Page 3251 - Business Finance
Thyssenkrupp leadership vacuum revives restructuring hopes
FRANKFURT (Reuters) - Thyssenkrupp shares were indicated 3.4 percent higher early on Tuesday as analysts expect a deeper restructuring of the German submarines-to-elevators conglomerate after the resignation of its chairman.
Mentha oil futures slip 0.47% on subdued demand
Mentha oil prices went down by 0.47 per cent to Rs 1,532 per quintal in futures trade today, as speculators trimmed positions, driven by subdued demand from consuming industries at spot market. Moreover, ample stocks position on higher supplies from major producing belts of Chandausi in Uttar Pradesh, fuelled the downtrend. At the Multi Commodity Exchange, mentha oil for delivery in the current month contract declined by Rs 7.30, or 0.47 per cent, to Rs 1,532 per kg in a business turnover of 656 lots. Likewise, the oil for delivery in August traded lower by Rs 6.80, or 0.44 per cent, at Rs 1,551.50 per kg in 501 lots. Analysts said, offloading of positions by participants owing to slackened demand from consuming industries at the spot market against ample stocks position led to the decline in mentha oil prices in futures trade.
Cottonseed oil cake futures extend losses on weak spot cues
Cottonseed oil cake prices went down by Rs 25 to Rs 1,693.50 per quintal in futures trade today as participants indulged in liquidation of bets in tandem with a subdued trend at the physical markets. Marketmen said continued offloading of positions by investors tracking a subdued trend at the spot markets due to ample stocks on persistent supplies in the market amid ongoing good monsoon rains, mainly weighed on the prices of cottonseed oil cake in futures trade. At the National Commodity and Derivatives Exchange, cottonseed oil cake for delivery in July dropped by Rs 25, or 1.45 per cent, to Rs 1,693.50 per quintal, having an open interest of 540 lots. Similarly, contracts for delivery in August eased by Rs 13, or 0.74 per cent, to Rs 1,754 per quintal, showing an open interest of 1,04,520 lots.
Sastasundar Ventures Ltd leads gainers in 'B' group
Fortune Financial Services (India) Ltd, Tilaknagar Industries Ltd, 3P Land Holdings Ltd and OCL Iron & Steel Ltd are among the other gainers in the BSE's 'B' group today, 17 July 2018.
Market turns range bound
Key benchmarks turned range bound in early afternoon trade. At 12:17 IST, the barometer index, the S&P BSE Sensex, was up 29.49 points or 0.08% at 36,353.26. The Nifty 50 index was up 25.35 points or 0.23% at 10,962.20.
Silver futures weaken Rs 72 per kg on weak overseas cues
Silver prices fell by Rs 72 to Rs 38,970 per kg in futures trade today as speculators trimmed exposure amid a weak trend in global markets. At the Multi Commodity Exchange, silver for delivery in September traded lower by Rs 72, or 0.18 per cent, to Rs 38,970 per kg in a business turnover of 113 lots. In the international market, silver fell 0.16 per cent to USD 15.76 an ounce in Singapore. Analysts attributed the fall in silver futures trade to a weak trajectory in global markets as the US dollar remained largely unchanged ahead of the US Federal Reserve Chairman Jerome Powell's first congressional testimony.
Nifty, Sensex edge up; oil refiners, airlines gain
(Reuters) - Indian shares rose on Tuesday as oil companies such as Hindustan Petroleum Ltd gained on lower oil prices, but weakness in consumer stocks including Hindustan Unilever Ltd capped gains.
Cardamom futures up 2.83 pc on heavy demand
Cardamom prices rose further by 2.83 per cent to Rs 1,114.90 per kg in futures trading today on frantic buying by stockists and retailers due to heavy demand from domestic and export markets. Besides, worries on supply squeeze also triggered the upward trend. At the Multi Commodity Exchange, cardamom for delivery in August was trading higher by Rs 30.70, or 2.83 per cent, to Rs 1,114.90 per kg in a business turnover of 16 lots. The September contract of the spice traded higher by Rs 19.20, or 1.81 per cent, to Rs 1,080 per kg with trading volume of just one lot. Analysts said fresh positions created by traders backed by reports of damage to standing crops and a likely delay in supplies of fresh crop lifted cardamom prices notably.
