Page 3029 - Business Finance
Nifty, Sensex rise after two days of falls, financials lead
(Reuters) - Indian shares rose on Friday after two consecutive sessions of falls, boosted by financial and energy stocks, and the latest weather office forecast of average rainfall during the last two months of the crucial monsoon season.
Muted demand drags down nickel futures by 0.17%
Nickel prices eased by 0.17 per cent to Rs 914.70 per kg in futures trade today as speculators reduced exposure amid easing demand in the spot market. At the Multi Commodity Exchange, nickel for delivery in August declined by Rs 1.60, or 0.17 per cent to Rs 914.70 per kg in business turnover of 4365 lots. Likewise, the metal for delivery in September weakened by 10 paise, or 0.01 per cent to Rs 920.20 per kg in 64 lots. Analysts attributed the fall in nickel futures to cutting down of positions on the back of easing demand from alloy-makers in the spot market.
Jeera futures fall 0.65% on profit-booking
Jeera prices fell by 0.65 per cent to Rs 20,335 per quintal in futures trade today as speculators trimmed their positions to book profits at prevailing levels amid lower domestic and exports demand at the spot market. Furthermore, ample stocks position following higher supplies from the producing belts, too, fuelled the downtrend. At the National Commodity and Derivatives Exchange, jeera for delivery this month fell by Rs 135, or 0.65 per cent, to trade at Rs 20,335 per quintal, with an open interest of 4,614 lots. Similarly, the spice for delivery in September moved down by Rs 80, or 0.38 per cent, to Rs 20,660 per quintal in 5,574 lots. Analysts said, besides profit-booking by speculators at existing levels, fall in demand at the spot market against adequate stocks position, put pressure on jeera futures.
Wheat futures slide 0.20% on ample stocks
Wheat prices drifted lower by 0.20 per cent to Rs 1,994 per quintal in futures market today as speculators cut down holdings, triggered by adequate stocks position in the spot market. At the National Commodity and Derivatives Exchange, wheat for delivery in September declined by Rs 4, or 0.20 per cent to Rs 1,994 per quintal with an open interest of 2780 lots. Likewise, the wheat for delivery in August shed Re 1, or 0.05 per cent to Rs 1979 per quintal in 5470 lots. Market analysts said off-loading of positions by traders on the back of sufficient stocks position on increased arrivals from producing belts in the physical markets against muted demand, weighed on wheat prices in futures trade.
M P Birla Cement's 3rd annual channel partner's conference 'Buniyad - Rishton Ki'
M P Birla Cement's third National Channel Partners' Conference, Buniyad - Rishton Ki, was grander than ever this time. After two successful national gatherings at Hyderabad and Mumbai, this time the national capital was the home for the Meet.The two-day event at Pullman Aerocity, New Delhi, was an experience to remember for the dealers. A total of 800 guests attended the event, including dealers, CFAs and Company officials.Recently at New Delhi, the entire team was taken on a trip to the Indian cultural theme park, Kingdom of Dreams. There the guests enjoyed the Bollywood musical, Zangoora, and a sumptuous meal at the famous Culture Gully.The main event took place the next evening at the Pullman Banquet Hall. The technological marvel of the 270-degree projection screen was the main attraction, justifying the theme of the event - Towards Better Future.Sandip Ranjan Ghose, Executive President, Marketing and Corporate Development, addressing the gathering, said the credo of Syt Madhav ...
PM reviews performance of key infrastructure sectors
In course of the presentation made by CEO NITI Aayog, Shri Amitabh Kant, it was noted that the pace of road construction has picked up significantly. The average road length constructed per day in FY 17-18 was 26.93 km, as compared to 11.67 km in FY 13-14.
Guar seed futures fall on negative physical cues
Guar seed prices slackened by Rs 23.50 to Rs 4,509 per quintal in futures trade today as traders trimmed holdings on the back of discouraging spot markets leads. Marketmen said, traders were reducing their holdings amid soaring stocks on persistent supplies from growing belts against weak demand from guar gum makers in the spot markets, which described down tick in guar seed futures prices. At the National Commodity and Derivatives Exchange counter, guar seed delivery for November slipped by Rs 23.50 or 0.52 per cent to Rs 4,509 per quintal, clocking an open interest of 6,960 lots. In a similar step, the delivery of the most-traded October ruled down by Rs 19 or 0.42 per cent to Rs 4,471 per quintal, revealing an open interest of 1,18,150 lots.
Global cues push equity indices higher; Nifty regains 11,300-mark
Positive global cues along with healthy quarterly results and value buying pushed the key Indian equity indices -- NSE Nifty50 and S&P BSE Sensex -- higher during the afternoon trade session on Friday.
