Page 3239 - Business Finance
Medi Caps to conduct board meeting
On 25 July 2018
Nickel futures rise 0.34% on global cues, strong demand
Nickel prices strengthened by 0.34 per cent to Rs 926.70 per kg in futures trade today as participants raised bets amid a firm trend overseas and unabated demand from alloy-makers at the domestic spot markets. At the Multi Commodity Exchange, nickel for delivery in August went up by Rs 3.10, or 0.34 per cent, to Rs 926.70 per kg in a business turnover of 1,345 lots. Similarly, the metal for delivery in August gained Rs 2.80, or 0.30 per cent, to Rs 930.50 per kg in 49 lots. Analysts said expansion of positions by traders and a firm trend in select base metals overseas, influenced the metal prices in futures trade here. Besides, pick up in demand from alloy-makers in the spot markets too supported the upmove, they added.
Zee firmly in picture after robust Q1 outcome
Zee Entertainment Enterprises rose 1.51% to Rs 525.10 at 10:35 IST on BSE after the company reported 31.27% rise in consolidated net profit to Rs 325.88 crore on 11.1% rise in total income to Rs 1823.54 crore in Q1 June 2018 over Q1 June 2017.
Market comes off day's high
Key benchmarks came off day's high and were trading with decent gains in morning trade. At 10:21 IST, the barometer index, the S&P BSE Sensex, was up 121.80 points or 0.33% at 36,641.76. The Nifty 50 index was up 44.35 points or 0.40% at 11,052.40. Positive leads from Asian markets and overnight gains on the Wall Street boosted investors sentiment.
Developed Corporate Bond Market Need Of The Hour For India To Achieve 8% Economic Growth - ASSOCHAM- APAS Joint Study
Given that PSBs (public sector banks) continue to face profitability and capital related challenges in the near to medium-term, overall banking sector credit growth is expected to remain subdued, thus vibrancy in the debt markets is critical to ensure a steady supply of credit to the various sectors of the economy, said an ASSOCHAM-APAS joint study titled, 'Essentials of investing in corporate bonds.'
Hong Kong Hang Seng gains 0.3%
Gains in city market mostly came after the Fed's Powell gave a positive assessment of the U.S. economy during his semi-annual congressional testimony on Tuesday, indicating that gradual interest rate increases were warranted. Powell also touched on the matter of trade disputes between the U.S. and its trading partners, saying it was "difficult to predict" the implications of those on the economy.
China Stocks rebound on bargain hunting
Chinese mainland stocks were down as much as 30% since their peak in January amid trade tensions. On July 6, U.S. President Donald Trump's administration officially instituted 25% duties on $34 billion worth of Chinese goods. China, for its part, swiftly responded by implementing retaliatory tariffs on the U.S. shortly afterward. The following week, the U.S. released a list of Chinese goods with an annual trade value of about $200 billion that may be subjected to 10% tariffs.
PNC Infratech advances after new order win
PNC Infratech rose 3.73% to Rs 155.80 at 09:39 IST on BSE after the company announced winning an order worth Rs 1157 crore for highway project in Karnataka.
Australia Market bounces on upbeat offshore lead
Shares of materials and resources companies were key contributor to the index gains despite lower base metal prices. BHP Billiton led the gains in the materials space after posting encouraging production numbers. The miner met or exceeded FY18 production guidance for petroleum, copper, iron ore & energy coal. BHP reported a 3% increase in total iron ore production for the 2018 financial year to a record 238 Mt (275 Mt on a 100 per cent basis). Western Australian Iron Ore (WAIO) production is expected to be between 241 and 250 Mt, or between 273 and 283 Mt on a 100 per in the 2019 financial year. Rio Tinto and Fortescue Metals were up in a range of 05%-1%.
Japan Market gains on upbeat offshore lead, yens soft tone
The European Union and Japan signed a broad trade deal Tuesday that will eliminate nearly all tariffs across a third of the global economy. Japanese consumers will pay lower prices for European wine and pork, while Japanese machinery parts, tea and fish will get cheaper for Europe. The deal has been in the works for years and contrasts with the more protectionist approach of U.S. President Donald Trump.
Gold steady as dollar firms on U.S. Fed rate outlook
BENGALURU (Reuters) - Gold prices on Wednesday held steady near a one-year low hit in the previous session, as the dollar firmed after Federal Reserve Chairman Jerome Powell's U.S. economic outlook reinforced views the central bank is on track to steadily hike interest rates.
