Sensex Today | Share Market Live Updates: India stocks seen subdued; GIFT Nifty down, Asia declines
here.ONGC Videsh Ltd (OVL) is in talks with its Venezuelan partner to secure oil cargoes in lieu of unpaid dividends totalling $600 million, two people aware of the development said. This follows the US easing sanctions on Venezuela, where India’s overseas explorer has partnered state-owned Petróleos de Venezuela SA (PdVSA) for the San Cristobal project.Any oil flowing in from Venezuela holds significance for India, the world’s third largest oil buyer that once counted the Latin American country among its largest oil suppliers.A spokesperson for OVL confirmed in response to a query that the San Cristobal project owes dividends of around $600 million to the company.
“Post easing of US sanctions, OVL is in continuous dialogue with PdVSA for recovery of accrued dividend by various mechanisms including allocation of crude cargoes in lieu of accrued dividend," the spokesperson said.Adani Group, Hero MotoCorp, Coal India, LIC, DMart, Hindustan Zinc, among others, will be in focus today.Delta Corp, Indian Energy Exchange, SAIL, Zee Entertainment Enterprises, Balrampur Chini Mills and Hindustan Copper are in the F&O ban list for 3 January.GIFT Nifty futures traded at 21,680 as against the previous close of 21,754, indicating a weak start for the Indian stock market today.At close on Tuesday, the Sensex was down 379.46 points at 71,892.48, and the Nifty fell 76.10 points to 21,665.80. Asian shares extended a global sell-off on Wednesday while the dollar held gains as market optimism about early and aggressive US interest rate cuts ebbed ahead of the release of Fed minutes and jobs data.MSCI's broadest index of Asia-Pacific shares outside Japan fell 1.1% after a 1.0% drop the previous day in a sluggish start of the new year.
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