Stock Broker Archives - Page 2 of 8

7Apr

By Administrator_IndiaNo Comments

Commodity Broker, International, Stock Broker

OPEC+ likely to agree to cut production if U.S. joins effort

By Administrator_India Capital Sands Major oil producers including Saudi Arabia and Russia are likely to agree to cut production at a Thursday meeting but only if the United States joins the effort, aimed at coping with the disastrous effect of the coronavirus on fuel demand, three OPEC+ sources told. Worldwide oil demand has dropped by roughly 30%, or about 30 million barrels a day, at the same time that Saudi Arabia and Russia have been flooding markets with extra supply. Last week, in response to a weeks-long market rout, the Organization of the Petroleum Exporting Countries and its allies including Russia, a group known as OPEC+, started talking about cutting production, but want other non-OPEC nations to participate, particularly the United States. Two OPEC sources sai...

6Apr

By Administrator_IndiaNo Comments

Commodity Broker, International, Stock Broker

Oil drops over $1 on oversupply after OPEC+ delays meeting

By Administrator_India Capital Sands Oil prices slipped more than $1 a barrel on Monday, after the world’s top producers delayed a meeting to discuss output cuts that could partly alleviate oversupply in global markets as the coronavirus pandemic pummels demand. Brent crude slipped close to $30 a barrel in early trade and was at $32.82 by 0203 GMT, down $1.29, or 3.8%. West Texas Intermediat crude fell $1.66, or 5.9%, to $26.68 a barrel, after earlier touching a low of $25.28. Late last week, prices surged, with U.S. and Brent contracts posting their largest ever weekly percentage gains due to hopes that OPEC and its allies would strike a deal to cut crude supply worldwide by at least 10 million barrels per day. Prices on both sides of the Atlantic marked their worst ...

3Apr

By Administrator_IndiaNo Comments

International, Stock Broker

Indian rupee’s coronavirus-induced weakness to linger in near-term

By Administrator_India Capital Sands The Indian rupee will probably cut some of its losses against the dollar in the next year, according to strategists polled by Reuters, but it’s likely to stay weak with other emerging-market currencies until the coronavirus pandemic subsides. The rupee’s path will largely depend on how successful the Indian government’s steps are in containing the spread of COVID-19 in a country of more than 1.3 billion people, the second-most-populous in the world. Prime Minister Narendra Modi has ordered a 21-day national lockdown, which began on March 25. But the government’s fiscal response so far has been modest compared with other countries: 1.7 trillion rupees ($22.3 billion) in direct cash transfers and food security measures. After giving up ove...

2Apr

By Administrator_IndiaNo Comments

Commodity Broker, International, Political News, Stock Broker

COVID-19 cases and deaths rising, debt relief needed for poorest nations

By Administrator_India Capital Sands The head of the World Health Organization voiced deep concern on Wednesday about the rapid escalation and global spread of COVID-19 cases from the new coronavirus, which has now reached 205 countries and territories. WHO Director-General Tedros Adhanom Ghebreyesus said that his agency, the World Bank and the International Monetary Fund backed debt relief to help developing countries cope with the pandemic’s social and economic consequences. “In the past five weeks there has been a near-exponential growth in the number of new cases and the number of deaths has more than doubled in the past week,” Tedros told a virtual news conference at the organisation’s Geneva headquarters. “In the next few days we will reach 1 million confirmed cases a...

31Mar

By Administrator_IndiaNo Comments

Commodity Broker, International, Political News, Stock Broker

Free cooking gas for poor during lockdown set to push up India’s imports

By Administrator_India Capital Sands India’s liquefied petroleum gas (LPG) imports are set to surge in the June quarter as a move to provide free cooking gas coincides with lower crude processing by refiners hit by collapsing local fuel demand, company officials said. Indian refiners are processing less crude oil into fuels like LPG as industries close during a 21-day nationwide lockdown from March 25, aimed at preventing the spread of coronavirus. The outbreak has also hit overseas fuel demand. Last week India announced it would provide free cooking gas cylinders to poorer citizens for three months, under a scheme meant to nudge them to adopt the cleaner fuel. Normally beneficiaries of the scheme get LPG at cheaper rates. India’s LPG imports could rise by as much as 700,00...

