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NEW DELHI: Dalal Street had another positive ending to the week, thanks to firm cues on the global front. However, top market mavens seem to be more concerned with how the economy is doing. They are continuously calling for more measures to help get the economy on track. “Falling interest rates, easy monetary policy across the globe and liquidity will limit the downside for the market. Global growth sentiment will help domestic indices to subside weak CPI and industrial data in the near term. With positive momentum extending to midcaps and smallcaps as well, we believe this potential change in risk appetite may help investors to look beyond the polarised market,” said Vinod Nair, Head of Research at Geojit Financial Services. Sandip Sabharwal, an independent market expert, said the government continues to pursue its non-economic agenda, while India has entered stagflation. Industrial Production contracts at 3.8% in October, a peak festival month. CPI spikes upto 5.54% … [Read more...] about Tweet Buster: Has money policy run its course? When to dump stocks

The Competition Commission Friday said it has cleared a deal involving Blackstone Group, auto parts maker Sona BLW Precision Forgings and Chennai-based Comstar Automotive. According to the CCI, the deal involves acquisition of up to 66.28 per cent share capital in Sona BLW by Blackstone Group and merger of Comstar in Sona BLW. Currently, Comstar Automotive is a wholly-owned subsidiary of Blackstone Group. In a tweet on Friday, the Competiton Commission of India (CCI) said it "approves proposed combination between Sona BLW Precision Forgings Ltd, Blackstone Group, Comstar Automotive Technologies Pvt Ltd and Comstar Automotive Hong Kong Limited". Blackstone is a global private equity major, while Sona BLW is a subsidiary of Sona Autocomp Holding Pvt Ltd (SAHPL), which holds 67.44 per cent shares in Sona and the remaining is with JM Financial Trustee. It is engaged in manufacturing precision forged bevel gears, differential case assemblies and other auto-components. In a separate … [Read more...] about Competition Commission clears Blackstone-Sona BLW deal

The 30-share Sensex ended down 208 points at 28,261 and the 50-share Nifty closed 64 points lower at 8,571. Benchmark share indices extended losses for the third straight day as investors booked profits at higher levels with ICICI Bank and FMCG majors leading the decline. The 30-share Sensex ended down 208 points at 28,261 and the 50-share Nifty closed 64 points lower at 8,571. "The passing of the mining bill by the Rajya Sabha is a positive. However, traders seem to book profits at higher levels post any positive news be it the Insurance Bill, US Fed outcome and Mining Bill. Further, fourth quarter earnings are also seen weak," said Prakash Diwan, Director, Altamount Capital Management.Further, foreign portfolio investors (FPIs) bought shares worth Rs 1,428.72 crore on Thursday, as per provisional data released by the stock exchanges. Meanwhile, according to global rating agency Fitch India’s gross domestic product (GDP) to grow at 8.0% in 2015-16 and 8.3% in the next … [Read more...] about Markets end in red; NTPC, ICICI Bank fall sharply

By Julian Lee There was an elephant in the room during the recent OPEC+ meeting: The record-breaking initial public offering of Saudi Arabia’s mammoth oil company Saudi Aramco occurring at exactly the same time. The coincidence meant that the output cuts agreed by OPEC and its allies were designed as much to bolster the share price of Saudi Arabian Oil Co., as they were to balance the oil market going into 2020. This will greatly complicate matters for Saudi Arabia when it finds itself having to impose discipline on fellow producers looking for ways to adhere to their targets without actually cutting production. The deal is much weaker than it looks. The headlines out of Vienna took markets by surprise. The group cut their collective output target by a further 500,000 barrels a day for the first quarter of 2020, taking the reduction from 2018 baselines to 1.7 million barrels a day. Saudi Arabia, the kingmaker in all oil matters, said it would reduce its own target by a further … [Read more...] about Opec+ deal isn’t worth the paper it’s written on

The National Capital Region (NCR) has seen 22% drop in housing sales on quarterly basis, according to a report by Anarock consultancy. As per the report, with sales of nearly 9,830 units in Quarter 3, 2019, the sales dropped yearly by 13% and nearly 22% on quarterly basis. Among the top 7 cites, NCR was second in recording maximum decline on quarterly basis. According to the report, Collectively, NCR saw new supply of 5790 units in Q3 2019 as against 4,200 units a year ago and nearly 13,570 units in the preceding quarter of Q2 2019. “Gurgaon saw maximum new launches in Q3 2019 comprising 2,030 units, increasing by 75% from 1,160 units in Q3 2018. Faridabad followed next and saw new launches of approx. 1,190 units in Q3 2019, up by 36% against the preceding quarter,” the report said. With festival season approaching, developers are hopeful of better performance. Greater Noida and Noida that saw minimal new supply, clocked in maximum sales in the third quarter this year … [Read more...] about Housing sale decline by 22% in NCR: Report