Page 41 - Business Finance
Hong Kong Market gains 1%
The US market ended modestly higher on Monday, amid investor caution ahead of a highly anticipated Federal Reserve meeting, which is expected to give further hints about what would be the central bank's first rate cut in more than a decade. On Wall Street, the Dow closed up 0.1% at 26,112.53. The Fed raised rates nine times over the last three and a half years as the economy recovered and put millions of Americans back to work. But President Donald Trump's aggressive tariff policies have shaken confidence and some central bankers have begun to acknowledge a chill in the air.
Workers wasting too much time to figure out tasks at hand
Employees worldwide spend more than 25 per cent of their time searching for the information they need to perform their jobs, and managers more than half of their time executing routine tasks, a new report said on Tuesday.
Copper futures rise on firm spot demand, global cues
Copper prices were up by 0.26 per cent at Rs 410.90 per kg Tuesday on the back of firm global cues amid pick up in domestic market. On the Multi Commodity Exchange, copper contracts for June delivery rose by Rs 1.05, or 0.26 per cent, to Rs 410.90 per kg in a business turnover of 27,128 lots. Market analysts said increased demand from consuming industries and a firm trend in base metals in global market mainly influenced copper prices here.
Zinc futures shed 0.32% on tepid demand
Zinc prices eased 0.32 per cent to Rs 204.80 per kg in futures trade Tuesday as speculators cut down positions, taking weak cues from the spot market. On Multi Commodity Exchange, zinc for delivery in current month declined 65 paise, or 0.32 per cent, to Rs 204.80 per kg in a business turnover of 4,841 lots. Marketmen said weakness in metals in the domestic spot market owing to slackened demand from consuming industries influenced prices.
Piramal Enterprises Ltd drops for fifth straight session
Piramal Enterprises Ltd is quoting at Rs 1948.9, down 2.66% on the day as on 13:24 IST on the NSE. The stock tumbled 23.45% in last one year as compared to a 9.13% rally in NIFTY and a 13.74% fall in the Nifty Pharma index.
Cadila Healthcare Ltd down for fifth straight session
Cadila Healthcare Ltd is quoting at Rs 236.95, down 2.45% on the day as on 13:24 IST on the NSE. The stock tumbled 42.06% in last one year as compared to a 9.13% rally in NIFTY and a 13.74% fall in the Nifty Pharma index.
Biocon Ltd down for fifth straight session
Biocon Ltd is quoting at Rs 245.25, down 0.02% on the day as on 13:24 IST on the NSE. The stock tumbled 19.43% in last one year as compared to a 9.13% rally in NIFTY and a 13.74% fall in the Nifty Pharma index.
TV18 Broadcast Ltd slips for fifth straight session
TV18 Broadcast Ltd is quoting at Rs 25.7, down 1.15% on the day as on 13:24 IST on the NSE. The stock tumbled 54.27% in last one year as compared to a 9.13% rally in NIFTY and a 33.79% fall in the Nifty Media index.
NIIT Technologies Ltd drops for fifth straight session
NIIT Technologies Ltd is quoting at Rs 1318.15, down 0.01% on the day as on 13:24 IST on the NSE. The stock jumped 19.39% in last one year as compared to a 9.13% rally in NIFTY and a 17.51% spurt in the Nifty IT index.
Edelweiss Financial Services Ltd slips for fifth straight session
Edelweiss Financial Services Ltd is quoting at Rs 172, down 2.33% on the day as on 13:24 IST on the NSE. The stock tumbled 88.33% in last one year as compared to a 9.13% rally in NIFTY and a 21.13% spurt in the Nifty Financial Services index.
Reliance Infrastructure Ltd down for fifth straight session
Reliance Infrastructure Ltd is quoting at Rs 49.45, down 12.24% on the day as on 13:24 IST on the NSE. The stock tumbled 88.33% in last one year as compared to a 9.13% rally in NIFTY and a 14.83% spurt in the Nifty Energy index.
Maruti Suzuki India Ltd slips for fifth straight session
Maruti Suzuki India Ltd is quoting at Rs 6526.4, down 0.84% on the day as on 13:24 IST on the NSE. The stock tumbled 26.36% in last one year as compared to a 9.36% rally in NIFTY and a 28.76% fall in the Nifty Auto index.
