Media reports suggested that the company, along with Reliance Jio and Bharti Airtel, may not bid for 5G spectrum

Shares of Vodafone Idea tumbled 6 percent intraday on August 28. The scrip has been trading in the red from the past two sessions.

Shares of the telecom major have been performing poorly since it came into existence after the merger of Vodafone India and Idea Cellular in 2018. Year-to-date, the stock had lost about 77 percent of its market value on the BSE.

As per the quarterly revenue data from the Telecom Regulatory Authority of India (Trai) compiled by SBICAP Securities, the company posted a sequential decline in revenues in June quarter, while competitors Bharti Airtel and Reliance Jio Infocomm reported notable expansions, daily Mint reported.

Based on adjusted gross revenues, including receipts from long-distance services, Vodafone Idea’s market share dropped from 32.1 percent in the quarter ended March 2019 to 27.8 percent in the last quarter. Two years ago, the combined market share of Vodafone India and Idea Cellular stood at 42.5 percent, the report added.

As per a report by brokerage Kotak Institutional Equities, Vodafone Idea’s debt and deferred spectrum repayment schedules, basis the company’s FY2019 annual report, suggests a need for another round of equity infusion as early as 2Q/3QFY21E unless there is a quick and steep recovery in ARPU or fibre sale closes and fetches upwards of Rs 10,000 crore or some of the debt due for repayment is refinanced or capex credit increases by a sum materially higher than the Rs 6,000 crore.

Meanwhile, media reports suggested that the company, along with Reliance Jio and Bharti Airtel, may not bid for 5G spectrum, citing high cost and limited availability of the airwaves.

shares of Vodafone Idea traded 3.40 percent down at Rs 5.12 on BSE.

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Indian shares were largely unchanged in volatile trading on Wednesday, in line with broader Asia, as worries about a global recession kept investors away from making fresh bets

The broader NSE Nifty was up 0.01% at 11,108.15 as of 0403 GMT, while the benchmark BSE Sensex was 0.01% lower at 37,637.63.

Regional markets across Asia eked out minor gains, as higher Wall Street futures provided some relief after an overnight U.S. selloff, though deeper worries about the global economy and trade kept a lid on sentiment.

Meanwhile, domestic investors awaited clarity on what steps the Indian government would take to revive an industry-wide slowdown.

"Markets have adequately discounted the positive triggers in the last three sessions and now await fresh cues," said Deepak Jasani, senior vice-president at HDFC Securities.

"Currently, we have a negative trigger from the U.S, there is no major panic, but domestic markets will wait for fresh major development rather than selling off sharply."

Indian markets have gained on the back of the government's move to scrap a recently announced tax surcharge on foreign and domestic equity investors, speed up capital infusion to state-run banks and on expectations of additional stimulus supported by a huge dividend from the Reserve Bank of India.

Shares of major automaker Tata Motors Ltd gained as much as 3.03%. China on Tuesday said it will ease restrictions on car purchases to help boost consumption.

IDBI Bank Ltd's shares plunged as much as 9.3%. Rating firm S&P Global on Tuesday placed the bank's rating on 'credit watch negative' for breaching its regulatory capital requirement.

The Nifty metals index fell 1.55%, with shares of Vedanta Ltd declining as much as 1.45%. On Tuesday, Zambia's High Court suspended hearings on the winding up of the miner's local business until the Court of Appeal rules on the lower court's refusal to let the matter go to arbitration.

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Indian equity markets opened higher for the second day on Tuesday after measures announced by the government last week to boost economic growth

The benchmark Sensex opened at 37,658.48 from its Monday's close of 37,494.12.

At 9.29 a.m., it traded 142.22 points higher at 37,636.34 while the Nifty was 56.70 points up at 11,114.55. 

The Nifty PSU Bank index gained nearly 3 per cent in early trade.

Tata Motors and State Bank of Indian were the top gainers among the Nifty50 stocks.

