Morning Notes
13th Nov, 2019
 

Trading Range:

Nifty opened gap down at 11979 on Monday and made a high and low of 11932 and 11854 respectively before closing flat to positive at 11913.

Review/Outlook:

For the day, support for Nifty exists at 11850 and 11790 levels whereas resistance for Nifty stands at 12000 and 12050 levels.

Review/Outlook:

Bank Nifty opened gap down at 30665, made a high of 31205, low of 30626, and closed positive at 31116. For the day, support for Bank Nifty exists at 30800 and 30500 levels whereas resistance for Bank Nifty stands at 31300 and 31500 levels.

Market Scan
Benchmark Indices
Index Clsg Chg%
Sensex 40,345 +0.05
Nifty 11,913 +0.04
BSE 200 4,988 +0.13
BSE Midcap 14,774 +0.29
BSE Smallcap 13,498 +0.17
Dow Jones 27,691 +0.00
NASDAQ 8,486 +0.26
 

DERIVATIVES INDICATORS FOR NOV 13, 2019:

NIFTY 11913.45 (+5.30) (+0.04%)
NIFTY NOV FUTURE 11943.70 (30.25 Points Premium)
NIFTY PCR - OI 1.28(+0.02)
NIFTY OPEN INTEREST 1.60Cr. (-2.79%)
INDIA VIX 16.25 (+2.49%)
NIFTY ROLLOVER 5%

NIFTY OPTIONS ACTIVITY (28-NOV SERIES)

CALL 12000 CE +0.78 lac Shares
CALL 12200 CE +1.90 lac Shares
PUT 11900 PE -0.80 lac Shares
PUT 11800 PE +0.83 lac Shares
Sectoral Indices (BSE)
Index Clsg Chg%
Auto 18,289 -0.38
Bankex 35,260 +1.22
PSU 7,043 +1.10
Healthcare 13,126 +0.28
IT 15,133 -0.67
 
Market Turn Over (`cr)
Index 11/11 08/11
BSE Cash 2,082 2,911
NSE Cash 33,580 44,084
NSE F&O 912,703 957,753
BSE Delivery % 50.65 44.17
Advances / Decines BSE Cash
Adv(%) Dec(%)
BSE 100 54.46 42.57
BSE 200 54.73 43.28
BSE 500 50.30 48.10
Total BSE 44.66 48.86
 
Commodities, Forex & Debt
Clsg Chg%
Crude Oil NYMEX $ bl 56.62 -0.32
Gold Rs./ 10 Gms 37720.00 +0.11
Silver Rs./ Kg 43887.00 -0.23
Rs.- US $ 71.79 +0.59
Rs.- Euro 79.06 +0.51
FII (Rs cr )
11/11* 08/11*
FIIs +5334.01 +894.84
MFs - -

*Date refers to the day of activity and not the day on which it is reported.

