Category: BUSINESS

BSE benchmark Sensex plummeted over 424 points Friday led by a sharp selloff in metal and auto stocks amid negative cues from the global markets on renewed concerns over the US-China trade tiff.The 30-share index cracked 424.61 points, or 1.15 per cent, to finish at 36,546.48, while the broader NSE Nifty slumped 125.80 points, or 1.14 per cent to 10,943.60.Sudden selling in metal and auto counters led to a sharp drop at the fag end of the session, traders said. Tata Motors was the biggest loser on Sensex, cracking 17.93…

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Benchmark equity indices gave up gains to end almost flat on Thursday as investors booked profits at higher levels, after the the Reserve Bank surprisingly reduced the repo rate by 0.25 per cent.After rising nearly 200 points, the 30-share BSE Sensex ended 4.14 points, or 0.01 per cent, lower at 36,971.09; while the broader Nifty settled 6.95 points, or 0.06 per cent, higher at 11,069.40.India VIX, the fear gauge for domestic equities, rose 1.40 per cent.Rate-sensitive stocks swung between gains and losses after the rate-cut announcement, with BSE realty index…

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Snapping its two-day losing streak, the rupee ticked higher by 23 paise to close at 71.57 per US dollar Tuesday amid fresh foreign fund inflows and gains in domestic equities. Forex dealers said investors were cautious ahead RBI’s Monetary Policy Committee outcome scheduled for February 7.“Rupee is consolidating in the range, as most of the Asian region’s markets shut for Lunar New Year holidays. Near term focus of domestic forex market will be on three-day central bank policy meet, starting Tuesday,” said V K Sharma, Head PCG & Capital Markets…

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The benchmark BSE Sensex Monday recovered from the day’s low to end 113 points higher, as equities pulled off a fag-end rally led by RIL amid fresh inflows by foreign funds ahead of the RBI’s monetary policy review. After gyrating nearly 400 points between the day’s low of 36,225.48 and an intraday high of 36,622.77, the 30-share index ended 113.31 points, or 0.31 per cent, higher at 36,582.74. The index posted gains for a third straight day.  The NSE Nifty also edged higher by 18.60 points, or 0.17 per cent,…

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Union Minister Arun Jaitley Sunday rejected criticism of giving a ‘jobless economic growth’, saying the absence of any major social or political agitation in the last five years indicates government schemes have created employment. In an interview to DIN, Jaitley, who is here for medical treatment, justified the absence of any major mention of job creation in the Interim Budget presented on February 1, saying such budgets are different from the normal budget speeches as they are more like “a report card and a road map.” “Why is it that India,…

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President Donald Trump has said US’ massive trade deficit with China cannot be allowed to continue, a day after the officials from both countries concluded their latest round of negotiations on trade issues.The US and China have been locked in an escalating trade spat since early 2018, raising import tariffs on each other’s goods.Last year, Trump imposed tariff hikes of up to 25 per cent on USD 250 billion of Chinese goods. The move prompted China to increase tariffs on USD 110 billion of American goods.Trump, who has been accusing…

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Benchmark equity indices held on to gains Friday morning even as the Budget overshot the fiscal deficit target for the current financial year.The 30-share BSE Sensex was trading 157.10 points, or 0.43 per cent, higher at 36,413.79. Similarly, the 50-share NSE Nifty rose 43.25, or 0.40 per cent, to 10,874.20.Presenting the budget for 2019-20, Finance Minister Piyush Goyal said the fiscal deficit for the current financial year is expected to be 3.4 per cent of GDP. As per the Budget estimate, the fiscal deficit for 2018-19 was pegged at 3.3…

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The BSE benchmark Sensex Thursday rallied over 200 points on positive cues from global markets after dovish comments by the US Federal Reserve as it left key policy rates unchanged.The 30-share index was trading 213.32 points, or 0.60 per cent, higher at 35,804.57.Similarly, the 50-share NSE Nifty jumped 53.95 points, or 0.51 per cent, to 10,705.75.On Wednesday, the Sensex ended marginally lower by 1.25 points and the Nifty closed with a negligible loss of 0.4 point.Top gainers in the Sensex pack include ICICI Bank, RIL, Tata Steel, SBI, Tata Motors,…

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Sebi has proposed a new set of framework for REITs and InvITs in order to provide flexibility to the issuers in terms of fund raising and increasing the access of these investment vehicles to investors.Under the proposal, minimum allotment and trading lot for publicly issued REITs (Real Estate Investment Trusts) and InvITs (Infrastructure Investment Trusts) will be reduced. Besides, it has been proposed that the leverage limit for InvITs will be increased from existing 49 per cent to 70 per cent.Sebi had notified REITs Regulations in 2014, allowing setting up and…

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Acknowledging its made-in-India status, the Indian Railways has named the indigenously manufactured Train 18 as Vande Bharat Express, Railway Minister Piyush Goyal said Sunday. The train is set to run between Delhi and Varanasi at a maximum speed of 160kmph. Prime Minister Narendra Modi is likely to flag off the train soon. The 16-coach train, built in 18 months at a cost of Rs 97 crore by the Integral Coach Factory, Chennai, is regarded as a successor to the 30-year-old Shatabdi Express. It’s also the first locomotive-less train in the…

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