The OPEC+ coalition, consisting of 23 nations, is set to hold its next meeting on December 5, likely in a virtual format. This shift is the third time the alliance has held meetings online since the Covid-19 pandemic. Crude prices currently hover around $75 per barrel, insufficient for many OPEC members to meet budgetary needs….
On Thursday, BEML declared that it has secured an order from Chennai Metro Rail valued at Rs 3658 crore. The scope of the contract is extensive and includes depot machinery and plant, standard gauge metro rolling stock (electrical multiple units), design, production, delivery, testing, commissioning, and employee training. “Following Regulation 30 read with Schedule III…
Rio Tinto (LON:RIO) lifted force majeure on alumina exports from Australian refineries and eased supply constraints, sending aluminum prices down 0.04% to ₹241.75. RUSAL announced a phased reduction in aluminum production by 250,000 tonnes due to record-high alumina costs that have risen to nearly $700/tonne by early 2024. China, the world’s largest aluminum producer, has…
In three trading days, foreign institutional investors (FIIs) bought stocks worth Rs 11,100 crore, marking a significant resurgence in Indian markets after weeks of relentless selling. After 38 consecutive sessions of net withdrawals from Indian markets, this is a notable turnaround. On Monday, FIIs bought stocks valued at Rs 9,947.55 crore, starting the purchasing trend….
The company’s renewable energy division, NTPC Green Energy, recovered well from a lackluster stock exchange debut. Within 30 minutes after listing, the shares were up 13.65% and had reached the upper circuit of Rs 122.75 on the BSE. Likewise, the shares went up 13.56% to Rs 122.65 on the NSE, which was a substantial increase…
Cotton candy prices declined by 0.52% to ₹55,910. India’s cotton production is forecast to decline by 7.4% to 30.2 million bales for 2024/25, with reduced acreage and high rainfall damaging crops. The USDA slightly overestimated the production figure at 30.72 million bales, but lowered ending stocks to 12.38 million bales. Cultivated area declined significantly to…
The Nifty Smallcap 100 has risen almost 5% in the last four sessions. Foreign institutional investors (FIIs) reduced their selling pressure and became marginal buyers, contributing to a strong rally in broader market indices. Up 5% in four consecutive sessions until November 27, the Nifty Smallcap 100 outperformed the headline Nifty 50, which increased 4.21…
Jeera futures fell by 0.14% to ₹25,050 due to increased arrivals in key markets like Unjha. Farmers hold 35% of the current season’s stock, with carryover stocks at around 20 lakh bags. Export prospects are favorable, with a rise in demand post-Diwali. Indian cumin, currently priced at $3,050 per tonne, remains the cheapest globally, making…
Gold prices rose modestly in Asian trade on Tuesday as the US president’s warnings of additional trade tariffs boosted demand. The price of the yellow metal fell sharply from earlier as various reports suggested that a ceasefire between Israel and Lebanon was nearing. Challenges to ease tensions between Israel and the Lebanese militant group Hezbollah,…
Turmeric prices fell by -3.91% to ₹13,806, driven by weak demand and rising arrivals. Market sentiment is bearish as the upcoming season is projected to be 30-35% higher than last year, indicating a significant increase in production. However, the downside is limited due to reports of crop damage from heavy rains, suggesting potential production losses….
