Tag: euity markets

Gold marginally higher on market uncertainty

Gold marginally higher on market uncertainty

19/07/2016 08:57

Gold futures closed higher in the domestic market on Monday with investors showing caution after a failed weekend coup in Turkey. Prices suffered a loss of 2.3% last week, their first weekly loss in nearly two months as record-high U.S. stocks and the Bank of England’s pass, for now, on cutting interest rates lured investors into riskier markets away from non-yielding gold.

At the MCX, Gold futures for August 2016 contract closed at Rs 31022, per 10 gram, up by 0.15 per cent after opening at Rs 30,901, against the previous closing price of Rs 30,977. It touched the intra-day high of Rs 31,140.

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White metal drops 0.35% on weak global cues

White metal drops 0.35% on weak global cues

19/07/2016 10:10

Silver futures were trading lower during the morning trade in the domestic market on Tuesday as investors and speculators remained on the sidelines tracking weak cues from overseas.

Further, decline in silver prices at the futures trade was largely inline with a weak trend in precious metals in global markets.

At the MCX, Silver futures for September 2016 contract is trading at Rs 47,000 per 10 grams, down by 0.35 per cent, after opening at Rs 47,027, against a previous close of Rs 47,167. It touched the intra-day low of Rs 46,980 (at 10:02 hours).

Markets trading flat: HUL, ITC shares dip

19/07/2016 10:28

The key domestic benchmark were trading near the flat line in the morning trading session as traders turned cautious on the upcoming quarterly earnings numbers of India Inc.

The investors also remained optimistic that the Modi government will be able to overcome the GST hurdle in the upcoming monsoon session of the Parliament which may bolster the outlook for Asia’s third biggest economy.

The investors are expected to continue eyeing the progress of the south-west monsoon rains amid hopes that a strong monsoon may help bolster rural demand and keep a check on gains in food prices.

At 10:20 AM, the Bombay Stock Exchange bellwether Sensex was at 27745.88 down by 0.78 points or by 0 per cent, while the NSE Nifty was at 8512.25 points, trading higher by 3.55 points or by 0.04 per cent.

The BSE Sensex touched an intraday high of 27804.73 and an intraday low of 27689.96 while the NSE Nifty touched an intraday high of 8525.95 and an intraday low of 8493.65

The top gainers of the BSE Sensex pack were Tata Motors Ltd. (Rs. 500.45,+1.58 per cent), ICICI Bank Ltd. (Rs. 267.40,+1.44 per cent), GAIL (India) Ltd. (Rs. 390.00,+0.89 per cent), Oil And Natural Gas Corporation Ltd. (Rs. 220.80,+0.82 per cent), Sun Pharmaceutical Industries Ltd. (Rs. 782.10,+0.70 per cent), among others.

Meanwhile, Hindustan Unilever Ltd. (Rs. 899.60,-2.27 per cent), ITC Ltd. (Rs. 246.35,-1.04 per cent), Hero MotoCorp Ltd. (Rs. 3222.00,-1.00 per cent), HDFC Bank Ltd. (Rs. 1219.80,-0.89 per cent), Wipro Ltd. (Rs. 549.15,-0.52 per cent), were among the top losers on BSE.

The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total 2091 shares traded, 1049 shares advanced, 942 shares declined while 100 were unchanged.

On the global front, Asian stocks were trading lower today as a downturn in crude oil curbed the enthusiasm from fresh record highs on Wall Street.

Markets open higher in early trade

19/07/2016 09:29

The key domestic benchmark opened higher in the morning trading session as traders remained focused on the quarterly earnings numbers of India Inc. while hopes rise that the Modi government will be able to overcome the GST hurdle in the upcoming monsoon session of the Parliament, bolstering the outlook for Asia’s third biggest economy.

The investors are expected to continue eyeing the progress of the south-west monsoon rains amid hopes that a strong monsoon may help bolster rural demand and keep a check on gains in food prices.

At 09:20 AM, the Bombay Stock Exchange bellwether Sensex was at 27781.33 up by 34.67 points or by 0.12 per cent, while the NSE Nifty was at 8514.3 points, trading higher by 5.6 points or by 0.07 per cent.

The BSE Sensex touched an intraday high of 27804.73 and an intraday low of 27767.77 while the NSE Nifty touched an intraday high of 8514.3 and an intraday low of 8514.3

The top gainers of the BSE Sensex pack were Adani Ports & Special Economic Zone Ltd. (Rs. 221.00,+1.38 per cent), Housing Development Finance Corporation Ltd. (Rs. 1355.00,+0.73 per cent), State Bank of India (Rs. 230.00,+0.61 per cent), ICICI Bank Ltd. (Rs. 265.00,+0.53 per cent), Sun Pharmaceutical Industries Ltd. (Rs. 780.00,+0.43 per cent), among others.

Meanwhile, Hindustan Unilever Ltd. (Rs. 905.00,-1.68 per cent), Bharti Airtel Ltd. (Rs. 360.00,-0.95 per cent), Wipro Ltd. (Rs. 548.00,-0.72 per cent), NTPC Ltd. (Rs. 155.10,-0.26 per cent), Tata Consultancy Services Ltd. (Rs. 2430.00,-0.14 per cent), were among the top losers on BSE.

