The S&P BSE Sensex ended 46 points lower at 24,824 and Nifty50 settled at 7,555, down by 8 points after hitting intra-day high of 7,600.45.
Pharma shares extended losses after the government's ban on combination drugs.
The fuel reforms are a very important signal of the government's commitment to tough economic reforms.
In New York market, the dollar was little changed against major rivals yesterday as investors continued to comb through economic data and speeches from central bank officials to get a better sense of when the Federal Reserve could begin to raise interest rates.
Busting a major 'front running' case in the stock market, Sebi on Friday ordered impounding of unlawful gains worth nearly Rs 15 crore (Rs 150 million) from brokerage firm Sharekhan and 15 other entities.
A leave vote means the future of Britain's financial services industry is now hanging in the balance.
Analysts mostly prefer domestic plays beside select films with foreign exposure.
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The Reserve Bank is scheduled to unveil its first quarter review of the monetary policy on July 30.
Anil Divan, who is fighting the black money case in the Supreme Court, speaks to Sheela Bhatt/Rediff.com.
In an online chat with readers on October 14, Anil Rego answered their credit card queries.
Investors watch out for cues from the on-going winter session of the Parliament.
The 30-share Sensex ended down 538 points at 26,781 and 50-share Nifty ended down 152 points at 8,067.
Delaying action on climate change will hurt growth: Global CEOs.
Earlier, Arun Jaitley had said 60 prosecutions had been launched on the 'HSBC list'.
The long-term sustainability of the ongoing market rally is difficult as earnings growth remains a challenge, says Herald Van Der Linde, head of equity strategy, Asia-Pacific, at HSBC.
The Swiss National Bank, the country's central banking authority, has estimated the funds currently held by Indians in Swiss banks at a mere $1.98 billion. Fear of disclosure due to greater scrutiny of this illicit wealth has played the main role in the flight of capital.
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%.
EPFO manages a huge corpus of over Rs 6 lakh crore (Rs 6 trillion).
Markets have gone into a tailspin, the Modi govt must revive investment sentiment.
Reliance announced energy asset sales worth around $ 16 billion; end of the investment cycle in telecom; bringing net-debt to zero in 18 months; value-unlocking options for real estate and financial assets; listing of telecom and retail in five years; and focus on dividends.
The Sensex closed the day at 27,490, higher by 479 points and the Nifty ended at 8331.95, up 150.45 points.
Analysts say markets to be impacted by monsoon, inflation trajectory.
Most analysts expect the note ban to sharply hit GVA growth in Q3 and Q4, and the central bank's stance is being called into question.
Custodian banks are selling dollars for their foreign fund clients.
The wide-based NSE sensitive index is currently hovering around 7,900.
ONGC, Sesa Sterlite, Tata Steel, RIL and HDFC emerged as the biggest losers
The 30-share Sensex ended down 30.30 points at 28,161.72 and the 50-share Nifty dipped 7.95 points at 8,543.
The 30-share Sensex ended down 35 points at 26,349 and the 50-share Nifty ended down 20 points at 7,864.
Competitive price will face stiff challenge from incumbents such as DD Free Dish
The introduction of GST would constitute India's biggest reform.
Pune saw the fastest growth in terms of number of super-rich people.
Experts caution against tough times in Indian equity markets in 2015.
Beyond the macro data, there has been little enquiry into the profile of the indebted farmer households, says Shailesh Dobhal.
British Prime Minister Theresa May will be in India tomorrow, but Cyrus Mistry will no longer head the Indo-UK CEO forum.
Identity of 427 account holders abroad has been established and 250 of them have admitted to having accounts, Finance Minister Arun Jaitley revealed on Wednesday.
US crude was down 25 cents at $52.08.
India has been probing hundreds of black money cases.
The Sensex ended below 28,000 for the second straight day at 27,869.
The Sensex ended down 134 points at 28,559 and the Nifty ended 35 points lower at 8,554
Any change in rates would mean more volatility; else, poll outcome-fuelled rally expected to continue.
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