Sensex Today: Sensex ends 80 points lower, Nifty at 10,874 mark; Cox & Kings hits all time low

Equity indices Sensex and Nifty closed on a positive note on Wednesday, backed by increased buying interest in banking, financial services and metal indices. While Sensex closed 161 points higher at 36,724, Nifty ended the day's trade at 10,844, registering an advance of 46 points. Sensex Today: Sensex ends 161 points higher, Nifty at 10,844; Tata Steel, BPCL, IOC top gainers  

Net investment of equity and debt reported by foreign portfolio investors (FPIs) remained bearish with net selling logged at Rs 1,738.49 crore from Indian equities while domestic institutional investors (DIIs) bought Rs 1,304.58 crore on Wednesday.  

Reliance Jio Fiber will roll out commercially today and the registered users will be able to get a high-speed internet connection and smart home solution from September 5 onwards. The announcement related to Jio Fiber was made on August 12 by Mukesh Ambani, Chairman of Reliance Industries Ltd. At launch, Jio Fiber is expected to offer one of the cheapest broadband plans and take on existing players like Bharti Airtel and ACT Fibernet. JioFiber commercial launch today: 10 things to know before buying Jio Fiber connection  

Equity indices are trading on a strong bullish note in the pre-open session , with Sensex rising over 300 points and Nifty strting the day above 10,840 mark.  

Globally, markets reacted on a bullish note as easing tensions in Hong Kong after removation of China's extradition's bill and British lawmakers’ approval of a law to delay Brexit provided relief to investors worried about global growth. Asian stocks rallied after China announced next round of trade talks with US. Trends on SGX Nifty on the Singaporean Exchange traded up 22 pts at 10,879.50, which indicated a positive opening for the broader index in India. Later it rose 34 points gain or 0.31 percent. US Futures (Dow Jones) trades at 26,642 up 270 pts  

RBI makes mandatory for banks to link all new floating rate personal or retail loans & floating rate loans to MSMEs to an external benchmark effective October 1. RBI has also added that the banks are free to decide the spread over external benchmark. Home, auto loans to get cheaper! RBI makes repo-linked interest rates mandatory  

Equity indices opened on a strong note, with Sensex rising almost 100 points to 36,821.71, and Nifty started the day at 10,860.95, with a rise of 24 points. Currently Sensex is trading at 36,873 and Nifty has breached the level 10,900.

Aditya Birla Capital announced today that the company board has approved issuance of equity shares on a preferential basis aggregating to Rs. 21,000 million,in the following manner: -To issue an aggregate consideration of Rs. 7.7 crore (Rupees Seven Thousand and Seven Hundred million only) on a preferential basis to Grasim Industries Limited, -To issue an aggregate consideration of Rs. 2.3 crore (Rupees Two Thousand and Three Hundred million only) on a preferential basis to Surya Kiran Investments Pte. Limited, IGH Holdings Private Limited and Pilanl Investment and Industries Corporation Limited, members of Promoter Group of the Company; -To issue an aggregate consideration of Rs. 1 cr (Rupees One Thousand million only) on a preferential basis to PI Opportunities Fund—I (“Investor I") -To issue an aggregate consideration of Rs 10 cr (Rupees Ten Thousand million only) on a preferential basis to Jomei Investments Limited ("Investor II").

Markets were already on an upward trajectory after the leader of Hong Kong on Wednesday withdrew a controversial extradition bill that had sparked months of violent protests in the financial hub. The good news kept coming as the day wore on. Italy formed a new moderate, pro-European government, while British MPs moved closer to passing a law preventing a no-deal Brexit. Then on Thursday morning, China announced it would resume trade talks with the United States in Washington next month. (PTI)

The rupee appreciated by 27 paise to 71.85 against the US dollar in early trade on Thursday as gains in domestic equity market enthused investors. At the interbank foreign exchange the rupee opened at 71.87, then gained further ground and touched a high of 71.85, registering a rise of 27 paise over its previous close.

The domestic unit however could not hold on to the gains and was trading at 71.93 against the dollar at 0955 hrs. Rupee had settled at 72.12 against the US dollar on Wednesday.

The U.S. Commerce Department said on Wednesday it imposed duties on Chinese and Mexican structural steel after making a preliminary determination that producers in both countries had dumped fabricated structural steel on the U.S. market at prices below fair market value.  The department said it imposed duties of up to 141% on Chinese structural steel and up to 31% on Mexican structural steel and will begin collecting cash deposits for imports based on those rates. (Reuters)  

Multi Commodity Exchange of India (MCX) and Zhengzhou Commodity Exchange (ZCE), one of the leading commodity exchanges in China, have signed Memorandum of Understanding (MoU) for cooperation and the exchange of information. The MoU is intended to facilitate cooperation between the two exchanges in areas such as knowledge sharing, education & training, organizing events as well as to explore areas of mutual interests between the exchanges.  

Shares of Oil and Natural Gas Corporation Ltd. (ONGC) rose over 9% intraday on Thursday after the oil and gas company issued a clarification on the fire accident at ONGC's oil and gas processing plant in Uran processing unit.

ONGC formed a gap up chart pattern with the opening bell and later rose 9.03% to touch an intraday high of Rs 129.8 on BSE, against the last closing price of Rs 119.05.

"The accident occurred near Demineralized Water Plant (Oily Water Sewage Pit) and CISF security cabin which was outside the main process area. All out efforts were made to control the situation and fire was brought under control within a short span of time with the internal safety provisions aided by MARG (Mutual Aid Resource Group)," the company said in its BSE filing.

"Gas processing was restricted to maintain supplies to internal power generation and also to meet the requirements of Mahanagar Gas Limited and the remaining gas quantities are diverted to the other processing unit of the Company at Hazira Plant", the filing added.

The company further said that the offshore crude supply remained unaffected from the unfortunate accident.

ONGC jumps 9% after clarification on fire incident in Navi Mumbai plant

 

Gold prices dropped on Thursday as risk-on sentiment got a boost after China and the United States agreed to hold talks to end their protracted trade dispute.

Spot gold fell 0.5% to $1,545.37 per ounce as of 0327 GMT, set to snap a three-day gaining streak. Prices touched $1,557 on Wednesday, their highest since April 2013.

U.S. gold futures dropped 0.4% to $1,554.00 per ounce.

Gold prices slip as China-U.S. trade talk hopes lift risk appetite