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Selling life insurance has never been easy, but getting investors to buy their stocks is becoming all too easy for life insurers. A booming business and a growing market share have led to big gains for the three listed life insurance companies in India

Shares of HDFC Life Insurance Co. Ltd and SBI Life Insurance Co. Ltd has surged 33.59% and 37.37%, respectively, so far this year. Even ICICI Prudential Life Insurance Co. Ltd hasn’t fared badly, with returns of 19.14%, although its growth in the past two quarters has been wanting. In comparison, the Nifty Financial Services index has risen about 4.27% in 2019.

There are several factors that seem to have worked for life insurance companies. But, Nomura Financial Advisory and Securities (India) Pvt. Ltd highlighted the main reason.

“Private insurers (excluding ICICI Prudential Life) continue to deliver robust growth in spite of volatile markets; this, coupled with increasing protection share in the business mix, justifies the re-rating in the last four months, in our view," it said in a note to clients.

In the first four months of FY20, private sector insurers saw 23% new business growth in retail, in terms of annualized premium equivalent, even as the overall industry growth was 15%, primarily due to Life Insurance Corporation of India’s (LIC’s) 5.5% growth.

This growth was led by non-participatory and annuity products.

Aggressive marketing of term plans in the past two years has helped HDFC Life and even its peer's corner market share from the country’s largest life insurer, LIC.

“Shrinking profitability of the linked business has made it a mere revenue driver, edging players to move towards non-linked products (protection, annuities and return-guarantee) for profitability," said Jefferies India Pvt. Ltd in a note.

The growth in retail insurance sales of non-participatory products has made the portfolio of life insurers more stable and increased margins.

Life insurance stocks are likely to continue to enjoy investor attention over the next few quarters, too, though analysts warned that the profitability metrics may have peaked for some firms.

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A South African high court judge on Friday refused Zambia's state mining company ZCCM leave to appeal a previous ruling halting the sale of Vedanta Resources' majority-owned Konkola Copper Mines (KCM) pending arbitration

Vedanta has been locked in a dispute with the Zambian government since May when Lusaka appointed a liquidator to run KCM, which is 20% owned by ZCCM and the rest by Vedanta.

Zambia had accused KCM of breaching the terms of its licence, which Mumbai-listed Vedanta denies.

In July, a South African judge said wind-up proceedings must be immediately withdrawn until a final decision is made following arbitration. Zambia appealed and said it was proceeding with the liquidation.

Judge Leicester Adams said his main reasons for refusing leave to appeal were that ZCCM had raised nothing new and that leave would only be granted when a judge believed it could succeed.

The South African high court is recognised as a court in the context of the International Arbitration Act.

"There are no reasonable prospects of another court coming to different conclusions, be they on aspects of facts or law, to the ones reached by me. The appeal does not, in my judgement, have a reasonable prospect of success," the judge said in his ruling.

Vedanta said it remained committed to engaging with the Zambian government to find an amicable solution.

No-one from the Zambian government could immediately be reached for comment.

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Reliance Jio has added 44 million active subscribers over the past six months, while Bharti Airtel and Vodafone Idea have lost 20 million and 68 million clients, respectively, most likely due to the introduction of minimum recharge plans, said a report from broking firm CLSA.

While Jio leads with 52 per cent share among 3G/4G users, Bharti's share has been stable at 23 per cent. But Bharti's incremental market share in 3G/4G additions during January-June has been much higher at 38 per cent. 

The Insurance Regulatory and Development Authority (IRDA) of India had reported that in June, mobile subscriber base increased by 4 million to 1,165 million, yet the active subscriber base declined by 6 million to 984 million. 

According to the CLSA report, over the past year, Jio gained 10 ppt active subscriber market share to 28 per cent. While Vodafone Idea lost 8 ppt to 33 per cent, Bharti has lost a mere 2 ppt to 32 per cent.

However, the divergence between active and reported subscribers remains high for both Jio and Vodafone Idea at 16 per cent against 1 per cent for Bharti Airtel.

With bundled (voice+data) plan tariffs 35 per cent higher than the blended average revenue per user (ARPU) and twice of voice ARPU, the adoption of bundled plans will drive ARPU recovery. 

"With India mobile phone mart headed to a 2-3 player market and a recovery in sector revenues, driven by stability in tariffs and rising data adoption, we remain positive on Jio and Bharti Airtel has given strong market-share defence and inevitable turn in revenues," CLSA said.

