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SEAMEC intimates of dry docking of vessel SEAMEC I
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Oil stocks decline, IT stocks gain
Volatility struck bourses in mid-morning trade as the key benchmark indices erased entire intrday gains and were trading a tad lower. At 11:19 IST, the barometer index, the S&P BSE Sensex, was down 3.98 points or 0.01% at 35,486.06. The Nifty 50 index was down 14.55 points or 0.14% at 10,754.60. Oil stocks declined. IT stocks gained.
NDTV shares surge 20% as Sebi orders open offer
Shares of NDTV today surged 20 per cent to hit its upper circuit limit at Rs 39 after Sebi ordered Vishvapradhan Commercial to make an open offer. Regulator Sebi yesterday ordered a little-known entity, Vishvapradhan Commercial, to make an open offer for NDTV for indirectly acquiring control of up to 52 per cent stake through a convertible loan of Rs 350 crore in 2009 'sourced' from a subsidiary of Reliance Industries. Stock of the company opened on a positive note at Rs 36, then soared further to Rs 39, up 20 per cent from its previous closing price on BSE. Similar movement was seen on NSE, where the stock opened at Rs 36.10, then gained further ground to touch Rs 38.80, up 19.94 per cent over its last close. Market analysts said the Bombay High Court order also acted as a trigger for the stock. The Bombay High Court yesterday directed the Reserve Bank of India to consider the compounding applications filed by NDTV in a case of alleged violation of Foreign Exchange Management Act ...
Gold futures slide 0.09% on global cues
Gold prices fell by 0.09 per cent to Rs 30,528 per 10 gram in futures trade today as speculators trimmed their positions, tracking a weak trend overseas. At the Multi Commodity Exchange, gold for delivery in far-month August declined by Rs 26 or 0.09 per cent to Rs 30,528 per ten grams in business turnover of 181 lots. Analysts said off-loading of positions by participants amid a weak trend overseas as the dollar firmed amid easing risk aversion and expectations of further interest rate hikes by the US Federal Reserve, eroded demand for the precious metal as a safe-haven, weighed on gold prices at futures trade here. Globally, gold fell 0.32 per cent to USD 1,254.16 an ounce, its lowest since mid-December last year in Singapore.
PSU OMCs tumble as crude oil boils
Shares of the state-run oil marketing companies fell by 4.38% to 5.68% at 10:59 IST on BSE after Brent crude prices moved higher.
Canada's Sun Life sees Asia profit doubling, eyes bigger stake in China venture
HONG KONG (Reuters) - Canada's Sun Life Financial Inc expects to double its profit in Asia over the next five years on strong demand for insurance in key markets like China where it was keen to raise its ownership in a joint venture, its chief executive said.
Supply disruptions, U.S. attempts to shut out Iran buoy oil prices
SINGAPORE (Reuters) - Oil prices rose on Wednesday following supply disruptions in Libya and Canada and after U.S. officials told oil importers to stop buying Iranian crude from November.
Norway sells remainder stake in SAS airline
OSLO (Reuters) - The Norwegian government has completed the planned sale of its remaining 9.88 percent stake in Scandinavian airline SAS, the country's ministry of trade and industry said on Wednesday.
Robust demand lifts lead futures by 0.30%
Lead prices were up by 0.30 per cent to Rs 165.30 per kg in futures market today as speculators built up fresh positions after uptick in demand at the spot market. At the Multi Commodity Exchange, lead for delivery in June edged higher by 50 paise, or 0.30 per cent to Rs 165.30 per kg in business turnover of 351 lots. Likewise, the metal for delivery in July was trading higher by 45 paise, or 0.27 per cent to Rs 166.15 per kg in 150 lots. Analysts said fresh positions created by traders due to pick up in demand from battery-makers in the physical market mainly influenced lead prices at futures trade.