Sensex scales record high, Nifty holds above 11K
Extending yesterday's rally, the benchmark BSE Sensex jumped over 200 points to record a new high of 36,747.87 in early trade today amid buying by domestic institutional investors and easing global crude oil prices. The market rally was driven by strong buying on the oil & gas, banking, PSU and realty counters and strength in the rupee. The 30-share BSE index spurted by 227.91 points, or 0.62 per cent, to hit new high of 36,747.87, surpassing its previous record of 36,740.07 recorded on July 13. However, at 0950hrs, the index pared some gains and was trading 108.72 points, or 0.30 per cent, higher at 36,628.68. The gauge had gained 196.19 points in the previous session. The 50-share NSE Nifty also rose by 62.05 points, or 0.56 per cent, to 11,070.10. Traders said positive cues from other Asian markets, tracking overnight gains in the US market following upbeat remarks from Federal Reserve Chairman Jerome Powell during his congressional testimony boosted investor ...
Rupee rises 12 paise to 68.33 on sustained dollar-selling
The rupee firmed up by 12 paise to 68.33 against the US dollar on increased selling of the American currency by exporters and banks. Forex dealers said besides sustained selling of the greenback, a higher opening of the domestic equity markets boosted the rupee at the interbank forex market. However, the dollar's strength against some currencies overseas capped the gains of the domestic unit. The dollar firmed after Federal Reserve Chairman Jerome Powell's US economic outlook reinforced views that the central bank is on track to hike interest rates gradually. Yesterday, the local currency bounced back to settle at a fresh two-week high of 68.45 against the US currency, gaining 12 paise as crude oil prices beat a hasty retreat, easing inflation and trade deficit worries. Meanwhile, the benchmark BSE Sensex was surged 227.91 points, or 0.62 per cent, to hit an all-time high of 36,747.87 in opening trade today.
PSA eyeing Canada amid Trump auto tariff threat
French automaker Groupe PSA may turn to Canada rather than entering the US market if Washington follows through on threats to impose blanket tariffs on auto imports, the company's regional chief said yesterday. The company, which manufacturers the Citroen, Peugeot and Opel brands, had been planning a return by 2026 to the American market, which it left in 1991. "Tariffs would affect how fast and at what price point we return to the US market," PSA North America CEO Larry Dominique told reporters. President Donald Trump in May began a formal process which could result in raising US duties to 25 per cent on all imported autos and parts, goods valued at hundreds of billions a year. Meanwhile, Dominique said yesterday that, under a new free trade deal Canada was offering duty-free admission to European-made cars, meaning PSA could return to the North American market there instead. PSA is also planning entering the US market with a car-sharing service before selling autos. Dominique told ..
Markets open on higher note on Wednesday
The 30-scrip Sensitive Index (Sensex) on Wednesday opened on a positive note during the morning session of the trade.
Market opens higher on positive global cues
Key benchmark indices were trading higher in early trade, tracking positive leads from Asian markets and overnight gains on the Wall Street. At 9:20 IST, the barometer index, the S&P BSE Sensex, was up 178.35 points or 0.49% at 36,698.31. The Nifty 50 index was up 59.25 points or 0.54% at 11,067.30.
Oil prices drop amid surprise jump in U.S. stockpiles
TOKYO (Reuters) - Oil prices dropped on Wednesday after an industry group reported that U.S. crude inventories rose last week, defying analyst expectations for a significant reduction.
Zee Entertainment in spotlight after Q1 result
Zee Entertainment Enterprises' reported 31.27% rise in consolidated net profit to Rs 325.88 crore on 11.1% rise in total income to Rs 1823.54 crore in Q1 June 2018 over Q1 June 2017. The announcement was made after market hours yesterday, 17 July 2018.
Market may rise on positive global signals
Market is seen opening higher, tracking positive leads from Asian markets and overnight gains on the Wall Street. Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 34 points at the opening bell.
Global Markets: Japan stocks bounce as yen bows before strong dollar
SYDNEY (Reuters) - Asian shares followed Wall Street higher on Wednesday as a bullish outlook from the head of the U.S. central bank buoyed the dollar, lifted Tokyo shares to a one-month top and sent gold to a one-year trough.