10,607.3555.65
Stock Analysis, IPO, Mutual Funds, Bonds & More

Nikkei gains as coronavirus cases slow in Japan, but US-China tensions weigh

The benchmark Nikkei average gained 0.5 per cent to 20,133.73, erasing early losses.

Crude oil outlook still cautious despite output cuts

Weak refinery margins continued to create doubts over demand for crude as all regions saw margins grinding lower.

Hedge fund luminaries are lining up behind gold again

Gold is the only escape from global monetising, Crispin Odey wrote.

Crude oil futures fall Rs 13 to Rs 4,367 per barrel

Globally, West Texas Intermediate crude oil was trading 0.18 per cent higher at $61.17 per barrel.

Opec confirms March meeting date, ending Saudi-Russia tussle

​Saudi Arabia has been pushing for weeks for an earlier meeting of the Organization of Exporting Countries and its allies​.

Crude oil futures gain on spot demand, global cues

West Texas Intermediate crude oil was trading 0.02 per cent up at $60.08 per barrel.

Crude oil futures slip Rs 12 to Rs 4,374 per barrel

Crude oil futures on Wednesday fell by Rs 12 to Rs 4,374 per barrel.

Kazakhstan becomes third country in Asia to lift emergency imposed due to Covid-19

"Some shops will be opened throughout the country. Beauty salons, education centers, and other facilities will reopen. Parks will reopen too. Flights were resumed. At the same time, we all must continue taking preventive measures in our daily lives," Kazakh President Kassym-Jomart Tokayev said on May 11.

9 practical steps to prepare for and navigate the financial crisis due to coronavirus

Do not deny the possibility of losing the job, or being furloughed briefly.

Crude oil futures fall on sluggish demand

Crude oil futures on Thursday fell Rs 4 to Rs 4,001 per barrel.

Indian carriers may ground 150 planes; stare at quarterly loss on coronavirus impact: Report

All Indian airlines will report significant losses in the first quarter of this year and may initially ground around 150 planes as the shock from the coronavirus pandemic will be "far deeper and much longer", according to a report.

Crude oil futures slip on weak global cues

Crude oil prices for November delivery dropped by Rs 3, or 0.07 per cent, to Rs 4,040 per barrel.

Commodity outlook: Crude oil jumps; here is how others may trade today

Bullion counters can trade lower on profit booking at higher levels.

ONGC likely to cut capex by 15% as pandemic delays projects

The company is now reworking its capex plans. It had raised its capex target for the current fiscal to Rs 32,500 crore from Rs 30,000 crore it spent in 2019-20.

Share market update: OMCs trade in the red; BPCL slips 4%

The S&P BSE Oil & Gas index was trading 1.96 per cent down at 11375.67.

OMCs, upstream firms may see re-rating in 2020: UBS

Refining margins are likely to recover due to International Maritime Organisation norms 2020 and Bharat Stage VI norms

Commodity outlook: Natural gas tanks; here's how others may fare

​Here is how SMC Global expects commodities to trade today.

Crude oil futures gain on spot demand, global cues

Crude oil prices on Thursday gained by Rs 2 to Rs 4,162 per barrel

Azim Premji: The interests of workers, businesses are deeply aligned, especially in these times of crisis

Wipro founder expressed shock over states diluting labour laws related to settling disputes.

Big bullish bet! UBS raises Reliance target price, sees 60% upside

The steep decline implies no value is being assigned to RIL’s energy business, says UBS.

Sell Bharat Petroleum, price target Rs 435: Manas Jaiswal

The analyst suggested a stop loss at Rs 475.

Sell Bharat Petroleum, price target Rs 448: Kunal Bothra

The analyst suggested a stop loss at Rs 470.

Commodity outlook: How gold, crude oil, nickel, lead may trade today

MCX Gold has support at Rs 40700 – 40420 whereas resistance is at Rs 41150 – 41330.

Gold prices hold steady as markets await Fed minutes

Spot gold were little changed at $1,647.93 per ounce by 11:01 a.m. EDT (1501 GMT).

