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Sensex ends 235 points up after last hour recovery

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Major indices turned green in the final hour of trade on Wednesday as the Sensex settled 235 points up from its previous close, after earlier falling close to 700 points lower.
 
The strong recovery was led by the financial sectors that ended with 0.80 per cent gains on the BSE while on the NSE, only the export-oriented Nifty IT and pharma index ended lower.
 
After 3.35 p.m., the S&P BSE Sensex settled 234.51 points or 0.66 per cent higher at 35,704.66 after touching an intra-day high of 35,711.26 and a low of 35,010.82.
 
The NSE's Nifty50 gained 66.35 points or 0.62 per cent to finish at 10,729.85.
 
The benchmark Brent Crude prices rose to $50.93 a barrel while the domestic currency stood at 70.02 per US dollar from its previous close of 70.14.
 
"The oil market is facing a lot of uncertainty and one possibility is that OPEC may go for a further production cut if prices decline," Anuj Gupta, Deputy Vice President - Research, Commodities and Forex, Angel Broking, told IANS.
 
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Sensex down 100 points despite declining crude oil prices

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Despite decline in crude oil prices the Sensex on Wednesday afternoon dropped 100 points over concerns of a slowdown in global growth and a partial shutdown of the US government.
 
All sectors, except consumer durables and capital goods, traded in red. Heavy selling pressure was seen in finance, banking and IT stocks.
 
The benchmark Brent Crude prices declined to 50.15 a barrel following which the domestic currency appreciated to 69.97 per US dollar from its previous close of 70.14.
 
"Oil market is facing a lot of uncertainty and one possibility is that the OPEC may go for further production cut if prices decline," Anuj Gupta, Deputy Vice President - Research, Commodities and Forex, Angel Broking, told IANS
 
A steep decline was seen before Christmas and it was difficult to ascertain the reasons at this stage, Gupta said. 
 
At 1.45 p.m., S&P BSE Sensex traded 105.87 points or 0.30 per cent lower at 35,364.28 after touching a high of 35,443.99 and a low of 35,010.82. 
 
The Nifty traded 19.85 points or 0.19 per cent lower at 10,643.65.
 
IANS
 

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Sensex, Nifty open in red as financials drag

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Key Indian equity indices opened lower on Wednesday on weak global cues concerned over the partial shutdown of the US government and a slowdown in global growth.
 
All sectors, except oil and gas, traded in red. Heavy selling pressure was seen in finance and banking stocks.
 
The Sensex of the BSE opened at 35,443.16 from its previous close of 35,470.15 on Monday.
 
At 9.20 a.m., the Sensex traded 139.22 points or 0.38 per cent lower at 36,486.30. 
 
The Nifty50 of the National Stock Exchange (NSE) opened at 10,930.55 after closing at 10,908.70 on the previous trading day. It traded at 10,599.95 during the morning session, down 63.55 points or 0.60 per cent. 
 
IANS
 

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Global concerns weigh heavy; Sensex loses 270 points

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Key Indian equity indices closed lower for the third straight session on Monday as concerns over the partial US government shutdown and an expected slow down in global growth dented domestic investors' sentiments.
 
In the last three sessions, the S&P BSE Sensex has lost around 1,000 points following seven straight days of gains. 
 
The equity market was choppy with a negative bias for most part but witnessed heavy selling pressure only in the last hour of Monday's trade session. 
 
Globally, investors' sentiments were impacted by reports that US President Donald Trump discussed sacking Federal Reserve Chairman Jerome Powell as well as the impact of a partial US government shutdown.
 
Besides, European equities retreated at the open as all sectors declined on a short trading day amid investors' concern over growth and interest rates. The FTSE and CAC indices declined over half a per cent each.
 
"On the other hand, positive factors were that the Brent Crude (index) fell to over near 2-year low and USD-INR was stable at 70. FMCG stocks witnessed profit booking," the Motilal Oswal Financial Services said in its daily report.
 
The 30-scrip Sensex settled 271.92 points or 0.76 per cent lower at 35,470.15 after touching an intra-day high of 35,910.67 and a low of 35,423.24.
 
The NSE's Nifty50 lost 90.50 points or 0.84 per cent to finish at 10,663.50.
 
Sector wise, except for IT, Teck and telecom sectors on the BSE, all other sectors traded lower led by financial stocks which declined by 0.87 per cent.
 
