Market News
Overview of World Markets: Few Positive, Few Negative
The Nikkei [Japan] 225 Average rose 0.9% to 13,360.04, after dropping as low as 13,169.55 earlier in the day. The gains came after the benchmark lost nearly 8.5% in the previous 12 sessions. The broader Topix index gained 1.2% to 1,312.80.
Chinese stocks in Shanghai and Hong Kong rising sharply on banks and beaten-down airline stocks. [...]
Factors - Market Will Take Cues from Going Forward
Monsoon this year
India’s monsoon has been 21% above average so far this season. A normal monsoon may lift farm production, which accounts for a fifth of the economy, and cool the nation’s fastest inflation rate in 13 years.
Developments on the Political Front
The Indian government is seeking support from the Samajwadi Party (SP), a key regional [...]
Sensex Tumbled Again Around 570 points
Crude oil is killing everyone and Indian economy too. Soaring crude oil prices that surged past $146 a barrel mark and fears of an economic slowdown dampened trading sentiment in India with the benchmark index skidding 570 points to 13,100 levels.
Well only Indian market was not down it seems, in other markets, South Korean shares [...]
Gold and Crude Oil Price Tango Ends?
Historically, gold and crude prices moved in tandem. The value of the US dollar and geopolitics always played a key role in the price action of both commodities. Notwithstanding differences in their utility and unit of measurement or trade (gold quoted in dollars per ounce and crude oil in dollars per barrel), there was certain [...]
StanChart sees big growth in mid-market segment
Even as financial institutions grapple with the global credit crunch post the sub-prime crisis, Standard Chartered Bank finds itself well positioned to support the growth of companies in Asia, West Asia and Africa.
The squeeze in credit has made effective liquidity management critical for companies, and this presents an opportunity for banks such as Standard Chartered.
For [...]
Banking stocks on a free fall
Banking sector shares dwindled further extending recent heavy losses as investors were uncertain about what action the Reserve Bank of India would take to calm inflationary pressures in the economy.The BSE Bankex was down 2.93% at 6,827.07. Canara Bank (down 7.66% at Rs 184.95), HDFC Bank (down 4.96% at Rs 1125), Kotak Mahindra Bank (down [...]
Bharti’s Talks to Merger with MTN Could Not Materialize
After almost a month of negotiations, Bharti could not take the merger talks further with South African company MTN due to disagreement over the holding structure. Bharti said the structure proposed by MTN would not capture the synergies of the two companies and was a convoluted way of getting an indirect control of the combined [...]
Mindtree Consulting Aquiring AztecSoft - A Product Development and Testing Company?
On the buzz of Mindtree Consulting aquiring AztecSoft for around Rs 400 crore, MindTree gained 2.81% to Rs 480 at 10:52 IST on BSE. Aztecsoft is a software engineering services partner for software product companies. As per recent reports, the deal is expected to be concluded in a couple of days.
The stock hit a high [...]
Oil rises to $115 a barrel on Federal reserve cut & Nigeria strike
Oil futures rose to near $115 a barrel on Thursday, 1 May, gaining support from an interest rate cut by the US Federal Reserve and the extension of an oil workers’ strike in Nigeria. If you read, we have updated couple of days back on Oil prices rising to $118 a barrel on 29th April.
The [...]
Oil Prices Drop Today: $118 a barrel
Oil prices fell 29 April amid expectations that a supply disruption in the U.K. would soon be resolved and as the U.S. dollar held its ground against the Euro.
As per the news I am reading, a pipeline that normally carries 700,000 barrels of crude a day to the U.K. is likely to be back in [...]