 
Details Buy Sell Open interest at the
end of the day
Net Position
No. of
Contracts
Value
(Rs. Cr)
No. of
Contracts
Value
(Rs. Cr)
No. of
Contracts
Value
(Rs. Cr)
Value
(Rs. Cr)
Index Futures       31,283.00       2,245.54       37,187.00       2,736.52    1,93,629.00      16,261.12    -490.98
Index Options  27,02,047.00  1,91,363.57  26,87,684.00  1,90,160.77    6,43,742.00      53,129.93  1,202.80
Stock Futures    2,02,337.00     10,433.77    2,02,388.00     10,574.31  15,39,821.00      90,910.71    -140.54
Stock Options       76,850.00       4,307.68       78,227.00       4,382.15       78,993.00        4,593.52     -74.47
Total  30,12,517.00  2,08,350.56  30,05,486.00  2,07,853.75  24,56,185.00   1,64,895.28     496.81
Corporate News
Drugmaker Lupin Ltd has formalised an agreement to sell its entire stake in its Japanese subsidiary Kyowa Pharmaceutical Industry Co Ltd to Unison, a private equity fund in Japan, for an estimated Rs.3,702 crore. (BL).
Indian Oil Corporation has developed winter-grade diesel for Ladakh to address the problem of loss of fluidity in fuel during extreme winter conditions. (ET).
State-owned Hindustan Copper said its board will on Thursday consider a proposal to increase the borrowing limit of the company to Rs 850 crore. The board will consider a proposal for raising borrowing limit of the company from consortium/other banks from existing Rs 650 crore to Rs 850 crore by way of cash credit/working capital arrangements, etc, the PSU said in filing to the BSE. (BL).
Kirloskar Chillers, a part of the Kirloskar Group, has launched a new range of water-cooled chillers using India’s first oil-free magnetic bearing centrifugal compressor. (ET).
Titan plans to bet high on leveraging Artificial Intelligence (AI) by harnessing its power in creativity, design, Omni channel and ecommerce. The company for decades has been a leader in this space, with brands such as Fastrack, Raga, Nebula and the eponymous Titan winning the continued admiration and wallet share of discerning consumers. (BS).
Novartis is buying the Japanese generics unit of South Africa’s Aspen Pharmacare in a deal worth up to €400 million ($440.80 million) to expand in the world’s third-biggest drug market, the Swiss drugmaker said on Monday. (ET).
Pharma major Lupin Limited (Lupin) announced that it has received approval for its Zileuton Extended-Release Tablets, 600 mg, from the United States Food and Drug Administration (U.S. FDA), to market a generic equivalent of Zyflo CR Extended-Release Tablets, 600 mg, of Chiesi USA, Inc. Lupin’s Zileuton Extended-Release Tablets, 600 mg are indicated for prophylaxis and chronic treatment of asthma in adults and children 12 years of age and older. (ET).
Leading multiplex chain PVR Ltd is adopting a multi-pronged strategy of tapping into micro-markets in big cities and at the same time it is entering new tier-3 and tier-4 territories through its low-cost multiplex model PVR Utsav. On Monday, PVR unveiled its Superplex cinema at Dwarka in New Delhi with 12 screens, which is its largest in the capital city and offers various formats including IMAX, 4DX, Playhouse and Luxe. Earlier this month, it opened its first international property in Colombo in Sri Lanka. (ET).
Larsen & Tourbo has bagged orders totaling Rs 1,000 crore - Rs 2,500 crore, mainly from state and central government entities, the engineering major said Monday. From the Jharkhand government, the company bagged and engineering, procurement and construction (EPC) order from the Jharkhand Urban Infrastructure Development Company for augmenting and strengthening the Dhanbad Urban Water Supply Scheme Phase II under Dhanbad Municipal Corporation.The project is designed to bring drinking water to 4.45 lakh people of Dhanbad city in the state of Jharkhand. In more news, Larsen & Toubro Ltd (L&T) is looking to reduce the holding in its infrastructure unit to as low as 25 per cent and is in advanced talks with investors such as Canadian pension fund OMERS Infrastructure for a stake sale. (BL).
Tata Motors’ (TML) operations excluding JLR, in particular, commercial vehicles and passenger vehicles in India, face acute challenges, with sluggish economic growth, weak liquidity, tight financing norms, and low rural income negatively affecting consumer sentiment, Moody's Investors Service said on Tuesday, even as it added that the preferential allotment of equity shares and convertible warrants to Tata Sons for a $914 million equity injection is credit positive. In more news, Tata Group, the owner of Jaguar Land Rover (JLR), has approached carmakers including China’s Zhejiang Geely Holding Group Co. and BMW AG as it seeks partnerships for the beleaguered British automotive business, people with knowledge of the matter said. (BL).
Dr Reddy’s Laboratories Ltd has bagged `API Supplier of the Year’ award at recently held 6th Annual Global Generics & Biosimilars Awards in Frankfurt, Germany. (BL).
The committee of creditors of IL&FS have approved the sale of its education business to Career Point Publications Private Limited (CPPPL). CPPPL bid was approved by more than 78 per cent of IL&FS Ltd’s creditors through an e-voting process that concluded on 5 November 2019. (BL).
State-owned MMTC has extended its tender offer to sell up to 6 per cent stake in the Reliance ADAG-anchored Indian Commodity Exchange (ICEX) for a fifth time till November 29, following a low response from investors. (BL).
Oil and Natural Gas Corp is seeking buyers for the first gas from its KG basin fields, which would begin production next month after years of delay. ONGC is auctioning 0.75 million metric standard cubic meters a day (MMSCDM) of gas for three years from its KG-DWN-98/2 fields, bids for which are to be submitted by November 19. ONGC is spending more than $5 billion to bring these fields to production. (BL).
