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Gold prices were largely steady on Tuesday, retreating from an over six-year peak hit in the previous session, as U.S. President Donald Trump signalled a possible reconciliation with China, calming worries about an escalation in their trade war. Spot gold was up 0.1% to $1,528.10 per ounce, as of 0347 GMT. Gold prices on Monday surged to their highest in more than six years, surpassing the $1,550 mark in early trade, before paring gains after Washington and Beijing indicated a possible thaw in their trade spat. The non-yielding bullion is often seen as a safer investment during times of political and financial uncertainty. U.S. gold futures were up 0.1% to $1,538 an ounce. "Prices are steady because of the conciliatory tone both China and Trump sounded yesterday; the market started to hope that there is some deal coming out of the trade dispute," said Helen Lau, analyst, Argonaut Securities. Lau added that hopes for monetary policy easing by ce...

Nifty continued to remain volatile as it couldn’t manage to hold gains. The index has immediate support at 10,970. Nifty50 closed the rangebound session lower on August 19 but managed to hold psychological 11,000 levels amid mixed global cues and hoped of stimulus measures from the government to revive the economy. The index continued to remain volatile as it could not manage to hold gains and shut shop in the red. Now, the index has immediate support at 10,970. After touching intraday high and low at 11,076.30 and 10,985.30 respectively, the index ended the day with a loss of 37 points, or 0.33 percent, at 11,017. Among the 50 stocks in the index, 20 advanced and 30 declined. The index formed a bearish candle on daily charts as selling pressure was seen at higher levels while, at the same time, the decline was being bought into the market. On the Options front, maximum Put open interest is at 11,000 followed by 10,800 strikes while maximum Call open inter...

Low-cost carriers SpiceJet and IndiGo would shift their operations to the Indira Gandhi International Airport's T3 from T2 from September 5. While SpiceJet would shift its entire operations, the largest private carrier IndiGo would move part of their local flights. With rising air traffic and a surge in flight movement from the IGI airport, private airport firm Delhi International Airport Ltd (DIAL) is in the process of upgrading the T2 terminal. "Post completion of capacity enhancement of T2, the terminal will be able to handle 18 million passengers per annum (MPPA), up from current 15 MPPA (now)," DIAL said in a statement. Videh Kumar Jaipuriar, CEO of the airport firm, said that with Delhi airport witnessing a surge in passenger traffic, DIAL is enhancing the capacity of T2. "The move will ease the pressure of fast-growing traffic so that the capacity enhancement works at Terminal 2 can be carried out effectively and efficiently. We appre...

The rupee has been Asia's worst performer in August but a string of positive news could arrest the fall in the coming days. After a long phase of consolidation, the USDINR, as expected, continued the up move in the previous week too. Though the bulls opted for profit booking at higher levels and on a weekly basis, the currency pair closed off the week high but still gained 86 paise. The dollar has appreciated more than 3.3 percent the last three weeks but the currency pair is likely to settle down at current levels and minor dip is also not ruled out. The huge rally of the last three weeks is now showing signs of abating, as prices formed “island reversal” candlestick pattern on the daily chart basis. Long positions should be avoided as there is a gap on daily as well as weekly chart and currency pair is trading far away from its 20-day moving average (DMA). Generally, any extraordinary change in price is settled down near its 20 DMA and in this case, i...

Shares of Apollo Hospitals Enterprise Ltd have gained 10% since it announced its June quarter results on 13 August. With the performance reassuring investors on asset optimization and profit metrics, the stock hit a new 52-week high of  1,4687 on Friday. Losses the company’s new ventures, housed under Apollo Health and Lifestyle Ltd, reduced significantly. And, higher revenues at its pharmacy and hospitals improved operating earnings by 27%. Consolidated profit margins rose to 11.4% year-on-year, taking it to the highest levels in recent quarters. However, the quarter saw a moderation in inpatient growth compared to the year-ago period. “Inpatient volume growth moderated in the quarter to 5.9% for the healthcare business and pricing/mix was the key driver of the 15% (revenue) growth," said Jefferies India Pvt. Ltd in a note. Even so, the profitability gap between new and established hospitals remains enormous and has scope for improvement. Additionally, per-sto...