Saudis set to sell 600,000 barrels a day of oil to US in April

For May, state-run Saudi Arabian Oil Co. has said it will cut output to 8.5 million barrels a day as part of the OPEC+ agreement

Gold eases on firmer dollar, coronavirus slowdown signs

US gold futures eased 0.7 per cent to $1,671.30.

Palm oil prices rise for third day on supply concerns as Malaysia extends lockdown

The benchmark palm oil contract for June delivery on the Bursa Malaysia Derivatives Exchange gained 9 ringgit, or 0.38 per cent, to 2,392 ringgit per tonne in early trade.

Dow Jones shoots up 2000 points on hopes for government's coronavirus plan

The rally recouped many of the losses from a day earlier, when the index experienced its worst slide since the Black Monday crash of 1987 and European indexes had one of the worst drops on record.

Commodity outlook: Natural gas gains; here's how others may fare

Here is how SMC Global expects commodities to fare today.

ONGC asks govt to waive cess, royalty as plummeting oil prices not enough to cover operating cost

While the slump in international oil prices to more than two-decade low is good news for fuel consumers, it is spelling economic havoc on oil and gas producers.

Rupee edges 5 paise higher on stable crude prices

The dollar index rose 0.02% to 99.14.

Shocker: Local oil traders lose their shirts

Clients carrying overnight bullish positions may struggle to meet their MTM obligations

Most coronavirus patients recover, still anxiety, fear loom

Amid all the fears, quarantines and stockpiling of food, it has been easy to ignore the fact that more than 60,000 people have recovered from the coronavirus spreading around the globe.

G20 ministers struggle to finalise oil output cuts despite US efforts

The final G20 communique appeared to gloss over simmering divisions over energy policy, making no mention of output cuts and pledging simply to ensure oil "market stability" amid the coronavirus pandemic.

Cooking oil may become 10% cheaper

Current wholesale prices of branded soyabean and palm oil are Rs 78 a litre.

As coronavirus spooks markets, RBI announces $2 billion money shot

These funds would be available for 6 months. India's forex reserve is at record $487.24 billion.

Global markets fall on renewed coronavirus fears, Powell speech in focus

Investors, many facing steep losses due to the pandemic-driven shakeout in assets over the past few months, have also had to contend with renewed U.S.-China trade tensions.

Beat coronavirus blues: This raffle draw can get you an original Picasso on your wall

Auction house Christie's in Paris is hosting a raffle draw for 'Nature Morte' - an oil on canvas painted in 1921.

Saudi, Russia seek to finalise oil cuts in G20 talks, want US involved

Saudi Arabia, Russia and their allies will press Mexico on Friday to join an accord for collective oil production cuts equivalent to 10% .

Stimulus hopes lift Dow Jones after historic oil rout

Dow Jones Industrial Average was up 417.04 points, or 1.81 per cent, at 23,435.92.

Commodity outlook: Crude oil jumps; here's how others may fare

Here is how SMC Global expects commodities to trade today.

Saudi king, Trump, Putin review importance of cooperation between oil producing countries

The leaders stressed the importance of cooperation between oil producing nations to maintain stability of energy markets and support growth in global economy, SPA reported on Friday.

Commodity outlook: Crude oil down 4%; here’s how others may fare

Here is how SMC Global expects commodities to fare today.

Asian stocks, oil sell off on second wave fears

MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.25% with Australian shares off 0.4% and South Korea slipping 0.6%. Japan's Nikkei fell 0.75%.

Dow rallies over 1,100 points on hopes for coronavirus aid

Wall Street endured another day of dizzying trading Tuesday, whipping up and down with hopes that the U.S. and other governments will cushion the economy from the pain of the coronavirus.

Will D-St see a bounce in tandem with crude’s surge this time, too?

RSI as per Friday’s closing was at 30 for Nifty and for Bank Nifty at 26.

