Nifty shuts below 8,600 mark

Closing Bell:


Finally, the BSE Sensex ended with a loss of 465 points at 27,827. The BSE Sensex opened at 28,423 touched an intra-day high of 28,476 and low of 27,719.

The NSE Nifty closed with a loss of 154 points at 8,591. The NSE Nifty opened at 8,793 hitting a high of 8,801 and low of 8,558.

Live Market:

The Indian equity market tanked over 1% as the Indian Army confirmed that it undertook surgical strikes across Line of Control in Jammu and Kashmir at terror launchpads sending across a very strong message to Pakistan on Wednesday night.

The rupee and 10-year government bond yields are at 1-week low.

The Nifty broke 8,600 level, while the Sensex lost 555 points to trade below 28,000.

DGMO has said there are no plans as of now for further operations.

At 2:29 PM, the S&P BSE Sensex is trading at 27,765 down 528 points, while NSE Nifty is trading at 8,573 down 172 points.

The BSE Mid-cap Index is trading down 3.76% at 12,893 whereas BSE Small-cap Index is trading down 4.43% at 12,461.

TCS, AIA Engineering, Balkrishna Industries and GSPL are among the gainers, whereas ICICI Bank, Adani Ports, Axis Bank and SBI are losing sheen on BSE.

All the NSE sectoral indices were trading in the negative territory.

The INDIA VIX is up 35.71% at 18.7925. Out of 1,876 stocks traded on the NSE, 1,524 declined, 119 advanced and 233 remained unchanged today.

A total of 93 stocks registered a fresh 52-week high in trades today, while 55 stocks touched a new 52-week low on the NSE.

India is well on its way to emerge as a major player in global economy, Finance Minister Arun Jaitley said reacting to the latest WEF’s global ranking. India rose 16 ranks, faster than any other, to climb to 39 in FY17 among 138 countries.

OPEC members agreed to cut output to boost prices despite differences between Iran and Saudi Arabia. Crude oil prices rallied taking with it global equity markets. 

Multi Commodity Exchange of India Ltd is currently trading at Rs. 1353, up by Rs. 106.35 or 8.53% from its previous closing of Rs. 1246.65 on the BSE.

ICICI Prudential Life Insurance Company shares got listed at Rs.330 on NSE.

Market participants are anxiously awaiting the Monetary Policy Review on October 4, the first to be held under the newly appointed RBI Governor Urjit Patel and the first to be decided by a six-member panel.

Asian markets are trading mixed. In Japan, the Nikkei 225 jumped 1.4%. Hong Kong's Hang Seng and Shanghai Composite are trading in green.

The rupee opened marginally higher one paise at 66.45/$ against US Dollar Thursday as against the previous close of 66.45/$.

Wall Street ended higher on Wednesday after the Organization of the Petroleum Exporting Countries (OPEC) agreed to cut crude oil production. As crude oil prices rose. The Dow Jones industrial average rose 0.61% to end at 18,339.24 points and the S&P 500 gained 0.53% to 2,171.37. The Nasdaq Composite added 0.24% to 5,318.55. Brent crude was up 0.4% at USD 48.87 a barrel, adding to overnight gains of 5.9%.

On the economy front, EPFO will invest 8-10% of its annual incremental corpus amounting to nearly Rs.14,000 crore in the equity market this financial year, increasing its investments in stocks, according to the media report.

Sebi allowed commodity derivative exchanges to launch options contracts for trading with the aim of increasing liquidity and attracting more investors to the commodities market.

Nifty hovers around 8750 mark

The Indian equity market opened higher on firm global cues. The domestic market led by energy producers and automakers amid a rally in crude oil prices.

At 10:11 AM, the S&P BSE Sensex is trading at 28,439 up 99 points, while NSE Nifty is trading at 8,779 up 33 points.

The BSE Mid-cap Index is trading up 0.30% at 13,491 whereas BSE Small-cap Index is trading up 0.84% at 13,149.

India is well on its way to emerge as a major player in global economy, Finance Minister Arun Jaitley said reacting to the latest WEF’s global ranking. India rose 16 ranks, faster than any other, to climb to 39 in FY17 among 138 countries.

OPEC members agreed to cut output to boost prices despite differences between Iran and Saudi Arabia. Crude oil prices rallied taking with it global equity markets. 

