Category: BUSINESS

The BSE Sensex rose for the third straight session Wednesday, gaining over 200 points on short-covering ahead of November derivatives expiry and positive global cues amid rising hopes of a trade deal between the US and China.In similar movement, the broader NSE Nifty reclaimed the 10,700 level.The 30-share Sensex settled 203.81 points, or 0.57 per cent, higher at 35,716.95, while the broader NSE Nifty jumped 43.25 points, or 0.40 per cent, to finish at 10,728.85.According to analysts, positive global market and short-covering ahead of November future and options (F&O) expiry…

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The BSE benchmark Sensex rose for the second day, gaining over 150 points on hectic buying in banking and IT stocks as easing concerns on the macro-economic front bolstered investors’ risk appetite.The broader NSE Nifty too witnessed a rise of 57 points.Market sentiments were boosted by a host of positive factors including stable rupee, falling crude oil prices, subdued retail inflation and steps to improve liquidity situations.Both equity benchmarks Sensex and Nifty smartly recovered from day’s low towards the fag-end of the session, but global trade tensions ahead of G20…

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Snapping its seven-day rising streak, the rupee Monday fell by 18 paise to close at 70.87 against the US dollar amid softening crude oil prices.The domestic currency had gained a healthy 220 paise in the last seven trading sessions.At the Interbank Foreign Exchange (forex), the rupee opened on a firm note at 70.48 against the US dollar. It gained further ground to hit a high of 70.30, following dollar selling by exporters.The local unit, however, pared the initial gains and finally settled the day at 70.87 to the US dollar,…

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The Reserve Bank will hold the rates for the remainder of the fiscal year ending March 2019 and is likely to go for “measured hikes” in FY20 as inflation inches up, Singaporean lender DBS has said.Decision on rates will be majorly influenced by the movement in oil prices and also the currency, which were termed as “wildcards” by its house economists.In a report that comes days after the headline inflation print eased to a surprising 3.31 per cent for October, the lender lowered its consumer price inflation (CPI) expectations for…

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The insolvency law has helped in directly and indirectly addressing stressed assets worth Rs 3 lakh crore in the last two years, a senior government official said Saturday. More than 9,000 cases have come for redressal under the Insolvency and Bankruptcy Code (IBC), which became fully operational in December 2016.Corporate Affairs Secretary Injeti Srinivas said there has been a direct and indirect impact of the Code on stressed assets worth close to Rs 3 lakh crore.The estimated amount, included recoveries made through resolution plans and cases settled before admission by…

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Almost two decades after the collapse of US giant Enron in a notorious accounting scandal, the accountancy sector is back in the spotlight, this time thanks to a string of scandals in Britain.The sector’s so-called “Big Four” — Deloitte, EY, KPMG and PwC — have a long-established oligopoly to advise and monitor big business, experts say.The powerful companies engage in a wide range of activities, from accounts auditing and strategy consulting to proposed mergers and acquisitions, restructuring and taxation. However, a series of high-profile corporate collapses in Britain — including…

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The benchmark BSE Sensex fell over 100 points in early session Tuesday, breaking its three-day winning run as metal, IT, realty and banking stocks retreated, tracking sell-off in the global market.The 30-share index dropped 104.41 points, or 0.29 per cent, to 35,670.47 points in opening trade. The gauge had rallied about 633 points in the previous three sessions.The NSE Nifty too fell 36.80 points, or 0.33 per cent, to 10,726.60.Brokers said besides a weak trend at other Asian markets amid sharp losses at the Wall Street, profit-booking by investors in…

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Mumbai, Nov 19 (DIN NEWS) The benchmark BSE Sensex surged over 150 points and the broader NSE Nifty went past the 10,700 mark in opening trade Monday on the back of widespread gains ahead of the Reserve Bank of India’s board meet amid capital inflows by foreign funds. Positive leads from other Asian markets too influenced sentiments here. The 30-share index was trading 190.81 points, or 0.54 per cent, higher at 35,647.61 points. Sectoral indices, led by realty, metal, auto, IT indices and bankex, advanced up to 1.44 per cent.…

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Mumbai, Nov 18 (DIN NEWS) While a debate is going on whether the RBI should do more to ease credit to MSMEs, banking officials said the central bank has provided special training to nearly 11,000 officers at various commercial banks on lending to micro, small and medium enterprises. This training has been provided to officers working at nearly 3,000 bank branches covering all districts in India through more than 2,000 special workshops in the last three years, the officials said. These are mostly specialised bank branches catering to the MSME…

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