Global crude oil prices

Saudi Aramco shares were indicated at 35.2 riyal ($9.39) each in the pre-market auction on December 11, 10 percent above their initial public offering (IPO) price of 32 riyals.Saudi Aramco's shares began trading domestically on December 11, after the energy behemoth raised $25.6 billion in the world's biggest initial public offering.Aramco had priced its IPO at 32 riyals ($8.53) per share, the high end of the target range, surpassing the $25 billion raised by Chinese retail giant Alibaba in its 2014 Wall Street debut.Close The sale of 1.5 percent of the firm, or three billion shares, is the bedrock of de facto ruler Crown Prince Mohammed bin Salman's ambitious strategy to overhaul the oil-reliant economy. related news After year of living dangerously, Fed expected to signal time to lie low India's fuel demand growth hits 23-month high in November Dollar treads water as traders stare at event risk A 10 percent increase in the share price would take its market … [Read more...] about Aramco IPO: Shares indicated up 10% from IPO price ahead of debut

The Nifty50 is expected to open flat on December 11, with a positive bias tracking mixed trend seen in other Asian markets as Sino-US trade talks approached a weekend deadline with little sign of progress.Investors are beginning to suspect that even if US tariffs, due to take effect on December 15, are delayed, it may be 2020 before Washington and Beijing can agree on a broader rapprochement, said a Reuters report.Trends on SGX Nifty indicate a positive opening for the broader index in India, with an 8.5-point gain, or 0.07 percent. The Nifty futures were trading around 11,915 level on the Singaporean Exchange.Close Let’s look at the final tally on D-Street. The S&P BSE Sensex fell 247 points to 40,239 while the Nifty50 closed with losses of 80 points to 11,856. related news Market Live: Sensex, Nifty open higher; Yes Bank, metal stocks in focus What changed for the market while you were sleeping? Top 10 things to know The rupee settled 12 paise higher at 70.92 … [Read more...] about Market Headstart: Nifty50 seen opening flat; Yes Bank, Bharti Airtel eyed

Indian markets resumed their southward journey after falling by about 1 percent in the previous week. The S&P BSE Sensex was down by more than 200 points while the Nifty50 failed to hold on to 11900-11880 levels.Banking stocks remained under pressure throughout the trading session after the State Bank of India (SBI) reported bad loan divergence of Rs 11,932 crore for the last financial year, the country's largest lender said in a notification to exchanges. The stock closed 1.04 percent lower at Rs 313.45.Close Let’s look at the final tally on D-Street – the S&P BSE Sensex fell 247 points to 40,239 while the Nifty50 closed with losses of 80 points to 11,856. related news Hot Stocks: Here’s why JB Chemicals & Eris Lifesciences could give over 12% returns in 3-4 weeks Market Headstart: Nifty50 seen opening flat; Yes Bank, Bharti Airtel eyed What changed for the market while you were sleeping? Top 10 things to know Sectorally, the public sector, … [Read more...] about Early on D-Street | Selling pressure could increase if Nifty fails to hold 11,844

The Monetary Policy Committee (MPC) decided to cut the repo rate under the liquidity adjustment facility (LAF) by 35 basis points (bps) from 5.75 percent to 5.40 percent with immediate effect.“The decisions are in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4 per cent within a band of +/- 2 percent while supporting growth,” the Bank’s statement read.The rate cut, based on an assessment of the current and evolving macroeconomic situation, was announced after the MPC’s meeting on August 7.Close The revised reverse repo rate under the LAF now stands at 5.15 per cent, and the marginal standing facility (MSF) rate and the Bank Rate at 5.65 per cent. The MPC also decided to maintain the accommodative stance of monetary policy. related news Cabinet clears amendments to insolvency law Cabinet Meeting Highlights: Approves Partial Credit Guarantee Scheme for PSBs to purchase financially sound … [Read more...] about Rate cut in consonance with medium-term CPI inflation objective, says RBI

The Indian rupee erased morning gains but trading higher by 7 paise at 70.85 per dollar, with domestic equity market witnessing volatility.It opened higher at 70.89 per dollar versus previous close 70.92.On December 10, the rupee ended 12 paise higher at 70.92 against the US dollar amid softening crude oil prices and weakening of the greenback vis-a-vis major global currencies.Close The Sensex was down 35.71 points or 0.09% at 40,204.17, and the Nifty was down 14.10 points or 0.12% at 11,842.70. related news Market Headstart: Nifty50 seen opening flat; Yes Bank, Bharti Airtel eyed Rupee settles 12 paise up at 70.92 against US dollar Oil prices fell on Wednesday after industry data showed a surprise build in crude oil inventory in the United States and as investors waited for news on whether a fresh round of US tariffs on Chinese goods would take effect on Sunday.The dollar-rupee December contract on the NSE was at 71.03 in the previous session. Open interest declined … [Read more...] about Rupee erases gains but trades higher at 70.85 per dollar