JSW Steel on Tuesday said its crude steel production declined 13 per cent to 12.54 lakh tonne (LT) during October 2019. The company had produced 14.47 LT crude steel in October 2018, it said in a BSE filing. During the month, the production of flat rolled products fell 3 per cent to 9.77 LT as against 10.11 LT in October 2018, it added. The company registered 25 per cent fall in production of its long rolled products at 2.58 LT as compared to the year-ago month when it stood at 3.46 LT, it said. (BL).
Quarterly Earnings
State-owned iron ore miner NMDC said its standalone net profit rose over 10 per cent to Rs 703.27 crore during the quarter ended September 2019. The company had clocked Rs 636.37 crore net profit during the same quarter of the preceding fiscal, NMDC said in a BSE filing. Total income fell to Rs 2,369.30 crore during the quarter, compared with Rs 2,568.87 crore a year ago. (BL).
GIC Re on Monday reported a consolidated loss of Rs 707.41 crore for the September quarter of this fiscal amid a rise in number of insurance claims. It had posted a net profit of Rs 617.43 crore in year ago's July-September corresponding quarter. Sequential basis, the insurer had posted a net profit of Rs 153.45 crore in first quarter ended June of this fiscal. Total income (consolidated) rose to Rs 13,384.09 crore in July-September, 2019-20 as against Rs 12,924.29 crore in the same period of 2018-19, it said in a regulatory filing. The company said it wrote gross premium of Rs 9,511.91 crore during the quarter, higher than Rs 8,656.75 crore a year ago period. (BS).
Leading non-banking finance company Sundaram Finance on Monday said it has registered net profits at Rs 269 crore for the quarter ending September 30, 2019. The city-based company had recorded net profits at Rs 154 crore during the corresponding quarter the previous year. The net profit includes an one-time income of Rs 53 crore and the benefit of lower corporate taxes, a company statement said here. Income from operations for the quarter ending September 30, 2019, grew to Rs 994 crore from Rs 817 crore registered a year ago period. The assets under management as on September 30, 2019 was at Rs 30,256 crore as against Rs 27,228 crore registered same period the last fiscal. Deposits stood at Rs 3,424 crore as on September 30, 2019, a net accretion of Rs 449 crore during first half of the financial year. (BL).
State-run NHPC on Monday posted a 33 per cent rise in its consolidated net profit at Rs 1,457.68 crore in the second quarter mainly due to higher revenues. Its consolidated net profit was Rs 1,093.22 crore in the quarter ended on September 30, 2018, a BSE filing said. Total income of the company increased to Rs 3,360.35 crore in the second quarter from Rs 2,942.72 crore a year ago. (ET).
Nissan Motor Co Ltd reported a 70 per cent profit tumble on Tuesday and cut its full-year outlook to an 11-year low, as the Japanese automaker was hit by falling sales that highlight its ongoing turmoil after the ouster of former head Carlos Ghosn. Operating profit at Japan's second-biggest automaker by sales came in at 30 billion yen ($274.98 million) during the July-September period versus 101.2 billion yen a year earlier. (BL).
Indian Hotels Company Ltd (IHCL) has reported a profit of Rs 69 crore for the quarter ended September 30 on a consolidated basis compared to a loss of Rs 5.57 crore in the corresponding period of the previous fiscal. The hospitality chain reported revenues of Rs 1007 crore for the quarter under review, up from Rs 964 crore in the corresponding period of the previous fiscal, a jump of 4.4%. On a half year basis, IHCL reported revenue from operations of Rs 2027 crore, up from Rs 1944 crore, a jump of 4.26%. IHCL said its other income for the quarter and half year ended September 30, 2019 includes Rs 8.28 crore and Rs 32.78 crore respectively towards gain on sale of residential flats by the parent company. IHCL said exceptional items during the quarter under review also comprise of a profit of Rs 2.12 crore on the sale of long term investments
Jindal Stainless (JSL) posted a net profit of Rs 52 crore in the second quarter ended September 30, 2019 (Q2FY20) against a loss of Rs 36 crore in Q2FY19. JSL registered standalone net revenue of Rs 3,170 crore during Q2FY20, up 3% over net revenue in Q2FY19. Sales volume during the quarter stood at 233,328 tonnes, increasing by 13% over corresponding period last year (CPLY), an official statement said. Earnings before interest tax depreciation and amortization (EBITDA) for Q2FY20 was recorded at Rs 317 crore. Exceptional gain in Q2FY20 was recorded at Rs 7 crore as against a CPLY loss of Rs 53 crore. (BL).
Britannia Industries on Monday posted a 74% increase in net profit to Rs 492.58 crore for the second-quarter ended September, driven by premium products and cost efficiency programme. The maker of Good Day and Tiger biscuits reported a 10.28% increase in revenue to Rs 3026.29 crore. (BS).
Pharmaceuticals firm Alkem Laboratories on Monday reported a 46.12 per cent increase in consolidated net profit at Rs 380.52 crore in the second quarter ended September 30. The company had posted a consolidated net profit of Rs 260.42 crore in the year-ago period, Alkem Laboratories said in a regulatory filing. Consolidated revenue from operations during the quarter under review stood at Rs 2,264.03 crore as compared to Rs 1,918.90 crore in the year-ago quarter, a growth of 17.99 per cent, it added. (ET).
