Page 3441 - Business Finance
Lead futures remain weak on low demand
Lead prices drifted lower by 0.06 per cent to Rs 164.05 per kg in futures trading today as speculators engaged in trimming their positions, tracking a weak trend at spot market on tepid demand. At the Multi Commodity Exchange, lead for delivery in June shed 10 paise, or 0.06 per cent to Rs 164.05 per kg in a business turnover of 519 lots. However, the metal for delivery in July contracts held steady at Rs 164.85 per kg in 43 lots. Analysts said trimming of positions by traders on the back of easing demand from battery makers in the physical market, mainly kept lead prices down at futures trade.
Nickel rises in futures trade on spot demand
Nickel prices went up by Rs 4.70 to Rs 1,006.70 per kg in futures trade today as speculators raised their bets, driven by rising demand at the domestic spot markets. In futures trading at the Multi Commodity Exchange, nickel for delivery this month spurted Rs 4.70, or 0.47 per cent, to Rs 1,006.70 per kg, in a business turnover of 599 lots. The metal for delivery in July was trading higher by Rs 4.10, or 0.41 per cent, to Rs 1,011.50 per kg in 68 lots. Analysts said the rise in nickel prices at futures trade was mostly due to strong demand from alloy-makers at the domestic spot markets.
Spot demand lifts zinc futures by 0.30 pc
Zinc prices edged up by 0.30 per cent to Rs 197.45 per kg in futures trading today as traders created fresh positions after demand picked up at the spot market. At the Multi Commodity Exchange, zinc for delivery in June month edged up by 60 paise, or 0.30 per cent to Rs 197.45 per kg in business turnover of 633 lots. On similar lines, the metal for delivery in July traded higher by 50 paise, or 0.26 per cent to Rs 196.45 per kg in 81 lots. Analysts said fresh positions created by participants due to pick up in demand from consuming industries in the spot market, mainly led to the rise in zinc prices at futures trade.
Aluminium futures remain firm on rising demand
Aluminium prices advanced by 0.20 per cent to Rs 147.60 per kg in futures trade today as speculators built up positions amid rising spot demand. At the Multi Commodity Exchange, aluminium for delivery in July month went up by 30 paise, or 0.20 per cent to Rs 147.60 per kg in business turnover of 2 lots. Likewise, the metal for delivery in current month edged higher by 15 paise, or 0.10 per cent to Rs 147.55 per kg in 93 lots. Analysts said widening of positions by participants on the back of soaring demand from consuming industries in the physical market mainly kept aluminium prices higher at futures trade.
Volumes spurt at Greenply Industries Ltd counter
Greenply Industries Ltd notched up volume of 5 lakh shares by 10:47 IST on BSE, a 591.87 fold spurt over two-week average daily volume of 846 shares
Oil up on Libya export worries, but trade row drags
SINGAPORE (Reuters) - Oil prices edged up on Tuesday on uncertainty over Libyan oil exports, but gains were dampened by an expected increase in supply from producer cartel OPEC and by an intensifying trade conflict between the United States and other major economies.
Vegoils: Palm oil sees sharpest decline in a week on slower exports
KUALA LUMPUR (Reuters) - Malaysian palm oil futures saw their sharpest fall in a week on Tuesday, and were in line to snap two earlier sessions of gains, due to slowing demand.
Gold futures slide 0.26 pc on weak global cues, profit-booking
Gold futures fell Rs 80 to Rs 30,876 per 10 grams today as participants booked profit amid a weakening global trend. In futures trade, gold for delivery in far-month October contract was trading Rs 80 or 0.26 per cent lower at Rs 30,876 per 10 grams in a business turnover of 4 lots at the Multi Commodity Exchange. On similar lines, the metal for delivery in August fell Rs 23 or 0.08 per cent to Rs 30,634 per 10 grams in 85 lots. Market analysts said the fall in gold futures was mostly in tune with a weak trend overseas coupled with profit-booking. Meanwhile, gold prices in global market retreated as much as 0.16 per cent to USD 1,263.10 an ounce in Singapore today.
Copper futures fall 0.33 pc on weak global cues
Copper futures fell 0.33 per cent to Rs 450.15 per kg today as speculators trimmed their positions amid a weak trend in global markets. Muted demand from consuming industries at the domestic spot market also put pressure on prices. At the Multi Commodity Exchange, copper for delivery in current month declined by Rs 1.50, or 0.33 per cent, to Rs 450.15 per kg, in a business turnover of 412 lots. The metal for delivery in far-month August fell Rs 1.45, or 0.32 per cent, to Rs 456.25 per kg, in a business volume of 41 lots. Analysts said a weak trend overseas with pressure from escalating trade tensions between the US and top metals consumer China, putting pressure on commodity and financial markets, largely weighed on copper prices at futures trade here. Sluggish demand at the domestic spot market too weighed on prices. Globally, copper for delivery in three-month was down 0.4 per cent to USD 6,731 per tonne at the London Metal Exchange (LME) and the most-traded contract for metal on ..
