logo
OPEC+ Cheer to Boost India's State-Owned Oil Refiners

OPEC+ Cheer to Boost India's State-Owned Oil Refiners

Bloomberg05-03-2025
Before the trading day starts we bring you a digest of the key news and events that are likely to move markets. Today we look at:
Good morning, this is Chiranjivi Chakraborty, an equities reporter in Mumbai. After their longest losing streak on record, Indian stocks look poised for a rebound. Nifty futures indicate a positive start for the market as easing concern around US tariffs on Canada and Mexico lift Asian equities. Back home, traders are stumped by the National Stock Exchange's decision to change the expiry schedule for its futures and options contracts, with the move being seen as a bid to wrest market share from smaller rival BSE Ltd.'s weekly option contracts.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Nifty top gainers this week (ending August 1): Jio Financial Services, Hindustan Unilever, L&T, Asian Paints, Trent and more
Nifty top gainers this week (ending August 1): Jio Financial Services, Hindustan Unilever, L&T, Asian Paints, Trent and more

Business Upturn

time4 hours ago

  • Business Upturn

Nifty top gainers this week (ending August 1): Jio Financial Services, Hindustan Unilever, L&T, Asian Paints, Trent and more

By Aman Shukla Published on August 2, 2025, 09:12 IST The Indian stock market closed Friday's session on a downbeat note, with both benchmark indices—the Sensex and Nifty 50—slipping around 1% each. The Sensex ended 586 points lower at 80,600, while the Nifty dropped 203 points to close at 24,565. This marks the fifth consecutive weekly fall for the Indian equity market, making it the longest losing streak in nearly two years. Despite the bearish close to the week, several heavyweight stocks in the Nifty 50 index delivered notable weekly gains. Let's take a closer look at the top 10 losers of the Nifty 50 this week, according to Trendlyne. Top Nifty Gainers for the Week Jio Financial Services : Up 5.9%, closed at ₹329.5 Hindustan Unilever : Up 5.7%, closed at ₹2553.7 Larsen & Toubro : Up 4.2%, closed at ₹3587.3 Asian Paints : Up 4.1%, closed at ₹2431.0 Trent : Up 2.7%, closed at ₹5180.0 Hero MotoCorp : Up 1.9%, closed at ₹4311.6 Eicher Motors : Up 1.8%, closed at ₹5528.0 ITC : Up 1.7%, closed at ₹416.5 Tata Consumer Products : Up 1.5%, closed at ₹1070.4 Grasim Industries: Up 0.5%, closed at ₹2722.2 Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Ask ChatGPDisclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Ahmedabad Plane Crash Asian PaintsHindustan UnileverJio Financial ServicesL&TNiftyTrent Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at

Nifty top losers this week (ending August 1): Adani Enterprises, Wipro, Kotak Mahindra Bank, Tata Motors, Tata Steel and more
Nifty top losers this week (ending August 1): Adani Enterprises, Wipro, Kotak Mahindra Bank, Tata Motors, Tata Steel and more

Business Upturn

time4 hours ago

  • Business Upturn

Nifty top losers this week (ending August 1): Adani Enterprises, Wipro, Kotak Mahindra Bank, Tata Motors, Tata Steel and more

By Aman Shukla Published on August 2, 2025, 09:17 IST The Indian stock market wrapped up Friday's session (August 2) on a weak note, with both benchmark indices—BSE Sensex and NSE Nifty 50—sliding nearly 1% each. The Sensex dropped 586 points to close at 80,600, while the Nifty 50 ended the day 203 points lower at 24,565. This marks the fifth straight weekly decline for Indian equities—its longest losing streak in nearly two years. Several heavyweight stocks took a significant hit this week. Based on data from Trendlyne, here are the top 10 losers from the Nifty 50: Top Nifty Losers for the Week Adani Enterprises Closed at ₹2,350.90, down 7.8% this week. Wipro Ended at ₹242.80, falling 6.4% over the week. Kotak Mahindra Bank Settled at ₹1,992.40, slipping 6.2% . Tata Motors Closed at ₹648.90, down 5.6% week-on-week. Tata Steel Finished at ₹153.00, declining 5.2% . IndusInd Bank Ended the week at ₹783.70, lower by 4.9% . Bharat Electronics Closed at ₹377.20, posting a 4.6% weekly drop. Dr. Reddy's Laboratories Settled at ₹1,220.60, down 4.5% . Titan Company Finished at ₹3,316.00, falling 4.2% over the week. Tata Consultancy Services (TCS) Ended the week at ₹3,003.00, down 4.2%. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Ahmedabad Plane Crash Adani enterprisesKotak Mahindra BankNiftyTata MotorsTata SteelWipro Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at

