losangelesnewstoday.com
losangelesnewstoday.com June 20, 2018


BT Market Podcast: RBI policy powers Sensex, Nifty to new highs

08 April 2018, 01:02 | Maryann Sutton

Representational image

Representational image

The Nifty too was down by 116.60 points or 1.14 per cent. Adani Ports, Cipla, Reliance Industries, Bajaj Finance, Sun Pharma were the other prominent gainers in the Nifty.

Brokers said, selling by participants, mostly of a profit-booking nature, attributed to fall in select counters but a firm trend at other Asian markets kept the fall limited. First, in a circular issued to banks on Wednesday, RBI has temporarily relaxed provisioning norms for banks that could help them improving their financial results for the last financial year. A day after Sensex surged almost 600 points, investors traded cautiously as they looked to book profits ahead of the weekend.

The NSE Nifty, after shuttling between 10,331.80 and 10,227.45, finally settled 196.75 points, or 1.94 points higher at 10,325.15. Bank stocks, which went out of favour in recent months due to a spate of scams and asset quality issues stole the limelight of Thursday.

Anti-India protests erupt in Kashmir amid deadly fighting
According to a Kashmir Media Service report, search operations were conducted in Islamabad and Shopian districts of South Kashmir. The Indian police also raided the residence of APHC leader, Muhammad Yousuf Naqash, in Srinagar and harassed his family members.

Besides, positive cues from the global markets, along with healthy buying in banks, metals and auto stocks, pushed the BSE Sensex over 500 points and the NSE Nifty50 nearly 200 points higher. Realty, capital goods, information technology, consumer durables and automobile stocks also had a good outing.

The market breadth was negative with 1,444 shares declining ed nd 1,190 shares rising on the BSE. The central bank has left the CRR and SLR also unchanged at 4% and 19.5%, respectively. However, the policy undertone was more neutral this time versus the hawkish stance in the previous policy. It was followed by IDBI Bank (7.94 million), Unitech (5.26 million) and Jaiprakash Associates (4.13 million). In the February meeting, the bank's Monetary Policy Committee had voted for a pause in the monetary policy with the exception of RBI executive director Michael Patra who voted for a 25 basis points hike.



Other News

Trending Now

USA job creation tumbles in March; unemployment steady at 4.1%
The figure was slower than previous months and well below expectations that left the unemployment rate unchanged at 4.1 percent. But retail businesses shed 4,000 jobs and construction companies lost 15,000 workers after going on a hiring spree in February.

Team Nigeria parade in opening ceremony of 2018 Commonwealth Games
In Glasgow last time around, India finished fifth with 64 medals, with 15 of them being gold medals. Ferguson-McKenzie ran a time of 10.91 seconds to set the record at the 2002 Manchester Games.

Sixers' Joel Embiid diagnosed with concussion and orbital bone fracture
The Sixers announced Embiid suffered a facial contusion on Wednesday night, but have since downgraded their superstar. Fultz was driving toward the basket 20 seconds into the period when he appeared to accidentally head-butt Embiid.

Mueller Releases Secret Memo Underpinning Manafort Probe
He argued that his guilty plea has been punishment enough because it will prohibit him from practicing law in the U.K. The Department of Justice is now working with the Russian government to extradite the 13 Russian nationals.

Samsung Galaxy S9 Mini Could Be On The Way
We are yet to see a new Galaxy smartphone competing with the likes of Xiaomi Redmi Note 5 Pro and Honor 9 Lite. This is not the first time that there are rumors about a Mini version of Samsung's flagship smartphone.

Far Cry 5 Is Fastest-Selling Game in Franchise History
Explore Hope County and discover the Montana countryside, wildlife, and its inhabitants in an exciting open world. Prior to Far Cry 5's launch, Ubisoft said the game's Live Events will kick off April 3 .

Mueller's team says Trump not now a criminal target
But a partly redacted memo included in court filings late Monday night revealed that Deputy Attorney General Rod J. Rosenstein authorized Mueller to pursue allegations that Manafort colluded with Russian Federation in 2016.

Trump says he didn't know lawyer paid $130K to Stormy Daniels
However she lost a court motion for Mr Trump to give sworn testimony about her claim that they had a relationship. Daniels also signed a non-disclosure agreement.

Unusual April snow storm moves out quickly
Most schools closed for the day, but polls are open! The timing of this storm will be Wednesday night into Thursday night. Highs Friday will be in the 30s and then dip into the 20s that night, according to the National Weather Service .

Moto G6, G6 Play US Pricing Revealed By Retailer
As for the availability details, Moto G6 is expected to ship starting May 17, which hints at April launch of the phone. There will be an 8-megapixel sensor paired with a LED flash on the front and will have the Face Unlock feature too.