SBI was the top gainer in the Sensex pack, jumping around 3 per cent, followed by Kotak Bank, Axis Bank, Bajaj Auto, Tech Mahindra, UltraTech Cement and PowerGrid. NSE Nifty rose 36.40 points to 15,337.85.
A declining rupee, elevated crude oil prices and sustained foreign fund outflows added to the gloom
Reliance was the top gainer in the Sensex pack, surging over 3 per cent, followed by ICICI Bank, Bharti Airtel, Dr Reddy, Maruti and ITC.
Markets finished the session on a dismal note with Sensex closing at its lowest level since August 2014.
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'If the new rate is lower than your current rate, ask your bank to shift you to it.' 'This can be done by paying a fee of Rs 5,000 to Rs 6,000.'
The central government's deposits with the RBI had fallen to just Rs 100 crore as of June 8.
HDFC Equity, the largest equity fund, also managed by Prashant Jain, with a corpus of Rs 10,445 crore, has 9.4 per cent of its assets in SBI.
The Sensex ended 290 points higher at 29,095 mark and the Nifty gained 94 points to close at 8,806 levels.
How should you, as a consumer, be prepared for a rate cut, if any? Read on to find out more.
Sensex eneded lower on poor perfromance by financials and IT stocks.
In absolute terms, the year closed with the market capitalisation of all BSE-listed companies rising by Rs 45.5 lakh crore to Rs 152 lakh crore, or an increase of 42.8 per cent, compared to the closing value on December 30, 2016, says Pavan Burugula.
Financials declined amid profit taking while energy shares fell after the government hiked excise duty on transport fuels.
Brokers said a flurry of buying by investors in blue-chips mainly influenced the sentiment.
The higher rate cut by RBI is positive for rate-sensitive sectors in the medium to long term.
Corporate revenues will decline for a third consecutive quarter in March on a YoY basis - one of the worst shows by these companies in many years.
the Sensex lost 23 points to close at 28,185 levels and the Nifty shed 7 points to end at 8,515 mark.
Indian markets ended on a lower note after the stimulus announced by the European Central Bank (ECB) failed to meet expectation.
The Nifty and Bank Nifty ended at record closing high of 7,913 and 15,865 respectively.
Sensex remained volatile through the day.
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