The S&P BSE Sensex declined 0.6 percent, the most in two weeks, to 35,907.31 as of 9:53 a.m. in Mumbai, while the NSE Nifty 50 Index slipped 0.7 percent. Markets across Asia tumbled following the biggest slide on Wall Street since mid-October.
India Business News
US, China Reportedly Reach Agreement to Halt Additional Tariffs After January 1, Chinese State Television
Gold Silver Reports (GSR) – Citing Chinese media, “no additional tariffs will be imposed after January 1, and negotiations between the two sides will continue,” the report said, according to state television’s English-language service. It gave no further details.
Fed Points to December rate hike but is worried about Tariffs and Debt
Minutes released Thursday from the Nov. 7-8 meeting of the Federal Open Market Committee, which sets interest rates, pointed toward the strong likelihood of another quarter-point adjustment in the central bank’s benchmark rate target next month.
Breaking News – Fed’s Vice Chairman Clarida: Would Not Agree That Fed Hikes Are Going Too Far Or Too Fast -Will Set Policy To Meet Congressional Goals
Fed’s Vice Chair Clarida: Gradual Approach Has Served The Fed Well – CNBC -Policy Rate Is Barely Above Inflation Rate -Fed Needs To Be Data dependent
MCX Crude Tips – Watch 3949 Level, Above we See Target 4160 (Trade With Small Lots)
MCX Crude Tips – Watch 3949 Level, Above we See Target 4160 (Trade With Small Lots)
OIL REPORT — 1-U.S. Shale Oil Output to Hit Record High 7.9 Mln Bpd in Dec -EIA
Gold Silver Reports (GSR) – The total oil output from the basins was expected to rise 113,000 bpd, driven largely by increases in the Permian Basin of Texas and New Mexico, where output was forecast to climb by 63,000 bpd to about 3.7 million bpd in December, the U.S. Department of Energy’s Energy Information Administration (EIA) said.
Diwali Muhurat Trading 2018: MCX, NSE, BSE Trading Time on 7 November; Updates Here
“A special live trading session shall be held on Wednesday, November 07, 2018 on account of Muhurat trading on Diwali,” National Stock Exchange said in a circular. “All trades executed in this Diwali Muhurat trading session shall result in settlement obligations,” NSE said in a statement.
Moody’s Investors Service today said that the Profitability of Indian Banks
Moody’s Investors Service today said that the profitability of Indian banks is “distinctively weak” compared with those in the association of five major emerging national economies: Brazil, Russia, India, China and South Africa.
China and European Woes Weigh on Equities But Buy the Dollar
The markets are having a rough adjustment to the return of the Chinese markets are the week-long holiday. The cut in the required reserves failed to lift investor sentiment. The Shanghai and Shenzhen Composites fell almost 4%, and the yuan slid nearly 0.8%. It is an unusually large decline for the closely managed currency.