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Category: Business

Sensex, Nifty Edge Lower on Profit-Taking After Four-Day Rally

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Mumbai: Indian stock markets edged lower on Tuesday for the first time in five days as investors booked profits in banking shares such as State Bank of India amid cautious trading ahead of major central bank meetings. Asian stock markets also wobbled, after they hit a two-month high in the previous session, ahead of the European Central Bank’s policy review on Thursday and U.S. Federal Reserve’s policy meeting next week. “It’s a retracement that we are seeing after last week’s rally,” said AK Prabhakar, head of research at IDBI Capital.…

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Sensex Ends Rangebound Session on a Flat Note

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The Sensex and Nifty ended Tuesday’s rangebound session on a flat note as losses in banking and IT stocks offset the gains registered in metal and oil & gas stocks. The Sensex ended 13 points higher at 24,659 and Nifty ended slightly unchanged at 7,485 against its previous close. In the intraday deals, the Sensex touched high of 24,793 and low of 24,509. While, the Nifty moved in a band of 85 points. Buying was visible in metal and oil & gas stocks on the back of sustained rally in…

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Who’s Next? Asia Investor Activism Set to Grow After BlackRock Public Campaign

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Hong Kong: Following a rare public campaign, BlackRock Inc voted against a deal planned by a Hong Kong firm that the world’s biggest asset manager partly owns, revving up investor activism in Asia after it roared ahead in 2015. In a ballot on Tuesday, BlackRock rejected G-Resources Group Ltd’s plan to sell its main asset, an Indonesian gold mine, saying it didn’t have confidence G-Resources would use the proceeds in investors’ best interests. Owning 8 percent of G-Resources, BlackRock urged other shareholders to follow suit. G-Resources, which has said it…

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