Page 3049 - Business Finance
Mustard seed futures lift on physical cues
Mustard seed prices rose by Rs 10 to Rs 4,169 per quintal in futures trade today on the accumulation of bets in sync with encouraging physical markets leads. Marketmen said investors were raising their holdings on the back of rising demand for oil mills along with reduced supplies from producing belts in the spot markets, which led to the uptick in mustard seed futures prices. At the National Commodity and Derivatives Exchange platform, mustard seed delivery for the September contract rose by Rs 10, or 0.24 per cent, to Rs 4,169 per quintal clocking an open interest of 84,000 lots. Similarly, the delivery of the immediate contract August inched up by Rs 7, or 0.17 per cent, to Rs 4,125 per quintal with an open interest of 81,610 lots.
Guar seed futures move up by Rs 25 per quintal
Guar seed prices traded higher by Rs 25 to Rs 4,466 per quintal in futures trade today on widened holdings in line with positive physical markets sentiments. Marketmen attributed the upmove in guar seed futures prices to increase demand for guar gum makers amid less arrivals from growing regions in the spot markets. At the National Commodity and Derivatives Exchange, guar seed delivery for the most active first contract October edged higher by Rs 25, or 0.56 per cent, to Rs 4,466 per quintal clocking an open interest of 1,16,470 lots. Likewise, the delivery of the second contract November edged up by Rs 23, or 0.51 per cent, to Rs 4,500 per quintal showing an open interest of 6,650 lots.
China's HNA Group announces management reshuffle
BEIJING/HONG KONG (Reuters) - China's HNA Group announced a management reshuffle on Thursday, in its latest move to calm worries about leadership at the conglomerate after the sudden death of its co-chairman, Wang Jian, during a business trip last month.
Wheat futures harden by 0.56% on speculative buying
Wheat prices rose by 0.56 per cent to Rs 1,982 per quintal in futures market today as speculators built up fresh positions. At the National Commodity and Derivatives Exchange, wheat for delivery in September went up by Rs 11, or 0.56 per cent, to Rs 1,982 per quintal with an open interest of 2,100 lots. Similarly, the wheat for delivery in August contracts edged up by Rs 3, or 0.15 per cent, to Rs 1,975 per quintal in 5,500 lots. Analysts said fresh positions created by traders due to improved demand in the physical market and a pause in arrivals from producing belts, mainly attributed the rise in wheat prices in futures trade.
Castor seed futures rise Rs 30 per quintal
Castor seed prices rose by Rs 30 per quintal in futures trade today as investors raised bets on emerging physical market trend. Marketmen said enhancing of the holdings by speculators induced by rising prices in the spot markets due to pick up in demand for soap, paint and lubricant industries amid a drop in ready stocks, drove the uptrend in castor seed futures prices. At the National Commodity and Derivatives Exchange, castor seed delivery for the immediate contract August gained by Rs 30, or 0.65 per cent, to Rs 4,644 per quintal with an open interest of 51,760 lots. The delivery of the most-traded second contract September strengthened by same margins of Rs 30, or 0.64 per cent, to Rs 4,690 per quintal with a business turnover of 1,01,920 open lots.
Oil steadies to trade higher after losses
TOKYO (Reuters) - Oil prices rose on Thursday, steadying after losses over the past two days from a surprise increase in U.S. crude inventories and renewed concerns over trade friction between the U.S. and China.
Volumes spurt at Tamil Nadu Newsprint & Papers Ltd counter
Tamil Nadu Newsprint & Papers Ltd notched up volume of 70568 shares by 10:47 IST on BSE, a 9.92 fold spurt over two-week average daily volume of 7112 shares
Robust demand lifts nickel futures by 0.24%
Nickel prices were up by 0.24 per cent to Rs 921.50 per kg in futures trade today as participants raised bets, taking positive cues from the spot market on uptick in demand. At the Multi Commodity Exchange, nickel for delivery in September rose by Rs 2.20, or 0.24 per cent, to Rs 921.50 per kg in a business turnover of 33 lots. Likewise, the metal for delivery in August contracts edged up by Rs 1.80, or 0.20 per cent, to Rs 917 per kg in 2,287 lots. Analysts said widening of positions by traders on the back of pick up in demand from alloy-makers in the spot markets influenced nickel prices in futures trade.
Positive global cues lift gold futures by 0.20%
Tracking a firm global trend, gold prices edged higher by 0.20 per cent to Rs 29,480 per 10 grams in futures trade today as speculators built up fresh positions. At the Multi Commodity Exchange, gold for delivery in August rose by Rs 58, or 0.20 per cent, to Rs 29,480 per 10 grams in a business turnover of 7 lots. Similarly, the yellow metal for delivery in October was trading higher by Rs 20, or 0.07 per cent, to Rs 29,698 per ten grams in 205 lots. Market analysts said fresh positions created by traders in sync with a firming global trend where gold inched higher, recovering from its fall in the previous session when the US Federal Reserve kept interest rates steady, influencing gold prices in futures trade. Globally, gold rose 0.21 per cent to USD 1,218 an ounce in Singapore.