ONGC, Bajaj Auto, RIL, GAIL, Hero MotoCorp, Coal India, SBI and Adani Ports are among the gainers, whereas Bharti Airtel, Wipro and NTPC are losing sheen on BSE.

Some buying activity is seen in energy, oil and gas, auto, industrial, finance, banking and metal sectors, while telecom sector is showing weakness on BSE.

The INDIA VIX is down 0.34% at 13.8000. Out of 1,869 stocks traded on the NSE, 474 declined, 1,018 advanced and 474 remained unchanged today.

A total of 61 stocks registered a fresh 52-week high in trades today, while 11 stocks touched a new 52-week low on the NSE.

Multi Commodity Exchange of India Ltd is currently trading at Rs. 1353, up by Rs. 106.35 or 8.53% from its previous closing of Rs. 1246.65 on the BSE.

ICICI Prudential Life Insurance Company shares got listed at Rs.330 on NSE.

Market participants are anxiously awaiting the Monetary Policy Review on October 4, the first to be held under the newly appointed RBI Governor Urjit Patel and the first to be decided by a six-member panel.

Asian markets are trading mixed. In Japan, the Nikkei 225 jumped 1.4%. Hong Kong's Hang Seng and Shanghai Composite are trading in green.

The rupee opened marginally higher one paise at 66.45/$ against US Dollar Thursday as against the previous close of 66.45/$.

Wall Street ended higher on Wednesday after the Organization of the Petroleum Exporting Countries (OPEC) agreed to cut crude oil production. As crude oil prices rose. The Dow Jones industrial average rose 0.61% to end at 18,339.24 points and the S&P 500 gained 0.53% to 2,171.37. The Nasdaq Composite added 0.24% to 5,318.55. Brent crude was up 0.4% at USD 48.87 a barrel, adding to overnight gains of 5.9%.

On the economy front, EPFO will invest 8-10% of its annual incremental corpus amounting to nearly Rs.14,000 crore in the equity market this financial year, increasing its investments in stocks, according to the media report.

Sebi allowed commodity derivative exchanges to launch options contracts for trading with the aim of increasing liquidity and attracting more investors to the commodities market.

Nifty, Midcap remain higher; ICICI Prudential lists at Rs 329

Equity benchmarks as well as broader markets remained higher on positive global cues and ahead of expiry of September futures & options contracts. 

The 30-share BSE Sensex was up 121.69 points at 28414.50 and the 50-share NSE Nifty gained 37.15 points at 8782.30. The market breadth remained strong as about 1369 shares advanced against 503 declining shares on the BSE. 

Reliance Industries and ONGC remained strong, rising 1-2 percent whereas ICICI Bank fell nearly a percent after subdued listing of insurance subsidiary. 

ITC, HUL, Axis Bank, Bharti Airtel, Wipro and Dr Reddy's Labs were down 0.3-0.8 percent.

 ICICI Prudential Life Insurance Company saw subdued listing today. The stock has opened at Rs 329 apiece, a 1.5 percent discount to issue price of Rs 334.

Sensex ends 69 pts higher ahead of F&O expiry

After having corrected in the past three consecutive trading sessions, the Indian stock market closed on a higher note on Wednesday ahead of expiry of September futures & options contracts on the NSE.

The stock market oscillated between gains and losses in morning trade while it was only in the second half of the session that the market gained decisive upward momentum. Positive opening of European markets and a firm rupee partially supported the upmove in domestic equities.

Telecom, metal, realty, auto, industrial, basic materials, banking and consumer durables stocks led from the front, while IT and energy stocks were among the major losers.

Among the 50 stocks of the Nifty, Eicher Motors, Hindalco, Idea Cellular, Tata Steel, Zee, Bank of Baroda and Bharti Airtel were among the gainers, whereas Reliance Industries, Tech Mahindra, Coal India, HUL, Sun Pharmaceuticals and TCS were among the losers today.

Finally, the BSE Sensex ended with a gain of 69 points at 28,293. The BSE Sensex opened at 28,199 touched an intra-day high of 28,379 and low of 28,193.

The NSE Nifty closed with a gain of 39 points at 8,745. The NSE Nifty opened at 8,711 hitting a high of 8,767 and low of 8,703.

Market participants are anxiously awaiting the Monetary Policy Review on October 4, the first to be held under the newly appointed RBI Governor Urjit Patel and the first to be decided by a six-member panel.

