Trading of CNX Nifty futures on the Singapore stock exchange indicates a flat opening on the domestic bourses today, 5 November 2014. HSBC Services PMI for October 2014 will be announced today, 5 November 2014. Asian stocks declined today, 5 November 2014 as commodity producers slumped.
Infosys announced on Tuesday, 4 November 2014, that it is helping Fayetteville Public Works Commission (FPWC) become more customer centric, operationally efficient, agile and smart grid ready. The two-year transformation program saw Infosys overhauling FPWC's core ERP business processes and implementing Oracle software platforms along with the Infosys Customer Self-Service Energy Manager (CSEM) solution. Infosys CSEM, which is part of the Infosys Smart Grid Suite of products, helps utilities enhance customer experience through self-service and manage usage through adoption of energy efficient programs. The transformation program covered critical functions across FPWC including customer service, finance, human resources, supply chain, work management and field services.
State-owned miner NMDC has slashed price of iron ore lumps by Rs 200 per tonne for November 2014, the first time it has opted for a rate cut in four months. However, the company has decided to roll over the last month's price for iron ore fines.
After the latest rate cut, the price of lump ore, used mainly by domestic steel makers, now stands at Rs 4400 a tonne from Rs 4600 earlier. The price of fines, however, remains unchanged at Rs 3160 a tonne.
NMDC, which reviews prices every month going by domestic demand, had not changed rates in the last four months, since July 2014.
Meanwhile, NMDC said that its total iron ore production rose 13.06% to 16.71 million tonne in the 7-months period ended October 2014 over the 7-months period ended October 2013. Total iron ore sales rose 10.11% to 17.65 million tonne in the 7-months period ended October 2014 over the 7-months period ended October 2013.
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Jindal Steel & Power's consolidated net profit fell 2.26% to Rs 441.83 crore on 7.15% rise in total income to Rs 5183.18 crore in Q2 September 2014 over Q2 September 2013. The result was announced on Tuesday, 4 November 2014.
A divergent trend was witnessed as the barometer index, the S&P BSE Sensex, registered small losses while the 50-unit CNX Nifty registered miniscule gains. The S&P BSE Sensex fell 5.45 points or 0.02% to settle at 27,860.38, its lowest closing level since 30 October 2014.
Meanwhile, the provisional data released by the stock exchanges after trading hours on Monday, 3 November 2014, showed that foreign portfolio investors (FPIs) bought shares worth a net Rs 1413.34 crore on that day.
Trading for this week is truncated as stock market remains closed tomorrow, 6 November 2014, on account of Gurunanak Jayanti. Earlier, the stock market had remained shut on Tuesday, 4 November 2014, on account of Muharram.
Asian stocks declined today, 5 November 2014 as commodity producers slumped. Key benchmark indices in Singapore, China, Taiwan, Hong Kong, Japan and Indonesia fell by 0.1% to 0.59%. South Korea's Seoul Composite index rose 0.08%.
The HSBC China services purchasing managers index edged down to 52.9 in October from 53.5 in September, but most major components of the index remain solid, HSBC Holdings PLC said today, 5 November 2014. A reading above 50 indicates month-on-month expansion while a level below that points to contraction.
US stocks ended lower on Tuesday, 4 November 2014 as another big drop in oil prices dragged down energy shares and Priceline's earnings forecast disappointed.
The European Central Bank (ECB) and Bank of England (BoE) will make interest-rate decisions tomorrow, 6 November 2014.
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