Stock Market News - PSU Banks Gain, HDFC Top Gainer

RBI monetary policy: The Reserve Bank of India is likely to go for yet another rate cut on October 4, the fifth in a row, as inflation is within the comfort zone and the need to boost the economy is pressing. RBI Governor Shaktikanta Das has already hinted that benign inflation provides room for further monetary policy easing while space for fiscal space is limited.

BPCL trades flat with negative bias -- The international Credit Rating Agency Moody's on Thursday warned of downgrading Bharat Petroleum Corporation (BPCL) to Ba1 if the government goes ahead with privatization by selling its stake to a private entity.

HDIL slips 4% after EOW arrests Rakesh and Sarang Wadhawan Alert: They are the promoters of HDIL

Rupee Update: Rupee traded with mild gains ahead of RBI policy rate decision. The Indian currency traded 8 paise higher at 70.82 per dollar around 0945 hours IST.

Oil price update: Oil futures edged higher on Friday but were on track for a large weekly loss on fears that slower global economic growth will hurt fuel demand, while Saudi Arabia said it has fully restored oil output after recent attacks.

PSU Banks Gain; Syndicate Bank Up Nearly 3% The NSE Nifty PSU Bank Index advanced over 1 percent, led by the rally in Syndicate Bank, Allahabad Bank and State Bank of India

Manpasand Beverages Locked In Lower Circuit For Nineteenth Day Shares of Manpasand Beverages was locked in lower circuit of 5 percent for the nineteenth consecutive trading session, their longest ever losing streak. Batliboi & Purohit resigned as statutory auditor to Manpasand Beverages Ltd., citing its inability to audit because of a lack of cooperation from the maker of MangoSip juice.

HDFC Top Gainer On Sensex, Nifty After Sharing Quarterly Updates Shares of HDFC rose as much as 1.6 percent to Rs 2,007. The company’s profit on the sale of investments rose 83 percent on a yearly basis to Rs 1,632 crore in the September quarter.

Yes Bank Halts Rally After Large Trade Shares of Yes Bank swung to a fall of as much as 2.4 percent after rising as much as 8 percent. About 10 lakh shares of the Mumbai-based lender changed hands in a block deal, Bloomberg data showed. Buyers and sellers were not known immediately.

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Stock Market News - Trade war worries kept base metal prices under pressure in 2019

The trade deal developments and its impact on the global economy remain the trendsetter of commodity prices in 2020. A successful deal will boost global economic activity and improve the demand for base metals. In the past year, trade uncertainty hit global economic sentiments adversely as base metal prices in the domestic futures market settled with moderate gains. Commodities such as copper and lead ended with gains of 8 percent, while aluminium and zinc advanced 6 percent and 4 percent, respectively. Performance of nickel was exceptional with a whopping gain of more than 40 percent. At the same time, price-performance at its key overseas markets was rather steady. Trade war worries that fanned fears of recession roiled the global manufacturing sector last year, particularly China. This because Chinese industries are the key consumers of all base metals. Economic growth in the country tumbled to multi-year lows due to the 17-month trade dispute between the United Sta...

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Stock Market News - Yellow metal hits fresh record high as Iran attacks US forces

On the MCX, gold contracts for February were trading higher by Rs 562, or 1.38 percent, at Rs 41,225 per 10 gram at 0920 hours. It hit a record high of 42,278 per 10 gm. India Gold February futures hit a fresh record high on January 8 tracking gains in international spot prices which surged past $1,600 an ounce mark after Iran fired rockets at Iraqi airbase which hosts US forces that triggered risk-off sentiment. Spot prices hit their highest since March 2013 at $1,610.90 earlier in the session. US gold futures rose 2 percent to $1,605.80. “The jump in the price of what’s viewed by investors as a safer asset in times of political and economic uncertainty came after Iran’s missile attack on US-led forces in Iraq early on Wednesday,” said a Reuters report. “The attack came hours after the funeral of an Iranian commander whose killing in a US drone strike has raised fears of a wider conflict in the Middle-East,” it said. On the MCX, gold contracts for February were trading...

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