The India VIX (Volatility) index was down 2.82% at 13.8475. Out of 1,847 stocks traded on the NSE, 575 declined and 1,033 advanced today. In the broader market, the BSE Smallcap index gained over 1% while the BSE Midcap index was up 0.91%.

The rupee was trading up by 2 paise at 66.46 per US dollar.

On the global front, Asian stocks closed on a mixed note. Hong Kong’s Hang Seng advanced 0.20%, China’s Shanghai Composite ended marginally lower, while Japan’s Nikkei slipped 1.3%.

European stocks rose with investor sentiment buoyed by a rally in the banking sector. The FTSE 100 is up 0.63% while the CAC 40 and DAX have gained 0.8% each.

Mangalore Chemicals & Fertilizers jumped 6.5% to Rs.47.50 on the BSE. The company said in a notice to BSE that its shareholders have rejected the proposal of transaction with Zuari Agro Chemicals Ltd.

Mphasis fell 3.3% to Rs.521. The company has announced a dividend of Rs.20 a share.

Nandan Denim climbed 12.6% on its plans to issue 50 lakh convertible warrants on preferential basis to foreign investors at Rs.200 each including premium of Rs.190.

Motherson Sumi Systems gained 1% after the Reserve Bank of India allowed foreign investors to hike their stake in the company to up to 30% from 24% earlier.

Dilip Buildcon gained 2.6%. The National Highways Authority of India (NHAI) has awarded four laning of 127 km of national highway stretch between Lucknow and Sultanpur to Dilip Buildcon. The project would be constructed at a cost of Rs.2,845 cr.

Mahindra and Mahindra inched up 0.60% after the company having announced the launch of the Intelli-Hybrid technology variant of its popular SUV Scorpio for the Delhi and NCR market at a starting price of Rs.9.35 lakh (ex-showroom).


Coal India slipped 1% to Rs.329. Its buyback offer will open next week on October 3, 2016 and would remain open till October 18. The company plans to buy back 1.7% (10.89 cr) fully paid up equity shares at Rs.335 per share totaling Rs.3,650 cr.

Karur Vysya Bank gained 1.4% to Rs.476. The bank seeks members' approval for sub-division of shares in the ratio of 1:5.

Ahluwalia Contracts (India) advanced 1% after the company having received new order aggregating Rs.151.39 cr from Bharat Electronics .

Live Stock Market Updates - Sensex ends 69 pts higher

Closing Bell:

Finally, the BSE Sensex ended with a gain of 69 points at 28,293. The BSE Sensex opened at 28,199 touched an intra-day high of 28,379 and low of 28,193.

The NSE Nifty closed with a gain of 39 points at 8,745. The NSE Nifty opened at 8,711 hitting a high of 8,767 and low of 8,703.

Live Market:

The domestic market supported rallied in afternoon deal led by banks, auto and infra stocks. European stocks extended gains after Deutsche Bank AG agreed to sell its U.K. insurance unit Abbey Assurance to Phoenix Group Holdings for $1.2 billion, as per media reports.
  
The domestic market opened flat on mixed global cues and recovery in US markets and weakness in Asia.

At 2:40 PM, the S&P BSE Sensex is trading at 28,372 up 148 points, while NSE Nifty is trading at 8,764 up 58 points.

The BSE Mid-cap Index is trading up 0.99% at 13,408 whereas BSE Small-cap Index is trading up 1.09% at 13,045.

Tata Steel, SBI, Adani Ports, Bharti Airtel and Tata Motors are among the gainers, whereas Reliance Industries, HUL, Coal India, Sun Pharma and Cipla are losing sheen on BSE.

Some buying activity is seen in telecom, metal, realty, capital goods, auto, consumer durables and banking sectors, while energy sector is showing weakness on BSE.

The INDIA VIX is down 4% at 14.6800. Out of 1,874 stocks traded on the NSE, 497 declined, 1,092 advanced and 285 remained unchanged today.

A total of 58 stocks registered a fresh 52-week high in trades today, while 24 stocks touched a new 52-week low on the NSE.

Mphasis Ltd fell 1.7% to Rs.530. The company has informed BSE that the Board of Directors of the Company at its meeting held on September 27, 2016, approved the recommendation of a dividend of Rs.20 per Equity Share of Rs. 10/- each for the financial year ended March 31, 2016. The dividend, if declared at the ensuing Annual General Meeting of the Company, will be paid within 30 days of the Annual General Meeting.