Stocks of major sectors like banking ended 0.33 per cent lower. While metal, energy, oil and gas along with auto and consumer durables counters lost over 1 per cent, dragging the benchmark index -- Sensex -- lower.
 
The domestic currency which closed on a flat note of 70.14 from its previous close at 70.15 per US dollar as the benchmark Brent Crude declined to 53.64 per barrel.
 
"Technically, with the Nifty correcting further, the short-term trend of the Nifty remains negative. Further downsides are likely once the immediate support of 10,630 is broken. Any pullback rallies could find resistance at 10,707-10,771," said Deepak Jasani, HDFC Securities' Retail Research Head.
 
Investment wise, provisional figures from stock exchanges showed that foreign institutional investors (FIIs) sold shares worth Rs 577.10 crore. Domestic institutional investors (DIIs) bought stocks worth Rs 186.14 crore.
 
On stock specific basis, only six of the 30 shares on Sensex gained, led by Mahindra and Mahindra (1.03 per cent). Other gainers were TCS, Kotak Mahindra, Infosys, Bharti Airtel and State Bank of India, whose stock prices jumped up to 1 per cent.
 
In contrast, top index losers were Hero Motocorp and Bajaj Auto which closed 4.27 per cent and 3.11 per cent, respectively. 
 
Others included NTPC, HDFC, Vedanta, Asain Paints and Tata Motors which lost in the range of 2 to 3 per cent.
 
IANS
 

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Sensex ends 270 points lower on negative global cues

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Taking cues from weak global markets major Indian equity indices on Monday ended lower for the third straight session following the partial shutdown of the US government and concerns over the slowing global growth.
 
BSE Sensex settled 271.92 points or 0.76 per cent lower at 35,470.15 after touching an intra-day high of 35,910.67 and a low of 35,423.24.
 
The NSE's Nifty50 lost 90.50 points or 0.84 per cent to finish at 10,663.50.
 
Except for IT, Teck and telecom sectors on BSE, all the sectors traded lower led by financial stocks which declined by 0.87 per cent.
 
Stocks of major sectors like banking ended 0.33 per cent lower. While metal, energy, oil and gas along with auto and consumer durables counters lost over 1 per cent, dragging down the benchmark index.
 
The domestic currency which closed at 70.15 per US dollar on Friday gained 12 paise as the benchmark Brent Crude declined to 53.64 per barrel.
 
IANS

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Four charred to death in Mumbai

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The bodies of four persons, who were killed in a massive blaze that engulfed a garment factory in Kandivali slum area here, were recovered early on Monday, Brihanmumbai Municipal Corporation (BMC) Disaster Control officials said.
 
The fire which broke out around 3.30 p.m. on Sunday had quickly spread to neighbouring areas, destroying several scores of adjoining hutments.
 
While the conflagration was brought under control around midnight, the Mumbai Fire Brigade and other rescuers could recover the four burnt bodies from the debris only on Monday. 
 
Although some persons were feared trapped in the ground-plus-one structure housing of the small garment manufacturing unit, the rescuers could not reach them in time.
 
Eye-witnesses said around a dozen gas cylinders in some homes also exploded as the Damu Nagar slum was rapidly engulfed by the inferno.
 
The deceased have been identified as: Raju R. Vishwakarma, 30, Rajesh C. Vishwakarma, 36, Bhavesh V. Parekh, 51, and Sudama L. Singh, 36.
 
A search operation was underway to retrieve any more bodies that might be trapped under the debris, the officials said.
 
Hundreds of families rendered homeless have been accommodated in a nearby garden and provided basic amenities and food with the help of BMC and some NGOs.
 
IANS
 

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Key Indian equity indices open in green

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The key Indian equity market indices on Monday opened higher despite a cautious trend in Asian markets.
 
The Sensitive Index (Sensex) of the BSE, which had closed at 35,742.07 on December 21, opened higher at 35,859.66 points.
 
Minutes into trading, it was quoting at 35,731.58, down by 10.49 points, or 0.03 per cent.
 
At the National Stock Exchange (NSE), the broader 51-scrip Nifty, which had closed at 10,754 points on Friday, was quoting at 10,769.95, up 15.95 points or 0.15 per cent.
 
Concerns over global economic growth and threat of a partial US government shutdown spooked international and domestic equity indices on the last day of trading, with the BSE Sensex and the NSE plunging nearly 700 points and 200 points, respectively.
 