Bharat Forge Ltd eases for fifth straight session
Bharat Forge Ltd is quoting at Rs 441.6, down 0.25% on the day as on 13:24 IST on the NSE. The stock tumbled 30.25% in last one year as compared to a 9.36% rally in NIFTY and a 28.76% fall in the Nifty Auto index.
TVS Motor Company Ltd eases for fifth straight session
TVS Motor Company Ltd is quoting at Rs 456.85, down 0.19% on the day as on 13:24 IST on the NSE. The stock tumbled 21.86% in last one year as compared to a 9.36% rally in NIFTY and a 28.76% fall in the Nifty Auto index.
Tata Motors Ltd down for fifth straight session
Tata Motors Ltd is quoting at Rs 158.65, down 0.06% on the day as on 13:24 IST on the NSE. The stock tumbled 47.99% in last one year as compared to a 9.36% rally in NIFTY and a 28.76% fall in the Nifty Auto index.
Gold futures up Rs 124 on spot demand
Gold prices edged up by Rs 124 to Rs 33,145 per 10 gram at futures trade Tuesday on firm demand by local jewellers at the spot market. On the Multi Commodity Exchange, gold to be delivered in August contracts was up by Rs 124, or 0.38 per cent, to trade at Rs 33,145 per 10 gram in a business turnover of 18,135 lots. According to analysts, raising of bets by speculators at current levels mainly pushed up gold prices at futures trade here . Globally, gold was trading 0.44 per cent up at USD 1,348.80 an ounce in New York.
China Market edges higher ahead of Fed meeting
The Fed, facing fresh demands by US President Donald Trump to cut interest rates, begins a two-day meeting later on Tuesday. The central bank is expected to leave borrowing costs unchanged this time but possibly lay the groundwork for a rate cut later this year. Focus is now on how close the Fed could be to cutting interest rates amid the raging US-China trade war, signs of the economy losing steam and pressure by President Trump to ease policy.
Benchmarks sharply pare gains
The market sharply pared gains in the afternoon trade. At 13:28 IST, the barometer index, the S&P BSE Sensex, was up 80.70 points or 0.21% at 39,041.49. The Nifty 50 index was 18.95 points or 0.16% at 11,691.10. Gains in ICICI Bank and Infosys supported the benchmark indices.
HDFC AMC shares tank nearly 7 pc
Shares of HDFC Asset Management Company fell nearly 7 per cent Tuesday as the firm decided to provide liquidity to certain fixed maturity plan schemes of HDFC MF to deal with cash crunch. In a BSE filing on Monday, HDFC AMC said it has decided to provide a liquidity arrangement to certain fixed maturity plan schemes of HDFC MF to deal with the illiquidity faced by such FMP schemes due to their exposure to NCDs issued by Essel Group firms. The NCDs were issued by Edisons Infrapower & Multiventures and Sprit Infrapower & Multiventures. The scrip tanked 6.66 per cent to Rs 1,801.05 on the BSE. At the NSE, shares plunged 6.81 per cent to Rs 1,800. In recent months, the mutual fund industry has been grappling with redemption pressure in the wake of debt crisis at various groups, including IL&FS, Essel and DHFL. This liquidity arrangement shall only apply in case of FMP schemes which have either already matured in April, 2019 and/or will mature till the standstill arrangement ...
Slowdown in agriculture, manufacturing may pull GDP down to 6.6 pc: Fitch
Global rating agency Fitch Ratings has cut forecast for India's gross domestic product (GDP) growth to 6.6 per cent for the current fiscal 2019-20, from 6.8 per cent projected three months ago, largely due to persistent slowdown in manufacturing and agriculture sectors.However, it retained GDP growth forecast for the next two years at 7.1 per cent and 7 per cent. "We see growth for FY 2019-2020 printing at 6.6 per cent, before stepping up to 7.1 per cent in FY 2020-2021 and 7.0 per cent in FY 2021-2022," Fitch said in its latest global economic outlook."The slowdown over the past year has been driven by steadily cooling activity in the manufacturing sector and, to a lesser extent, agriculture. Weaker momentum has been mainly domestically driven, though export growth has also faltered more recently," said Fitch.The development came amid mounting evidence of slowing economic growth with GDP growth hitting a five-year low of 6.8 per cent in 2018-19. The lower GDP growth figures were ...