Motherson Sumi gained 1% after Reserve Bank has allowed foreign investors to hike their stake in Motherson Sumi Systems to up to 30% from 24% earlier.

Max India gained 1.2%. Max India Ltd said it has received shareholders' approval for amalgamation of Max Life Insurance Company with Max Financial Services as also the demerger of insurance business for transfer to HDFC Standard Life Insurance Company.

Dilip Buildcon gained 1.3%. The National Highways Authority of India (NHAI) has awarded four laning of 127 km of national highway stretch between Lucknow and Sultanpur to Dilip Buildcon. The project would be constructed at the cost of Rs 2,845 crore.

Mahindra and Mahindra inched up 0.44% after the company announced its SUV Scorpio with Intelli-Hybrid technology for the Delhi and NCR market, at a starting price of Rs.9.35 lakh (ex-showroom).

Coal India is trading marginally higher. Coal India's buyback offer will open next week on October 3 and would remain open till October 18. The company plans to buy back 1.7% (10.89 crore) fully paid up equity shares at Rs 335 per share totalling Rs.3,650 crore.

Karur Vysya Bank Ltd gained 1.2% to Rs.475.60. Karur Vysya Bank seeks members' approval for sub divison of shares in 1:5 ratio.

Ahluwalia Contracts (India) advanced 1.4% after the company has received new order aggregating Rs.151.39 crore Work awarded from Bharat Electronics Limited.

Jindal Stainless zoomed 3.4% after the company has received approval from Orissa Industrial and Infrastructure Development Corporation ('IDCO) vide its letter dated 24 September 2016 conveying its no objection for effecting the transfer or right to use of the land on which the Hot Strip Mill and the Coke Plant of the Company are located, to Jindal United Steel and Jindal Coke, respectively.

Balaji Telefilms jumped 10% after the Board of Directors of the Company at its meeting held on 27 September 2016 has considered and approved a composite scheme of arrangement between the Company and its wholly owned subsidiaries viz. Balaji Motion Pictures and Bolt Media and their respective shareholders and creditors.

KNR Constructions slipped 0.47% to Rs.766. The company has completed the rehabilitation and upgradation of existing National Highway 565 from 425km to 509km between Penchalakonda and Yerpedu section in Andhra Pradesh under National Highways Development Programme IV, as per media reports.

Lanco Infratech Limited is trading in red on the BSE. Lanco Infratech is looking to sell 1200mw coal-fired Anpara Power plant in Uttar Pradesh to bring in additional equity required to complete the under-construction power plants totalling 4000mw, as per media reports.

Manpasand Beverages gained 2%. Manpasand Beverages has informed BSE that a meeting of QIP Committee of the Company is scheduled to be held on September 30, 2016, inter alia, to consider and determine the price for Equity Shares of the Company to be issued in the QIP, in accordance with Chapter VIII and other applicable provisions of the SEBI Regulations and Section 42 of the Companies Act, 2013 read with Rule 14 of the Companies (Prospectus and Allotment of Securities) Rules, 2014.

Delta Corp Ltd is currently trading at Rs. 171.9, up by Rs. 8.1 or 4.95% from its previous closing of Rs. 163.8 on the BSE. Around 20.1 lakh shares were traded in a multiple block at Rs. 168.65 on the BSE & NSE.

Live Stock Market Updates - Nifty reclaims 8,750 mark

The domestic market supported rallied in afternoon deal led by banks, auto and infra stocks.

European stocks extended gains after Deutsche Bank AG agreed to sell its U.K. insurance unit Abbey Assurance to Phoenix Group Holdings for $1.2 billion, as per media reports.
  
The domestic market opened flat on mixed global cues and recovery in US markets and weakness in Asia.

At 2:40 PM, the S&P BSE Sensex is trading at 28,372 up 148 points, while NSE Nifty is trading at 8,764 up 58 points.

The BSE Mid-cap Index is trading up 0.99% at 13,408 whereas BSE Small-cap Index is trading up 1.09% at 13,045.

Tata Steel, SBI, Adani Ports, Bharti Airtel and Tata Motors are among the gainers, whereas Reliance Industries, HUL, Coal India, Sun Pharma and Cipla are losing sheen on BSE.

Some buying activity is seen in telecom, metal, realty, capital goods, auto, consumer durables and banking sectors, while energy sector is showing weakness on BSE.