On Monday, Asian indices were showing a mixed trend. Hong Kong's Hang Seng was quoting red, down by 0.66 per cent, South Korea's Kospi was down by 0.19 per cent, SET Composite of Thailand was down by 0.20 per cent and China's Shanghai Composite index was trading in green, up by 0.16 per cent.
 
Last week, Nasdaq closed in red, down by 2.99 per cent while FTSE 100 was up by 0.14 per cent at the closing on Friday.
 
IANS
 

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Fit-again Jadeja available for 3rd Test vs Australia

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The BCCI announced on Sunday that all-rounder Ravindra Jadeja has regained fitness and is now available for selection for the third Test against Australia which begins on December 26.
 
"Jadeja's left shoulder has continued to improve and he is now available for the 3rd Test match of the series in Melbourne," the BCCI said in a statement.
 
Jadeja had complained of left shoulder discomfort after prolonged bowling spells during the 2018, West Indies ODI series. He underwent a guided injection in Mumbai for this on November 2.
 
That enabled the left-arm spinner to represent Saurashtra in the Ranji Trophy match from November 12-15. He was declared fit by the BCCI and selected for the Test series against Australia. 
 
After Jadeja flew to Australia, he complained of a recurrence of his symptoms on November 30 during the match against the CA XI in Sydney. 
 
He was given another injection into a slightly different site on that day. This injection along with his rehabilitation programme improved his condition.
 
"In the lead up to the Perth Test match on 14th December, the management and the all-rounder were of the opinion that the intensity of his bowling in the nets could have been higher, to match the standards required for such an intensely fought series. For this reason, he was not considered for selection for the 2nd Test match," the BCCI statement added.
 
IANS
 

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SEBI directs FHL, Fortis Hospitals to recover Rs 403 crore from Malvinder, Shivinder with due interest

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The Securities and Exchange Board of India (SEBI) has directed Fortis Healthcare (FHL) and Fortis Hospitals (FHsL) to recover Rs 403 crore along with due interest from Malvinder Mohan Singh, Shivinder Mohan Singh and other entities within three months.
 
The development comes after FHL and FHsL approached the regualtor on its earlier ad interim ex-parte order in the matter of Fortis Healthcare passed on October 17, 2018.
 
In its interim order posted on the SEBI website on Friday, the regulator said: "FHL and AFHsL shall take all necessary steps to recover the above mentioned amount of Rs 403 crore (approx.) along with due interest from Noticee nos 3 to 11, within three months from the date of the 'Interim Order'."
 
"The Noticee nos. 3 to 11 shall, jointly and severally, repay the above mentioned amount of Rs 403 crore (approx.) along with due interest to FHsL, within three months from the date of the 'Interim Order'."
 
In addition, Malvinder Mohan Singh and Shivinder Mohan Singh have been directed not to associate themselves with the affairs of FHL and FHsL in any manner whatsoever, till further directions.
 
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India’s forex reserves dip by $ 613.9 million to $ 393.12 billion

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India’s foreign exchange reserves dipped by $ 613.9 million to $ 393.12 billion during the week ended December 14, the Reserve Bank of India (RBI) said here today.
 
The country’s forex reserves had risen by $ 16.6 million to $ 393.734 billion during the previous week.
 
In its weekly statistical supplement issued here today, the central bank said that foreign currency assets, which constitute a major chunk of the forex reserves, had gone down by $ 631.6 million to $ 367.865 billion during the week.
 
Foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of non-US currencies such as the euro, pound and yen held in the reserves.
 
According to the bulletin, the country’s gold reserves increased by $ 37.2 million to $ 21.187 billion, while its special drawing rights (SDR) went down by $ 7 million to $ 1.45 billion.
 
India’s reserve position in the International Monetary Fund (IMF) decreased by $ 12.5 million to $ 2.617 billion, the bulletin added.
 
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Sensex falls nearly 700 points amid weakness in global markets

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Weakness in the global markets and the domestic currency due to the US Fed rate hike along with profit booking pulled the Sensex down close to 700 points on Friday.
 
BSE Sensex settled 689.60 points or 1.89 per cent lower at 35,742.07 after touching an intra-day high of 36,483.49 and a low of 35,694.74.
 
The NSE's Nifty50 lost 197.70 points or 1.81 per cent to finish at 10,754.
 