Leading sugar firm Balrampur Chini on Monday reported an 8 per cent increase in consolidated net profit to Rs 99.80 crore for the September quarter. Its net profit stood at Rs 92.52 crore in the year-ago period, the company said in a regulatory filing. Total income, however, declined to Rs 862.64 crore in the July-September quarter as against Rs 1,022.69 crore in the corresponding period of 2018-19. The board of directors has declared an interim dividend of Rs 2.50 per equity share of Re 1 each for 2019-20, involving a total outgo of Rs 66.3 crore including dividend distribution tax of Rs 11.30 crore. (BL).
Hindalco on Monday reported a 74.76 per cent year-on-year fall in standalone profit at Rs 78 crore for the quarter ended September 30. The figures stood at Rs 309 crore in the same period last year. Standalone revenue declined 8 per cent to Rs 9,965 crore in Q2FY20 over Rs 10,843 crore in Q2FY19. Consolidated profit declined 32.73 per cent to Rs 974 crore during the quarter under review against Rs 1,448 crore in the same period last year. (BL).
Adani Ports and Special Economic Zone on Monday said its consolidated net profit climbed 72.44 per cent year-on-year (YoY) to Rs 1,059.20 crore in the September quarter. The numbers were aided by Rs 319 crore one-time tax benefit. The company had posted a net of Rs 614.23 crore in the same quarter last year. Revenue for the quarter rose 8.1 per cent to Rs 2,821.60 crore from Rs 2,608.01 crore in the year-ago period. (BS).
India Cements on Monday posted a consolidated net profit of Rs 5.07 crore for the second quarter ended September 30, 2019. The company had posted a net loss of Rs 5.03 crore for July-September period a year ago, India Cements said in a BSE filing. Revenue from operations was down 11.20 per cent to Rs 1,269.40 crore during the quarter under review as against Rs 1,429.57 crore in the year-ago period. (ET).
Auto components major Motherson Sumi Systems Ltd on Monday reported a 7.6 per cent decline in consolidated net profit to Rs 457.82 crore in the second quarter ended September 30. The company had posted a consolidated net profit of Rs 495.48 crore in the corresponding period of the previous financial year, Motherson Sumi Systems Ltd (MSSL) said in a regulatory filing. Revenue from operations during the period under review stood at Rs 15,708.99 crore as against Rs 14,853.55 crore in the year-ago quarter, a growth of 5.76 per cent, it added. (BL).
Manali Petrochemicals Ltd (MPL) has reported a 31 per cent fall in its profit after tax (PAT) at Rs.11 crore for the quarter ended September 30, against Rs.16 crore in the year-ago period. However, its revenue grew marginally to Rs.183 crore from Rs.178 crore while its EBIDT stood at Rs.22 crore (Rs.28 crore). On a consolidated basis, the company’s PAT stood at Rs.13.5 crore (Rs.19.5 crore), while revenue was up at Rs.209 crore (Rs.205 crore). (BS).
SJVN Limited has reported a Rs. 623.50 crore consolidated profit after tax (PAT) for the second quarter of financial year 2019-2020. This is 44.92 per cent higher than the Rs. 430.21 crore consolidated profit after tax reported by the company in the same period of the previous financial year. Consolidated total income for the period under review stood at Rs. 1033.34 crore, up from Rs. 830.90 crore reported by the company in the quarter ending September 30, 2018. SJVN is primarily a hydropower producer. (ET).
North American subsidiary Novelis provided some cushion to parent Hindalco’s performance in the second quarter where consolidated profit fell 33% and total revenue by 8.8%. Operating profit decreased by 8% at Rs.3,918 crore. Novelis provided the bright spark with EBITDA rising 5% to $374 million, its highest ever as the North American operations performed well. Volumes were up 3%. (ET).
State-run Coal India on Monday reported a 14 per cent rise in consolidated net profit at Rs 3,522.7 crore for the quarter ended September. The company's net profit stood at Rs 3,084.54 crore in the year-ago period, it said in a regulatory filing. Its total income, however, declined to Rs 22,012.94 crore in the July-September quarter of financial year 2019-20 from Rs 23,486.35 crore in the corresponding period of previous fiscal. (BL).
Future Consumer, a part of Kishore Biyani-led Future Group, on Tuesday reported widening of consolidated net loss to Rs 16.75 crore for the quarter ended September 30, 2019. The company had posted a loss of Rs 3.23 crore in July-September 2018-19, Future Consumer, formerly known as Future Consumer Enterprise Ltd, said in a BSE filing. However, the company's net sales were up 10.85 per cent to Rs 1,120.84 crore during the period under review as against Rs 1,011.11 crore in the year-ago period. (BL).
Drug firm Abbott India on Tuesday reported 29.5 per cent rise in net profit at Rs 178.33 crore for the quarter ended September 30, 2019. The company had posted a profit of Rs 137.68 crore for the year-ago period, Abbott India said in a filing to BSE. Total income for the quarter under review rose about 8 per cent to Rs 1,083.7 crore as against Rs 1,004.2 crore for the same period a year ago. (BS).
Aditya Birla Fashion and Retail (ABFRL) on Tuesday posted a 30% fall in net profit due to higher tax this quarter even as sales rose 14% for the second-quarter ended September. The retailer that sell brands such as Pantaloons, Louis Philippe and Allen Solly, said it had revenues of Rs 2297 with net profit of Rs 30 crore. (BL).