The INDIA VIX is down 4% at 14.6800. Out of 1,874 stocks traded on the NSE, 497 declined, 1,092 advanced and 285 remained unchanged today.

A total of 58 stocks registered a fresh 52-week high in trades today, while 24 stocks touched a new 52-week low on the NSE.

Mphasis Ltd fell 1.7% to Rs.530. The company has informed BSE that the Board of Directors of the Company at its meeting held on September 27, 2016, approved the recommendation of a dividend of Rs.20 per Equity Share of Rs. 10/- each for the financial year ended March 31, 2016. The dividend, if declared at the ensuing Annual General Meeting of the Company, will be paid within 30 days of the Annual General Meeting.

Motherson Sumi gained 1% after Reserve Bank has allowed foreign investors to hike their stake in Motherson Sumi Systems to up to 30% from 24% earlier.

Max India gained 1.2%. Max India Ltd said it has received shareholders' approval for amalgamation of Max Life Insurance Company with Max Financial Services as also the demerger of insurance business for transfer to HDFC Standard Life Insurance Company.

Dilip Buildcon gained 1.3%. The National Highways Authority of India (NHAI) has awarded four laning of 127 km of national highway stretch between Lucknow and Sultanpur to Dilip Buildcon. The project would be constructed at the cost of Rs 2,845 crore.

Mahindra and Mahindra inched up 0.44% after the company announced its SUV Scorpio with Intelli-Hybrid technology for the Delhi and NCR market, at a starting price of Rs.9.35 lakh (ex-showroom).

Coal India is trading marginally higher. Coal India's buyback offer will open next week on October 3 and would remain open till October 18. The company plans to buy back 1.7% (10.89 crore) fully paid up equity shares at Rs 335 per share totalling Rs.3,650 crore.

Karur Vysya Bank Ltd gained 1.2% to Rs.475.60. Karur Vysya Bank seeks members' approval for sub divison of shares in 1:5 ratio.

Ahluwalia Contracts (India) advanced 1.4% after the company has received new order aggregating Rs.151.39 crore Work awarded from Bharat Electronics Limited.

Jindal Stainless zoomed 3.4% after the company has received approval from Orissa Industrial and Infrastructure Development Corporation ('IDCO) vide its letter dated 24 September 2016 conveying its no objection for effecting the transfer or right to use of the land on which the Hot Strip Mill and the Coke Plant of the Company are located, to Jindal United Steel and Jindal Coke, respectively.

Balaji Telefilms jumped 10% after the Board of Directors of the Company at its meeting held on 27 September 2016 has considered and approved a composite scheme of arrangement between the Company and its wholly owned subsidiaries viz. Balaji Motion Pictures and Bolt Media and their respective shareholders and creditors.

KNR Constructions slipped 0.47% to Rs.766. The company has completed the rehabilitation and upgradation of existing National Highway 565 from 425km to 509km between Penchalakonda and Yerpedu section in Andhra Pradesh under National Highways Development Programme IV, as per media reports.

Lanco Infratech Limited is trading in red on the BSE. Lanco Infratech is looking to sell 1200mw coal-fired Anpara Power plant in Uttar Pradesh to bring in additional equity required to complete the under-construction power plants totalling 4000mw, as per media reports.

Manpasand Beverages gained 2%. Manpasand Beverages has informed BSE that a meeting of QIP Committee of the Company is scheduled to be held on September 30, 2016, inter alia, to consider and determine the price for Equity Shares of the Company to be issued in the QIP, in accordance with Chapter VIII and other applicable provisions of the SEBI Regulations and Section 42 of the Companies Act, 2013 read with Rule 14 of the Companies (Prospectus and Allotment of Securities) Rules, 2014.

Delta Corp Ltd is currently trading at Rs. 171.9, up by Rs. 8.1 or 4.95% from its previous closing of Rs. 163.8 on the BSE. Around 20.1 lakh shares were traded in a multiple block at Rs. 168.65 on the BSE & NSE.

The rupee opened higher four paise at 66.46/$ against US Dollar Wednesday as against the previous close of 66.48/$.

Asian markets are trading in negative zone. Shanghai Composite and Nikkei 225 are in red. Wall Street closed higher on Tuesday. The Dow Jones industrial average rose 0.74% to end at 18,228.3 points and the S&P 500 gained 0.64% to 2,159.93. The Nasdaq Composite added 0.92% to 5,305.71.