However, Vodafone Idea's out-of-control gearing also remains a key concern, CLSA said.

The report says the 3G/4G penetration is at 50 per cent and Vodafone Idea is lagging on this. In June, the sector added 13 million 3G/4G clients, taking the subscriber base to 576 million. 3G/4G subscribers now form 49 per cent of the reported mobile subscriber base.

The report also dwells on the low mobile number portability (MNP) requests, yet a decline in active subscribers irony.

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Damani sold 40 lakh shares of Avenue at Rs 1,404.10 per share, as per bulk deals data available on the BSE on August 9

Avenue Supermarts, the operator of D-Mart retail chain August 9 said Founder Radhakishan Shivkishan Damani has completed the sale of 0.998 percent stake in the open market to adhere to minimum public shareholding norms.

The stock closed at Rs 1,452.85, up to Rs 22.55, or 1.58 percent on the BSE on Friday.

"Promoter, Radhakishan Shivkishan Damani, has completed the sale of 62.3 lakh equity shares of the company (constituting 0.998 percent of the paid-up equity share capital), on August 9, in compliance with the requirements of SEBI regulations in the process of achieving minimum public shareholding," the company said in its BSE filing.

As per the minimum public shareholding rule, every company has to have at least 25 percent public shareholding.

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Shares of Lemon Tree Hotels Ltd that operates primarily in the mid-priced segment, traded at a new 52-week low on Thursday on the National Stock Exchange. By the day’s end, the stock fell by 7% to 52.90, lower than its issue price of  56 at the time of the initial share sale in March 2018

Evidently, investors aren’t satisfied with the company’s June quarter results. Revenues increased by 11% over the same period last year to  141 crores. Addition of rooms helped fetch more revenues. Lemon Tree saw a 19% increase in the number of rooms to 5,828 during the June quarter. On the other hand, growth in average daily room rate remained subdued at 2.6% year-on-year.

In general, a combination of the consumption slowdown, the general election, closure of Jet Airways (India) Ltd and the liquidity crunch owing to the NBFC (non-banking financial company) crisis have weighed on Lemon Tree’s daily rate growth. Even as its occupancy rate rose from 76.8% in the June quarter last year to 77.5%, the measure is flattish on a sequential basis.

Despite the revenue growth, the company was not able to eke out a net profit for the quarter. Amit Agarwal, senior analyst at Nirmal Bang Equities Pvt. Ltd wrote in a report on 8 August that the June quarter results show a net loss of  1.7 crores adjusted for Indian Accounting Standard (Ind-AS) 116 related to leasing rent accounting. This is against a net profit of  2.3 crores for the year-ago quarter.

“The loss was primarily on account of rising employee expenses and other expenses, increasing our concerns about the company’s ability to rationalize costs," he noted. Lemon Tree’s employee costs and other expenses increased by 16% and 12%, respectively. Adjusting for Ind-AS, earnings before interest, tax, depreciation and amortization margin has declined year-on-year.

Analysts from Kotak Institutional Equities said in a report on 8 August: “Recent weakness in earnings performance, coupled with delays in project execution, as well as promoter pledge during the quarter, has weighed on the stock performance."

To that extent, the drop in the Lemon Tree stock price helps valuations seem reasonable. Addition of new rooms should support revenue growth. The company plans to take the total room count to 8,800 across 58 cities by 2021. Still, investors are likely to watch the pace of growth in the average daily rate closely before checking into the Lemon Tree stock.

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Domestic net interest margin contracted 10bps sequentially and 29bps YoY to 2.85 percent in the quarter ended June 2019

Indian Bank shares rallied 6.7 percent intraday on August 6 after lower provisions and other income lifted June quarter profitability 75 percent year-on-year, but slippages remain elevated on a sequential basis.

The stock has fallen nearly 50 percent in the last one year, but August 6 gain was in addition to the 3.5 percent upside seen in the previous session. It was quoting at Rs 199.75, up to Rs 9.85, or 5.19 percent, on the BSE at 1049 hours.