The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total 385 shares traded, 253 shares advanced, 102 shares declined while 30 were unchanged.

On the global front, Asian stocks were trading mixed today as investors continued to weigh the prospects of further stimulus from central banks to bolster an economic recovery.

White metal drops 0.47% on weak global cues

White metal drops 0.47% on weak global cues

18/07/2016 10:22

Silver futures were trading lower during the morning trade in the domestic market on Monday as speculators remained on the sidelines tracking weak cues from overseas.

Further, decline in silver prices at the futures trade was largely inline with a weak trend in precious metals in global markets.

At the MCX, Silver futures for September 2016 contract is trading at Rs 47,051 per 10 grams, down by 0.47 per cent, after opening at Rs 47,036, against a previous close of Rs 47,275. It touched the intra-day low of Rs 47,023 (At 10:18 hours).

Cardamom futures drop on sluggish demand

Cardamom futures drop on sluggish demand

18/07/2016 11:57

Cardamom futures were trading lower during the noon trade in the domestic market on Monday as investors and speculators stayed cautious over booking fresh positions in the agri-commodity amid sluggish physical demand for cardamom in the domestic spot market.

Further, abundant supplies amid higher physical arrivals from the major cardamom producing belts in the country also exerted downward pressure on domestic cardamom prices. At the MCX, Cardamom futures for August 2016 contract is trading at Rs 887.20 per kg, down by 0.57 per cent, after opening at Rs 893.10, against a previous close of Rs 892.30. It touched the intra-day low of Rs 880.10(At 11:47 hours)

Crude Oil in reverse gear on ease of supply concerns

Crude Oil in reverse gear on ease of supply concerns

18/07/2016 11:06

Crude oil futures were trading lower during the morning trade in the domestic market on Monday as investors and speculators cut down their exposure in the domestic spot market after media reports that oil was flowing unhindered through Turkey’s pipelines and waterways after a failed coup attempt against President Recep Tayyip Erdogan.

Analysts said that traders cut short their positions at the spot market as traders dismissed worries of oil supply disruptions from the failed coup in Turkey over the weekend, influencing the downtrend at crude oil futures.

At the MCX, crude oil futures for July 2016 contract is trading at Rs 3,080 per barrel, down by 0.03 per cent, after opening at Rs 3,099, against a previous close of Rs 3,081. It touched the intra-day low of Rs 3,080 (At 10:18 hours).

 

Cabinet approves revival of defunct Fertilizer Units

Cabinet approves revival of defunct Fertilizer Units

13/07/2016 16:25

The government has approved the revival of defunct Fertilizer Units in Gorakhpur, Sindri and Barauni.

“The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the revival of defunct Fertilizer Units in Gorakhpur, Sindri and Barauni,” Ministry of Chemicals and Fertilizers said in statement.

The fertilizer units that will be revived include two closed urea units of Fertilizer Corporation India Limited (FCIL) at Sindri (Jharkhand) and Gorakhpur (Uttar Pradesh) and Barauni (Bihar) unit of Hindustan Fertilizers Corporation Limited (HFCL).

The said units will be revised by means of Special Purpose Vehicle (SPV) of Public Sector Units (PSUs) namely, National Thermal Power Corporation (NTPC), Coal India Limited (CIL), Indian Oil Corporation Limited (IOCL) and FCIL/HFCL, through ‘nomination route’.

The setting up of new units at Sindri, Gorakhpur and Barauni will meet the growing demand of urea of Bihar, West Bengal and Jharkhand.

It will also ease the pressure on railway and road infrastructure due to long distance transportation of urea from Western and Central Regions and thereby saving in Govt. subsidy on freight, the statement added.

Further, it will also accelerate the economic development of the region. Apart from growth of regional economy, this unit will create opportunities for 1200 direct and 4500 indirect employments.

Crude oil futures down 1.30% on rise in US supply

Crude oil futures down 1.30% on rise in US supply

13/07/2016 16:43

Crude oil futures were trading lower during the evening trade in the domestic market on Wednesday as investors and speculators cut down their exposure in tune with a weak trend at other Asian markets after data indicated a surge in US stockpiles and reigniting the concerns about a supply glut.

Analysts said that traders cut short their positions at the spot market on expectations that global output is set to climb, influenced the downtrend at crude oil futures.

At the MCX, crude oil futures for July 2016 contract is trading at Rs 3,101 per barrel, down by 1.30 per cent, after opening at Rs 3,120, against a previous close of Rs 3,142. It touched the intra-day low of Rs 3,090 (At 16:34 hours).

RBI’s central board discusses macro-economic developments, MPC

RBI’s central board discusses macro-economic developments, MPC

08/07/2016 11:42

The Reserve Bank of India’s (RBI) Central Board on Thursday discussed macro-economic developments and constitution of Monetary Policy Committee (MPC), a broad-based panel that would determine the benchmark interest rates.

The meeting, chaired by RBI governor Raghuram Rajan, also discussed RBI’s budget among other issues, and reviewed the activities of the Board for Payment and Settlement System for the year ended March 2016.

Besides, the Board, which met in Bengaluru after a gap of seven years, discussed the draft Annual Report for 2015-16, RBI said in a statement.

The meeting was also attended by government nominee director on the Central Board, Shaktikanta Das who is economic affairs secretary, it said.