Russia's central bank early on Tuesday raised interest rates to 17 per cent to counter the 50 per cent rouble fall in six months.
Dr Reddy's gets warning from US health regulator
Paris Saint Germain's Neymar, Laywin Kurzawa and Leandro Paredes as well as Marseille's duo of Dario Benedetto and Jordan Amavi were given their marching orders after rival players threw punches and kicks at each other.
In spite of the high number of exits, Reliance group firms of both brothers continue to be darlings of small investors
Experts feel select companies in banking, automobiles, financial services & real estate will gain from lower interest rates
Juventus substitute Cristiano Ronaldo was denied a stoppage-time winner by VAR as Udinese came from two goals down to snatch a 2-2 draw in their thrilling Serie A season opener on Sunday.
The government will decide in August whether to sell a 5 percent stake in ONGC, a senior oil ministry official said, in a deal that would be worth $2.9 billion at current market prices.
Growth concerns on China, which has already seen the yuan getting devalued twice in August, have rattled global financial markets, including that of India.
Sam Querrey reached his third consecutive ATP final by upsetting top-seeded German Tommy Haas 6-3 7-5 at the LA Open on Saturday.
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Since April 1, promoters of Jaiprakash Associates have released more than 225 million Jaiprakash Power Ventures shares (valued at Rs 425 crore) pledged with lenders.
With 28 Grammy wins in total, Beyonce breaks the record set by veteran singer Alison Krauss.
Except for liquidity, which could act in favour or against the market in the short term, most market participants are bullish.
A stunning goal from Angel Di Maria enabled the defending champions beat Nigeria 1-0 in Saturday's final at the Beijing Olympics.
A summary of sports events and persons who made news on Monday
Analysts were expecting the government to propose higher capital infusion for banks.
Bayern Munich won the Champions League for a sixth time by beating Paris St Germain 1-0 in Sunday's final
A lower base could be part of the explanation but not all.
No one can fault India Inc for not taking care of shareholders; in fact, it has been extra generous.
Films that amazed Aseem Chhabra at the El Gouna Film Festival in Egypt.
Ranbaxy, which is 63.5 per cent-owned by Japan's Daiichi Sankyo Co and gets more than 40 per cent of its sales from the United States, did not immediately respond to a request on Wednesday for comment on the FDA observations.
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Since the cash flows will be impacted in a big way, DLF will have to resort to selling non-core assets in a substantial and significant manner through the next few quarters.
Marat Safin began his bid to end a title drought dating back almost two years with a 6-3, 6-4 win over American John Isner at the Los Angeles Classic.
Russian third seed Dmitry Tursunov won his second career title with a 6-4 7-5 victory over Frank Dancevic of Canada at the Indianapolis championship on Sunday.
TCS, Infosys and others are banking on automation to protect their turf in the US, but building a successful revenue model around it may prove difficult
Canadian model Raquel Bettencourt says she can never forget the late artiste.
The ace golfer had to settle for a card of five-over 75 to be tied 77th after the opening round of the US Open.
Atletico Madrid have signed striker Luis Suarez from Barcelona, the Spanish clubs said on Wednesday, bringing to an end his six-year stint at the Camp Nou.
When top class fashion melded with high voltage fun!
Images from the action on Day 2 at the Australian Open.
The oralcare major has kept its ears firmly to the ground, pushing products into the hinterland and is holding fort in urban India with innovation for continued volume growth.
Images from Day 9 of the 2020 Australian Open in Melbourne on Tuesday.
Maria Sharapova beat Marion Bartoli 6-1, 6-2 to book a place in the Los Angeles Open quarter-finals.
Experts tell you about the stocks to buy and those to run from...
2013 foreign currency non-resident deposits to mature in Sep-Nov
American Zack Fleishman produced the biggest upset of the Los Angeles Classic when he knocked out top seed Fernando Gonzalez of Chile 7-6, 6-4 in the opening round on Tuesday.
Taylor Swift's new revenge song shattered YouTube records and beat the Despacito remix, which was about sex.
The 30-share Sensex ended 50 points lower at 28,112 and the 50-share Nifty declined 12 points to close at 8,531.
At one stage Yuki was a break up, serving for the opening set but lost his serve and eventually the set. After drawing parity, Yuki twice lost his serve to fall behind 0-3 in the decisive set and never recovered.
