Jet Airways gained 2.6 percent, while SpiceJet and IndiGo surged 5.05 percent and 2.81 percent intraday, respectively. Investors bet on these stocks on the possibility of cheaper aviation fuel due to falling crude prices
Consolidation in the telecom space would lead to bottoming out of the market. Bharti Airtel remains their top pick from the space because of its leadership and cost effectiveness of P&L account, Susmit Patodia, Head, Institutional Sales, MOSL.
US equities closed mixed as financials led decliners, while oil rebounded following the release of key supply data. The Dow Jones fell about 35 points, with Goldman Sachs contributing the most losses. The 10-year u-s benchmark bond yields declines for a third consecutive day to 2.34 percent, the lowest level in three weeks.
Watch Manisha Gupta of CNBC-TV18 speaking about the fall in crude prices. She also spoke about sugar prices and the strength in gold prices.
Countries complying with the Opec and Non-Opec countries' agreement is also going to decide crude prices. He says most countries have cut output by around 2.5-4 percent, but only time will tell if they continue to do so over a long period of time.
Since late November, major oil companies have announced 11 deals worth more than USD 500 million each with a combined value of USD 31 billion, the clearest sign yet that oil executives are more confident a recovery is underway.
Under the accord, the Organization of the Petroleum Exporting Countries and Russia and other non-members of the producer group will curtail oil output by nearly 1.8 million bpd, initially for six months.
Jayant Agro, the company dealing in organic chemicals has been a big mover in 2016 with the stock moving up by more than 150 percent. Speaking to CNBC-TV18, Vikram Udeshi, CFO of the company says that Jayant Agro may see a 10 to 15
Moneycontrol decodes what a likely increase in interest rates in the US means for India.
Crude prices surge as non-Organisation of the Petroleum Exporting Countries (OPEC) producers join OPEC in output cut. In a CNBC-TV18 interview, David Lennox of Fat Prophets shared his outlook on the same.
Fast-growing producer Iraq also agreed to curtail its booming output, while non-OPEC Russia will join output cuts for the first time in 15 years to help the Organization of the Petroleum Exporting Countries prop up oil prices.
The Organization of the Petroleum Exporting Countries on Wednesday agreed to its first output cut since 2008, with Saudi Arabia accepting "a big hit" on its production. Non-OPEC Russia will also join output reductions for the first time in 15 years to help OPEC prop up oil prices.
Improved operational efficiencies with supportive crude prices helped Cairn India report stellar set of earnings for the second quarter, say experts tracking the company.
Experts give their reading and outlook on commodity markets and specific commodities.
Speaking to CNBC-TV18, Sudeep Anand of IDBI Capital Markets says that upstream companies are likely to outperform downstream companies in near t- mid-term. IDBI Capital has a buy call on ONGC and GAIL.
Anubhuti Sahay, Head Of South Asia Economic Research, Standard Chartered Bank says the balance of payments surplus of USD 7 billion on the back of better than expected capital inflows is a big positive.
While Chennai Petroleum Corp (CPCL) reported halving of its June quarter net profit on lower refinery margin, the management expects crude throughput to improve in the coming quarters.
Indian states await a big boost to their finances this year as they are on course to get an additional Rs 24,000 crore bounty or more from the Centre by way of the excise duty share on oil products this fiscal year, which is set to jump by around Rs 60,000 crore.
In recent weeks traders have been hanging on every word from ministers of petro-states after officials confirmed earlier this month they would speak on the sidelines of the International Energy Forum next month about taking measures to prop up oil prices.
After climbing over eight percent last week oil fell over 3 percent today. Little bit of correction was expected after the steady rise seen in last few days, says Amrita Sen, Chief Oil Analyst at Energy Aspects.
Ian Hui of JP Morgan Asset Management says there is talk of the Organization of the Petroleum Exporting Countries (OPEC) considering a production freeze which might weigh down crude supply numbers.
Crude prices are seeing gains since the last two days on account of a drop in the dollar index, says Mriganka Jaipuriyar, Associate Editorial Director, Platts.
SGX Nifty was trading at 8708.00 down 8.50 points.
In an interview to CNBC-TV18 Cleef says it is most likely that crude will trade sideways with negative bias in the coming weeks and could certainly test the USD 42-43 per barrel range.
Wayne Gordon of UBS on a 12-month basis expects crude to head to USD 55 per barrel mark.