Profit in the June quarter increased sharply by 74.6 percent year-on-year to Rs 365.4 crore, but net interest income fell 1.2 percent YoY to Rs 1,785.4 crore due to higher cost of funds and elevated slippages in Q1.

Slippages for June quarter stood at Rs 1,077 crore, rising 7.2 percent sequentially, though declined more than 22 percent year-on-year. Annualised slippage ratio jumped to 2.34 percent in Q1 against 2.14 percent in the previous quarter.

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The best part about the Godrej Consumer Products Ltd (GCPL) stock is also the worst part. The stock has fallen a substantial 38% from its annual closing high on 31 August 2018, underperforming the Nifty 200 index

Clearly, investors seem to be baking in a good portion of the pessimism into the share price. At the current market price of  603.55, the stock trades at 37 times FY20’s estimated earnings, relatively cheaper than some of its other peers in the consumer staples industry.

In that sense, the good news is that the downside for the GCPL stock could well be limited hereon. But, the not-so-good part is that analysts see fewer triggers going ahead, for the trend in the share price to reverse.

What’s more, the company’s June quarter results, announced on Thursday, were hardly anything to be excited about. Net profit without one-off items came in at  291 crores, falling short of Bloomberg’s consensus estimate of  315 crores. While the stock closed higher on Thursday, it’s worth noting that it was trading at a new 52-week low of 590.20 on the previous day.

GCPL’s net comparable consolidated revenues rose by just 2% year-on-year. In the domestic business, volume growth came in at 5%, on a high base in the year-ago quarter. The sustainability of volume growth remains to be seen, said an analyst who did not want to be named. As such, volume growth was in line with Street expectations.

The domestic household insecticides segment continued to be a pain point, declining by 4% in the June quarter, over the same period last year. A higher base effect and extended summer season weighed on this segment’s performance. Plus, there is competition from the unorganized sector to deal with. GCPL’s natural neem incense sticks would have partially helped mitigate the impact of products from the unorganized market. The company has now scaled up its neem incense sticks to six states as of July 2019. Further, the general slowdown in the industry took a toll on the hair colour business, which remained soft with flat year-on-year growth.

Revenue growth in the international business was nothing to write home about, with constant currency sales growth at 9%, which is just about satisfactory.

As such, for sentiments to improve, a sustained recovery in consumption demand is necessary. In general, hopes of a better consumption environment are running low at the moment given the economic slowdown.

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Automobile major Maruti Suzuki India on Thursday reported a decline of 33.5 per cent in its total sales, including exports for July

According to Maruti Suzuki India, a total of 109,264 units were sold last month, compared to the off-take of 164,369 units recorded during the corresponding period of the previous financial year.

The company's domestic sales (domestic and OEMs) decreased by 35.1 per cent on a year-on-year basis to 100,006 units in July.

Although the total domestic passenger vehicle sales were lower by 36.7 per cent to 96,478 units on a YoY basis, the company's sales of light commercial vehicles in the country inched up 0.5 per cent to 1,732 units.

The automobile major's exports declined by 9.4 per cent in July to 9,258 units from 10,219 units which were shipped out during the corresponding month of the last fiscal.

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Gross slippages remained higher at Rs 4,798 crore at the end of June quarter 2019, against Rs 4,337 crore in the corresponding period last fiscal and Rs 3,012 crore in March quarter 2019

Private sector lender Axis Bank's June quarter (Q1) profit grew sharply by 95 percent year-on-year to Rs 1,370 crore, but provisioning and slippages remained higher. It was 

supported by NII, other income and operating profit.

The profitability was higher due to the low base in a year-ago period. The bank had 

reported a profit of Rs 701 crore in Q1FY19.

Net interest income increased 13 percent year-on-year to Rs 5,843.65 crore in the quarter 

ended June 2019, with 13 percent loan growth YoY.

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Crude oil trading range for the day is 3814-3970

Crude oil gained as supply risks are still a concern as tensions remained high around the Strait of Hormuz. Tuesday, July 30,2019

Russian oil production has recovered to an average of 11.099 mbpd in the period July 1- 25, up from 11.05 million bpd for July 1-21.

But growth outside the U.S. is slowing faster, due partly to the impact of the U.S.-China trade war.