30Mar

By Administrator_IndiaNo Comments

Commodity Broker, International, Political News, Stock Broker

Singapore eases monetary policy sharply as virus heralds deep recession

By Administrator_India Capital Sands Singapore’s central bank aggressively eased its monetary policy on Monday, as widely expected, with the city-state’s bellwether economy bracing for a deep recession due to the coronavirus pandemic. The Monetary Authority of Singapore manages monetary policy through exchange rate settings, rather than interest rates, letting the Singapore dollar rise or fall against currencies of its main trading partners within an undisclosed band. Economists said the changes are the most aggressive easing since the 2009 financial crisis and also come as the central bank forecast deflation and a sharp economic contraction in 2020. The MAS said it would adopt a zero percent annual appreciation rate for its Singapore dollar policy band, known as the Nomina...

27Mar

By Administrator_IndiaNo Comments

Commodity Broker, International, Political News, Stock Broker

Russia calls for new enlarged OPEC deal to tackle oil demand collapse

By Administrator_India Capital Sands A new OPEC+ deal to balance oil markets might be possible if other countries join in, Kirill Dmitriev, head of Russia's sovereign wealth fund said, adding that countries should also cooperate to cushion the economic fallout from coronavirus. A pact between the Organization of the Petroleum Exporting Countries and other producers, including Russia (known as OPEC+), to curb oil production to support prices fell apart earlier this month, sending global oil prices into a tailspin. Dmitriev and the Energy Minister Alexander Novak were Russia's top negotiators in the production cut deal with OPEC. The existing deal expires on March 31. "We are in contact with Saudi Arabia and a number of other countries. Based on these contacts we see that if ...

27Mar

By Administrator_IndiaNo Comments

Commodity Broker, International, Political News, Stock Broker

India’s migrant workers face long walk home amid coronavirus lockdown

By Administrator_India Capital Sands After India imposed a 21-day nationwide lockdown on Tuesday to prevent the spread of coronavirus, the plywood factory near Uttar Pradesh’s state capital Lucknow where Surendra Pandey works was forced to shut down. On Thursday morning, with no way of earning a living, the 28-year-old labourer set off on a 110-kilometre (68-mile) walk back to his home village. “I tried catching a bus or truck yesterday, but there is no transport available on the road, so I decided to walk,” he told Reuters, some 30 km (19 miles) into his journey. “There is no food available on the roads but thankfully a few citizens offer us food, biscuits and water. It’s better to be home than to be here in the city without food and water.” Officials say the shutdown o...

26Mar

By Administrator_IndiaNo Comments

Commodity Broker, International, Political News, Stock Broker

FM Sitharaman announces Rs 1.70 lk cr relief under PM Gareeb Kalyan Anna Yojana for food

By Administrator_India Capital Sands The government will provide free rice/wheat and pulses to poor for the next three months, Finance Minister Nirmala Sitharaman said during a press briefing on March 26. She announced the Prime Minister Gareeb Kalyan Scheme of Rs 1.70 lakh crore, for which the measures, include Rs 50 lakh insurance cover for all frontline medical 'warriors', Sitharaman said. The Scheme will be in two silos - one food related and one for cash transfer - largely under direct benefit transfer , she added. "The government announces the Prime Minister Gareeb Kalyan Anna Yojana for 80 crore people, which is 2/3rd of the population," she said.The finance minister announced, "each person will get 5 kg of rice or wheat ove...

25Mar

By Administrator_IndiaNo Comments

Commodity Broker, International, Political News, Stock Broker

Sensex up 1,861.75 points, Nifty settles at 8317.85

By Administrator_India Capital Sands Equity benchmark indices on Wednesday (March 25) closed in the green amid expectations of fiscal measures being announced by the government. The Sensex was up 1,861.75 points or 6.98% at 28535.78, while the broader Nifty ended up 516.80 points or 6.62% at 8317.85. Major gainers on the Nifty were Reliance Industries, HDFC Bank, Kotak Mahindra Bank, Grasim Industries and UPL and top loser stocks were Yes Bank, IndusInd Bank, IOC, and Coal India. About 1194 shares advanced, 976 stocks declined, while 153 shares remain unchanged. During the afternoon trade, equity benchmark indices ticked up by 4 per cent as Asian shares extended a rally after Wall Street`s strong rebound overnight. At 1 pm, the BSE Sensex was up by 1,175 points or 4.41 p...