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Showing posts from January, 2020

Stock Market News - Yellow metal hits fresh record high as Iran attacks US forces

On the MCX, gold contracts for February were trading higher by Rs 562, or 1.38 percent, at Rs 41,225 per 10 gram at 0920 hours. It hit a record high of 42,278 per 10 gm.India Gold February futures hit a fresh record high on January 8 tracking gains in international spot prices which surged past $1,600 an ounce mark after Iran fired rockets at Iraqi airbase which hosts US forces that triggered risk-off sentiment. Spot prices hit their highest since March 2013 at $1,610.90 earlier in the session. US gold futures rose 2 percent to $1,605.80. “The jump in the price of what’s viewed by investors as a safer asset in times of political and economic uncertainty came after Iran’s missile attack on US-led forces in Iraq early on Wednesday,” said a Reuters report. “The attack came hours after the funeral of an Iranian commander whose killing in a US drone strike has raised fears of a wider conflict in the Middle-East,” it said. On the MCX, gold contracts for February were trading higher by Rs 562, o…

Stock Market News - Trade war worries kept base metal prices under pressure in 2019

The trade deal developments and its impact on the global economy remain the trendsetter of commodity prices in 2020. A successful deal will boost global economic activity and improve the demand for base metals.

In the past year, trade uncertainty hit global economic sentiments adversely as base metal prices in the domestic futures market settled with moderate gains. Commodities such as copper and lead ended with gains of 8 percent, while aluminium and zinc advanced 6 percent and 4 percent, respectively. Performance of nickel was exceptional with a whopping gain of more than 40 percent. At the same time, price-performance at its key overseas markets was rather steady. Trade war worries that fanned fears of recession roiled the global manufacturing sector last year, particularly China. This because Chinese industries are the key consumers of all base metals. Economic growth in the country tumbled to multi-year lows due to the 17-month trade dispute between the United States and China. The pe…

Stock Market News - FDC share price at 52-week high on GMP certificate from UK health regulator

The certificate came after a recent inspection of the company's facilities in Goa.
FDC share price touched a 52-week high of Rs 222, rising more than 5 percent in the morning trade on January 3 after the company received the good manufacturing practice (GMP) certificate from the UK's health regulator. The UK's Medicines and Healthcare Products Regulatory Agency also continued with its approved status for the company's two facilities in Verna, Goa. The GMP certificate was issued after a recent inspection of the two plants. At 1018 hours, FDC was quoting at Rs 218.00, up Rs 7.30, or 3.46 percent. The share price has risen 30 percent in the last three months. GNFC share price down 2% after DoT seeks Rs 15K cr in telecom dues
DoT sent the company a demand notice for Rs 15,019 crore, taking to Rs 3.13 lakh crore the amount it has sought from non-telecom companies following a Supreme Court ruling.
The share price of Gujarat Narmada Valley Fertilizers & Chemicals was down over 2…