Benchmark indices failed to sustain gains and retreated from day's high dragged primarily by the losses in metals, information technology and bank shares as investors started to book profits in late noon deals. Earlier, markets had scaled fresh all-time highs on the surprise post-budget rate cut by Reserve Bank of India (RBI). The 30-share Sensex ended down 213 points at 29,380 and the 50-share Nifty closed down 74 points at 8,922. Intra-day, Sensex reached the all-time high mark of 30,024.74 while Nifty touched the life-time high level of 9,119.20. In the broader market, both the BSE Midcap index and Smallcap indices, down 1% and 1.2% each underperformed the front-liners. Market breadth in BSE ended negative with 1,882 declines against 1,010 advances. A day after signing an agreement with Finance Ministry on inflation targeting, RBI surprised the markets with an early post-budget repo rate cut of 25 bps (basis points) to 7.5% from 7.75% which was again outside of central bank's scheduled policy review meetings as the earlier rate cut effected on January 15. "RBI's latest rate cut of 25 basis points, while a surprise in its timing is in-line with our expectations of a sharp rate-cutting cycle over the coming quarters. With inflation sustainably lower by 500bps, the RBI has in recent months acknowledged the scope for rate cuts and was only waiting for additional comfort that the government's fiscal policy would not play spoil-sport," said Dinesh Thakkar, chairman and managing director at Angel Broking in a note. Analysts at Karvy believe that further monetary policy action will depend on number of factors including easing of supply constraints, improved availability of power, land, minerals and infrastructure, fiscal consolidation, the pass through of rate cuts by banks and the expected monsoon. Citing weakness in some sectors of the economy and the overall global trend towards monetary easing as rationale for the rate cut the central bank also exuded confidence in the road map for fiscal consolidation as laid out in the Union Budget, 2015. Commenting on how the markets reacted to RBI's surprise move, K Subramanyam assistant vice-president (institutional research), Asit C. Mehta Securities said, "The unexpected cut did take the market by surprise .However, credit off-take is not dependant only on interest rates. A gradual revival in the economy would be of more help which would trigger credit off-take. Hopefully this will follow and RBI's action would prove helpful. From market point of view this is bullish as equity becomes more attractive vis-a-vis falling interest rates." On the macro-economic front, the HSBC services PMI rose to an eight-month high of 53.9 in February up from 52.4 in January indicating strong expansion in output across the sector. Respondents cited robust growth of new business as the principle factor for the increase in activity. Meanwhile, foreign portfolio investors (FPIs) bought shares worth a net Rs 773 crore on Tuesday, as per provisional data. Buzzing Stocks 9 out of the 12 sectoral indices of BSE ended in red. BSE Metal index, down 2.4% was the top loser followed by BSE Oil & Gas and Power indices, down 1.3% each. BSE Healthcare index, up 1.2% and BSE FMCG index, up 0.9% were the top losers. Bank stocks came under during late noon trades as traders booked profits at higher levels. However, RBI rate cut may encourage large lenders to cut their lending rates boosting demand for home and auto loans and provide funds for various stalled and new projects. Many stalled projects across the country are waiting for cash to restart work. The stock of stalled projects at the end of December 2014 stood at Rs 8.8 lakh crore or 7% of GDP. ICICI Bank ended down 0.1%, Axis Bank and SBI declined over 3% and HDFC Bank shed 1.5%. Sun Pharma gained over 6% on approval granted to Sun Pharma Advanced Research Company (SPARC) by US FDA for an antiepileptic drug. The product will be manufactured by Sun Pharmaceutical Industries at its Halol (Gujarat) facility in India. SPARC was formed in 2007 when Sun Pharma separated out its active projects in drug discovery and innovation into a new company. Dr Reddys Lab and Cipla have gained over 1% each. ITC gained over 1% after consecutive sessions of losses on the proposed larger-than-expected hike in excise duty on cigarettes in the Union Budget. The biggest ever auction of spectrum by the Department of Telecommunications (DoT) started on Wednesday in the morning where government expects to garner Rs 80,000-1lakh crore from the sale of spectrum. Idea Cellular gained over 2%, Reliance Communication gained around 1% and Bharti Airtel closed 0.5% higher. Metal stocks were under pressure in today's session. Hindalco declined over 3%, Sesa Sterliteended down over 4% and Tata Steel closed down 2%. Profit-taking in IT stocks led to Wipro losing around 1.8%, Infosys declining 0.7% and TCS losing 1.5%.
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