Markets at noon INDEX LATEST PREVIOUS CHANGE CHANGE(%) BSE SENSEX 35602.32 35622.14 -19.82 -0.06 BSE 500 14790.41 14813.40 -22.99 -0.16 BSE MID-CAP 15975.58 16001.20 -25.62 -0.16 BSE SMALL-CAP 16854.54 16961.16 -106.62 -0.63 S&P BSE LARGECAP 4204.15 4207.19 -3.04 -0.07 > More on BSE Indices Oil slumps near $64 as OPEC clash looms, US-China trade war escalates Oil fell near $64 a barrel as Saudi Arabia and Russia prepared for a clash with allied crude producers over whether to lift output and as China and the US exchanged threats over trade. Futures in New York dropped as much as 2.3 per cent, on course for the lowest close since April 9 after a 2.7 per cent decline Friday. Iran says Venezuela and Iraq will join in blocking a proposal to increase production that’s backed by Saudi Arabia and Russia when OPEC and its allies meet in Vienna this week. China said it would impose tariffs on a variety of US goods, including crude and gasoline, in response to President Donald Trump’s $50 billion levy on Chinese imports READ MORE DoT may clear Voda-Idea merger today; seeks Rs 21 bn bank guarantee The telecom department is likely to approve the merger of Vodafone India and Idea Cellular today that will create the country's largest mobile service operator with proposed name of Vodafone Idea Ltd. "DoT is expected to clear the Vodafone-Idea merger on Monday. The certificate will be handed to them," said an official source. READ MORE Gold prices inched higher on Monday after falling to a 5-1/2-month low in the previous session, as a trade dispute between the world's two largest economies triggered safe-haven buying, but a strong dollar put a cap on the upside. Spot gold edged up 0.1 per cent to $1,279.70 per ounce by 0255 GMT. The yellow metal touched its weakest since late December at $1,275.01 an ounce on Friday. CLICK HERE FOR MORE BS Special Vajpayee's NDA versus Modi's NDA: What it means to stock markets? Since the NDA formed a government under the leadership of Prime Minister Narendra Modi in 2014, the Sensex has jumped over 54 per cent from May that year to above 35,000 in 2018. The performance of the domestic stock markets during the present NDA government seems far superior to that of the previous one. In contrast to the 54 per cent jump so far, the Sensex almost stagnated around 5,000 points during the previous NDA government. It was at 5,033 in mid-October 1999 and fell down marginally to 5,006 in May 2004 when the government ended its term. READ MORE DMart's lower same store sales, margins keep analysts on the sidelines The Avenue Supermarts stock is a favourite of investors. So much so that its market capitalisation is higher than the next ten listed multi-brand retailers. While investor demand has led to the doubling of the stock since its listing, barring a few names such as Goldman Sachs and HSBC, most brokerages are now cautious. Of the 15 analysts who track the stock as per Bloomberg, about two-thirds have a sell or a hold rating. Their average target price is Rs 1,336 for the stock trading at Rs 1,538. READ MORE
US President Donald Trump on Friday said he was pushing ahead with hefty tariffs on $50 billion of Chinese imports, and the smouldering trade war between the world's two largest economies showed signs of igniting as Beijing immediately vowed to respond in kind.
Back home, foreign investors have pulled out more than Rs 55 bn from capital markets this month so far due to global trade war worries coupled with hawkish commentary by the US Federal Reserve. This comes following a net outflow of over Rs 450 bn from capital markets (equity and debt) in the last two months. Prior to that, foreign portfolio investors (FPIs) had pumped in Rs 26 bn in March.
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