Page 3314 - Business Finance
Global Markets: Asia shares ease as trade war fears return, pound bewildered by politics
SYDNEY (Reuters) - Asian shares reversed early gains on Tuesday as anxieties about the Sino-U.S. trade war recast their long shadow over investor sentiment, while several high-profile resignations from Britain's government kept sterling on the defensive.
Old fashion: Vintage boom buoys RealReal and jolts luxury labels
PARIS/NEW YORK (Reuters) - Second-hand fashion, once confined to thrift stores, is outstripping sales growth in the primary luxury goods sector, helping market leader The RealReal expand its business and prompting international labels to look at tie-ups.
Wheat futures soften by 0.42% on ample stocks
Wheat prices weakened by 0.42 per cent to Rs 1,879 per quintal in futures trade today as speculators cut down their holdings, triggered by adequate stocks in the spot market on increased supplies. At the National Commodity and Derivatives Exchange, wheat for delivery in July declined by Rs 8, or 0.42 per cent, to Rs 1,879 per quintal with an open interest of 2,290 lots. Likewise, the wheat for delivery in August shed Rs 7, or 0.37 per cent, to Rs 1,890 per quintal in 7,110 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.
Trident Ltd leads gainers in 'A' group
Sadbhav Engineering Ltd, Praj Industries Ltd, Info Edge (India) Ltd and Shriram Transport Finance Company Ltd are among the other gainers in the BSE's 'A' group today, 10 July 2018.
Castor seed futures down on profit-booking
Castor seed prices turned weak by Rs 15 to Rs 4,550 per quintal in futures trade today on liquidation of holdings by speculators at higher levels, driven by subdued spot markets sentiment. According to market players, castor seed futures prices met with resistance at existing levels, after profit booking by operators amid slackness in demand for consuming industries. At the National Commodity and Derivatives Exchange platform, castor seed delivery for August slipped by Rs 15 or 0.33 per cent to Rs 4,550 per quintal, having a business turnover of 1,24,390 open lots. Similarly, the delivery for July eased by Rs 13 or 0.29 per cent to Rs 4,508 per quintal, with an open interest of 40,910 lots.
Refined soya oil futures fall 0.31% on profit-booking
Refined soya oil prices drifted lower by 0.31 per cent to Rs 755.75 per 10 kg in futures market today as speculators booked-profits, driven by easing demand at the spot market against adequate stocks. At the National Commodity and Derivatives Exchange, refined soya oil for delivery in July declined by Rs 2.35, or 0.31 per cent, to Rs 755.75 per 10 kg with an open interest of 28,560 lots. Similarly, the oil for delivery in August shed Rs 1.55, or 0.20 per cent, to Rs 760.45 per 10 kg in 36,590 lots. Traders said, besides profit-booking, fall in demand in the physical markets against sufficient stocks position weighed on refined soya oil prices in futures trade.
Mentha oil extend gains, surge 3.96% on strong demand
Mentha oil was trading higher by 3.96 per cent to Rs 1,495 per kg in futures market today after participants raised bets, taking positive cues from spot market on pick-up in demand from consuming industries. Further, restricted supplies from the major producing belts of Chandausi in Uttar Pradesh, too, supported the uptrend in mentha oil prices. At the Multi Commodity Exchange, mentha oil for delivery in the current month was trading higher by Rs 57, or 3.96 per cent, at Rs 1,495 per kg clocking a business volume of 733 lots. The oil for August delivery was trading higher by Rs 56.10, or 3.85 per cent, to Rs 1,512.70 per kg with a trading volume of 226 lots. Marketmen said, raising of bets by speculators, driven by surging demand from consuming industries at the spot market against restricted supplies from Chandausi, led to the rise in mentha oil prices in futures trade.
Maize futures ease on profit-booking
Profit-booking by investors at existing levels amid downbeat physical market leads dragged the maize prices lower by Rs 9 to Rs 1,201 per quintal at the futures trade today. Market players attributed the slide in maize futures to profit booking by operators at higher levels in weak physical markets sentiment. At the National Commodity and Derivatives Exchange, maize delivery for July turned weak by Rs 9, or 0.74 per cent, to Rs 1,201 per quintal, with an open interest of 6,930 lots. Also, the delivery for August fell by Rs 6, or 0.48 per cent, to Rs 1,240 per quintal with an open interest of 9,320 lots.
Strong market breadth
Key benchmark indices held firm in mid-morning trade. At 11:21 IST, the barometer index, the S&P BSE Sensex, was up 226.93 points or 0.63% at 36,161.65. The Nifty 50 index was up 66.50 points or 0.61% at 10,919.40. Realty stocks gained. Shares of index heavyweight Reliance Industries (RIL) gained. Positive Asian stocks boosted sentiment on the domestic bourses.
Amid 'Jacindamania,' New Zealand businesses' pessimism may hurt growth
WELLINGTON (Reuters) - New Zealand's youngest-ever prime minister, Jacinda Ardern, has seen her popularity soar at home and abroad, but now must deal with a growing economic problem as gloomy business confidence heads in the opposite direction.
