2013 foreign currency non-resident deposits to mature in Sep-Nov
When top class fashion melded with high voltage fun!
The 30-share Sensex ended 50 points lower at 28,112 and the 50-share Nifty declined 12 points to close at 8,531.
The company's net profit went up 27% in December quarter, sequentially better than peers; core IT services up 33%..
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%.
Jelena Jankovic beat the Indian teenager 6-2, 7-6 (3) in the first round of the LA Open.
"The world record is very possible this year. I just have to execute it," the Olympic 100 metres champion said.
Taylor Swift's new revenge song shattered YouTube records and beat the Despacito remix, which was about sex.
The 30-share Sensex ended down 71 points at 26,710 and the 50-share Nifty lost 38 points to close at 8,030.
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.
Images from Day 9 of the 2020 Australian Open in Melbourne on Tuesday.
Films that amazed Aseem Chhabra at the El Gouna Film Festival in Egypt.
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.
Honeypreet is the only woman in the 'wanted' list.
Summary of sports events and persons who made news on Sunday
Angel Di Maria scored in the dying minutes of extra-time to give Argentina a 1-0 victory over Switzerland and a place in the last eight of the World Cup in Sao Paulo on Tuesday.
The German beat fellow countryman Nicolas Kiefer in the Mercedes-Benz Cup final in Los Angeles.
Images from the action on Day 2 at the Australian Open.
Index heavyweights Reliance Industries, HDFC and Infosys were the top Sensex gainers.
Cristiano Ronaldo helped Juventus continue their unbeaten start to the Serie A season with a comfortable 2-0 home victory over struggling SPAL on Saturday.
Atletico Madrid substitute goalkeeper Antonio Adan saved three penalties before blasting home the winning spot-kick as the Europa League champions edged out Arsenal after the sides drew 1-1 in their International Champions Cup opener in Singapore on Thursday.
Given their growth prospects and reasonable valuations, Mindtree, Hexaware and NIIT remain top picks of most analysts.
Rookie New Orleans Pelicans basketball player Bryce Dejean-Jones died after being shot early on Saturday when he broke into a Dallas apartment, authorities said.
Shivalika Patel tells us how she got married to her school sweetheart.
Delhi-based Riticka Srivastav is bringing a smile on people's faces with her second-hand books.
Nine companies incubating at StartupVillage have made it to the second round of Nasscoms flagship programme to support 10,000 technology startups across India.
News of all that's transpired on and off the football field
Real Madrid's La Liga title bid took a dent after Zinedine Zidane's leaders were held to a 2-2 draw at home to Celta Vigo on Sunday, denied all three points by a late strike from Santi Mina. Lazio mounted a superb second-half comeback at the Olympic Stadium to beat Inter Milan 2-1 and move above Antonio Conte's side into second place in Serie A on Sunday.
Summary of sports events and persons who made news on Saturday
News of all that transpired on and off the football field.
Atletico Madrid goalkeeper Jan Oblak was the hero as the Spanish side reached the UEFA Champions League quarter-finals for the fourth year in a row after drawing 0-0 with Bayer Leverkusen in an open last-16 second leg.
Acreage of these crops is likely to fall as prices drop below MSP in mandis; area under cotton, maize may increase on better realisation
SBI remains a favourite of most brokerages in the PSB segment.
Barcelona have completed their business in the latest transfer window and the Spanish and European champions' squad is now "closed", president Josep Bartomeu said on Thursday.
Floyd died in Minneapolis on Monday after a white police officer pinned him to the ground. Video footage showed the officer kneeling on Floyd's neck as he gasped for breath. His death has triggered nationwide protests.
Roger Martinez scored an outstanding goal as Colombia beat Argentina 2-0 in an exciting finale to a Copa America Group B opener on Saturday that burst into life after a sluggish start.
Angel Di Maria delivered a near-perfect performance, scoring two and setting up another as runaway leaders Paris St Germain beat 10-man Olympique de Marseille 3-1 at home on Sunday.
Atletico Madrid's players will not allow praise to go to their heads even though they are level on points with Barcelona at the top of La Liga, coach Diego Simeone has said.
Second half goals from Presnel Kimpembe and Kylian Mbappe gave the impressive French side a clear advantage ahead of the return in Paris on March 6.
Lionel Messi dragged a nervous Barcelona to a 1-0 win at home to Levante in La Liga, while Cristiano Ronaldo converted two late penalties on his 100th appearance for Juventus in all competitions as the Serie A titleholders ground out a 3-1 win away to a dogged Genoa side.