Water treatment player VA Tech WABAG Ltd on Tuesday said it has clocked consolidated profit for the July-September quarter at Rs 23.89 crore. The city-based firm had registered profit at Rs 28.49 crore during the corresponding quarter of previous year. For the half year ending September 30, 2019, consolidated profits were at Rs 24.53 crore as against Rs 42.70 crore registered in the same period year ago. Total income for the July-September quarter was at Rs 641.59 crore as against Rs 752.41 crore. (ET).
Bayer CropScience Ltd on Tuesday reported a marginal increase in consolidated net profit at Rs 169.8 crore for the second quarter of this fiscal. Its net profit stood at Rs 166.8 crore in the year-ago period, the company said in a regulatory filing. Total income rose to Rs 1,356.5 crore during July-September period of fiscal year 2019-20 as against Rs 1,249.1 crore in the corresponding period of the previous year. (BL).
Adani Gas on Tuesday reported more than doubling of its second quarter net profit on lower tax rate. Consolidated net profit in July-September was at Rs 120.06 crore, or Rs 1.09 per share, compared with Rs 50.66 crore, or Rs 0.46 per share, profit after tax (PAT) in the same period a year back, the company said in a statement. Revenue from operation soared 12 per cent to Rs 502.82 crore. (BL).
Aurobindo Pharma Limited on Tuesday said its consolidated net profit (after JV share, minority interest) for the quarter ended September 30 was up by 4.6 per cent to Rs 639.5 crore against Rs 611.4 crore in the Q2 FY 19. Revenue from operation grew by nearly 18 per cent to Rs 5600.5 crore. It was Rs 4,751.4 crore during the same period last fiscal, a company press release here said. (BS).
Sun TV Network Ltd on Tuesday reported a marginal increase of 1.04 per cent in consolidated profit after tax (PAT) at Rs 368.79 crore for the second quarter ended September 30. The company had reported a PAT of Rs 364.99 crore in the July-September period a year ago. Its total income rose 6.79 per cent to Rs 900.74 crore during the period under review as against Rs 843.44 crore in the corresponding quarter of the previous fiscal, Sun TV Network said in a BSE filing. (ET).
Natco Pharma on Tuesday reported 35 per cent decline in consolidated net profit at Rs 117.7 crore for the quarter ended September 30, 2019. The Hyderabad-based company had posted a profit of Rs 181.1 crore in the year-ago period, Natco Pharma said in a BSE filing. Total income stood at Rs 518.9 crore for the quarter under review as against Rs 583.5 crore in the year-ago period, a decline of 11 per cent, it added. (BL).
Srei Infrastructure Finance reported a 50.1 % drop in its consolidated profit after tax to Rs 55.37 crore during the quarter ended September 30, 2019, from Rs 110.97 crore profit clocked in the corresponding period last year. Total consolidated income for the quarter under review too dipped to Rs 1,424.18 crore from Rs 1,537.43 crore recorded during the quarter ended September 30, 2018. (BL).
Economy and Sector News
Private equity and venture capital (PE/VC) investments in October was steady at $3.3 billion across 91 deals, while exits accounted for $960 million across 14 deals, according to a report by Indian Private Equity & Venture Capital Association (IVCA) and EY (IVCA-EY). The infrastructure sector recorded $1.4 billion in investments, accounting for 43 per cent of all PE/VC investments during the month. The investments in October were 11.5 per cent lower to that of September 2019 ($3.7 billion), while the total year-to-date PE/VC investments in India now stand at $43.7 billion, higher by 16.5 per cent than the previous high of $37.5 billion recorded in entire 2018. In more news, global recruiter exchange CBREX that connects companies to recruitment agencies on Monday announced raising an amount of $1.1 million as equity funding. CBREX is a tech platform that uses machine learning to connect jobs to vendors (suppliers) and helps a company hire. (BL).
More than Rs.5,000 crore worth dues have been declared so far under the government’s ‘Sabka Vishwas Scheme’, which is for settling pending disputes of service tax and central excise. The Central Board of Indirect Taxes and Customs (CBIC) has asked its principal chief commissioners to be more proactive in persuading eligible taxpayers to take benefit of ‘Sabka Vishwas Scheme’. (ET).
In a further signal of a persisting slowdown, factory output contracted by 4.3 per cent in September hitting a seven-year low. Negative growth in all the three sectors of manufacturing, mining and electricity pulled down the Index of Industrial Production (IIP), which had recorded 4.6 per cent growth in the same month last year. According to the Central Statistics Office (CSO) data, 4.3 per cent contraction is the deepest in the 2011-12 IIP series, which was unveiled in May 2017. In April 2012, the IIP had declined by 0.7 per cent. For the April-September 2019 period, the IIP grew a modest 1.3 per cent, lower than the 5.2-per-cent expansion in the same period last year. (BL).
The government will consider the proposals of TCS and Infosys to set up special economic zones (SEZ) in IT sector on Friday. The proposals will be taken up by the Board of Approval, the highest decision making body for SEZ, in its meeting on November 15. The inter-ministerial body is chaired by the Commerce Secretary. Infosys has proposed to set up two SEZs (one each in Kancheepuram and Pune), according to the agenda paper of the board meeting. The total proposed investment for Pune project is Rs 361.53 crore, while it is Rs 336 crore for the Kancheepuram project. (ET).
* ET - Economic Times, BS - Business Standard, BL - Business Line, TOI - Times of India, Mint, IE - Indian Express, BT - Business Today, IE - Indian Express
Global Markets
 