"Indian markets are catching up with the fall in the Asian markets. Investors have seen that crude oil prices have stopped falling...so now markets are reacting to the Fed decision and worries regarding the global growth," Deepak Jasani, HDFC Securities' Retail Research Head told IANS.
 
Sensex had closed just 50 points lower on Wednesday despite weakness in global markets, ending gains registered over seven straight sessions. 
 
All the 19 sectors on BSE ended in red led by heavy selling in finance and banking stocks.
 
The Indian rupee lost over 50 paise against the US dollar on Friday as it traded at Rs 70.23 from its previous close of 69.70. The decline in the rupee came after it made significant appreciation in the past few sessions.
 
Except for the power and energy stocks -- NTPC, Power Grid, and Coal India -- all the stocks on Sensex ended lower.
 
IANS
 

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All 22 accused in Sohrabuddin encounter case acquitted

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A special CBI court on Friday here acquitted all 22 accused in the Sohrabuddin Sheikh and Tulsiram Prajapati encounter cases and rape-cum-murder of Kausar Bi saying witnesses and proofs were not satisfactory.
 
"Witnesses and proofs were not satisfactory to prove conspiracy and murder in the 2005 encounter killing," said Special CBI judge S.J. Sharma, who observed that the circumstantial evidence was not substantial. 
 
IANS
 
 
 
 
 

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Sensex down 400 points on weak global cues

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Following a global sell off, Sensex declined by 400 points during the afternoon session of the trade on Friday.
 
At 1.19 p.m., the Sensex traded 400.97 points lower at 36,030.70 and the Nifty50 traded 121.65 points down at 10,830.05 from its previous close.
 
Heavy selling pressure was witnessed in all the sectors on BSE and NSE, except for the metal stocks.
 
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Salman, Katrina, others attend Priyanka-Nick wedding reception

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Actress Priyanka Chopra and her singer husband Nick Jonas hosted their third wedding reception in Mumbai on Thursday. The newlyweds partied with some of the top Bollywood stars at Taj Lands End Hotel.
 
Priyanka looked stunning in white embellished outfit while Nick Jonas complemented her in a dapper green suit.
 
Salman Khan was present at the venue. Earlier, there were some rumours that he was upset with Priyanka for quitting his film 'Bharat'. 
 
Rekha arrived for the party in her usual stunning Kanjeevaram saree. Kangana Ranaut came with her mother and sister.
 
Newly-wedded couple Ranveer Singh and Deepika Padukone looked mesmerising in their black traditional outfits at the reception.
 
Other top Bollywood celebrities like A. R. Rahman, Katrina Kaif, Parineeti Chopra, Karan Johar, Anil Kapoor, Bobby Deol, Anushka Sharma, Kiara Advani, Sammera Reddy, Geeta Basra, Rajkummar Rao, Patralekha, Zaira Wasim, David Dhawan, Pooja Hedge, Raveena Tandon, Vivek Oberoi and Tamanna Bhatia also attended the reception.
 
Actors Kajol, Vidya Balan along with her husband Siddharth Roy Kapoor and singer Asha Bhonsle also arrived at the venue. Badminton star Saina Nehwal, Mukesh Bhatt and Rakeysh Omprakash Mehra were also spotted at the reception.
 
Hema Malini looked beautiful in a blue saree. Tusshar Kapoor arrived at the reception with his father and veteran actor Jeetendra.
 
Filmmaker Madhur Bhandarkar, who worked with Priyanka in 'Fashion', was also present. Actor Shabana Azmi and fashion designer duo of Abu Jani and Sandeep Khosla were also spotted at the reception.
 
Priyanka and Nick tied the knot in Umaid Bhawan Palace in Jodhpur, and had two wedding ceremonies -- a Christian and Hindu. 
 
Nick Jonas, who was in the US after their short vacation in Oman, flew in for the Mumbai reception.
 
On the work front, Priyanka will be seen on the screen in Shonali Bose's 'The Sky Is Pink' along with Farhan Akthar and Zaira Wasim.
 
The film is being co-produced by Siddharth Roy Kapur, Ronnie Screwvala and Priyanka Chopra.
 
IANS
 

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Markets open in red on Wednesday

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The 30-scrip Sensitive Index (Sensex) on Friday opened on a negative note during the morning trade session.
 
The Sensex of the BSE which had closed on Thursday at 36,431.67, opened on Friday at 36,449.27, touched a high of 36,450.36 and a low of 36,327.31.
 
