Page 3885 - Business Finance
Usha Martin Ltd leads gainers in 'B' group
Panacea Biotec Ltd, Euro Ceramics Ltd, Bella Casa Fashion & Retail Ltd and 8K Miles Software Services Ltd are among the other gainers in the BSE's 'B' group today, 22 May 2018.
Key barometers turn flat
Key benchmarks were trading near flat line in early afternoon trade. At 12:17 IST, the barometer index, the S&P BSE Sensex, was up 7.26 points or 0.02% at 34,623.39. The Nifty 50 index was up 4.95 points or 0.05% at 10,521.65.
U.S., China nearing deal to remove U.S. sales ban against ZTE: sources
BEIJING (Reuters) - Washington and Beijing are nearing a deal that would remove an existing U.S. order banning American companies from supplying Chinese telecommunications equipment maker ZTE Corp, two people briefed on the talks told Reuters.
Global Markets: Strong dollar hits Asian share markets, oil surges
SYDNEY (Reuters) - Asian shares skidded on Tuesday as a strong dollar sapped demand for emerging market assets while surging oil prices stoked concerns about a flare-up in inflation and faster U.S. interest rate increases.
NSE drags Singapore Exchange to court over Indian derivatives products launch
Leading bourse NSE has dragged the Singapore Exchange (SGX) to court over the overseas bourse's plans to launch Nifty-based derivative products. SGX has, however, reiterated its plan to list the new Indian derivatives in June. "SGX has been notified by the National Stock Exchange of India (NSE) of an application made in the Bombay High Court for an interim injunction on our new products," the overseas exchange said in a statement issued today. "We have full confidence in our legal position and will vigorously defend this action," it added. SGX also said that it has informed NSE that India needs to maintain liquidity in its offshore equity derivatives market. Defending its move, SGX said that its new India futures and options, which have received the relevant regulatory approvals, will list in June 2018 and allow its clients to seamlessly transition their India risk management exposures. "Our new India equity derivative products are essential to enable institutional investors to ...
Barley futures ease on weak spot demand
Barley prices rolled down by Rs 5 to Rs 1,451 per quintal in futures trade today after cutting down holdings by the speculators in tune with weak physical demand. Market players mentioned the downturn in barley futures prices to sluggish demand for beer makers and mounting stocks on steady inflow of supplies from growing areas in the spot markets. At the National Commodity and Derivatives Exchange counter, barley delivery for June fell by Rs 5 or 0.34 per cent to Rs 1,451 per quintal, with an open interest of 12,570 lots. The Barley delivery of the second contract July also pulled down by same margins and percentage to Rs 1,470 per quintal, in an open interest of 5,730 lots.
Refined soya oil down 0.39% on weak spot cues
Refined soya oil prices eased further by 0.39 per cent to Rs 784.20 per 10 kg in futures trade today as speculators engaged in trimming their positions, taking negative cues from spot market on sluggish demand. At the National Commodity and Derivatives Exchange, refined soya oil for delivery in July fell by Rs 3.05, or 0.39 per cent to Rs 784.20 per 10 kg with an open interest of 24,730 lots. In a similar fashion, the oil for delivery in June shed Rs 1.30, or 0.17 per cent to Rs 778 per 10 kg in 61,530 lots. Analysts said cutting down of positions by participants due to fall in demand in the physical market against sufficient stocks position on increased arrivals from growing regions, kept refined soya oil prices lower at futures trade.
Crude palm oil rises 0.40% on firm spot demand
Crude palm oil prices rose 0.40 per cent to Rs 669 per 10 kg in futures trade today as speculators increased positions amid a firm demand at the spot market. Besides, a firming trend in overseas markets supported the uptrend. At the Multi Commodity Exchange, crude palm oil for delivery in June rose by Rs 2.70, or 0.40 per cent, to Rs 669 per 10 kg in a business turnover of 249 lots. Similarly, the oil for delivery in the current month went up by Rs 2.60, or 0.39 per cent, to Rs 667.80 per 10 kg in 245 lots. Analysts said widening of positions by participants amid pick-up in demand at the spot market against tight stocks position on restricted supplies from producing regions kept crude palm oil prices higher at futures trade.
Maize futures spurt 1.24 pc on spot demand
Maize prices traded higher by Rs 15 to Rs 1,221 per quintal in futures trade today on enlarging holdings, tracking strong physical cues. Market players attributed uptick in maize futures to rising prices in the spot markets due to restricted supplies from producing belts and heavy demand from poultry feed makers. At the National Commodity and Derivatives Exchange platform, maize delivery for July looked up by Rs 15 or 1.24 per cent to Rs 1,221 per quintal, in an open interest of 910 lots. In a similar manner, the maize delivery for the most active June edged up by Rs 8 or 0.67 per cent to Rs 1,204 per quintal, in a business turnover of 6,120 open lots.
Guar seed futures up by Rs 17.50 per quintal
Guar seed prices enquired higher by Rs 17.50 to Rs 3,800 per quintal in futures trade today after widening of bets by the participants in tune with robust physical demand. Market players said strong demand for guar gum makers amid fall in supplies from producing belts in the spot markets motivated traders to build up fresh positions, which indicated up trend in guar seed futures prices. At the National Commodity and Derivatives Exchange counter, guar seed delivery for June strengthened by Rs 17.50 or 0.46 per cent to Rs 3,800 per quintal, clocking an open interest of 89,020 lots. In a similar fashion, the delivery for July marked ahead by Rs 13.50 or 0.35 per cent to Rs 3,839.50 per quintal, depicting an open interest of 18,880 lots.