What India can learn from the first phase as it stares at an extended lockdown

As India stares at an extended lockdown, it has the opportunity to learn from the mistakes of the first phase.

Stocks in the news: Kotak Mahindra Bank, RIL, Britannia, IndiGo, Maruti and Wipro

Maruti Suzuki India reported 88.93 per cent decline in sales last month at 13,888 units as compared with 1,25,552 units in May 2019.

Coronavirus impact: Barclays pegs $20 billion current account surplus in FY21

As imports continue to plunge, India may end the current fiscal with a record surplus, Barclays said.

Saudi Aramco cuts June crude allocation to some Asian buyers: Sources

The cuts were made against volumes that the buyers had nominated for June-loading supplies.

Crude oil prices up on firm global cues

Rise in crude oil futures was largely in tandem with a firm trend in the global market.

As coronavirus spreads, Indian stocks offer shelter to global funds in Asia

India is the only stock market in Asia showing positive foreign inflows for the year.

Crude oil futures strengthen on spot demand

Globally, West Texas Intermediate crude oil rose 1.51 per cent to $54.16 per barrel.

Lockdown, Day 61: New normal, new norms

In other bad news, you may have to change your shopping habits as 'first buy, then try' seems to be coming into vogue as shopkeepers begin to prize sanitation over customer satisfaction.

Sensex slips 130 points, Nifty below 12,250 as crude oil prices spike

Equity benchmark BSE Sensex dropped over 100 points in opening session on Friday as global equities turned negative after the US killed a top Iranian general, fueling fears of a conflict in the oil-rich region. Brent crude surged 4.4 per cent to USD 69.16 and WTI jumped 4.3 per cent to 63.84. The 30-share BSE index was trading 107.35 points or 0.26 per cent lower at 41,519.29. Similarly, the broader NSE Nifty slipped 39.10 points or 0.32 per cent to 12,243.10.Sensex slips 130 points, Nifty below 12,250 as crude oil prices spike

Asia stocks touch 4-month top on dogged optimism

MSCI's broadest index of Asia-Pacific shares outside Japan added 0.39% to reach its highest since early March, though turnover was light.

Share market update: BSE Oil & Gas index up; Petronet LNG rises 1%

The S&P BSE Oil & Gas index was trading 0.91 per cent up at 14618.16 .

Commodity outlook: How gold, silver, nickel, crude oil may trade today

MCX Crude Oil has immediate support at Rs.4145 - 4115 whereas resistance is at Rs.4225 - 4250.

Low gas prices may help revive power assets

Industry experts said warmer winters in Korea and Japan, restart of Japanese nuclear power plants and Covid-19 outbreak coupled with increase in LNG capacity in Australia and the US and pipeline connectivity of China and Russia have led to glut-like conditions in global LNG markets.

Asia virus latest: Japan may declare emergency, Singapore quarantines dorms

Prime Minister Shinzo Abe is reportedly set to make the declaration for parts of Japan including Tokyo, as the number of people infected with the virus continues to increase. The news pushed up Tokyo stocks, with investors seeing the move as positive for containing the outbreak, analysts said.

India's oil production in February dips 6.4 per cent on lower private sector output

State-owned Oil and Natural Gas Corp (ONGC) reported a 4.64 per cent rise in production at 1.67 million tonnes as output from its offshore fields saw a pick-up. However, fields operated by the private sector firms reported a 32.6 per cent drop with those in Rajasthan seeing a sharp 32.3 per cent lower production.

Saudi Arabia delays setting May prices, looks to Opec meeting to settle price war

A month-long price war between Saudi Arabia and Russia, against the backdrop of the coronavirus pandemic, has cut the price of crude to $34 a barrel from $65.

Coronavirus: Equity mutual funds give 25% negative returns to investors

The 44-player mutual fund industry is not immune to the economic blowback of COVID-19.

Crude oil outlook bearish, weak demand a big worry

Global oil demand growth is still languishing and the market will be closely following Opec+.

