European shares held steady at the end of a strong week as a rally in commodities softened, although strong earnings updates boosted shares in Ericsson and Telia.
Sensex after moving between 34,311.29 and 34,487.33, finally settled 11.71 pts, or 0.03 pc, lower at 34,415.58, while Nifty closed 1.25 pts, or 0.01 pc down at 10,564.05.
Talk that Saudi Arabia has its sights on $80-$100 a barrel oil again ignited a fierce rally in commodities and resource stocks on Thursday.
Investors are strapping themselves in tight and bracing for another ride on the Russian rollercoaster next week after turbulent trading in wake of new US sanctions.
MSCI’s world equity index .MIWD00000PUS fell for the second day, while European shares declined 0.1 percent in early deals.
Fresh dealmaking activity helped support European shares, although investors remained cautious on worries over the prospect of US military action in Syria.
The pan-European STOXX 600 index was last down 0.3 percent, while in Asia overnight Japan's Nikkei .N225 and Australian stocks both lost 0.4 percent.
Gains were widespread, with the STOXX 600 closing up 0.82%, slightly below Wall Street, where the S&P 500 .SPX was up 1.8% in morning trading.
Germany’s DAX rose 1 percent, France’s CAC 40 0.57 percent and Britain FTSE 100 0.41 percent.
European shares fell alongside global stock markets as fears of a worsening trade conflict between the United States and China continued to worry investors.
Steel Ministry To Announce Scrap Policy This Year
Draft Scrappage Policy Allows Benefits For Vehicles Older Than 20 Yrs
Steel Secy Arun Sharma Says Policy Will Be Out By December 2018
Scheme Will Come In Effect From April 2020
Telenor India Eyes Bankruptcy Filing, Merger Plan With Airtel May Take Hit
Legal Tussle Over Bank Guarantee Could Also Delay Govt Approval
Economic Times Reports
Lenders To Meet Today To Decide On Essar Steel
CoC May Give Time To Arcelor And Numetal To Rectify Bids
Business Standard Reports
IPO under SEBI scanner
SEBI has sought details of investment made by ICICI Prudential MF
Had to cut its IPO Size To Rs 3,520 Cr from original target of Rs 4,017 Cr
A large chunk was bought by ICICI MF
ICICI MF is ICICI Securities largest public shareholder with 3.82% stake
Board approves proposal for corporate restructuring
Move aimed at simplifying & clarifying structure & holdings
To focus on travel, forex, destination mgmt & portfolio investments
Restructuring will consolidate HR services into Quess Corp
Shareholders will receive 1,889 shares of Quess for every 10,000 Shares Held in Co