Kushner, Trump's son-in-law, is the main architect of a proposed $50 billion economic development plan for the Palestinians, Jordan, Egypt, and Lebanon that is designed to create peace in the region. US President Donald Trump said he would likely wait until after Israel's September 17 elections to release a peace plan for the region that was designed by White House senior adviser Jared Kushner.  Kushner, Trump's son-in-law, is the main architect of a proposed $50 billion economic development plan for the Palestinians, Jordan, Egypt, and Lebanon that is designed to create peace in the region. Best Share Market News, Click Here To Get More News -  Share Market tips , for 2 Days Free T rial give a missed call @9644405057 and Get Share Market Services.

The rupee recovered from early lows to close higher by 13 paise at 71.14 against the US currency on August 16 in line with firm local equities, defying gains in the greenback overseas and foreign capital outflows. The Indian rupee opened marginally lower at 71.17 per dollar on Monday versus Friday's close 71.14. The rupee recovered from early lows to close higher by 13 paise at 71.14 against the US currency on August 16 in line with firm local equities, defying gains in the greenback overseas and foreign capital outflows. The rupee opened on a weak note and fell to a day's low of 71.47 due to gains in the dollar and crude oil in global markets, it added. Best Share Market News, Click Here To Get More News -  Share Market tips , for 2 Days Free T rial give a missed call @9644405057 and Get Share Market Services.

Prakash Gaba of prakashgaba.com suggests buying Bajaj Auto Pharma with the target at Rs 2810 and stop loss at Rs 2717. The recovery in afternoon helped market close moderately higher on August 16 as traders await government's act to revive slowing economy. The sectoral trend was mixed with Nifty Bank and Auto indices gaining 0.7 percent and 1.15 percent respectively while Pharma, IT and Metal closed in red. The BSE Sensex gained 38.80 points to close at 37,350.33 while the Nifty50 rose 18.40 points to 11,047.80 and formed Doji kind of pattern on daily charts as opening and closing values are almost equal. For the week, the index lost 0.56 percent and saw Hammer kind of candle formation on weekly scale, which is bullish reversal candle by nature so there could be some upside in coming session. The broader markets gained 0.2 percent on Friday, but lost more than half a percent for the week. According to the pivot charts, key support level is placed at 10,958...

The Nifty continues to remain in an uptrend in the medium term, so buying on dips continues to be our preferred strategy. The Nifty started the week on a flat note and remained in a narrow trading range throughout the week. The index closed at 11,048 with a loss of 62 points for the week ended August 16. On the weekly chart, the index has formed a bearish candle and remained restricted within the previous week's high-low range indicating a lack of strength on either side. The index is moving in a lower top, and lower bottom formation on the daily chart indicating negative bias. The chart pattern suggests that if Nifty crosses and sustains above 11,100 levels then it would witness buying which would take the index towards 11,200-11,260 levels. However, if the index breaks below 10,900 level then it would witness selling pressure which would take it towards 10,800-10,750. The Nifty is trading below 20, 50, 100 and 200-day SMA's, which are an import...

आईडीबीआई बैंक (IDBI Bank), ओरिएंटल बैंक ऑफ कॉमर्स (Oriental Bank of Commerce) और बैंक ऑफ महाराष्ट्र (Bank of Maharashtra) के बाद अब इंडियन ओवरसीज बैंक (Indian Overseas Bank) ने भी एमसीएलआर (MCLR) में कटौती की है। बैंक ने एमसीएलआर 15 आधार अंक तक घटायी है। हाल ही में आरबीआई द्वारा रेपो दर में 35 आधार अंकों की कटौती किये जाने के बाद बैंकों ने अपनी न्यूनतम ऋण दर में कटौती की, जिससे उपभोक्ताओं को राहत मिलेगी। इंडियन ओवरसीज बैंक ने एक दिन के लिए 8.15% से घटा कर 8.05%, एक महीने के लिए 8.30% से घटा कर 8.20%, तीन महीनों के लिए 8.45% से कम करके 8.35%, 6 महीनों के लिए 8.50% से 8.40%, एक साल के लिए 8.65% के मुकाबले 8.50%, 2 साल के लिए 8.75% की जगह 8.60% और 3 साल के लिए 8.85% के मुकाबले 8.70% कर दी है। बता दें कि एमसीएलआर वह दर होती है, जिससे नीचे बैंक कुछ अपवाद स्थितियों को छोड़ कर ऋण नहीं दे सकता। एमसीएलआर की दर घटने से आवास, ऑटो, व्यक्तिगत और बाकी सभी प्रकार के ऋण सस्ते हो जायेंगे, क्योंकि ये सभी एमसीएलआर पर ही आधारित होते हैं। दूसरी तरफ बीएसई में इंडियन ओवरसीज बैंक का शेयर शुक्रवार ...