U.S. energy companies last week reduced the number of oil rigs operating for a fourth week in a row, putting the rig count down for an eighth consecutive month.

SELL CRUDEOIL AUG 2019 @ 3900 SL 3940 TGT 3860-3820.MCX

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A consolidated mutual fund statement is easy to get that tells you how your investments have done.

End of the year is a good time to sit back and take stock of how your investments have done in the year gone by. It’s common knowledge that many investors have chosen to invest in mutual funds, particularly through the systematic investment plan route. But do you know how your funds have performed?

The problem is how to account for one statement that contains details of all your investments across different fund houses. That’s not all. Over a period, one ends up buying mutual funds through multiple intermediaries. That makes it difficult to keep a track of all investments. For investors opting for direct plans, one may face similar problem if he/she is transacting on the websites of the mutual fund houses.

In such a case, a consolidated statement from registrar and transfer agents (RTA) capturing all your investments across mutual fund houses can come to your help. RTA maintains the records of your investments in mutual funds. Karvy, CAMS , Franklin Templeton and Sundaram BNP Paribas Fund Services (SBPFS) are the RTAs that serve mutual fund investors.

CAMS, Karvy and SBPFS websites can be used to seek a consolidated account statement on the email. Irrespective of your fund house’s RTA, you can go to any RTA’s website and request for a CAS. Look out for the Mailback services section on their websites and enter some basic details. For CAMS, click here. For Karvy, click here and for SBPFS.

What do you get?

The consolidated statement is of two types. First is summary statement that captures balances and valuation as on date for each mutual fund scheme you have invested. This statement gives the name of the investor, folio number, scheme name and option, units held, NAV of the scheme and the valuation.

Second type of summary statement is the detailed one. In addition to the information offered by first type, it also offers transactions that took place in the period you choose. While asking for the statement online, you have to choose which type of statement you need.

In the request form provided on the website, you may choose to exclude zero balance folios, to avoid clutter. Zero balance folios do not attract any charges and they can be used for future investments.

You have to specify the email id registered with the mutual funds in the specified slot. Mentioning Permanent Account Number (PAN) is optional.

“Review helps you understand where you stand. It helps you assess how long you have walked on the way to your financial goals. If you find any divergences you can then take corrective actions,” says Gajendra Kothari, founder and managing director, Etica Wealth Management.

You have to choose an alpha-numeric password while submitting the request. This password set need to be remembered. It is the key to opening the PDF file of the statement that gets emailed to you on your registered email id. The time required depends on the request log pending with RTA at the time of your request. Generally you get the statement in less than an hour.

Using the statement you can figure out where your money is. A review helps in ascertaining if you are on the right track to achieve your financial goals.

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The bank and Kochhar have been maintaining there has been no regulatory violation on their part and that she was not aware of specific business dealings of her husband.

Capital markets regulator Sebi may soon summon ICICI Bank's on-leave CEO Chanda Kochhar and her husband with regard to a probe into alleged regulatory lapses with regard to his business dealings, officials said Sunday.

Besides, some other top officials of the bank, as also from Videocon, which allegedly benefitted due to its association with Kochhar's husband, are also likely to be called for their personal hearings regarding charges against them that may lead to the bank and its embattled chief being slapped with several crores of rupees in fines and other penal actions including ban from markets and directorships.

According to top officials, the multi-agency probe into ICICI Bank and business dealings of the Kochhar family will also be discussed by Sebi's board next week as it has been felt that coordinated efforts are required to be taken by Sebi, RBI and the government in this case due to its systemic importance.

The bank and Kochhar have been maintaining there has been no regulatory violation on their part and that she was not aware of specific business dealings of her husband.

The board of Sebi has got representatives from the finance and corporate affairs ministries as well as the Reserve Bank, besides its own whole time members and independent members.

Among others, this case is already being looked into by the RBI and the Corporate Affairs Ministry.

The Securities and Exchange Board of India (Sebi) had earlier issued show cause notices to ICICI Bank, Kochhar and others after its preliminary examination favoured initiating adjudication proceedings against them for alleged violation of listing disclosure norms regarding 'conflict of interest' in business dealings of her husband with Videocon Group.