Market extends early losses
Key benchmark indices extended early losses and hit fresh intraday low in morning trade. At 10:19 IST, the barometer index, the S&P BSE Sensex, was down 215.49 points or 0.57% at 37,306.13. The Nifty 50 index was down 60.95 points or 0.54% at 11,285.25. Weak cues from other Asian indices spoiled investors sentiment.
HEG scales record high after turnaround Q1 outcome
HEG advanced 1.92% to Rs 4,426 at 10:21 IST on BSE after the company reported net profit of Rs 770.30 crore in Q1 June 2018 as compared with net loss of Rs 8.43 crore in Q1 June 2017.
Security & Intelligence Services India acquires 51% stake in SLV Security Services
This is the first strategic transaction for SIS since its IPO. Last year, the company had notified the stock market about its Rs 1000 crore acquisition / investment corpus.
Musk aims 10,000 Tesla 'Model 3' cars per week
Buoyed by the increased production of Model 3 cars, electric car maker Tesla has reported a revenue of $4 billion in the second quarter of 2018, with $2.2 billion in cash in hand.
Siemens third-quarter industrial profit slightly beats expectations
MUNICH (Reuters) - Siemens reported a slightly better-than-expected industrial profit during its fiscal third quarter on Thursday as the German engineering group unveiled its new strategy with a trimmed-down number of divisions.
Crude oil futures gain 0.33% on positive global cues
Crude oil prices moved up by 0.33 per cent to Rs 4,580 per barrel in futures market today as participants raised bets, tracking a firm trend in the global markets. At the Multi Commodity Exchange, crude oil for delivery in September rose by Rs 15, or 0.33 per cent, to Rs 4,580 per barrel in a business turnover of 16 lots. Similarly, the oil for delivery in August contracts gained Rs 12, or 0.26 per cent, to Rs 4,641 per barrel in 717 lots. Marketmen said sentiment bolstered after oil prices rose in global markets, recouping a portion of the losses of the last two days that were driven by reports showing surprise gains in US inventories of crude, along with mounting concern over trade friction between the US and China. Meanwhile, West Texas Intermediate crude prices went up by 12 cent, or 0.18 per cent, to USD 67.78 a barrel while Brent crude edged up by 16 cent, or 0.22 per cent, to USD 72.55 a barrel on the New York Mercantile Exchange.
India's Q2 gold demand falls 8% to 187.2 tonnes: WGC
India's gold demand declined by 8 per cent at 187.2 tonnes during April-June period compared to second quarter of last year driven by to high local prices and seasonal factors, World Gold Council (WGC) said in a report. The total gold demand stood at 202.6 tonnes in the second quarter of 2017, WGC said in its Gold Demand Trends Q2 2018 report. In value terms, gold demand was Rs 52,692 crore, almost same as the second quarter of 2017 at Rs 52,750 crore. Total jewellery demand also dropped by 8 per cent during the quarter 147.9 tonnes compared to 161 tonnes in the same period last year. While in value terms, jewellery demand was down by 1 per cent at Rs 41,631 crore against Rs 41,925 crore in the same period last year. Total investment demand was down by 5 per cent at 39.3 tonnes compared with 41.6 tonnes in the same period in 2017. In value terms, however, gold investment demand was Rs 11,061 crore, up by 2 per per cent from Rs 10,825 crore in the same period last year. Meanwhile, the .
Grab sees strong demand from investors to buy into business: president
SINGAPORE (Reuters) - Southeast-Asian ride-hailing firm Grab is seeing strong demand from investors keen to buy into it, a top executive said on Thursday, after the company announced new investment of $1 billion from a clutch of financial firms.
Repo rate hike expected, RBI looking to minimize impact of rising inflation & support Rupee, Says FICCI
"The growth in industrial production index has shown an improvement in recent months, however, the underlying trend still reflects volatility. Also, while domestic investments have reported an uptick, these are yet to find a solid footing. As real interest rates in India continue to be on the higher side vis-a-vis some of our global counterparts, impacting the country's competitiveness, especially that of small and medium enterprises, we hope that the central bank would give greater attention to growth in the medium to long term", he added
Global Q2 gold demand falls by 4% to 964.3 tonnes: WGC
Global gold demand fell by 4 per cent in the April-June quarter at 964.3 tonnes from the same period last year mainly on account of slower inflows into gold-backed exchange-traded funds (ETFs) and drop in jewellery demand, World Gold Council (WGC) said in a report. The total gold demand stood at 1,007.5 tonnes in the second quarter of 2017, WGC said in its Gold Demand Trends Q2 2018 report. Total investment declined by 9 per cent to 281.4 per cent during the second quarter of this year compared to 310.3 tonnes in the same period last year. ETFs were down 46 per cent at 34 tonnes compared to 63 tonnes last year, however, European-listed funds saw decent inflows due to uncertainty stemming from Italian elections and monetary policy outlook and China, the world's largest gold market, saw a 7 per cent rise in consumer demand, it said. In contrast, the report said, holdings of North American-listed funds fell by 30.6 tonnes as investors focused on domestic economic strength. Global bar and
DBS lowers bar for Singapore lenders with second-quarter profit miss
SINGAPORE (Reuters) - DBS Group Holdings Ltd, Southeast Asia's biggest lender, reported lower-than-expected second-quarter profit on Thursday, sending its shares to an almost one-month low and raising concerns for the outlook of regional banks.