The Sensex is trading at 36,394.06 down by 37.61 points or 0.10 per cent.
 
On the other hand, the broader 50-scrip Nifty at the National Stock Exchange (NSE) opened at 10,944.25 points after closing at 10,951.70 points.
 
The Nifty is trading at 10,938.20 points in the morning.
 
IANS
 
 
 
 
 

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W V Raman appointed as head coach of Indian women’s cricket team

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The Board of Control for Cricket in India (BCCI) has appointed former Indian cricketer W. V. Raman has Head Coach of the Indian women's cricket team.
 
A press release from BCCI said his selection was based on the recommendations of the ad hoc committee comprising former Indian skipper Kapil Dev, former Indian opener Anshuman Gaekwad and former member of the Indian women's team Shantha Rangaswamy.
 
The committee conducted interviews of the shortlisted candidates at the BCCI HQ on Thursday, it said.
 
According to the release, the ad hoc committee had decided on three names -- Gary Kirsten, W V Raman and Venkatesh Prasad, in that order of preference.
 
"However, Mr Kirsten was unable to take up this assignment due to his ongoing contract with an Indian Premier League franchise, which would have entailed Conflict of Interest as per the BCCI constitution.
 
"In view of this, the BCCI appointed Mr Raman as the Head Coach of the Indian Women's Cricket team," the release added.
 
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Bombay HC confirms death for convict in Andhra techie's rape-murder

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The Bombay High Court on Thursday confirmed the death penalty awarded by a lower court to Chandrabhan Sudam Sanap, convicted of the sensational 2014 rape-cum-murder of an Andhra Pradesh techie, Esther Anuhya in Mumbai.
 
A division bench comprising Justice Ranjit More and Justice Bharati Dangre, confirming a women's court verdict of December 2015, observed that the case fell in the "rarest of rare category" and had "shocked the conscience of society".
 
The court further said that they had not seen any "remorse" on the (then) 28-year-old accused, did not see possibility of any reform, and "such a person remains a menace to society."
 
It was on January 5, 2014 when Esther, a 23-year old software engineer with Tata Consultancy Services (TCS), was offered a lift by Sanap on his motorcycle from Lokmanya Tilak Terminus to her hostel in Andheri West.
 
Sanap raped and murdered Esther. Subsequently he burnt and disposed of her body at a desolate area on the Eastern Express Highway near Bhandup before driving away. Her half-burnt and decomposed body was found after 11 days when some pedestrians reported it.
 
Investigators who cracked the case nearly two months after she was reported missing said Sanap was a mobile phone thief and robbery was the main motive behind the crime.
 
That fateful morning around 5 a.m. Esther had returned by train to Mumbai by the Vishakhapatnam-LTT Express, after celebrating Christmas and New Year with her family in Machilipatnam.
 
En route, Sanap stopped the bike on the pretext that it had run out of petrol, then grabbed and dragged Esther to the bushes in the foggy darkness.
 
She strongly resisted him, but he repeatedly clobbered her with stones, raped and strangled her with a dupatta, took her two bags containing a laptop and other valuables and fled.
 
Later, he came back to search for her mobile phone but could not find it. He burnt her body and again left the crime scene.
 
Amid a series of protests and massive public support for Esther, the Mumbai Police and Railway Police succeeded in solving the case with the help of CCTV camera footages of that morning near the LTT premises and mobile call records.
 
IANS
 

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Global weakness halts Sensex's winning streak

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In line with weakness in global markets, the S&P BSE Sensex and NSE Nifty50 ended on a flat-to-negative note after trading in a narrow range on Thursday following the US Federal Reserve's short-term interest rate hike and lowering of the US growth rate.
 
However, some respite came to the market after the US Fed signalled that its rate tightening cycle is nearing an end. A hike in the US interest rate drives FII investments away from emerging markets like India.
 
Additionally, a steep decline in crude oil prices and strong gain by the rupee against the US dollar triggered a last-hour buying spree, which, however, failed to lift the market. Consequently, the Sensex closed 50 points lower, snapping its seven-session-long gaining streak.
 
The rupee settled at 69.70 against the US dollar after closing at 70.40 on Wednesday.
 
"Fed's decision to increase the short-term interest rate and its indication for a milder path of future increase weakened the dollar which supported the domestic currency," Anuj Gupta, Deputy Vice President - Research, Commodities and Forex, Angel Broking, told IANS. 
 
