Saturday, November 30
India, an emerging market for cocoa consumption, should join the International Cocoa Organization (ICCO) to participate in policy dialogue, according to ICCO Executive Director Michel Arrion. India currently produces only 27,000 tonnes of cocoa annually and imports about 100,000 tonnes of cocoa-based products.
Tata Steel plans to complete the decarbonisation process at its UK plant within the next three years, according to CEO T V Narendran. The company intends to shift from the blast furnace route to a low-emission electric arc furnace process as part of its decarbonisation plan.
The Multi Commodity Exchange of India (MCX) has been asked by the country's markets regulator, the Securities and Exchange Board of India (Sebi), to postpone the launch of its new commodity derivatives platform. This request has caused shares of MCX to drop by 8.7% in early trade.
Driven primarily by higher crude prices and rising global interest rates, both sensex and Nifty reversed early morning gains on Thursday and witnessed a sharp fall. The information technology and consumer sectors mainly led the market decline.The BSE benchmark sensex plunged 610 points to close at 65,508 while Nifty fell 193 points to end at 19,524.
Vietjet announced a direct route between Ho Chi Minh City, Vietnam, and Tiruchirappalli, India, with three weekly return flights starting on November 2. The route is expected to boost tourism, economic and trade cooperation, and bilateral relations between the two countries.
The 30-share BSE Sensex rose by 173.22 points or 0.26 per cent to settle at 66,118.69. The Nifty gained 51.75 points or 0.26 per cent to end at 19,716.45. Among the Sensex firms, Larsen & Toubro, ITC, Sun Pharma, Maruti, Reliance Industries, Axis Bank, IndusInd Bank and Hindustan Unilever were among the gainers. Titan, State Bank of India, ICICI Bank, HDFC Bank, Tata Steel and Nestle were the major laggards.
India plans to sell 50-year bonds for the first time to meet the growing demand from insurance and pension funds. This move is aimed at extending the nation's yield curve and reducing the government's reliance on bank purchases to fund its record borrowings. The sale reflects the increasing influence of life insurers and pension funds in India's sovereign debt market.
