Markets

Equity Futures:Auto cos bought as BJP seen addressing rural distress

Friday, May 24 By Apoorva Choubey  MUMBAI –  Hopes that the Bharatiya Janata Party-led National Democratic Alliance would soon come up with steps to boost farm incomes triggered buying in the May futures of automobile companies that cater to rural India.  The equity market is optimistic that the BJP will deliver on populist promises that...

India Stocks Review: Surge on hopes of econ reforms, liquidity boost

Friday, May 24 By Kanchan Yadav MUMBAI – Optimism that the National Democratic Alliance will take measures to address key issues that the economy is facing, propelled buying by the institutional investors, mostly foreign, which led the benchmark equity indices to their record closing highs.  The Bharatiya Janata Party-led NDA has retained powers at the...

India Crude:MCX, NYMEX up over 1% on bargain buying post 6% fall Thu

Friday, May 24 By Roshni Devi MUMBAI – Crude oil contracts on the Multi Commodity Exchange of India and the New York Mercantile Exchange rebounded and rose more than 1% today due to bargain buying after prices fell more than 6% on Thursday, analysts said. The rupee's strength against the dollar limited the rise...

India Bullion: Falls on strong rupee, COMEX slips on profit booking

Friday, May 24 By Roshni Devi MUMBAI – Profit booking and a strong rupee against the dollar weighed on bullion contracts on the Multi Commodity Exchange of India today, analysts said. A firm rupee makes the import of dollar-denominated commodities like gold cheaper. At 1654 IST, the June gold contract on MCX was down...

India Rubber: Ends tad down on ICEX on fresh selling post 8-mo high

Friday, May 24 By Rahul Dhuri MUMBAI – Rubber futures on Indian Commodity Exchange ended marginally lower as investors added short positions after prices hit an eight-month high of 14,752 rupees per 100 kg earlier today, analysts said. The most-active June contract of rubber ended down 0.1% at 14,521 rupees per 100 kg. A 123-tn...

Short-Term Debt: Rates flat, market pins hope on liquidity support

Friday, May 24 By Rituparna Ghosh MUMBAI – Issuances of short-term debt papers rose today, but rates remained flat, with dealers assessing the possibility of liquidity supporting measures after the results of the General Elections showed the Bharatiya Janata Party-led National Democratic Alliance retaining power.  Since Sunday's exit polls, which predicted a victory for the...

India Edible Oil: Mixed; soybean up tailing upbeat sentiment on CBOT

Friday, May 24 By Kaushal Verma NEW DELHI - Futures contracts of soybean and refined soyoil rose on domestic exchanges today, while those of crude palm oil and mustard fell. Soybean futures on the National Commodity & Derivatives Exchange settled higher, in line with gains in key contracts on the Chicago Board of Trade,...

India Corporate Bonds: Yields down 5-10 bps as market cheers BJP win

Friday, May 24 By Sanjana Raina MUMBAI – Yields on corporate bonds fell by 5-10 basis points across maturities today as domestic investors as well as foreign institutional investors bought papers, in light of the overall positive sentiment in the market post-elections, dealers said. While the Bharatiya Janata Party's resounding victory in Lok Sabha elections is seen paving the way...

India Gilts Review:Off-highs as auction cutoff for 10-yr disappoints

Friday, May 24 By Bhaskar Dutta NEW DELHI – Government bonds closed off-highs because of persistent profit booking after the recent surge in prices and as the cutoff price for the 10-year paper at today's auction disappointed the market, dealers said. Today, the 10-year benchmark 7.26%, 2029 bond closed at 100.22 rupees or...

India IRS Review: Rates down on sharp fall in US ylds, crude oil

Friday, May 24 By Bhaskar Dutta NEW DELHI – Overnight indexed swap rates fell today because of a steep decline in US Treasury yields and crude oil prices, although tight liquidity conditions limited the fall in short-term rates, dealers said. Today, the one-year OIS rate settled at 5.83-5.87% as against 5.84-5.88% on Thursday, while...


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