DJIA and NASDAQ Composite

US markets closed on a mixed note on Tuesday, with the Dow Jones Industrials falling just short of registering its tenth record close of the year. The Dow Jones Index closed at 27,691, up 0.00 points by 0.00%. The Standard & Poors 500 index closed at 3,092, up 4.83 points by 0.16%. The Nasdaq Composite Index closed at 8,486, up 21.81 points by 0.26%.

FTSE 100

UK markets finished higher on Tuesday as investors mulled the latest reading on the UK jobs market and looked ahead to a speech by US President Donald Trump for any clues on trade talks with China. The FTSE 100 index closed at 7,365, up 36.90 points by 0.50%.

 
 
Global Indices
12/11/2019 Clsg Chg%
Dow Jones 27,691 +0.00
NASDAQ 8,486 +0.26
FTSE 100 7,365 +0.50
Bovespa 106,752 -1.49
13/11/2019 Latest
(6:40AM IST)
Chg%
Nikkei 23,357 -0.69
Hang Seng 27,065 +0.52

Nikkei

Asian stocks and Wall Street futures fell on Wednesday on growing worries U.S.-China trade talks are stalling after President Donald Trump failed to deliver any new information about when the two countries would sign a trade deal. Nikkei is currently trading at 23,357, down 162.74 points by 0.69%.

Precious Metals

Gold futures marked a fourth straight session decline on Tuesday to settle at their lowest since August, as strength in the U.S. dollar and fresh highs for U.S. stock benchmarks contributed to waning demand for haven gold.

Base Metals

The three-month nickel price on the London Metal Exchange improved at the close of trading on Tuesday November 12, climbing by around 0.5% on high turnover, while the rest of the base metals complex struggled to close in positive territory.

Crude Oil

Oil prices fell on Wednesday as diminishing prospects for an immediate resolution to a 16-month long trade war between the world’s two-largest economies suggested less demand for energy in the future.

 
 
 

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