanwhile, as per the company's internal Code for Prevention of Insider Trading, "the trading window for dealing in the securities of the company will be closed for the company's directors/officers and designated employees of the ..
Chana futures weaken by 0.67% on profit-booking
Chana prices fell 0.67 per cent to Rs 4,272 per quintal in futures market today as speculators booked profits amid fall in demand in the spot market. Besides, adequate stocks positions following increased arrivals from producing regions weighed on chana prices. At the National Commodity and Derivatives Exchange, chana for delivery in the current month fell by Rs 29, or 0.67 per cent, to Rs 4,272 per quintal with an open interest of 3,120 lots. Similarly, the commodity for delivery in September shed Rs 5, or 0.12 per cent, to Rs 4,320 per quintal in 4 lots. Analysts attributed the fall in chana futures to profit-booking by participants, driven by easing demand in the spot market against sufficient stocks position.
Refined soya oil futures gain 0.17% on spot demand
Refined soya oil prices rose by 0.17 per cent to Rs 740.60 per 10 kg in futures market today as speculators built up fresh positions after pick up in demand in the spot market. At the National Commodity and Derivatives Exchange, refined soya oil for delivery in September edged up by Rs 1.25, or 0.17 per cent, to Rs 740.60 per 10 kg with an open interest of 48,540 lots. On similar lines, refined soya oil for August was trading higher by 95 paise, or 0.13 per cent, to Rs 737.95 per 10 kg in 5,610 lots. Analysts said fresh positions by traders following uptick in demand in the spot market against restricted supplies from producing belts, attributed the rise in refined soya oil prices.
Mentha oil futures soften by 0.29% on low demand
Mentha oil futures drifted lower by 0.29 per cent to Rs 1,644 per kg in futures trade today as speculators trimmed their positions amid easing demand in the spot market against adequate stocks position. At the Multi Commodity Exchange, mentha oil for delivery in August declined by Rs 4.80, or 0.29 per cent, to Rs 1,644 per kg in business turnover of 64 lots. Likewise, the oil for delivery in September contracts traded lower by Rs 4, or 0.24 per cent, to Rs 1,682.60 per kg in 4 lots. Analysts said besides easing demand from consuming industries in the physical markets, adequate stocks position on increased arrivals from Chandausi in Uttar Pradesh mainly led to decline in mentha oil prices in futures trade.
Copper futures rise on firm overseas trend, spot demand
Copper prices rose by 0.47 per cent to Rs 409.55 per kg in futures trade today amid a firm global trend and pick up in spot demand. At the Multi Commodity Exchange, copper for delivery in August was up by Rs 1.90, or 0.47 per cent, to Rs 409.55 per kg, in a business volume of 456 lots. The November contract gained Rs 1.50, or 0.36 per cent, to Rs 416.90 per kg, in a business turnover of 23 lots. Marketmen attributed the rise in copper futures to a firming trend in base metals in global market as appetite for risk revived on hopes of progress in a trade dispute between the US and China, which undermined safe-haven demand for the dollar. Rising demand from consuming industries at domestic spot markets supported the upside, they said. Globally, copper for delivery in three months rose 0.9 per cent to USD 5,980 on the London Metal Exchange (LME). At Shanghai Futures Exchange copper rose by 0.9 per cent to 48,300 yuan (USD 7,026) per tonne.
Gold rises Rs 112 on positive global cues
Gold prices rose by Rs 112 to Rs 29,461 per 10 gram in futures trade today after speculators raised their bets amid a firm global trend. At the Multi Commodity Exchange, gold for delivery in October was trading higher by Rs 112, or 0.38 per cent, to Rs 29,461 per 10 gram, in a business turnover of 66 lots. The yellow metal for delivery in far-month December, too, advanced by Rs 87, or 0.29 per cent, to Rs 29,665 per 10 gram in just one lot. Analysts attributed the rise in gold prices in futures trade here to a firming trend overseas as hopes of easing trade tensions between the US and China exerted pressure on the dollar, adding to demand for the yellow metal that improved last week after prices touched 19-month lows. Meanwhile, gold was trading 0.05 per cent higher at USD 1,185.20 an ounce in Singapore.
Silver futures climb Rs 191 on firm global cues
Silver prices spurted by Rs 191 to Rs 36,969 per kg in futures trade today as the metal gained in global markets amid geopolitical tensions. In futures trade at the Multi Commodity Exchange, silver for delivery in September surged Rs 191, or 0.52 per cent, to Rs 36,969 per kg in a business turnover of 390 lots. The metal for delivery in December, too, was trading higher by Rs 169, or 0.45 per cent, to Rs 37,790 per kg in 6 lots. Market analysts said participants built up positions amid a firm global trend as hopes of easing trade tensions between the US and China exerted pressure on the dollar, adding to demand for precious metals. Meanwhile, silver surged 0.2 per cent to USD 14.78 an ounce in Singapore.
Exclusive: U.S. energy group Hess Corp's SE Asia assets attract bid interest - sources
SINGAPORE (Reuters) - The Southeast Asian offshore natural gas assets of U.S. oil and gas producer Hess Corp, estimated to be worth as much as $5 billion, have attracted takeover interest from firms including Thailand's PTTEP PCL and Austrian energy group OMV AG, people familiar with the matter said.
Oil prices slip on concerns over slowing economic growth
SINGAPORE (Reuters) - Oil prices fell on Monday as concerns over slowing economic growth dragged on markets.
Greece emerges from eurozone bailout programme
Greece has successfully completed a three-year eurozone bailout programme designed to help it cope with the fallout from its debt crisis, the media reported on Monday.
Strong US dollar to continue to weigh on rupee: DBS
The strong US dollar is expected to further weigh on the Indian rupee, which hit a low past the 70-mark against the greenback in recent foreign exchange movements, according to Singapore's DBS Bank Group today. "A challenging global environment has compelled the Reserve Bank of India (RBI) to intervene aggressively this year to contain INR depreciation. Foreign reserves have declined from a record high of USD 426 billion in April to USD 403 billion in early August, said the bank in its daily market report. Contagion worries from the US-Turkey saber-rattling hurt the emerging markets (EM) currencies, with the Indian rupee depreciating to a record low past 70 per USD (down 9 per cent year-to-date), noted DBS. Fund allocations away from EMs is likely to persist as the US Fed tightens policy. We expect further risk-off trades and USD strength to weigh on the Indian rupee, it said in the report India chart book: Growth is back, so is volatility. Comfortable adequacy ratios suggest there is
Volumes soar at Godrej Consumer Products Ltd counter
Godrej Consumer Products Ltd recorded volume of 2.22 lakh shares by 10:48 IST on BSE, a 12.8 times surge over two-week average daily volume of 17311 shares