Cocoa Prices Sharply Lower on the Outlook for Adequate Supplies
Cocoa Prices Sharply Lower on the Outlook for Adequate Supplies

Yahoo

time12 hours ago

  • Yahoo

Cocoa Prices Sharply Lower on the Outlook for Adequate Supplies

September ICE NY cocoa (CCU25) on Friday closed down -274 (-3.22%), and September ICE London cocoa #7 (CAU25) closed down -165 (-2.92%). Cocoa prices settled sharply lower Friday as supply concerns eased on speculation that cocoa will be exempt from President Trump's tariffs. US Commerce Secretary Lutnick noted earlier this week that goods not produced in the US could be exempted from tariffs. More News from Barchart Brazil Tariff Risks Underpin Arabica Coffee Prices Arabica Coffee Rises as Tariff Risks Remain Cocoa Prices Settle Sharply Higher on Supply Woes Stop Missing Market Moves: Get the FREE Barchart Brief – your midday dose of stock movers, trending sectors, and actionable trade ideas, delivered right to your inbox. Sign Up Now! Earlier this week, cocoa prices rallied to 1-month highs on concern that the slowdown in the pace of Ivory Coast cocoa exports could tighten global supplies. Monday's government data showed that Ivory Coast farmers shipped 1.75 MMT of cocoa to ports this marketing year from October 1 to July 27, up +6.1% from last year but down from the much larger +35% increase seen in December. Concerns about dry weather in West Africa are also bullish for cocoa prices. According to the European Centre for Medium-Range Weather Forecasts, rainfall in the Ivory Coast and Ghana this season remains below the 30-year average, and combined with high temperatures, risks hurting cocoa pod development for the main crop harvest that starts in October. Concerns over tepid chocolate demand are bearish for cocoa prices. Last Tuesday, chocolate maker Lindt & Spruengli AG lowered its margin guidance for the year due to a larger-than-expected decline in first-half chocolate sales. Also, chocolate maker Barry Callebaut AG reduced its sales volume guidance earlier this month for a second time in three months, citing persistently high cocoa prices. The company projects a decline in full-year sales volume and reported a -9.5% drop in its sales volume for the March-May period, the largest quarterly decline in a decade. Cocoa prices sold off last month, with NY cocoa sinking to an 8.5-month nearest-futures low and London cocoa slumping to a 17-month nearest-futures low. Weakness in global cocoa demand has hammered prices. The European Cocoa Association reported on July 17 that Q2 European cocoa grindings fell by -7.2% y/y to 331,762 MT, a bigger decline than expectations of -5% y/y. Also, the Cocoa Association of Asia reported that Q2 Asian cocoa grindings fell -16.3% y/y to 176,644 MT, the smallest amount for a Q2 in 8 years. North American Q2 cocoa grindings fell -2.8% y/y to 101,865 MT, which was a smaller decline than the declines seen in Asia and Europe. In a bearish development, ICE-monitored cocoa inventories held in US ports reached a 10.5-month high of 2,368,141 bags last Tuesday. Higher cocoa production by Ghana is bearish for cocoa prices. On July 1, the Ghana Cocoa Board projected the 2025/26 Ghana cocoa crop would increase by +8.3% y/y to 650,000 from 600,000 MT in 2024/25. Ghana is the world's second-largest cocoa producer. Cocoa prices have support from quality concerns regarding the Ivory Coast's mid-crop cocoa, which is currently being harvested through September. Cocoa processors are complaining about the quality of the crop and have rejected truckloads of Ivory Coast cocoa beans. Processors reported that about 5% to 6% of the mid-crop cocoa in each truckload is of poor quality, compared with 1% during the main crop. According to Rabobank, the poor quality of the Ivory Coast's mid-crop is partly attributed to late-arriving rain in the region, which limited crop growth. The mid-crop is the smaller of the two annual cocoa harvests, which typically starts in April. The average estimate for this year's Ivory Coast mid-crop is 400,000 MT, down -9% from last year's 440,000 MT. On May 30, the International Cocoa Organization (ICCO) revised its 2023/24 global cocoa deficit to -494,000 MT from a February estimate of -441,000 MT, the largest deficit in over 60 years. ICCO said 2023/24 cocoa production fell by 13.1% y/y to 4.380 MMT. ICCO stated that the 2023/24 global cocoa stocks-to-grindings ratio declined to a 46-year low of 27.0%. Looking ahead to 2024/25, ICCO on February 28 forecasted a global cocoa surplus of 142,000 MT for 2024/25, the first surplus in four years. ICCO also projected that 2024/25 global cocoa production will rise +7.8% y/y to 4.84 MMT. On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store