Kochhar is believed to have maintained that she had no information about her husband's business dealings, while the bank has also given similar replies.

However, the regulator is of the view that Kochhar or the bank cannot feign ignorance in this matter as they have been regularly listing the name of her husband Deepak Kochhar as a 'related party' in the regulatory filings of the company, including in the latest annual filing submitted to the US markets regulator SEC, which is incidentally also probing the case, officials said.

The bank has maintained the same stance in its submissions to the SEC as well, officials added.

While the US regulator may eventually agree to settle the matter on payment of some settlement fees, officials said it is unlikely to be the case here in India even though the bank has indicated such a willingness to both the regulators.

The bank is being probed for a number of serious allegations including about disclosure lapses regarding business dealings of the CEO's husband and brother-in-law that are suspected to be directly or indirectly linked to the bank or its big borrowers, officials said.

The regulator may soon issue summons for personal hearings of Kochhars and others over the next few weeks, they said.

ICICI Bank may face a penalty of up to Rs 25 crore under the relevant Sebi regulations for such lapses, while the fine for Kochhar may go up to Rs 10 crore, besides other penal actions, a senior official said.

On its part, ICICI Bank's board has also constituted an "independent enquiry" and Kochhar has gone on leave till completion of this enquiry.

While Kochhar remains MD and CEO, the group's life insurance business head Sandeep Bakshi has been appointed as a whole time director and COO to handle day-to-day operations of the bank. Bakshi reports to Kochhar officially.

The bank has maintained that its board has full faith in Kochhar.

As per Sebi's preliminary probe, Chanda Kochhar's husband Deepak Kochhar has had many business dealings with Videocon Group over the last several years.

Besides, Deepak Kochhar and Videocon chief Venugopal Dhoot were co-founders and promoters of NuPower, besides other associations.

The cases under scanner include the significant loan exposure of the bank to Videocon way back in 2012 and the alleged involvement of Kochhar's family members in the restructuring of that loan. Kochhar and her family members are facing allegations of quid pro quo and conflict of interest with respect to a loan extended to certain entities.

Among other agencies, the CBI is also probing the case.

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suggests buying Balrampur Chini with a stop loss of Rs 76 and target of Rs 81, Bosch with a stop loss of Rs 20,900 and target of Rs 22,000 and Cadila Heathcare with a stop loss of Rs 412 and target of Rs 445.

The Nifty50 opened sharply higher but wiped out all gains in afternoon as the rupee breached 72 a dollar for the first time on Thursday. The index managed to rebound in the last couple of hours of trade and closed higher after three-day consecutive fall.

The Nifty hold on to its crucial support placed at 11,500 levels and made a small bullish candle which looked like a 'Hammer' like pattern on daily charts.

The Nifty50 started off day on a strong note at 11,514.15 but volatility caused due to further weakness in rupee pulled the index down to intraday low of 11,436.05. It managed to recoup those losses in later part of the session and hit day's high of 11,562.25 following recovery in currency from all-time low. The index finally closed 59.90 points higher at 11,536.90 but the rupee ended at record closing low of 71.9875, down 23 paise.

India VIX move up by 1.02 percent to 13.79. Pause in the VIX after the sharp spurt of 10 percent indicates some consolidation could be seen with support zones, experts said.

According to Pivot charts, the key support level is placed at 11,461.2, followed by 11,385.5. If the index starts moving upwards, key resistance levels to watch out are 11,587.4 and 11,637.9.

The Nifty Bank index closed at 27,468.70, up 92.65 points on Thursday. The important Pivot level, which will act as crucial support for the index, is placed at 27,292.34, followed by 27,115.97. On the upside, key resistance levels are placed at 27,598.94, followed by 27,729.17.

