Dhaka, Bangladesh (BBN) – The Bangladesh Business News prepared Wednesday’s midday business round up compiling reports, published by different local and international newspapers and news portals.
Bangladesh’s stocks stay upbeat at midday Wednesday
Bangladesh’s stocks stayed in the upbeat trend at midday on Wednesday as investors continued on buying binge on sector-wise stocks.
Sensex down 127 points; M&M slumps 3.4%, TCS 2.4%
The Sensex was trading lower by 246.57 points or 0.68 per cent at 36,279.57 and the Nifty down 86.65 points or 0.79 per cent at 10,921.65 on heavy selling in auto, TECk, consumer durables and IT stocks amid weak global cues.
Rupee hits record low as high global crude prices weigh
The Indian rupee dropped to a record low on Wednesday as a sharp rise in global crude oil prices heaped more pressure on the currency, prompting the central bank to quickly intervene to slow its fall.
Japan’s Nikkei lower as major automakers decline
Asia markets were mostly lower in afternoon trade on Wednesday. The Nikkei 225 slipped by about 0.7 percent in the afternoon, while the Topix index declined by 0.89 percent.
Gold prices rise on softer dollar, Italy budget woes
Gold prices touched a one-week high on Wednesday as the dollar softened and demand for the safe-haven metal got a boost on concerns surrounding Italy’s plans to tackle budgetary deficit.
Oil firm on Iran sanctions, but rising US supply and strong dollar weigh
Oil prices were firm on Wednesday on expectations of tighter markets once U.S. sanctions target Iran’s petroleum industry from next month, although a strong dollar and rising U.S. crude supply curbed gains.