Nickel futures inch higher on rising demand
Nickel prices advanced by 0.76 per cent to Rs 976 per kg in futures market today as speculators increased their positions, taking positive cues from spot market on soaring demand. At the Multi Commodity Exchange, nickel for delivery in August rose by Rs 7.40, or 0.76 per cent, to Rs 976 per kg in a business turnover of 53 lots. Likewise, the metal for delivery in July edged higher by Rs 6.50, or 0.67 per cent, to Rs 970.80 per kg in 3,021 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 kept nickel prices higher in futures trade.
Barley futures rise 0.57% on firm spot cues
Barley prices moved higher for the second session by rising Rs 11.50 to Rs 1,541 per quintal in futures trade today as investor widened positions amid firm physical market sentiment. Market players said traders were raising their bets on the back of robust physical market, which led to the uptick in barley futures prices. In the spot market, thin arrivals and strong demand for beer makers kept the prices positive, they added. At the National Commodity and Derivatives Exchange, barley delivery for most traded August contract gained Rs 11.50, or 0.75 per cent, to Rs 1,541 per quintal with an open interest of 9,800 lots. The delivery of the immediate contract also advanced by Rs 9.50 or 0.63 per cent to Rs 1,511 per quintal, with an open interest of 2,200 lots.
Zinc futures rise 0.38% on positive spot cues
Zinc prices edged higher by 0.38 per cent to Rs 186.25 per kg in futures trade today as speculators raised bets, taking positive cues from the spot market on pick up in demand. At the Multi Commodity Exchange, zinc for delivery in July edged up by 70 paise, or 0.38 per cent, to Rs 186.25 per kg in a business turnover of 3,115 lots. Similarly, the metal for delivery in August inched higher by 55 paise, or 0.29 per cent, to Rs 187.30 per kg in 81 lots. Analysts said expansion of positions by participants due to pick-up in demand from consuming industries in the physical markets attributed to the gain in zinc prices in futures trade.
Copper futures gain 0.34% on firm overseas trend
Copper prices strengthened by 0.34 per cent to Rs 445.15 per kg in futures trade today as speculators built up of fresh positions amid positive global cues. Besides, rising demand from consuming industries at the domestic spot market too fuelled the uptrend. At the Multi Commodity Exchange, copper for delivery in November went up by Rs 1.50, or 0.34 per cent, to Rs 445.15 per kg in a business turnover of 74 lots. Similarly, the metal for delivery in August edged up by Rs 1.45, or 0.33 per cent, to Rs 438.15 per kg in 1,924 lots. Market analysts said, sentiment remained firm after a rise in copper prices in London and Shanghai with investors looking to buy low after a trade war-fuelled sell-off last week. The United States on Friday slapped tariffs on USD 34 billion of goods from top metals consumer China, which responded in kind. Fears that the spat could dampen demand for industrial metals weighed on copper prices. Globally, copper for delivery in three-months rose by 0.5 per cent to
Steel Strips Wheels bags its largest export order for US truck & trailer aftermarket
Total revenue generated by this additional order would be close to USD 5 million in 5 months which is also expected to be repeated.
JK Cements to table results
On 28 July 2018
Miven Machine Tools to declare Quarterly Result
On 24 July 2018
IndiGo puts 1.2 million seats on sale at Rs 1,212
In the largest discounted ticket sale offer by a domestic carrier, no-frills airline IndiGo has put 1.2 million seats up for grabs with fares starting at Rs 1,212 for travel across its flight network, including overseas destinations. The bookings begin today for the four-day 'mega anniversary sale' offer for travel period from July 25 to March 30 next year, IndiGo said in a release. "IndiGo is offering customers a four-day special sale starting at Rs 1,212 effective from July 10 till July 13. As part of the mega sale, the airline is offering 12 lakh seats for travel between July 25, 2018 and March 30, 2019 across the 6E network including the international routes," it said. The country's largest airline by domestic market share, IndiGo currently opeartes 1,086 daily flights, connecting 42 domestic and eight international destinations. IndiGo's chief strategy officer William Boulter said, "We are delighted to announce this biggest sale of Indian airline seats. IndiGo will .
Crude oil futures extend gains, up 1.31%
Crude oil prices advanced by 1.31 per cent to Rs 5,014 per barrel in futures market today as speculators increased positions, tracking a firm trend overseas. At Multi Commodity Exchange, crude oil for delivery in August advanced by Rs 65, or 1.31 per cent, to Rs 5,014 per barrel in business turnover of 473 lots. On similar lines, the oil for delivery in July was trading higher by Rs 63, or 1.25 per cent, to Rs 5,112 per barrel in 7,576 lots. Analysts said, expansion of positions by participants in line with a firming trend overseas, where oil prices rose today on shortage of supply, with Brent crude leading the way as oil workers in Norway are set to strike later in the day after failed wage talks, boosted sentiment in futures trade here. Meanwhile, West Texas Intermediate rose by 54 cents, or 0.73 per cent, to USD 74.39, while Brent crude gained 62 cents, or 0.79 per cent, to USD 78.69 per barrel.
Suspending fake accounts won't hurt user metrics: Twitter
While confirming a The Washington Post report that Twitter has been suspending as much as one million questionable accounts per day in recent months, the microblogging site refuted the claim that the move will lead to decline in the numbers of monthly active users.