Castor seed futures weaken by Rs 56 per quintal
Castor seed turned weak and prices fell by Rs 56 to Rs 4,424 per quintal in futures trade today on profit-booking by speculators amid a weak trend at the physical markets. Marketmen said offloading of positions by investors to book profits coupled with a weak trend at the spot markets due to muted demand from consuming industries, led to the fall in castor seed prices. At the National Commodity and Derivatives Exchange, castor seed for delivery this month fell by Rs 56, or 1.25 per cent, to Rs 4,424 per quintal, in a business turnover of 1,300 open lots. Also, the contract for August declined by Rs 52, or 1.15 per cent, to Rs 4,460 per quintal, with an open interest of 1,34,530 lots.
Gold futures fall Rs 47 on weak global cues
Gold futures fell Rs 47 to Rs 30,033 per 10 grams today as participants trimmed positions after a decline in global prices of the precious metal. The August contract of gold fell by Rs 47, or 0.16 per cent lower, at Rs 30,033 per 10 grams in a business turnover of 123 lots at the Multi Commodity Exchange. The October delivery too fell by Rs 32, or 0.11 per cent, to Rs 30,337 per 10 grams in one lot. Market analysts said the fall in gold futures was mostly in tune with a weak trend overseas as the US dollar remained largely unchanged ahead of the US Federal Reserve Chairman Jerome Powell's first congressional testimony. Gold prices fell 0.06 per cent to USD 1,240.20 an ounce in Singapore today.
Reliance Communications Ltd leads gainers in 'A' group
Union Bank of India, Jain Irrigation Systems Ltd, NCC Ltd and TV18 Broadcast Ltd are among the other gainers in the BSE's 'A' group today, 17 July 2018.
Upsurge in demand lifts lead futures 0.10 pc
Lead prices traded higher by 0.10 per cent to Rs 148.25 per kg in futures trading today as traders built up fresh positions after pick-up in demand at the spot market. At the Multi Commodity Exchange, lead for delivery in July edged higher by 15 paise, or 10 per cent, to Rs 148.25 per kg in a business turnover of 243 lots. On similar lines, the metal for delivery in August was trading higher by a similar margin to Rs 149.10 per kg in 14 lots. Analysts said fresh positions created by participants due to upsurge in demand from battery-makers in the physical market mainly led to the rise in lead prices at futures trade.
Aluminium rises 0.11 pc on high demand
Aluminium prices edged higher by 0.11 per cent to Rs 141.55 per kg in futures trade today as speculators raised bets, driven by pick-up in demand in the spot market. At the Multi Commodity Exchange, aluminium for delivery in July edged up by 15 paise, or 0.11 per cent, to Rs 141.55 per kg in a business turnover of 75 lots. Likewise, the metal for delivery in August was trading higher by 5 paise, or 0.04 per cent, at Rs 141.50 per kg in 2 lots. Analysts said widening of positions by participants following uptick in demand from consuming industries in the physical market, mainly attributed the rise in aluminium prices at futures trade.
Copper futures rise 0.78 pc on overseas cues, spot demand
Copper prices moved up by 0.78 per cent to Rs 424.75 per kg in futures trade today as speculators built up fresh positions amid positive global cues. Besides, uptick in demand from consuming industries at the domestic spot market fuelled the uptrend. At the Multi Commodity Exchange, copper for delivery in August went up by Rs 3.30, or 0.78 per cent, to Rs 424.75 per kg in a business turnover of 1,179 lots. Similarly, the metal for delivery in November was trading higher by Rs 3.15, or 0.73 per cent, to Rs 431.90 per kg in 9 lots. Market analysts said sentiment bolstered after copper prices bounced back in global markets today after coming under pressure in the previous session on concerns over slowing economic growth in top industrial metals consumer China. Meanwhile, copper for delivery in three-month had risen 0.7 per cent to USD 6,235.50 a tonne on the London Metal Exchange. Also, most-traded copper contract on the Shanghai Futures Exchange added 0.1 per cent to 49,040 yuan ...