In Saudi-Russia price war, the big winners are oil traders

A new price structure, called a contango, allows the traders to make easy money by buying crude cheap, storing it, and selling it forward.

Risk appetite in market is better than perceived despite Covid-19: Manish Singh

Don’t expect oil prices to go beyond $30 this year, says CIO at Crossbridge Capital.

Crude oil prices up on firm global cues

Rise in crude oil futures was largely in tandem with a firm trend in the global market.

Asian shares fall on coronavirus drug, economic damage concerns

MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.4%. U.S. stock futures, the S&P 500 e-minis, were down 0.72%.

Fuel prices set to fall as virus scare may hit demand

Markets fear the outbreak would hurt travel, oil demand and economic growth in China, the world’ fastest-growing oil consumer.

Petrol prices up 15 paise, diesel by 17 paise as crude hits USD 70 mark

Oil prices surged, gold hit a more than six-year high and equities tumbled today amid escalating US-Iran tensions after the US assassination of commander Qasem Soleimani. Brent futures rose as much as 3.1 per cent, or USD 2.14, to USD 70.74 per barrel while West Texas Intermediate advanced 1.7 per cent to USD 64.10 on the New York Mercantile Exchange.

US trade deficit rises 9.7% in May to $54.6 billion

The Commerce Department said Thursday that the gap between the goods and services the United States buys and what it sells abroad rose 9.7% in May to $54.6 billion, highest since December 2018. The coronavirus pandemic has devastated world trade.

Important constituents of the economy may suffer during Covid crisis in the absence of clarity

India has been relatively conservative in extending fiscal measures to deal with the negative impact of COVID-19 on the economy. However, it has to take far more aggressive steps to contain the damage to the economy as few of the macroeconomic factors such as low oil prices, adequate forex reserves and lesser dependence on export will work in its favour.

S&P 500 slips after report on coronavirus drug trial

All three main U.S. stock indexes fell back from gains of over 1% after the Financial Times reported that a Chinese trial showed that Gilead Science's remdesivir did not improve patients' condition or reduce the pathogen's presence in the bloodstream.

The effect of coronavirus pandemic begins to show up in India's foreign trade numbers

Muted exports could shave off India's economic growth that already faces a challenges on the domestic front due to an ongoing slowdown and coronavirus pandemic.

Oil prices gain as market awaits signals on trade talks

Oil is down 14% since an April peak as the spat between Beijing and Washington over trade dents demand and global inventories swell.

Two-wheeler sales may have a double-digit decline in FY21 due to Covid-19: ICRA

Two-wheeler sales in India during the recently started fiscal year are expected to be around 18 million units, an estimated decline of 11-13% over FY20, according to ICRA. Subsequently, operating margins of manufacturers are expected to contract by 200-250 basis points to 11.5-12% from around 14% in the previous year.

Coronavirus scare: Should you exit now and enter at lower levels?

Most of us have a narrative similar to this running in our minds at this juncture: Coronavirus is dangerous and it’s spreading across the world; it will have a negative impact on business and economy; sharp fall in oil prices is adding to the worries about global growth.

Excise duty raised on petrol and diesel: What it means for you

On Tuesday, Centre hiked excise duties on petrol by Rs 10 per litre and on diesel by Rs 13 per litre.

Saudi prince tests grip on power with desert raid, oil price war

The royals' arrest and the oil price war suggest the Crown Prince is not going to let anything get in his way.

ONGC to lose Rs 4,000 cr on new gas price; seeks freeing of gas prices

Prices of natural gas, which is used to produce fertilizer, generate electricity and gets converted into CNG for use in automobiles and piped natural gas for household cooking, was from April 1 cut to USD 2.39 per million British thermal unit - a rate about 37 per cent lower than the cost of production. ONGC is India's largest integrated oil and gas company.

