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OPEC is set to carry on pumping oil nearly flat-out for months more, content that last year's shock market therapy has revived moribund demand and knocked back growing competition.With oil prices having stabilised, for now, at around $65 a barrel, some $20 off their January lows, there's little appetite within the Organization of the Petroleum Exporting Countries to modify production limits, as some ...
Crude oil prices fell on Wednesday as oversupply weighed on markets, with OPEC not expected to announce a production cut at its meeting on Friday.Core Gulf members of the Organization of the Petroleum Exporting Countries (OPEC), which controls over 40 percent of the world's crude production, have a consensus to maintain the group's oil output at its meeting this week, a senior Gulf OPEC delegate told ...
Gold eased on Wednesday even as the dollar nursed sharp losses on expectations of a Greek debt deal, with investor sentiment remaining bearish due to outflows from bullion-backed funds. Spot gold slipped 0.2 percent to $1,191.40 an ounce by 0323 GMT, after gaining 0.4 percent on Tuesday. Traders said gold's overnight jump was underwhelming given the sharp drop in dollar and weak U.S. factory ...

Gold recovers on jewellers buying

2015-06-02 14:20:00

Gold prices edged up by Rs 45 to Rs 27,270 per ten grams at the bullion market today on scattered buying by jewellers at prevailing levels even as the metal weakened overseas. Silver also rebounded by Rs 200 to Rs 38,600 per kg on increased offtake by industrial units. Traders said fresh buying by jewellers at existing levels helped gold prices to recover from three-week lows but weak trend overseas, ...
MUMBAI (Reuters) - The BSE Sensex fell more than 1 percent, while benchmark 10-year bond yields rose to three-week highs on Wednesday, as a forecast for India's first drought in six years and a cautious statement on inflation from the Reserve Bank of India (RBI) soured sentiment. The losses come even after the RBI cut interest rates on Tuesday as investors were spooked by its cautious statement tying ...
MUMBAI (Reuters) - Property firm Unitech Ltd denied on Wednesday what it called "false and misleading" market rumours of the company defaulting on repayments to lenders, as its stock plunged as much as 50 percent, hitting its lowest in 10 years. As of 2:01 a.m., Unitech's stock was down 37 percent at 8.45 rupees, having hit a low of 6.75 rupees earlier. "Rumours are being spread by certain segments ...
Takata Corp will "rapidly" reduce production of a volatile chemical that has been linked to ruptured air bag inflators, a company executive told U.S. lawmakers on Tuesday.The chemical, ammonium nitrate, "appears to be one of the factors" contributing to inflator ruptures linked to six deaths and hundreds of injuries, Kevin Kennedy, executive vice president of Takata subsidiary TK Holdings, said.Kennedy ...
Prime Minister Narendra Modi plans to provide millions of farmers with income insurance linked to crop prices, officials say, but it may not do much to ease rural distress, with small farmers standing to benefit little and likely to be put off by bureaucracy.Modi's Bharatiya Janata Party, which swept to office a year ago, hopes to consolidate its power in local elections in large rural states over ...

Today's picks

2013-02-19 18:00:00

NIFT Current: 5,898 (futures: 5,906) Target: NA Index remains range-bound between 5,870 and 5,925 with very nominal futures premium. The range today could be 5,850 or 5,950. Stop-loss shorts at 5,925 and stop-loss long positions at 5,975. A long 5,800p (19) and long 6,000c (21) could gain 10-12 if the market swings 50 points in either direction. STATE BANK OF INDIA Current price: Rs 2,263 Target price: ...

Today's picks

2013-02-09 18:00:00

NIFTY Current: 5,939 (futures: 5,964);Target: NAThe downtrend continued. Key support was tested at 5,930. A drop below 5,920 could mean a dip till 5,875. A bounce will hit resistance at 5,975-5,990. Futures premium has increased to 25, which may mean a pullback on short-covering. The bearspread of long 5,900p (48) versus short 5,800p (23) continues to look attractive.TATA STEEL Current price: Rs 390;Target ...
MUMBAI (Reuters) - The BSE Sensex fell more than 1 percent, while benchmark 10-year bond yields rose to three-week highs on Wednesday, as a forecast for India's first drought in six years and a cautious statement on inflation from the Reserve Bank of India (RBI) soured sentiment. The losses come even after the RBI cut interest rates on Tuesday as investors were spooked by its cautious statement tying ...
MUMBAI (Reuters) - Property firm Unitech Ltd denied on Wednesday what it called "false and misleading" market rumours of the company defaulting on repayments to lenders, as its stock plunged as much as 50 percent, hitting its lowest in 10 years. As of 2:01 a.m., Unitech's stock was down 37 percent at 8.45 rupees, having hit a low of 6.75 rupees earlier. "Rumours are being spread by certain segments ...
MUMBAI (Reuters) - Property firm Unitech Ltd denied on Wednesday what it called "false and misleading" market rumours of the company defaulting on repayments to lenders, as its stock plunged as much as 50 percent, hitting its lowest in 10 years. As of 2:01 a.m., Unitech's stock was down 37 percent at 8.45 rupees, having hit a low of 6.75 rupees earlier. "Rumours are being spread by certain segments ...
MUMBAI (Reuters) - India, the world's biggest sugar consumer, is likely to start the 2015/16 marketing year on Oct. 1 with carry-forward stocks of 10.3 million tonnes, up 37 percent from the current year, an industry body said on Wednesday. The world's second-biggest sugar producer is likely to export mere 700,000 to 800,000 tonnes of the sweetener in the current season ending September despite producing ...
Takata Corp will "rapidly" reduce production of a volatile chemical that has been linked to ruptured air bag inflators, a company executive told U.S. lawmakers on Tuesday.The chemical, ammonium nitrate, "appears to be one of the factors" contributing to inflator ruptures linked to six deaths and hundreds of injuries, Kevin Kennedy, executive vice president of Takata subsidiary TK Holdings, said.Kennedy ...
By Paul Lienert DETROIT (Reuters) - Fiat Chrysler Automobiles in the past year has delayed the redesign or release of at least a dozen current or new vehicles in North America, according to suppliers familiar with the company's plans. The unusual number of delays could let the automaker defer billions of dollars in investment while searching for a partner. FCA Chief Executive Sergio Marchionne ...
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