Oil prices rose more than $1 a barrel on Friday, supported by a drop in European inventories and OPEC output cuts despite the International Energy Agency reporting demand growth at its lowest since the financial crisis of 2008. Brent crude futures gained $1.15, or 2%, to settle at $58.53 a barrel. U.S. West Texas Intermediate (WTI) crude futures rose $1.96, or 3.7%, to settle at $54.50 a barrel. "Despite a further cut in oil demand growth by the IEA, oil prices are trading marginally higher, as the demand growth cut was already announced previously by the head of the IEA and the agency still expects larger inventory draws for 2H19," said UBS analyst Giovanni Staunovo. The IEA said global oil demand to May from January grew at its slowest since 2008, hurt by mounting signs of an economic slowdown and a ramping up of the U.S.-China trade war. Oil prices rose after Euroilstock data showed total crude and product inventories of 16 European nations in July ...

In a major blow to the defaulting company IL&FS' auditors Deloitte and BSR and Associates, the Mumbai bench of the National Company Law Tribunal (NCLT) on Friday said that it has jurisdiction over these firms and the authority to ban them under the Companies Act for their alleged role in financial misappropriation. Deloitte Haskins and Sells (Deloitte) and global advisory firm KPMG arm BSR had challenged the NCLT's jurisdiction to prosecute the companies and ban them after the Corporate Affairs Ministry (MCA) had sought such a five-year ban on them.  The tribunal said that the order is "appealable" and it was aware of the fact that the case could move ahead to the National Company Law Appellate Tribunal and the Supreme Court.  Both the audit companies have been under the MCA's scanner after the probe by the Serious Fraud Investigation Office (SFIO) found that Deloitte had disregarded the Reserve Bank of India's (RBI) regulations and t...

There are hopes that the surcharge tax on FPIs will be reduced but if it happens or not is anybody’s guess. And if it does, markets will cheer and open gap up in the next week. Any positive news by the government will definitely cause a short-term buzz of buying in the markets taking indices to its 50 percent retracement levels of 11,450, Umesh Mehta, Head of Research, SAMCO Securities, said in an interview with Moneycontrol’s Kshitij Anand. Q: It was an eventful week for Indian markets. The S&P BSE Sensex is back above 37,000 while the Nifty reclaimed 11,000. How are markets likely to pan out in the coming week? A: Since there are no major events awaiting the Street and all the local and global factors such as trade wars, currency, etc., have been factored in, markets will move on speculations. There are hopes that the surcharge tax on FPIs will be reduced but if it happens or not is anybody’s guess. And if it does, markets will cheer and open up the gap ...

Such sharp rallies are often a result of some pep talk or some relief measure which often fizzles out trapping the bulls who bought on the hopes that a new rally will begin. The Indian market snapped a four-week losing streak to close with gains of over 1 percent. The Nifty rose 1.02 percent while the S&P BSE Sensex closed with gains of 1.25 percent for the week ended August 9. The S&P BSE Sensex is now back above 37,000 while the Nifty also managed to reclaim 11,100 levels for the first time since July 31. The broader market performed in line with benchmark indices as the S&P BSE Midcap index rose 0.92 percent while the S&P BSE Smallcap index closed with gains of 1.62 percent for the week ended August 9. More than 300 stocks in the S&P BSE 500 index closed in positive while as many as 19 stocks closed with gains of 10-30 percent which included names like Jammu & Kashmir Bank, Venky’s, Apar Industries, Future Consumer, Vinati Organics, Ce...

The company reported a standalone net profit of Rs 62.73 crore for the quarter ended June 30, 2019, as compared to Rs 57.67 crore in the same period last year, registering a year-on-year growth of 8.77 percent.  Net revenue of the company declined marginally by 3.56 percent at Rs 587.67 crore in the April-June quarter of this fiscal as against Rs 609.35 crore in the corresponding period last year. During the April-June quarter, operating expenses dropped by 6.59 percent to Rs 484.67 crore from Rs 518.85 crore in the year-ago period. Other Income dipped by 33.71 percent at Rs 11.07 crore versus (Jun'18 Rs 16.70 crore). Operating Profit surged by 13.81 percent to Rs 103.00 crore as against Rs 90.50 crore in the year-ago period, while Operating Profit Margin (OPM) expanded year-on-year to 18.05 percent in June quarter. Interest declined by 19.83 percent y-o-y to Rs 3.80 crore, while Taxation increased by 15.03 percent at Rs 33.22 crore (Jun'18 Rs 28.88 crore). ...