Sunday, September 20
Mumbai: Volatility Index or India VIX-the fear gauge of the Indian stock market-has dropped to its lowest level in 15 months, as the absence of sharp swings of late, a decline in US volatility, and falling derivatives options volumes have eased risk sentiment. The India VIX remained flat and ended at 11.2 on Thursday. The benchmark Nifty 50 index fell 100.60 points or 0.40% to close at 25,111. "Indian markets are currently mirroring the US VIX, which is at a 7-8 month low, offering some relief to traders globally," said Ajit Mishra, senior vice-president, research, Religare Broking. "With limited domestic triggers and much of the earnings season already priced in, the index remains subdued."Since the start of July, Nifty has traded in a narrow 25,000-25,500 range, failing to break out in t
Chevron will proceed with its $53 billion acquisition of Hess, after it prevailed in a landmark legal battle against larger rival Exxon Mobil to gain access to the largest oil discovery in decades. Shares of Chevron were up 3.6% in premarket trading, with Hess gaining nearly 7.4%. Exxon shares were up 0.3%. CNBC first reported the arbitration outcome. An Exxon Mobil spokesperson confirmed to Reuters that Chevron prevailed in the mediation over Guyana oil assets. Chevron and Hess did not immediately respond to Reuters request for comment. It is vindication for CEO Mike Wirth's strategy and a critical win since Hess' most attractive asset is its stake in the prolific Stabroek Block off the coast of Guyana that holds more than 11 billion barrels of oil, a source of growth as Chevron works to