Impact of Covid-19 will be felt more on SMEs: Sanjeev Prasad, Kotak Institutional Equities

Global economies may feel the impact of Covid-19 for a longer period of time even if there is a decline in number of new cases, or a discovery of a vaccine against the virus, said Sanjeev Prasad, co-head, Kotak Institutional Equities. In an interview with Sanam Mirchandani, Prasad said investors would prefer owning large-cap stocks and betterquality companies than investing in the broader market. Edited excerpts:

Goldman traders gain $1 billion in commodities revenue after oil slump

Oil prices plunged to their lowest in years in a dramatic selloff at the start of March.

Lockdown, Day 41: New phase, old fears

As the new phase of the nation-wide lockdown gets underway, businesses scramble to decode the fine print in ever-changing government guidelines. In the last 24 hours, the country added about 2500 cases, taking the tally close to the 43,000-mark.

Saudi shoppers rush to buy gold before taxes triple

Saudi shoppers have rushed to buy big-ticket items such as gold, appliances and electronics ahead of the announced tripling of taxes on basic goods on Wednesday as the government tries to shore up revenue for its economy battered by the coronavirus and low oil prices.

Covid-19 to accentuate growth slowdown, impact on inflation ambiguous: RBI

“COVID-19, the accompanying lockdowns and the expected contraction in global output in 2020 weigh heavily on the growth outlook,” the central bank said.

Vedanta seeks to upsize loan to $2.75 billion for delisting

The new financing proposal would boost the second tranche of the loan to $1 billion.

Covid-19 outbreak to hit growth, widen fiscal deficit: Report

"Even COVID-19 will have an impact on GDP through Trade, Hotels, Transport, Communication & Services related GDP. As the March month is severely affected by travel and transport curbs, we believe that Q4 nominal GDP may impart a 1.4 per cent decline in FY20 GDP. "Thus, considering the impact of COVID-19 on GDP, the new fiscal deficit will be 3.88 per cent of GDP," the report said.

Airlines risk extinction as India refuses to bail billionaires out

Modi’s administration hasn’t doled out funds to industries or airlines backed by private businesses.

Exports improving, down by 36 pc in May: Piyush Goyal

"I am happy to share with you that in May, things have drastically improved and from the position of 60 per cent down in April, the May data shows that our overall exports have been down 36 per cent," Goyal said in a webinar. He said the contraction rate is coming down despite the fact that the country was under lockdown during large part of May.

Sensex tumbles 458 pts, Nifty below 12,150; factors behind market pain

BSE Metals index was the top sectoral loser, with all of its components ending in the red.

Stocks in the news: DMart, HDFC, Dish TV, JSPL, Tata Consumer and GAIL

JSPL has bagged an order of 2,308 tonne head hardened rails from Kolkata Metro Rail Corporation.

Budget gains? Stocks riding on softer crude, recovery hopes

Commodity prices have come off meaningfully and India benefits when oil prices are low.

Trending stocks: Indian Oil Corporation shares gain 2% in early trade

The stock quoted a 52-week high of Rs 170.75 and a 52-week low of Rs 75.05.

World shares advance on surprise US job recovery

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.3% in early trade, with South Korea's Kospi rising 1.4%.

Rupee opens 20 paise down at 76.74 against dollar

The local currency declined 13 paise to settle at 76.54 against the dollar in the previous session.

Falling oil price good news for India, but lockdown may hurt refiners’ margin: Azlin Ahmad

We will see a month of very volatile crude prices, says Editor for crude oil, Argus Media.

Crude oil futures gain marginally on domestic cues

Analysts said raising of bets by participants kept crude prices higher in futures trade.

Commodity outlook: Gold prices likely to rise; sell crude oil

MCX Lead price is expected to trade positively with good support at Rs.154.50 levels.

India Ratings cuts economic growth forecast for India to 3.6 per cent

The agency said the initial and visible impact of the spread of the COVID-19 pandemic on the economy has been the disruption in the production of select manufacturing sectors due to the breakdown of supply chain, near-collapse of the tourism, hospitality and aviation sectors and a rise in the work load of the healthcare sector.

Other useful Links


Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service

BACK TO TOP