In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns: 

Buy Torrent Power with a stop loss of Rs 260, target of Rs 274

Buy Divis Laboratories with a stop loss of Rs 1300, target of Rs 1365

Buy Granules India with a stop loss of Rs 119, target of Rs 126

Sell Sun TV Network with a stop loss of Rs 705, target of Rs 680

Sell Maruti Suzuki with a stop loss of Rs 8800, target of Rs 8650

Buy Cipla with target at Rs 675 and stop loss at Rs 650

Buy Havells India with target at Rs 700 and stop loss at Rs 660

Buy Reliance Industries with target at Rs 1300 and stop loss at Rs 1228

Sell Idea Cellular with target at Rs 40 and stop loss at Rs 48

Buy Balrampur Chini with a stop loss of Rs 76 and target of Rs 81

Buy Bosch with a stop loss of Rs 20,900 and target of Rs 22,000

Buy Cadila Healthcare with a stop loss of Rs 412 and target of Rs 445

Sell Cholamandalam Investment with a stop loss of Rs 1430 and target of Rs 1350

Buy Cipla above Rs 665 with stop loss of Rs 659 and target of Rs 680

Disclaimer: The views and investment tips expressed by investment experts on CNBC-TV18 are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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Gold prices rose on Wednesday from an 11-day low as the U.S. dollar eased from its recent rally.

Gold has fallen 1.5 percent from an Aug. 28 high as currency weakness in emerging markets and concerns over global trade disputes strengthened the dollar, making bullion more expensive for buyers with other currencies.

The greenback slipped on Wednesday after a report that Germany would be ready to accept a less detailed agreement on the UK's future economic and trade ties with the EU in a bid to get a Brexit deal done. That boosted the pound and the euro.

With gold still close to a 1-1/2 year low of $1,159.96 an ounce touched last month, there is little room for prices to fall, Julius Baer analyst Carsten Menke said.

"Gold is showing signs of bottoming," he said.

Spot gold gained 0.5 percent to $1,196.40 per ounce by 1:39 p.m. EDT (1739 GMT), after falling on Tuesday to $1,189.20, the lowest since Aug. 24.

U.S. gold futures for December delivery settled up $2.20, or 0.2 percent, at $1,201.30 per ounce, with the dollar down against a basket of major currencies.

Gold has tumbled more than 12 percent from a peak in April as the dollar rose to 14-month highs and investors turned against the metal.

An 8 percent, or 4.6 million-ounce, drop in the holdings of gold-backed exchange traded funds has also pressured the price of gold since late May, while bets by hedge funds and money managers on lower prices on the Comex exchange exceeded bets on higher prices by the most on record last month.

Such negative positioning means speculators will struggle to push prices much lower, Menke said, adding, however, that without a weaker dollar, gold would find it difficult to rise.

Trade concerns continue to support the greenback, with a deadline looming in the U.S.-China trade dispute and a refusal by Canada to bow to key U.S. demands in its trade talks with Washington.

Technical and momentum indicators were gold-positive, but the technical picture would remain mixed unless gold closes above $1,200.70, ScotiaMocatta analysts said.

"If we could see it break $1,215, that to me would be evidence that the sentiment on gold and the dollar is starting to turn," said Matthew Badiali, senior research analyst at Banyan Hill Research.

Meanwhile, spot silver rose 0.6 percent to $14.16 per ounce after falling to its lowest since January 2016 at $13.97 in the previous session.

Platinum gained 1.1 percent to $784.20 per ounce, while palladium declined 0.7 percent to $973.50 after touching an 11-week high of $988.47 on Tuesday.

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हल्दी वायदा (सितंबर) की कीमतों को 6,600 रुपये के नजदीक सहारा रह सकता है और इसमें जवाबी खरीद हो सकती है।

कारोबारियों द्वारा स्थानीय माँग और मसाला कंपनियों की माँग को पूरा करने के लिए खरीदारी के कारण इरोद की मंडियों में हल्दी की फिंगर वेराइटी की कीमतों में बढ़ोतरी हुई है। सभी बाजारों में फिंगर वेराइटी की कीमतों में 150-200 रुपये प्रति क्विंटल की बढ़ोतरी हुई है, जबकि खराब क्वालिटी के कारण रेगुलेटेड मार्केट कमिटी में रूट वेराइटी की कीमतों में 75 रुपये प्रति क्विंटल की गिरावट हुई है।

