Page 3252 - Business Finance
China still confident of hitting 2018 growth target despite slowdown, trade risks
BEIJING (Reuters) - China is still confident of hitting its economic growth target of around 6.5 percent this year despite views that it faces a bumpy second half as a trade row with the United States intensifies, the state planning agency said on Tuesday.
Global Markets: Asia stocks sag on oil's slide, dollar dips before Fed testimony
TOKYO (Reuters) - Asian stocks were mostly lower on Tuesday, with a sharp decline in crude oil prices weighing on energy shares, while the dollar dipped ahead of Federal Reserve Chairman Jerome Powell's first U.S. congressional testimony.
MCX faces technical glitch with trading system on 16 July 2018
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Broader market registers steep losses
Shares ended the volatile session with steep losses as mixed global cues spoiled investors sentiment. The barometer index, the S&P BSE Sensex, fell 217.86 points or 0.60% to 36,323.77, as per the provisional closing data. The Nifty 50 index fell 82.05 points or 0.74% to 10,936.85, as per the provisional closing data.
Market may open lower on negative Asian cues
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 1.50 points at the opening bell.
Volumes jump at Security & Intelligence Services India Ltd counter
Security & Intelligence Services India Ltd saw volume of 2.42 lakh shares by 10:47 IST on BSE, a 6.99 fold spurt over two-week average daily volume of 34566 shares
Broader market witnesses selling pressure
The Sensex was trading near the day's low while the Nifty hit fresh intraday low in mid-morning trade. At 11:20 IST, the barometer index, the S&P BSE Sensex, was down 90.35 points or 0.25% at 36,451.28. The Nifty 50 index was down 47.30 points or 0.43% at 10,971.60. The Nifty was trading below the psychologically important 11,000 mark in morning trade after opening above that level.
Negative market breadth
Key benchmark indices were trading near flat line in early trade. At 9:20 IST, the barometer index, the S&P BSE Sensex, was up 23.61 points or 0.06% at 36,565.24. The Nifty 50 index was down 10.40 points or 0.09% at 11,008.50.
Bharat Electronics gains after signing MoU
Bharat Electronics rose 1.18% to Rs 102.25 at 10:23 IST on BSE after the company signed a MoU with Saab, Sweden, for jointly marketing the L-Band 3D Air Surveillance Radar.
Breadth turns positive
Key barometers pared gains after hitting fresh intraday high in morning trade. At 10:24 IST, the barometer index, the S&P BSE Sensex, was up 67.89 points or 0.19% at 36,391.66. The Nifty 50 index was up 24.75 points or 0.23% at 10,961.60.
Corrected: China's new home prices hit fastest growth in almost 2 years, defy curbs
(Corrects monthly reference to June, not January, in the 8th paragraph)
Hong Kong Hang Seng falls 1%
Shares of energy companies declined as crude oil prices slipped after Libyan ports reopened and the market saw potential supply increases by Russia and other oil producers. CNOOC (00883) slid 2.5% to HK$12.68. PetroChina (00857) fell 2.8% to HK$5.56. Sinopec (00386) shed 0.6% to HK$7.04.
Sintex Plastics melts after dismal Q1 result
Sintex Plastics Technology lost 10.85% at Rs 32.85 at 10:11 IST on BSE after the company announced weak result for Q1 June 2018 after market hours yesterday, 16 July 2018.
Gold steadies amid firm dollar ahead of Fed speech
BENGALURU (Reuters) - Gold prices were steady on Tuesday, as the U.S. dollar remained largely unchanged ahead of U.S. Federal Reserve Chairman Jerome Powell's first congressional testimony.
China Stocks fall on GDP data
Amid trade tensions, Chinese mainland stocks are down almost 30% since their peak in January. 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.
Japan Market gains to 3-1/2-week highs on yens soft tone
Shares of export-related players gained, thanks to yen depreciation against greenback. A weaker yen tends to help Japanese exporters' profits made abroad when repatriated. Toyota Motor Corp and Nissan Motor Co advanced in a range of 0.5% to 1.5%.
China's new home prices hit fastest growth in almost two 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 rises over 100 pts after sharp fall in crude prices; OMC stocks rally
The BSE Sensex recovered over 107 points to 36,431.17 in early trade today on fresh buying by investors after a sharp drop on global crude oil prices and a strengthening rupee. The 30-share index, which had lost 224.64 points in the previous two sessions, rebounded 107.40 points, or 0.30 per cent, to 36,431.17 with stocks of oil & gas, FMCG, infrastructure, PSU, banking, consumer durables and auto sectors rising by up to 1.69 per cent. Similarly, the broader NSE Nifty was trading 40.20 points, or 0.37 per cent, higher at 10,977.05. Major gainers that supported the recovery were Tata Motors, Sun Pharma, Adani Ports, Yes Bank, Tata Steel, ICICI Bank, Vedanta Ltd, M&M, ONGC, RIL, Maruti Suzuki, Bajaj auto and Infosys. Shares of state-run oil marketing companies such as HPCL, BPCL and IOC were back in demand and rose by up to 3.34 per cent, supported by a sharp fall in crude prices. Shares of FMCG major Hindustan Unilever advanced 1.48 per cent to Rs 1,779.95 in early trade after .
Australia Market falls 0.5%
Shares of materials and energy companies were the biggest drag on the index, in response to a fall in crude oil and base metal prices. The reopening of Libyan ports after recent closures, and comments from Russian Energy Minister Alexander Novak's suggesting increase production weighed on crude oil prices. London Metal Exchange (LME) metal prices fell overnight, extending a 5-week decline. BHP Billiton was declining more than 1%. Santos and Woodside Petroleum were losing almost 2% each.
Jay Bharat Maruti gains after good Q1 earnings
Jay Bharat Maruti rose 1.48% to Rs 455.60 at 09:33 IST on BSE after the company reported 32.81% rise in net profit to Rs 13.44 crore on 34.1% rise in net sales to Rs 505.93 crore in Q1 June 2018 over Q1 June 2017.