Oil fell about 3% on Tuesday after Saudi Arabia and Iran dashed market expectations that the two major OPEC producers would find a compromise this week at a meeting in Algiers to help ease a global glut of crude, as per media report.

On the global front, the board of the World Bank has unanimously agreed to name Jim Yong Kim to a second term as president, the global lender announced today.

Live Stock Market Updates - Nifty holds 8,700 mark

At 10:53 AM, the S&P BSE Sensex is trading at 28,218 down mere six points, while NSE Nifty is trading at 8,714 up mere seven points.

The BSE Mid-cap Index is trading up 0.52% at 13,344 whereas BSE Small-cap Index is trading up 0.53% at 12,793.

Tata Steel, GAIL, Axis Bank, Bajaj Auto, L&T, Tata Motors and Power Grid are among the gainers, whereas Adani Ports, TCS, RIL, Wipro, Bharti Airtel and Infosys are losing sheen on BSE.

Some buying activity is seen in metal, capital goods, pharma, FMCG, consumer durables and auto sectors, while IT, energy and teck sectors are showing weakness on BSE.

The INDIA VIX is down 0.12% at 14.2325. Out of 1,856 stocks traded on the NSE, 391 declined, 1,030 advanced and 435 remained unchanged today.

A total of 29 stocks registered a fresh 52-week high in trades today, while 13 stocks touched a new 52-week low on the NSE.

The rupee opened higher four paise at 66.46/$ against US Dollar Wednesday as against the previous close of 66.48/$.

Asian markets are trading in negative zone. Shanghai Composite and Nikkei 225 are in red. Wall Street closed higher on Tuesday. The Dow Jones industrial average rose 0.74% to end at 18,228.3 points and the S&P 500 gained 0.64% to 2,159.93. The Nasdaq Composite added 0.92% to 5,305.71.

Oil fell about 3% on Tuesday after Saudi Arabia and Iran dashed market expectations that the two major OPEC producers would find a compromise this week at a meeting in Algiers to help ease a global glut of crude, as per media report.

On the global front, the board of the World Bank has unanimously agreed to name Jim Yong Kim to a second term as president, the global lender announced today.

On the political front, Labour and Employment Minister Dattatreya to hold press conference on BRICS Labour and Employment Ministerial meeting in New Delhi.

Live Stock Market Updates - Sensex, Nifty trade flat; metal, capital goods gain

At 9:34 AM, the S&P BSE Sensex is trading at 28,249 up 25 points, while NSE Nifty is trading at 8,714 up mere seven points.

The BSE Mid-cap Index is trading up 0.42% at 13,332 whereas BSE Small-cap Index is trading up 0.51% at 12,971.

Tata Steel, GAIL, Axis Bank, Bajaj Auto, L&T, Tata Motors and Power Grid are among the gainers, whereas Adani Ports, TCS, RIL, Wipro, Bharti Airtel and Infosys are losing sheen on BSE.

Some buying activity is seen in metal, capital goods, pharma, FMCG, consumer durables and auto sectors, while IT, energy and teck sectors are showing weakness on BSE.

The INDIA VIX is down 0.29% at 14.2075. Out of 1,856 stocks traded on the NSE, 391 declined, 1,030 advanced and 435 remained unchanged today.

A total of 29 stocks registered a fresh 52-week high in trades today, while 13 stocks touched a new 52-week low on the NSE.

The rupee opened higher four paise at 66.46/$ against US Dollar Wednesday as against the previous close of 66.48/$.

Asian markets are trading in negative zone. Shanghai Composite and Nikkei 225 are in red. Wall Street closed higher on Tuesday. The Dow Jones industrial average rose 0.74% to end at 18,228.3 points and the S&P 500 gained 0.64% to 2,159.93. The Nasdaq Composite added 0.92% to 5,305.71.

Oil fell about 3% on Tuesday after Saudi Arabia and Iran dashed market expectations that the two major OPEC producers would find a compromise this week at a meeting in Algiers to help ease a global glut of crude, as per media report.

On the global front, the board of the World Bank has unanimously agreed to name Jim Yong Kim to a second term as president, the global lender announced today.

On the political front, Labour and Employment Minister Dattatreya to hold press conference on BRICS Labour and Employment Ministerial meeting in New Delhi.