Weak spot cues drag down aluminium by 0.43%
Aluminium prices weakened by 0.43 per cent to Rs 149.65 per kg in futures trade today as speculators reduced their exposure amid a weak trend at the spot markets on tepid demand. At the Multi Commodity Exchange, aluminium for delivery in June declined by 65 paise, or 0.43 per cent to Rs 149.65 per kg in business turnover of 366 lots. Similarly, the metal for delivery in July was trading lower by a similar margin to Rs 149.40 per kg in 61 lots. Analysts said cutting down of positions by traders owing to slackened demand from consuming industries in the physical market weighed on aluminium prices in futures trade.
Copper futures fall on low demand; weak global cues
Copper futures fell 0.29 per cent to Rs 456.90 per kg today as speculators cut down their positions amid a weak demand at the domestic spot markets. Besides, a weak overseas trends also weighed on sentiments. At the Multi Commodity Exchange, copper for delivery in far-month August declined by Rs 1.35, or 0.29 per cent to Rs 456.90 per kg in a business turnover of 40 lots. The metal for delivery in June shed Rs 1.20, or 0.27 per cent to Rs 450.70 per kg in a business volume1 of 538 lots. Analysts said a weak trend at the domestic spot markets due to low demand from consuming industries and weak global cues, weighed on copper prices in futures trade here.
Volumes spurt at AU Small Finance Bank Ltd counter
AU Small Finance Bank Ltd notched up volume of 1.14 lakh shares by 10:47 IST on BSE, a 16.63 fold spurt over two-week average daily volume of 6828 shares
Crude oil futures up 0.83% on positive cues in Asia
Crude oil was trading higher by 0.83 per cent at Rs 4,855 per barrel in futures market today as speculators created fresh bets, taking positive cues from Asian markets. At Multi Commodity Exchange, crude oil for delivery in July rose by Rs 40 or 0.83 per cent to Rs 4,855 per barrel in a business turnover of 2,121 lots. Likewise, the oil for delivery in far-month August traded higher by Rs 37 or 0.78 per cent to Rs 4,790 per barrel in 102 lots. Analysts said speculators built fresh positions after oil prices rose in Asia as the US pressured allies to stop buying Iranian crude. This mainly led to rise in crude oil prices in futures trade here. Meanwhile, West Texas Intermediate gained 28 cents, or 0.40 per cent to USD 70.81 while Brent crude rose 37 cents, or 0.48 per cent to USD 76.68 per barrel.
China's solid industrial profits tamp trade war worries for now
BEIJING (Reuters) - Profits at China's industrial firms rose sharply in May, maintaining the previous month's sizzling pace despite signs of slowing momentum in the world's second-largest economy and an intensifying trade spat with the United States.
Moderate gains at Wall Street
Energy shares led the gains
Cement, telecom stocks decline
Key benchmark indices nudged higher in morning trade. At 10:21 IST, the barometer index, the S&P BSE Sensex, was up 63.61 points or 0.18% at 35,553.65. The Nifty 50 index was up 2 points or 0.02% at 10,771.15. Cement stocks declined. Telecom stocks fell.
Gold extends fall as safe-haven buying slows amid U.S. rate hike view
BENGALURU (Reuters) - Gold prices extended fall on Wednesday to a six-and-a-half-month low as the U.S. dollar steadied and investors increasingly turned to other safe-haven assets, amid expectations of more interest rate hikes by the U.S. Federal Reserve.
Majesco rises after AmCap Insurance goes live with P&C Core Suite
Majesco rose 1.72% to Rs 463.40 at 10:04 IST on BSE after the company said that American Capital Assurance Corporation went live with the Majesco P&C Core Suite, inclusive of policy, billing, and claims.
Board of Deep Industries approves change in directorate
At meeting held on 26 June 2018
Market opens on a flat note
A divergent trend was witnessed in early trade as the barometer index, the S&P BSE Sensex, was trading with small gains while the Nifty 50 index was trading with small losses. At 9:24 IST, the barometer index, the S&P BSE Sensex, was up 10.34 points or 0.03% at 35,500.38. The Nifty 50 index was down 5.70 points or 0.05% at 10,763.45. Most Asian stocks declined.