NYSE appoints Stacey Cunningham as first female president
(Reuters) - The New York Stock Exchange has appointed Chief Operating Officer Stacey Cunningham as its first female president, an NYSE spokeswoman told Reuters on Monday.
Mustard seed gains on firm physical trends
Tracking emerging spot markets lead, mustard seed prices rose by Rs 17 to Rs 3,977 per quintal in futures trade today after enhancing of holdings by the investors. At the National Commodity and Derivatives Exchange counter, mustard seed delivery for the most active June hardened by Rs 17 or 0.43 per cent to Rs 3,977 per quintal, showing the business turnover of 1,06,820 open lots. Also, the delivery for July edged up by Rs 16 or 0.40 per cent to Rs 4,018 per quintal, revealing an open interest of 51,830 lots. According to market players, participants were indulged in making fresh positions in tune with tight supplies and pick up in demand for oil mills in spot markets, which drove mustard seed futures prices upside.
Castor seed futures remain up on spot demand
Castor seed prices maintained upward run for the second straight day by adding another Rs 16 to Rs 4,050 per quintal in futures trade today on the expansion of exposures by the investors, driven by upbeat physical market cues. Market players said, investors went for long positions on the back of rising prices at spot markets due to tight supplies against brisk demand from consuming industries such as soap, paint and lubricant makers, mainly held prices positively for the second consecutive day. At the National Commodity and Derivatives Exchange platform, castor seed delivery for the most traded June advanced by Rs 16 or 0.40 per cent to Rs 4,050 per quintal, with the business turnover of 95,220 lots. Similarly, the delivery for July gained by Rs 15 or 0.37 per cent to Rs 4,095 per quintal, in an open interest of 22,300 lots.
Strides Shasun Ltd leads gainers in 'A' group
Jaiprakash Associates Ltd, NCC Ltd, Bajaj Holdings & Investment Ltd and Ashok Leyland Ltd are among the other gainers in the BSE's 'A' group today, 22 May 2018.
Oil prices firm with Brent nearing $80 on supply worries
SINGAPORE (Reuters) - Oil prices rose on Tuesday, with Brent edging closer to $80 per barrel, on concerns that Venezuela's crude output could drop further following a disputed presidential election and potential U.S. sanctions on the OPEC-member.
Sony to become world's No.1 music publisher with $2.3 billion EMI deal
TOKYO (Reuters) - Sony Corp said on Tuesday it would pay about $2.3 billion to gain control of EMI, becoming the world's biggest music publisher in an industry that has found new life in streaming services.
Muted demand drags down mentha oil by 1.51%
Mentha oil prices softened by 1.51 per cent to Rs 1,295 per kg in futures trade today as speculators trimmed positions, driven by tepid demand from consuming industries at the spot market. Besides, ample stocks position on higher supplies from major producing belt of Chandausi in Uttar Pradesh too fuelled the downtrend. At the Multi Commodity Exchange, mentha oil for delivery in the current month declined by Rs 19.90, or 1.51 per cent to Rs 1,295 per kg in business turnover of 205 lots. On similar lines, the oil for delivery in June shed Rs 8.90, or 0.76 per cent to Rs 1,166 per kg in 119 lots. Analysts said off-loading of positions by participants on the back of sluggish demand from consuming industries in spot market against adequate stocks position, mainly weighed on mentha oil prices at futures trade.
Nickel sheds 0.50% on muted demand
Nickel prices fell further by 0.50 per cent to Rs 995 per kg in futures trading today as speculators engaged in reducing their positions, tracking a weak trend at spot market on tepid demand. At the Multi Commodity Exchange, nickel for delivery in May declined by Rs 5, or 0.50 per cent to Rs 995 per kg in business turnover of 1,751 lots. Similarly, the metal for delivery in June was trading lower by Rs 4.50, or 0.45 per cent to Rs 1,000 per kg in 101 lots. Analysts said off-loading of positions by participants owing to slackened demand from alloy makers in the domestic spot market mainly kept nickel prices down at futures trade.
Gold prices slip as investors eye riskier assets
BENGALURU (Reuters) - Gold prices dipped slightly on Tuesday, hovering not far off a 2018 low struck in the previous session as a firm dollar near five-month highs and optimism in global markets curbed appetite for the precious metal.
Cottonseed oil cake declines further on muted cues
Muted conditions remained unabated for cottonseed oil cake as prices fell by Rs 13 to Rs 1,259 per quintal at futures trade today on continuous liquidating of holdings by the speculators. Market players said pursuing lower physical markets cues, traders preferred to narrow holdings steadily, which kept the cottonseed oil cake futures prices negative for the second straight session. In spot markets, ample stocks on sustained arrivals along with the scarcity of demand from animal feed makers held prices down. At the National Commodity and Derivatives Exchange platform, cottonseed oil cake delivery for July went down by Rs 13 or 1.02 per cent to Rs 1,259 per quintal, in an open interest of 68,370 lots. In a similar way, the cottonseed oil cake delivery for June eased by Rs 5.50 or 0.44 per cent to Rs 1,244 per quintal, with the business turnover in 1,70,570 open lots.