03:30 pm Market closing
After remaining sluggish during the day, the market has
ended on lower note. The Sensex was down 98.15 points at 26752.90 and the Nifty
slipped 22.85 points at 7991.70. About 1257 shares advanced, 1610 shares
declined and 106 shares were unchanged.
BHEL was up 5 percent, while Dr Reddy's Labs, Coal India,
GAIL and L&T. HUL lost 5 percent while Tata Motors, ONGC, Tata Steel and
Hindalco.
03:15 pm Kingfisher Airlines
City-based UCO Bank today said it has "identified"
Vijay Mallya-owned Kingfisher Airlines (KFA) as a "wilful defaulter"
and will be sending a notice to the defunct carrier. "We have identified
KFA as a wilful defaulter. We are in the process of sending a notice to the
company in this regard", a source in the bank told PTI. Other banks like
State Bank of India and Punjab National Bank are also mulling this route.
United Bank of India has already declared KFA a 'wilful defaulter' for
defaulting a loan of Rs 350 crore.
Beside KFA, UCO Bank will also send a notice to the company
which had furnished a corporate guarantee for availing a loan of around Rs 450
crore, the source said.
02:55pm Gold Update
Gold prices tumbled by Rs 350 to Rs 27,450 per ten gram in
the national capital today following a long weekend and ending of festive
season with demand drying up amidst a weak global trend.
Silver also eased by Rs 35 to Rs 38,200 per kg on reduced
offtake by industrial units and coin makers.
Traders said fall in demand from jewellers and retailers due
to end of festive season and a weak global trend where gold retreated from a
six-week high as investors expected the Federal Reserve to end its bond-buying programme this week, eroding safe-haven
demand, mainly pulled down precious metal prices here.
Gold in Singapore, which normally set price trend on the
domestic front, lost 0.3 percent to USD 1,227.51 an ounce. In Delhi, gold of
99.9 and 99.5 per cent purity plunged by Rs 350 each to Rs 27,450 and Rs 27,250 per ten gram respectively. It had lost
Rs 125 in the past two days. Sovereign followed suit and shed Rs 100 at Rs
24,200 per piece of eight gram, reports PTI.
02:30pm Interview
In an interview to CNBC-TV18 Ashok Hiramat, CMD, Astec
Lifesciences, said that the company’s topline in the quarter gone by was
marginally lower due to its focus on high value products. It also launched two
new products where margins were better and these products contributed around 15
percent to sales in FY15, he added.
Astec Lifesciences foresees a topline growth of 20-25
percent in this fiscal and aims to maintain EBITDA margin in the range of 23-25
percent, he said.
02:00pm Market Check
It is a slow start to the post Diwali week as the 30-share
BSE Sensex fell 90.62 points to 26760.43 and the Nifty declined 20.80 points to
7993.75.
Declining shares outnumbered advancing ones by a ratio of
1532 to 1195 on the Bombay Stock Exchange.
Adrian mowat of JPMorgan told CNBC-TV18 that he would add
more money into India now. He downgraded Brazil to Neutral and recommended
switching out of Brazil and into India. He expects another 20 percent returns
on Indian markets in next 12 months.
Hindustan Unilever fell 4 percent after second quarter
earnings. FMCG major met street expectations with the second quarter net profit
rising 8.1 percent year-on-year to Rs 988 crore supported by exceptional gain
and higher revenue growth. Profit in the year-ago period was Rs 913.8 crore.
Meanwhile, global markets have been mixed today. European
markets traded with gains of over 0.5 percent while Asian markets like Hong
Kong and Shanghai fell more than 0.5 percent. All eyes are on FOMC and Bank of
Japan meetings lined up later this week.
In more from the commodity markets today, Brent crude
continued to lose after falling for five straight weeks. Goldman Sachs cut its
Brent crude price forecast to USD 85 a barrel versus USD 100 earlier predicting
supply growth from non-OPEC producers will outpace demand.
No comments:
Post a Comment