Sebi scans Facebook 'likes'; finds evidence in insider trading case To catch manipulators, markets regulator Sebi has started looking at Facebook accounts of suspected persons, with 'friends' and 'likes' for posts being scanned in insider trading cases. The watchdog checked the Facebook profiles of suspected persons to ascertain whether they were 'connected' in a case related to violation of insider trading norms. READ MORE Metal and mining stocks decline as copper prices fall Key indices moved in a small range in negative zone in mid-morning trade. At 11:19 IST, the barometer index, the S&P BSE Sensex, was down 48.83 points or 0.14% at 34,378.46. The Nifty 50 index was down 23.45 points or 0.22% at 10,541.85. Shares of index heavyweight Reliance Industries dropped. Metal and mining stocks declined as copper prices fell in global commodity markets. Telecom stocks saw mixed trend. Negative Asian stocks weighed on the domestic bourses. READ MORE Goldman sees strong oil demand through 2018 Goldman Sachs said it expects global oil demand growth to remain strong this year and contribute to further declines in oil inventories. "We believe that the combination of strong developed markets momentum and accelerating emerging markets growth will combine to keep oil demand growth above consensus expectations, with our 2018 year on year forecast at 1.85 million barrels per day (mb/d)," Goldman said in a note dated Thursday. Oil stocks face crucial earnings test as investors venture back in Formerly skeptical investors are buying back into oil majors in the hope that upcoming results will mark a turning point for energy stocks which have failed to keep pace with a surge in crude prices. Oil stocks could begin to close that gap if results live up to lofty expectations, with Goldman Sachs predicting the strongest free cash flow figures in a decade for the sector. Oil is the best-performing global asset this year, with Brent crude up 11.4 percent since January, but energy stocks have continued to lag the commodity. While Europe’s oil and gas sector is the best-performing year-to-date, it still has a way to go to catch up with crude. Fate almost sealed for ABG Shipyard, Alok Industries, Lanco Infratech They were once seen as among India’s most promising growth stories. Now, however, the fate of ABG Shipyard, Alok Industries and Lanco Infratech is seen as near-certain but in the opposite direction. With huge debt, few takers for their assets and the whopping write-offs (‘haircuts’) that banks are likely to take on the loans given to these companies, industry experts believe liquidation of the trio are among the few options. All three have defaulted on their huge payment obligations. READ MORE COMMENT Kotak Securities on MPC minutes We see 1HFY19 inflation in the range of 4.4-5.2% (RBI: 4.7-5.1%) and 4.1-4.8% in 2HFY19 (RBI: 4.4%), averaging around 4.5% for FY2019. Adjusting for the statistical impact of center’s 7CPC HRA, the average inflation is likely to be around 4.2%, ranging 3.9-4.7% in 1HFY19 (RBI: 4.4-4.7%) and 4-4.6% in 2HFY19 (RBI: 4.4%). CPI inflation outturn amid various uncertainties will be crucial in assessing the RBI’s next move. While we continue to expect the MPC to maintain a status quo in FY2019, the probability of rate hike has increased after the minutes suggested that more members are inclined towards withdrawal of accommodation
Among sectoral indices, the Nifty PSU Bank index slipped nearly 2.5% led by a fall in shares of Bank of India and IDBI Bank.
TCS shares hit a 52-week high on Friday after the company on Thursday announced a strong set of numbers for the March quarter (Q4), as well as full 2017-18, backed by all-round growth in key verticals and geographies, and digital services and solutions.
