Monday, November 19, 2018
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Sensex rises over 150 pts ahead of RBI board meet
Positive leads from other Asian markets, too, influenced sentiments here.

Sensex rises over 150 pts ahead of RBI board meet

19 Nov 2018 | 10:01 AM

MUMBAI: The benchmark BSE Sensex surged over 150 points and the broader NSE Nifty went past the 10,700 mark in opening trade on Monday on the back of widespread gains ahead of the Reserve Bank of India’s board meet amid capital inflows by foreign funds.

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Mumbai, November 19

The benchmark BSE Sensex surged over 150 points and the broader NSE Nifty went past the 10,700 mark in opening trade on 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.

The barometer had gained 315.17 points in the previous two sessions.

Similarly, the NSE Nifty was up 43.10 points, or 0.40 per cent, at 10,725.30 points.

Investors are awaiting cues from the Reserve Bank of India’s board meet later in the day.

Finance Ministry nominees and some independent directors are expected to take on Governor Urjit Patel and his team later in the day over issues ranging from micro, small and medium enterprises (MSME) credit to the central bank’s reserves, though both sides are in favour of reaching a common ground.

Brokers said besides capital inflows from foreign funds, positive cues from other Asian markets, tracking weekend gains at Wall Street after US President Donald Trump said he might not impose more tariffs on Chinese goods after Beijing sent a list of measures it was willing to take resolve trade tensions, buoyed the sentiment.

Major gainers were Yes Bank, Infosys, M&M, Hero MotoCorp, RIL, HDFC Bank, HDFC, Sun Pharma, Maruti Suzuki, Tata Steel, Wipro, L&T, Vedanta, TCS, ICICI Bank, Coal India, ITC, PowerGrid, HUL and Bajaj Auto, gaining up to 4.29 per cent.

Top losers include Bharti Airtel, Axis Bank, Wipro, Asian Paints, ICICI Bank and Adani Ports, falling up to 1.30 per cent.

Meanwhile, foreign institutional investors (FIIs) bought shares worth Rs 844.82 crore on Friday, while domestic institutional investors (DIIs) sold shares worth Rs 372.24 crore, provisional data showed.

Elsewhere in Asia, Japan’s Nikkei rose 0.50 per cent, Korea’s KOSPI gained 0.21 per cent, Shanghai Composite Index was up 0.22 per cent and Hong Kong’s Hang Seng edged higher by 0.24 per cent.

The US Dow Jones Industrial Average ended 0.49 per cent higher on Friday. PTI

Rupee sheds 9 paise against US dollar

Rupee sheds 9 paise against US dollar

19 Nov 2018 | 10:08 AM

MUMBAI: The rupee depreciated by 9 paise to 72.02 against the US dollar in early trade on Monday at the interbank foreign exchange, halting its four-day winning streak, ahead of the RBI’s board meet.

tax advice

Interest on NRO account taxable in India

19 Nov 2018 | 12:04 AM

Q. My son, who left India for Kuwait in 2014, has a PPF account since 2007. After his two years of stay in Kuwait, he got the PR of Canada and went there along with his family in 2016. We (the parents) are depositing some amount in his PPF account regularly.

FPIs invest over USD 1 bn in Nov so far on easing oil prices, rupee recovery

18 Nov 2018 | 12:14 PM

NEW DELHI: Foreign investors have pumped in nearly Rs 8,285 crore into the Indian capital markets so far this month, after pulling out hefty funds in October, due to fall in crude oil prices, recovery in rupee and improvement in the liquidity situation.

State-owned banks’ losses widened nearly 3.5 times in Jul-Sept quarter

State-owned banks’ losses widened nearly 3.5 times in Jul-Sept quarter

18 Nov 2018 | 12:13 PM

NEW DELHI: State-owned banks saw their cumulative losses widen nearly three-and-a-half times to Rs 14,716.2 crore in the July-September quarter of the current fiscal due to mounting bad loans.

BSE to part ways with S&P Dow Jones; plans to develop its own indices

18 Nov 2018 | 11:31 AM

NEW DELHI: Asia's oldest bourse BSE has decided to snap ties with S&P Dow Jones, which manages and operates benchmark Sensex, and plans to develop indices through its own in-house development team, exchange's officials said.