The benchmark Brent Crude had slipped to $55.48 a barrel, down over 1 per cent, around the closing bell.
 
Major Asian markets closed on a negative note and the European indices like FTSE 100, DAX and CAC 40 traded in the red.
 
"The US Federal Reserve raised interest rates on Wednesday, as expected, but forecast fewer rate hikes next year and signalled its tightening cycle is nearing an end in the face of financial market volatility and slowing global growth," said Abhijeet Dey, Senior Fund Manager-Equities, BNP Paribas Mutual Fund.
 
"The rate hike, fourth of 2018, lifted the target range for the Fed's benchmark overnight lending rate by a quarter of a percentage point to a range of 2.25 per cent to 2.50 per cent." 
 
Analysts said that barring the healthcare and auto indices, which ended the day on a positive note, all other sectoral indices on the National Stock Exchange closed in the red, while on the BSE, metal and telecom stocks along with index pivotals finance and banking stocks ended lower.
 
The 30-scrip Sensex settled 52.66 points or 0.14 per cent lower at 36,431.67 points after touching an intra-day high of 36,475.52 and a low of 36,202.90.
 
Similarly, the wider Nifty50 also ended in the red. It lost 15.60 points or 0.14 per cent to close at 10,951.70.
 
"Technically, while the Nifty has ended in the red, the strong bounce back from the lows indicates that the bulls are not willing to give up easily," said Deepak Jasani, HDFC Securities' Retail Research Head.
 
"Crucial supports to watch for any further weakness is at 10,880."
 
Investment-wise, provisional figures from stock exchanges showed that Foreign Institutional Investors (FIIs) sold shares worth Rs 386.44 crore, while Domestic Institutional Investors (DIIs) bought stocks worth Rs 87.96 crore.
 
Stocks-wise, Yes Bank gained 3.93 per cent and Hero MotoCorp, Mahindra and Mahindra, Asian Paints and Tata Motors ended higher in the range of 1 to 2 per cent.
 
In contrast, State Bank of India, Wipro, Vedanta, Bharti Airtel and Maruti Suzuki lost up to 2.18 per cent.
 
IANS

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New RBI Governor completes consultations with state-run banks

Shaktikanta Das
Shaktikanta Das
New RBI Governor Shaktikanta Das has completed his consultations with heads of state-run banks, he said on Wednesday.
 
Das, who had earlier served in the government as Economic Affairs Secretary, took charge at the Reserve Bank of India (RBI) last week almost immediately after the abrupt resignation of Urjit Patel as the RBI Governor, a rare phenomenon in the banking world.
 
"Meetings with public sector banks completed. Shall meet representatives of private sector banks and cooperative banks next week," Das said on micro-blogging site Twitter.
 
Briefing media after taking charge, Das had said that consultations with stakeholders have become fundamental to the central bank's functioning in view of the complexity of modern day decision-making and that he would start this process with meeting the heads of public sector banks (PSBs). 
 
Patel's resignation followed the most significant crisis in government-RBI relations provoked by the liquidity crunch in the economy.
 
The government's "differences" with the RBI centres on four issues - the former wanted liquidity support to head off any credit freeze risk, a relaxation in capital requirements for lenders, relaxing the prompt corrective action (PCA) rules for banks struggling with accumulated non-performing assets (NPAs or bad loans) that have reached the staggering level of over Rs 12 lakh crore, and support for MSMEs.
 
Earlier on Thursday, the government presented in the Lok Sabha the second Supplementary Demands for Grants for 2018-19 for gross additional expenditure of Rs 85,948.86 crore which includes Rs 41,000 crore for recapitalisation of the PSBs that have been hit hard by NPAs.
 
Currently, 11 banks with high bad debts are under the PCA framework that prohibits them from further lending. On the insistence of the Central government, the RBI's Board for Financial Supervision is expected to meet soon.
 
IANS
 

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Sensex ends lower over Fed rate hike

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In line with weakness in global markets, the BSE Sensex and Nifty50 ended lower on Thursday after the US Federal Reserve raised its short-term interest rate.
 
Despite a strong recovery in the last hour of the trade, Sensex closed 50 points lower, snapping its 7-session long gaining streak.
 
Metal and telecom stocks along with index pivotals finance and banking stocks ended lower.
 
Sensex settled 52.66 points or 0.14 per cent lower at 36,431.67 after touching an intra-day high of 36,475.52 and a low of 36,202.90.
 