जीरा वायदा (सितंबर) की कीमतों के 19,000-19,400 रुपये के दायरे में सीमित दायरे में कारोबार करने की संभावना है। 3 से 10 सितंबर तक गुजरात के प्रमुख बाजारों के बंद रहने के कारण खरीदार और बिक्रेता बाजार में सक्रिय नही हैं। दूसरी ओर चीन की ओर से निर्यात माँग कम है, जबकि स्टॉकिस्ट अधिक कीमतों पर खरीदारी नही करना चाहते हैं, जिससे कीमतों पर दबाव रह सकता है।

इलायची वायदा (अक्टूबर) की कीमतों को 1,440 रुपये के स्तर पर रुकावट रह सकती है और कीमतों की बढ़त पर रोक लगी रह सकती है, क्योंकि सितंबर में दूसरे दौर की फसल की कटाई होगी और नीलामी केन्द्रों पर आवक में बढ़ोतरी होगी। सऊदी अरब द्वारा आयात पर रोक के कारण अधिक कीमतों पर निर्यात माँग में कमी बनी हुई है। मौजूदा सीजन में अभी तक कुल 2,023 टन इलायची की आवक हुई है और लगभग 1,996 टन इलायची की बिक्री हुई है।

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सोयाबीन वायदा (अक्टूबर) की कीमतों के नरमी के रुझान के साथ 3,200-3,180 रुपये तक लुढ़कने की संभावना हैं।

बेहतर बारिश और न्यूनतम समर्थन मूल्य में बढ़ोतरी के कारण मध्य प्रदेश, राजस्थान और गुजरात में सोयाबीन के उत्पादन क्षेत्रों में बढ़ोतरी हुई है। इस बीच एनसीडीईएक्स ने मार्च 2019 और इसके बाद जारी होने वाले सोयाबीन के वायदा कॉन्ट्रैक्ट के स्पेशिफिकेशन में बदलाव किया है, जिसके अनुसार अब इन वायदा कॉन्ट्रैक्ट के सभी ओपन पॉजिशन की डिलीवरी अनिवार्य होगी। टेंडर अवधि के द्वारा यदि बिक्रेता द्वारा डिलीवरी की जाती है तो ओपन पोजिशन वाले खरीदार को डिलीवरी केन्द्र से ट्रेंड होने के दो दिनों के भीतर डिलेवरी लेनी होगी।

सरसों वायदा (सितंबर) की कीमतों के 4,000-4,040 रुपये के दायरे में सीमित दायरे मे कारोबार करने की संभावना है। भारतीय सरसों तेल उत्पादक संगठन के अनुसार देश भर की तेल मिलों ने अगस्त महीने में 5,00,000 टन सरसों की पेराई की है, जो पिछले वर्ष की समान अवधि की तुलना में 11% अधिक है। इस खबर के बाद बाजार में तेजी की उम्मीद बढ़ी है। सरसों तेल और सरसों केक की माँग में बढ़ोतरी होने के कारण मिलों की ओर से सरसों की पेराई भी बढ़ गयी है। मॉनसून के दौरान सामान्य तौर पर सरसों तेल की माँग बढ़ जाती है।

सोया तेल (सितंबर) वायदा की कीमतों के 739-745 रुपये के दायरे में सीमित दायरे में कारोबार करने की संभावना है, जबकि सीपीओ (सितंबर) वायदा की कीमतों के 599-607 रुपये के दायरे में कारोबार करने की संभावना है। डॉलर के मुकाबले रुपये के कमजोर होने के कारण आयात महँगा होने से कीमतों को मदद मिल रही है। डॉलर के मुकाबले रुपया 71.75 के निचले स्तर पर पहुँच गया है।

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India is likely to export 4 to 6 million tonnes of sugar in the 2018/19 marketing year starting next month as production could hit a record high, a senior industry official said on Wednesday.

The world's second-biggest producer is likely to export 2.5 million tonnes white sugar and remainder as raw sugar, said Yatin Wadhwana, head of Sucden India.

India has been struggling to export its massive surplus as prices in the world market are trading at steep discounts to local prices.

India should make it compulsory for sugar mills to export at least 7 million tonnes of sugar in the 2018/19 marketing year, the head of a leading trade body said.

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