Exports of jute products to rise despite concerns over quality
Despite challenges in procuring quality raw jute, exports of diversified products made of the golden fibre are expected to grow over 10 per cent to cross the Rs 600 crore mark in the current financial year, stakeholders say.
Castor seed futures down by Rs 23 per quintal
Castor seed prices came down by Rs 23 to Rs 4,737 per quintal in futures trade today on profit booking at higher levels, dampened by subdued physical markets sentiments. Marketmen said emerging of selling at prevailing levels as traders chose to book profit in pressure of downbeat spot markets leads, where prices dropped due to pick up arrivals from producing regions amid slackness in demand from consuming industries, pulled down the sentiments in castor seed futures prices. At the National Commodity and Derivatives Exchange platform, castor seed delivery for the most-traded second September turned weak by Rs 23 or 0.48 per cent to Rs 4,737 per quintal, with the business turnover in 1,19,440 open lots. Meanwhile, the delivery of the immediate contract August fell by Rs 18 or 0.38 per cent to Rs 4,690 per quintal, with an open interest of 38,980 lots.
Guar gum futures trade lower on weak export demand
Guar gum prices went down by Rs 33 to Rs 9,890 per quintal in futures trade today as operators cut down bets amid falling export demand and lower physical markets. Marketmen said cutting down of the holdings by the investors in sync with weak spot markets leads along with falling demand of export for oil drilling industries, mainly drove the downturn in guar gum futures prices. At the National Commodity and Derivatives Exchange platform, guar gum delivery for November eased by Rs 33 or 0.33 per cent to Rs 9,890 per quintal, in an open interest of 2,500 lots. In a similar way, the delivery for October moved down by Rs 22 or 0.22 per cent to Rs 9,795 per quintal, showing an open interest of 62,875 lots.
Oil supported as new hedges placed, but rising global supplies weigh
TOKYO/SINGAPORE (Reuters) - Oil prices were steady on Friday, supported by traders placing new hedges in the futures market in anticipation of a decline in U.S. crude inventories, but held back from advancing by the prospect of rising global supplies.
Gold futures drop 0.30% on global cues
Gold prices fell by 0.30 per cent to Rs 29,400 per 10 grams in futures trade today as speculators trimmed positions, backed by a weak trend overseas. At the Multi Commodity Exchange, gold for delivery in August moved down by Rs 87, or 0.30 per cent, to Rs 29,400 per ten grams in business turnover of two lot. Similarly, the yellow metal for delivery in October contract was trading lower Rs 73, or 0.25 per cent, to Rs 29,540 per ten grams in 936 lots. Analysts said offloading of positions by participants in tandem with a weak trend overseas amid firmer dollar weighed on gold prices at futures trade. Globally, gold fell 0.16 per cent to USD 1205.30 an ounce in Singapore.
Venkys (India) Ltd leads gainers in 'B' group
Hindustan Composites Ltd, Uttam Sugar Mills Ltd, Phillips Carbon Black Ltd and Tamil Nadu Petro Products Ltd are among the other gainers in the BSE's 'B' group today, 03 August 2018.
Market turns range bound
Key benchmarks were hovering in a narrow range near day's high in early afternoon trade. At 12:22 IST, the barometer index, the S&P BSE Sensex, was up 260.44 points or 0.70% at 37,425.60. The Nifty 50 index was up 78.05 points or 0.69% at 11,322.75. Shares jumped on bargain hunting after a recent sell off.
Jet Airways warns staff time and funds are running out: source
NEW DELHI (Reuters) - India's biggest full-service carrier Jet Airways Ltd has told its pilots the airline may be grounded in 60 days unless cost-cutting measures including pay cuts are put in place, a senior company executive told Reuters on Friday.
GIC Housing Finance announces change in directorate
At board meeting held on 03 August 2018
Inox Leisure Ltd leads gainers in 'A' group
Reliance Communications Ltd, PVR Ltd, Rattanindia Power Ltd and Torrent Pharmaceuticals Ltd are among the other gainers in the BSE's 'A' group today, 03 August 2018.
China July services new business growth weakest since December 2015: Caixin PMI
(Reuters) - China's services sector expanded at the weakest pace in four months in July, as there was the least growth in new business since December 2015, a private survey showed on Friday.
Allianz net profit drops, but on track to meet FY target
FRANKFURT (Reuters) - German insurer Allianz on Friday reported a 5-percent drop in second-quarter net profit from a year earlier, pulled down by the sale of its life insurance portfolio in Taiwan, but reaffirmed it's on track to meet 2018 profit target.