The Nifty50 lost 15.60 points or 0.14 per cent to finish at 10,951.70.
 
"Fed's decision to increase the short-term interest rate and its indication for a milder path of future increase weakened the dollar which supported the domestic currency," Anuj Gupta, Deputy Vice President - Research, Commodities and Forex, Angel Broking, told IANS. 
 
The Indian rupee gained close to 40 paise after the Fed decision and a sustained decline in the global crude oil prices. It traded around 70 against the US dollar after closing at 70.40 on Wednesday.
 
The benchmark Brent Crude also slipped to $55.48 a barrel.
 
IANS
 

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Sensex down on Fed induced global weakness

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In line with global markets, BSE Sensex and Nifty50 traded lower on Thursday after the US Federal Reserve raised its short-term interest rate.
 
Metal and telecom stocks witnessed selling pressure along with index pivotals finance and banking stocks.
 
At 2.07 p.m., the Sensex traded 151.95 points lower at 36,332.38 and the Nifty50 traded 51.60 points down at 10,915.70 from the previous close.
 
"Fed's decision to increase the short-term interest rate and its indication for a milder path of future increase weakened the dollar which supported the domestic currency," Anuj Gupta, Deputy Vice President - Research, Commodities and Forex, Angel Broking, told IANS. 
 
The Indian rupee gained close to 40 paise after the Fed decision. It traded at Rs 70.09 against the US dollar after closing at 70.40 on Wednesday.
 
Analysts said the rupee may soon breach the 70 a dollar mark.
 
IANS
 

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Hopes of dovish US Fed, low oil prices lift equity market

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Expectations of a marginal hike in US interest rates, along with lower crude oil prices and healthy inflows of foreign funds, lifted the key equity indices for the seventh consecutive day on Wednesday.
 
Additionally, investor sentiments were boosted on the back of positive global markets and the Reserve Bank of India (RBI)'s announcement of additional open market bond purchases.
 
The domestic cues tracked major Asian markets which closed on a positive note, barring the Nikkei and Shanghai indices. European indices like FTSE 100, DAX and CAC 40 also traded in the green.
 
Index-wise, the S&P BSE Sensex settled 137.25 points, or 0.38 per cent higher, at 36,484.33, after touching an intra-day high of 36,554.99 points and a low of 36,381.87.
 
The NSE Nifty50 gained 58.60 points or 0.54 per cent to close at 10,967.30.
 
According to Vinod Nair, Head of Research, Geojit Financial Services: "Market maintained positive momentum supported by sharp fall in bond yield and continued infusion of liquidity by RBI via open market operation, while bearish view on oil prices added strength to rupee.
 
"On global front, market is expecting dovish hike by FED which is likely to calm investor's nerves in the emerging markets like India."
 
Sector-wise, finance, power and oil and gas stocks gained over 1 per cent each.
 
On daily investments, provisional figures from stock exchanges showed a healthy buying trend by the Foreign Institutional Investors (FIIs), who purchased shares worth Rs 1,209.21 crore, while Domestic Institutional Investors (DII) sold stocks worth Rs 481.46 crore.
 
The inflow along with broadly positive global markets indicated expectations of a dovish decision by the Federal Open Market Committee (FOMC).
 
In general, any major hike in the US interest rate drives FII investments away from emerging markets like India.
 
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In terms of currency, Indian rupee closed at Rs 70.40 against the US dollar from its previous close of 70.44 after the benchmark Brent Crude slipped to $56.35 around closing bell.
 
On Tuesday, the rupee had gained against the US dollar after registering a Rs 1.11 rise -- the strongest single day gain in five years. 
 
"Healthy foreign fund inflow and lower crude price, which is at a 52-week low, have helped the currency. The Indian rupee has been the best emerging market currency in the past week," said Anindya Banerjee, Deputy Vice President - Currency and Interest Rates, Kotak Securities.
 
"Indian bonds, equity and the currency have outperformed other major markets by a big margin." 
 
HDFC Securities' Retail Research Head Deepak Jasani cautioned traders to "be prepared for some short-term corrections as the markets have been continuously running up." 
 
"Crucial supports to watch for any weakness are at 10,928." 
 
Stock-wise, Asian Paints gained 3.39 per cent, most among the 30 stocks on BSE Sensex, closely followed by Axis Bank.
 
