#NIFTY50 CLOSING BELL: 1st December, 2014 #Nifty closed negative at 8555.90 (-32.35 or -0.38%) after marking a record high of 8623 in Intraday trade. #BankNifty flat at 18525.30 (+12.15 points or +0.07%) after a much volatile trade whole day. #NiftyGainers: #AsianPaints, #HeroMotoCorp, #DLF, #IndusindBank and #HUL #NiftyLosers: #NMDC, #ONGC, #Hindalco, #JindalSteel and #BHEL #MajorEconomicMovements: #LPG rate cut by Rs 113, jet fuel prices by 4.1%. Price of non-subsidised cooking gas (LPG) was today cut by a steep Rs 113 per cylinder and that of jet fuel (ATF) by 4.1% as international oil rates slumped to multi-year lows. A 14.2-kg cylinder of non-subsidised LPG will now cost Rs 752, down from Rs 865 previously, in Delhi, oil companies announced today. This is the fifth straight reduction in rates of non-subsidised or market priced LPG, which the customers buy after exhausting their quota of 12 cylinders at subsidised rates, since August. In five monthly reduction, non-domestic LPG rates have been slashed by Rs 170.5 per cylinder, bringing the price at three-year lows. On similar lines, the price of aviation turbine fuel (ATF), or jet fuel, at Delhi was cut by Rs 2,594.93 per kilolitre, or 4.1%, to Rs 59,943 per kl. This is the fifth straight monthly reduction in rates. This reduction follows a steep 7.3% or Rs 4,987.7 per kl, cut in prices on November 1. Manufacturing PMI at 21-month high in November Indian factory activity rose to a 21-month high in November, but that did not lead to additional hiring, showed the widely tracked HSBC purchasing managers index (PMI) data released today. The data also showed an uptick in price pressures, which may cause the Reserve Bank of India to hold rates in its monetary review on Tuesday despite persistent demand from India Inc to ease the monetary stance. PMI rose to 53.3 points in November against 51.6 points in October. The data comes soon after GDP numbers, which showed that Indias economy grew 5.3% in the quarter ended September against 5.7% in the previous quarter, primarily as manufacturing growth slowed down to 0.1% in Q2 against 3.5% in the first quarter. PMI for manufacturing, based on a survey of some 500 private firms, means expansion if the reading is above 50 points and contraction if it is below 50. The latest improvement in business conditions was solid overall and the 13th in consecutive months, said Markit Economics, which compiles the data. Like and Share to keep getting updates. Share Knowledge. Spread Awareness.
Posted on: Mon, 01 Dec 2014 12:30:00 +0000
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