Page 2938 - Business Finance
Jet Airways shares slump after co defers first-quarter results
NEW DELHI (Reuters) - Shares of India's leading full-service carrier Jet Airways Ltd fell as much as 14.5 percent in early trade on Friday after the company deferred its first-quarter results.
Eicher Motors gains after good Q1 results
Eicher Motors rose 2.42% to Rs 28,150 at 9:27 IST on BSE after consolidated net profit rose 25.36% to Rs 576.18 crore on 27.24% rise in net sales to Rs 2534.29 crore in Q1 June 2018 over Q1 June 2017.
Sensex slips below 38,000
Stocks edged lower in early trade, with the Sensex falling below the psychological 38,000 level. At 9:30 IST, the barometer index, the S&P BSE Sensex, was down 83.57 points or 0.22% at 37,940.80. The Nifty 50 index was down 20.70 points or 0.18% at 11,450.
Japan Market extends losses
Investors risk sentiments remained subdued amid escalating U.S.-China trade dispute raised concerns about the outlook for global economic growth. The Chinese Ministry of Commerce's announcement of 25% tariff on $16 billion worth of U.S. goods. The goods being targeted by China include large passenger cars and motorcycles as well as various fuels and fiber optical cables. The announcement by China came after the U.S. finalized a list of approximately $16 billion worth of Chinese imports that will be subject to a 25% tariff. The second tranche of tariffs, which are due to take effect on August 23rd, follows the first tranche of tariffs on approximately $34 billion of Chinese imports that went into effect on July 6th.
Sensex retreats from record high, down 106 pts
Retreating from its lifetime high, the BSE Sensex dropped 106 points in opening trade today on profit-booking in recent gainers amid a weak trend at other Asian markets. The 30-share barometer fell by 106.02 points or 0.27 per cent to 37,918.35, with banking, PSU, metal, realty and FMCG stocks falling up to 0.30 per cent. The gauge had gained 358.57 points in the previous two sessions. Brokers said apart from profit-booking at record levels, a weak trend at other Asian markets following overnight losses on Wall Street dented the trading sentiment. The wider NSE Nifty too receded from its record level and slipped 29.05 points, or 0.25 per cent to 11,441.65. SBI, Coal India, HDFC, Sun Pharma, RIL, Tata Steel, Axis Bank, Tata Motors, HDFC Bank, IndusInd Bank, Wipro and Bajaj Auto were trading in the negative zone, falling up to 1.53 per cent. Meanwhile, domestic institutional investors (DIIs) sold shares worth a net Rs 85.39 crore, while foreign portfolio investors (FPIs) bought shares
Australia Market edges lower
Shares of banks and financials were higher. Among top four banks, Commonwealth Bank of Australia, ANZ Bank, Westpac, and National Australia Bank were up in a range of 0.5% to 1%.
Oil mixed as Iran sanctions seen tightening market, trade spat weighs on trade
SINGAPORE (Reuters) - Oil markets on Friday were torn between concerns that the U.S.-China trade dispute would stall economic growth, while Washington's sanctions against Iran were expected to tighten supplies.
Rupee dives 17 paise against dollar in early trade
The rupee declined by 17 paise to 68.85 per dollar in early trade today due to appreciation of the American currency overseas. A weak trend at Dalal Street also weighed on sentiment at the Interbank Foreign Exchange market. Forex dealers said increased demand for the US currency from importers and its gains against other currencies overseas put pressure on the rupee. Yesterday, the domestic unit had ended lower by 5 paise to 68.68 against the US dollar on renewed buying interest for the greenback even as domestic equities remained in a triumphant mode. Meanwhile, the benchmark BSE Sensex slipped from its record high, falling 106.02 points, or 0.27 per cent, to 37,918.35. The NSE Nifty too fell 25.50 points, or 0.22 per cent, to 11,445.20 in early trade today.
Qualcomm reaches settlement in anti-trust case with Taiwan regulator
TAIPEI/SAN FRANCISCO (Reuters) - Mobile chipmaker Qualcomm Inc will settle an anti-trust case with Taiwanese regulators for about $93 million, and has also pledged to invest $700 million in Taiwan over the next five years.
Gold prices buoyed by global political tensions
BENGALURU (Reuters) - Gold prices held broadly steady in Asia on Friday after dipping the session before, drawing little support from global political tensions and turbulence in currency markets.
China could overtake Australia as biggest donor to Pacific
China could overtake Australia as the biggest donor to Pacific nations, but only if Beijing follows through on its promises of aid and support that are currently billions of dollars short of being realised, a new report said here on Friday.
Market may open on flat-to-positive note
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 4 points at the opening bell.
SBI in focus after board OKs selling minor stake in general insurance arm
State Bank of India (SBI) said that executive committee of central board (ECCB) accorded approval to explore and initiate the process of divestment upto 4% of stake of SBI in SBI General lnsurance Company to a non-promoter entity through small parcel share sale (SPSS). The announcement was made after market hours yesterday, 9 August 2018.
Oil dips as U.S./China trade dispute expected to stall economic growth
SINGAPORE (Reuters) - Oil prices fell on Friday, pulled down by concerns that the escalating trade dispute between the United States and China would stall economic growth and fuel demand.
Singapore's Golden Gate Ventures launches $10 million crypto fund
SINGAPORE (Reuters) - Singapore-based venture capital firm Golden Gate Ventures said on Friday it will launch a $10 million fund to invest in cryptocurrency and blockchain technology startups.
Hong Kong's second-quarter GDP growth seen moderating amid trade war, rate hikes
HONG KONG (Reuters) - Hong Kong's economic growth is expected to have eased in the second quarter after a robust performance in the first three months, while escalating trade tensions and higher U.S. interest rates pose broader risks to growth this year.
PM Modi to address farmers, entrepreneurs on World Biofuel Day
Prime Minister Narendra Modi will on Friday attend an event and address a diverse gathering at Vigyan Bhawan to mark World Biofuel Day.The gathering will include farmers, scientists, students, entrepreneurs, government officials, and legislators during the event, said a government statement on Thursday.The Ministry of Petroleum and Natural Gas is organising the programme to mark the importance of biofuels and to highlight the various efforts made by the Government in the biofuel sector. The ministry has been observing the World Biofuel Day for the last three years on August 10.Biofuels have synergies with various Government initiatives, including enhancing farmers' incomes, and Swachh Bharat, the statement read. It further said that as a result of the efforts of the Centre, ethanol blending in petrol has increased to 141 crore litres in financial year 2017-18, as compared to 38 crore litres in 2013-14.The Government also approved the National Policy on Biofuels in June.Biofuels help ..
Asian shares down on trade anxiety; lira, rouble hit by economic worries
SHANGHAI (Reuters) - Asian stock markets fell on Friday amid heightened global trade tensions, while currency markets were whipsawed by a searing selloff in Russia's rouble after the United States slapped on new sanctions, and as economic worries sent the Turkish lira tumbling.
Russia, China object to U.S. proposal to blacklist Russian bank at U.N.: diplomats
UNITED NATIONS (Reuters) - Russia and China on Thursday objected to a U.S. proposal to add a Russian bank, Moscow-based North Korean banker and two other entities to a U.N. Security Council blacklist, diplomats said.
Exclusive: Tesla's board seeking more information on Musk's financing plan - sources
(Reuters) - Tesla Inc's board has not yet received a detailed financing plan from CEO Elon Musk, and is seeking more information about how he will take the U.S. electric car maker private in a proposed deal worth $72 billion, people familiar with the matter said on Thursday.