State Bank of India, Maruti Suzuki and ITC gained in 1-2.68 per cent range.
 
In contrast, Infosys lost 2.10 per cent. Export-oriented IT majors like Infosys and TCS fell in the range of 1 to 2 per cent owing to steep gains by the Indian rupee against the US dollar. Vedanta lost 0.96 per cent.
 
IANS
 

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Sensex gains for 7th day on trot over lower crude prices

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Sensex and Nifty continued their winning streak for the seventh consecutive day on Wednesday on the back of declining crude oil prices and an appreciating domestic currency.
 
Apart from export-oriented IT and pharma stocks all other sectors ended in the green, both on NSE and BSE.
 
Sensex settled 137.25 points or 0.38 per cent higher at 36,484.33 points after touching an intra-day high of 36,554.99 and a low of 36,381.87.
 
The Nifty50 gained 58.60 points or 0.54 per cent to close at 10,967.30.
 
Finance, power and oil and gas stocks outperformed the benchmark Sensex, gaining over 1 per cent.
 
The domestic currency continued to gain against the US dollar after registering a Rs 1.11 rise on Tuesday -- the strongest single day gain in five years. 
 
Rupee was trading around Rs 70.16 against the US dollar from its previous close of 70.44 after the benchmark Brent Crude slipped to $56.35 around closing bell.
 
"Healthy foreign fund inflow and lower crude price, which is at a 52-week low, have helped the currency. The Indian rupee has been the best emerging market currency in the past week," said Anindya Banerjee, Deputy Vice President for currency and interest rates with Kotak Securities.
 
"Indian bonds, equity and the currency has outperformed other major markets by a big margin," Banerjee said. 
 
Investors, however, are still cautious about the outcome of the ongoing Federal Open Market Committee (FOMC). The committee is widely expected to push up interest rates which has kept the sentiments tepid, analysts said.
 
IANS
 

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Sensex up 150 points over sliding crude oil prices

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Amid mixed Asian cues and falling crude oil prices the benchmark Sensex extended its early gains to 150 points during the afternoon session of the trade on Wednesday.
 
Apart from the export-oriented IT and pharma stocks all other sectors gained on both NSE and BSE.
 
At 1.20 p.m., the Sensex traded 152.40 points higher at 36,499.48 and the Nifty50 traded 61.40 points or 0.56 per cent up at 10,970.10, from the previous close.
 
The domestic currency continued to gain against the US dollar on Wednesday afer registering a Rs 1.11 rise on Tuesday -- the strongest single day gain in five years. 
 
Rupee was trading at Rs 70.16 against the US dollar from its previous close of 70.44 after the benchmark Brent Crude slipped to $56.68 a barrel.
 
"Healthy foreign fund inflow and lower crude prices which is at a 52-week low have helped the currency. The Indian rupee has been the best emerging market currency in the past week," said Anindya Banerjee, Deputy Vice President for Currency and Interest Rates with Kotak Securities.
 
"Indian bonds, equity and the currency has outperformed other major markets by a big margin," Banerjee said. 
 
Investors are, however, still cautious about the ongoing Federal Open Market Committee (FOMC) meeting later in the day. The committee is widely expected to raise interest rates which has kept the sentiments tepid, analysts said.
 
IANS
 

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No leadership change in BJP for 2019 polls: Amit Shah

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Bharatiya Janata Party (BJP) President Amit Shah on Wednesday categorically denied any leadership change and said that the ruling NDA will contest the 2019 elections under Prime Minister Narendra Modi.
 
"No question of leadership change. The NDA will contest the 2019 elections under the leadership of Modiji," Shah said, speaking at the 'Surging India' "Republic TV" summit.
 
"In 2014, the BJP had government in six states, now we have it in 16 states. So tell me who will win?" Shah shot back to a query by Republic TV head Arnab Goswami.
 
He added that state and central elections are fought on different issues and "the 2019 elections shall be fought on India..."
 
Shah's statement assumes significance after a prominent Maharashtra farmers' leader, the Vasantrao Naik Sheti Swavalamban Mission (VNSSM) Chairman Kishore Tiwari wrote to the Rashtriya Swayamsevak Sangh (RSS) chief Mohan Bhagwat and general secretary Bhaiyyaji Suresh Joshi, demanding immediate replacement of an "arrogant" Modi with the "gentle" Nitin Gadkari if the BJP wants to win the next elections.
 
IANS
 

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