Dhruv Consultancy Services receives order worth Rs 93.80 lakh
From Madhya Pradesh Rural Development Authority
Ratnamani Metals rises after winning order
Ratnamani Metals & Tubes rose 1.54% to Rs 953 at 10:21 IST on BSE after the company said it received a domestic order for supply of welded carbon steel pipes valued at Rs 125.51 crore.
TechnipFMC India CSR initiative wins special recognition from GCNI
TechnipFMC has received a special recognition award for their flagship community development initiative in India, 'Seed of Hope', at the 13th National Convention 2018 held by Global Compact Network India on June 8 at Shangri-La, Bengaluru.Over 65 entities from private sector, public sector, NGOs and academic institutes contested in the Case Study Competition to demonstrate Innovative Practices on Sustainable Development Goals (SDGs). The shortlisted ones presented to the eminent jury panel, followed by Q&A round.TechnipFMC has been recognized by the jury panel as a responsible corporate citizen in private sector for their integrated village development project at Suva Village in Dahej, Gujarat under the aegis of their flagship CSR program - Seed of Hope. The project was initiated in late 2016 with an aim to improve the quality of life of the villagers of Suva in alignment with the UN SDGs framework:-enhancing the quality of education-improving access to healthcare-promoting skill .
Market turns volatile
Volatility ruled the roost in morning trade as the key benchmark indices trimmed almost entire intraday gains after staging a pullback from lower levels. At 10:25 IST, the barometer index, the S&P BSE Sensex, was up 24.97 points or 0.07% at 35,495.32. The Nifty 50 index was up 7.50 points or 0.07% at 10,769.95. FMCG stocks rose.
Singapore May factory output rises 11.1 percent
SINGAPORE (Reuters) - Singapore's industrial production in May rose 11.1 percent from a year earlier, helped by an acceleration in pharmaceutical and electronics output, data showed on Tuesday.
Crude oil futures up 0.24 pc on overseas cues
Crude oil prices rose 0.24 per cent to Rs 4,615 per barrel in futures market today as speculators created fresh bets, taking positive cues from the global market. At the Multi Commodity Exchange, crude oil for delivery in far-month August rose by Rs 11 or 0.24 per cent to Rs 4,615 per barrel in a business turnover of 57 lots. Likewise, the oil for delivery in July traded higher by Rs 7 or 0.15 per cent to Rs 4,665 per barrel in 558 lots. Analysts said speculators built fresh positions after oil prices rose in Asia today on uncertainty over Libyan oil exports, although plans by producer cartel OPEC to raise output continued to drag. Meanwhile, West Texas Intermediate gained 23 cents, or 0.34 per cent to USD 68.31 while Brent crude, the international benchmark for oil prices, rose 15 cents, or 0.20 per cent to USD 74.88 per barrel.
Gold inches down on U.S. rate hike prospects
BENGALURU (Reuters) - Gold prices edged lower on Tuesday, pressured by prospects of rising U.S. interest rates, while an easing dollar and escalating trade tensions between the United States and other major economies supported the metal.
Dollar falls vs yen amid growing worry of wider trade fights
TOKYO (Reuters) - The dollar slipped against the yen in Asian trade on Tuesday, hovering near a two-week low, as worries about an intensifying fight between the United States and its trade partners continued to slash risk appetites.
Mnuchin rebuts reports on new China investment restrictions
US Treasury Secretary Steven Mnuchin has denounced media reports detailing plans to impose restrictions on Chinese investment in US companies and on tech exports to China. The reports were widely cited Monday as helping to spark a global stocks selloff, with investors increasingly gloomy about the prospects of de-escalation in the emerging US-China trade war. The White House in late May announced plans to impose steep tariffs on Chinese goods, and follow up by June 30 with "specific investment restrictions and enhanced export controls for Chinese persons and entities related to the acquisition of industrially significant technology." The Wall Street Journal and Bloomberg News cited several sources saying the heightened US scrutiny of Chinese investment would fall under emergency national security powers. The law in question, the International Emergency Economic Powers Act, allows the president to regulate trade in response to foreign threats and has frequently been used to respond to .
Oil India gains after gas discovery in Andhra Pradesh
Oil India rose 0.86% to Rs 209.90 at 9:51 IST on BSE after the company announced hydrocarbon discovery in KG Basin, Andhra Pradesh.
Outcome of board meeting of Shree Surgovind Tradelink
Held on 25 June 2018