Finance Secretary Hasmukh Adhia to retire on Nov 30

17 Nov 2018 | 3:02 PM

NEW DELHI: Finance Secretary Hasmukh Adhia would retire on November 30, Finance Minister Arun Jaitley said on Saturday.

Oracle veteran Thomas Kurian to head Google Cloud

Oracle veteran Thomas Kurian to head Google Cloud

17 Nov 2018 | 2:42 PM

NEW DELHI: Oracle's ex-product chief Thomas Kurian will head Google's cloud division, replacing Diane Greene.

Gold rebounds on wedding season buying, global cues

Gold rebounds on wedding season buying, global cues

17 Nov 2018 | 2:28 PM

NEW DELHI: Gold prices spurted by Rs 135 to Rs 32,150 per 10 grams at the bullion market on Saturday on wedding season demand amid a firm trend overseas.

Strengthening rupee stymies M’rashtra sugar export plans

Strengthening rupee stymies M’rashtra sugar export plans

17 Nov 2018 | 12:50 AM

MUMBAI:In just over a month, Maharashtra’s sugar mills have swung from hope to despair as a strengthening rupee and slower-than-expected rise in international sugar prices have stymied their plans to hit the global markets.

Freight surcharge a bolt from the blue for Punjab industry

Freight surcharge a bolt from the blue for Punjab industry

17 Nov 2018 | 12:50 AM

JALANDHAR: The state government’s move to impose surcharge on freight has come as a bolt from the blue for small and medium enterprises (SMEs) of land-locked Punjab, particularly, Jalandhar, which is on the verge of extinction because of several cost disadvantages.

Dieselgate: VW fined Rs100 cr by NGT

17 Nov 2018 | 12:50 AM

NEW DELHI: The National Green Tribunal today directed Volkswagen to deposit an interim amount of Rs 100 crore with the CPCB in a case related to allegations against the German auto major for using ‘cheat device’ in emission tests of its diesel vehicles.

Tatas: Talks with Jet only preliminary

17 Nov 2018 | 12:50 AM

MUMBAI: Tata Sons today said it has not made any concrete proposal for taking over Jet Airways, and that it has held only “preliminary” discussions on the matter.

All telcos, barring Reliance Jio, fail TRAI’s call benchmark

All telcos, barring Reliance Jio, fail TRAI’s call benchmark

16 Nov 2018 | 10:40 PM

NEW DELHI: All telecom operators, barring Reliance Jio, failed to meet call benchmark in drive test conducted by sector regulator TRAI on different highway and rail routes, says a report.

Myntra, Jabong to merge; Ananth Narayanan stays CEO

Myntra, Jabong to merge; Ananth Narayanan stays CEO

16 Nov 2018 | 5:37 PM

MUMBAI: Online fashion retailer Myntra on Friday said it will completely integrate its sister company Jabong, which will continue to operate as a separate brand.

Sensex, Nifty end higher for 2nd session on strong fund inflow, firm rupee

Sensex, Nifty end higher for 2nd session on strong fund inflow, firm rupee

16 Nov 2018 | 4:58 PM

MUMBAI: The BSE Sensex on Friday continued its rising streak for the second day to end at near a four-week high of 35,436.33, fuelled by gains in Reliance Industries, Bharti Airtel and other bluechips amid continued foreign fund inflows and strengthening rupee.

Over 6 mn '8X' smartphones sold globally: Honor

Over 6 mn '8X' smartphones sold globally: Honor

16 Nov 2018 | 3:20 PM

NEW DELHI: Chinese smartphone maker Huawei's online focused sub-brand Honor on Friday announced that it sold over 6 million units of the recently launched "Honor 8X" globally, becoming the top "Singles Day" performer in terms of sales volume and revenue under the smartphone category.

Mercedes-Benz launches new CLS; price starts at Rs 84.7 lakh

Mercedes-Benz launches new CLS; price starts at Rs 84.7 lakh

16 Nov 2018 | 2:23 PM

NEW DELHI: German luxury carmaker Mercedes-Benz on Friday launched new CLS model with a starting price of Rs 84.70 lakh (ex-showroom, all India).

Gold falls on muted demand; silver steady

Gold falls on muted demand; silver steady

16 Nov 2018 | 2:19 PM

NEW DELHI: Gold fell by Rs 235 to Rs 32,015 per 10 gram at the bullion market on Friday on muted demand from local jewellers amid appreciating rupee.

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