Nickel futures up 0.70 pc on positive spot cues
Nickel prices rose by 0.70 per cent to Rs 937 per kg in futures market today as speculators increased positions, taking positive cues from spot market on surging demand. At the Multi Commodity Exchange, nickel for delivery in July went up by Rs 6.50, or 0.70 per cent, to Rs 937 per kg in a business turnover of 76 lots. On similar lines, the metal for delivery in August gained Rs 6.10, or 0.65 per cent, to Rs 941 per kg in 1,417 lots. Analysts said widening of positions by traders on the back of rising demand from alloy-makers at domestic spot markets and a firm trend overseas, mainly led to a rise in nickel prices at futures trade.
Robust demand lifts zinc futures 0.82 pc
Zinc prices went up by 0.82 per cent to Rs 172.20 per kg in the futures market today as participants built up fresh positions, taking positive cues from spot market on upsurge in demand. At the Multi Commodity Exchange, zinc for delivery in July rose by Rs 1.40, or 0.82 per cent, to Rs 172.20 per kg in a business turnover of 630 lots. In a similar fashion, the metal for delivery in August gained Rs 1.25, or 0.73 per cent, to Rs 172.25 per kg in 25 lots. Analysts said fresh positions created by traders, tracking a firm trend at the spot markets following pick up in demand from consuming industries led to a rise in zinc prices at futures trade.
China's new home prices hit fastest growth in almost 2 years, defy curbs
BEIJING (Reuters) - China's new home prices accelerated to their fastest pace in almost two years in June, with buyer demand in bigger cities resilient in the face of fresh curbs against speculation, a sign more restrictions may be needed.
Sensex, Nifty trade with small gains
The key indices were trading with small gains in mid-morning trade. At 11:17 IST, the barometer index, the S&P BSE Sensex, was up 47.95 points or 0.13% at 36,371.72. The Nifty 50 index was up 22.75 points or 0.21% at 10,959.60.
Wheat futures slide 0.93 pc on ample stocks
Wheat prices drifted lower by 0.93 per cent to Rs 1,913 per quintal in futures trade today as speculators cut down holdings triggered by adequate stocks in the spot market. In futures trading at the National Commodity and Derivatives Exchange, wheat for delivery in August fell by Rs 18, or 0.93 per cent, to Rs 1,913 per quintal with an open interest of 8,060 lots. Market analysts said offloading of positions by traders driven by sufficient stocks position on increased arrivals from producing belts in the physical markets against low demand, weighed on wheat prices in futures trade.
L&T Hydrocarbon Engineering bags onshore contract from HPCL-Mittal Energy
L&T Hydrocarbon Engineering has bagged an onshore EPC contract from HPCL-Mittal Energy for setting up cracker furnaces at their Bathinda Refinery in Punjab. "L&T Hydrocarbon Engineering (LTHE), a wholly owned subsidiary of Larsen & Toubro, has won a significant onshore EPC contract from HPCL-Mittal Energy for setting up 07 cracker furnaces of 1200 KTPA dual feed cracker unit (DFCU) at their Bathinda Refinery in Punjab," Larsen and Toubro said in a BSE filing. L&T's scope of work under the contract includes project management, residual engineering, procurement and supply of cracker furnace systems, components and auxiliaries. Shares of Larsen and Toubro were trading 0.25 per cent lower at Rs 1,279.35 apiece on the BSE in the morning trade today.