Nestle India was the top loser in the Sensex pack, shedding 2.20 per cent, on its first day as part of the index.
Budget 2015 has blessed the banking sector.
'A bold, progressive step forward,' Kotak Mahindra Bank CEO Uday Kotak said of Nirmala Sitharaman's corporate tax breaks.
The RBI has agreed to consider the application of India Post in consultation with the government.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Bajaj Finance was the top loser in the Sensex pack, tanking over 10 per cent, followed by Axis Bank, Maruti, M&M, Tech Mahindra and ONGC. The gainers included ITC, Bharti Airtel, Kotak Bank and Hero MotoCorp.
That's the only way to convince those who have money to return to the bank fold, ditching other asset classes, says Tamal Bandyopadhyay.
Kotak Bank was the top loser in the Sensex pack, falling around 3 per cent, followed by Axis Bank, Sun Pharma, HDFC Bank, Bajaj Finance and Asian Paints. On the other hand, ONGC, PowerGrid and IndusInd Bank were the gainers.
Yes Bank led the laggard's list on the Sensex with a nearly 10 per cent drop after Moody's Investors Service downgraded the private sector lender's ratings. Other top losers were SBI, IndusInd Bank, Tata Motors, Mahindra and Mahindra and HDFC.
RIL was among the top gainers in the Sensex pack, jumping over 3 per cent to hit its record closing high. Tech Mahindra, HCL Tech, Bharti Airtel, Infosys, HUL and ITC were also among the prominent gainers.
As the government plans to take sector-specific steps to tackle the slump, Finance minister Nirmala Sitharaman will soon hold talks with representatives from various sectors to get and take steps so that the confidence of those sectors can be restored.
M&M was the top laggard in the Sensex pack, cracking over 7 per cent, after the home-grown auto major on Saturday reported 73 per cent decline in consolidated quarterly net profit.
Market benchmark Sensex tumbled over 323 points after an intense last-hour sell-off on Wednesday, triggered by losses mainly in index heavyweights Infosys, Reliance and HDFC.
The view among the regulator and the government is that the currency is overvalued
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The RBI has accepted the application withdrawal request, according to the statement.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
HCL Tech was the top loser in the Sensex pack, skidding over 4 per cent, followed by Tech Mahindra Dr Reddy's, Wipro, TCS, Titan and Infosys. NSE Nifty plunged 167.80 points to 17,110.15.
Top gainers in the Sensex pack included Vedanta, Tata Steel, Yes Bank, Tech Mahindra, Hero MotoCorp, Bharti Airtel, SBI and Bajaj Finance and IndusInd Bank, which rose up to 4.83 per cent.
The most common complaint of financial consumers is cumbersome processes, complicated products, usurious charges, and mis-selling of products, which finally don't deliver what is promised or as expect, notes Debashis Basu.
Based on this screening, the committee may weed out applications that do not meet the eligibility yardstick or the 'fit and proper' criteria for securing a licence.
A parliamentary panel on Friday opposed the new bank licences to corporate houses and voiced concerns over the discretionary power vested with RBI for applying 'fit and proper' criteria for deciding on applications.
'If the Union Budget can provide incentives for animal spirits to come as well as induce demand stimulus and consumption, the Budget would have done a wonderful job.'
He noted that the Rupee has firmed recently but cautioned that the currency should not lose its competitiveness in global trade.
HCL Tech was the top gainer in the Sensex pack, rallying around 5 per cent, followed by Tech Mahindra, Infosys, PowerGrid, Sun Pharma, L&T and Nestle India. NSE Nifty climbed 137.90 points or 1.03 per cent to 13,466.30.
The broader NSE Nifty reclaimed the 11,600 level, zooming 326 points or 2.9 per cent to settle at 11,600.20. Top gainers in the Sensex pack included Bajaj Finance, L&T, Asian Paints, ITC, Axis Bank, Kotak Bank, ICICI Bank, HDFC twins, Maruti and SBI, rallying up to 8.70 per cent.
Reliance Capital, the financial services arm of Anil Ambani-led Reliance Group, has also listed several other concerns with regard to MXC deal.
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With the 50 bps rate cut now more banks are expected to reduce their base rate.
Tata Steel was the top loser in the Sensex pack, shedding over 2 per cent, followed by Sun Pharma, ICICI Bank, SBI, Kotak Bank and Dr Reddy's. NSE Nifty dropped 151.75 points to 15,727.90.
The actual expenditure will only be marginally higher and hence, the multiplier effect will be muted.
The Reserve Bank on Wednesday said it plans to issue new bank licences around January, "consistent with the highest standards of transparency and diligence."
IndusInd Bank, Kotak Bank, ICICI Bank, Sun Pharma, Bajaj Finance and Ultratech Cement were prominent gainers. NSE Nifty rose 176.65 points to 14,867.35.
The Reserve Bank on Friday accepted most of the recommendations of its working group on corporate ownership of private sector banks, by allowing unrestrained promoter shareholding in the first five years of operations and hiking the same to 26 per cent after 15 years from the extant 15 per cent and also the new capital requirements. The move will benefit leading banks like Kotak Mahindra Bank and IndusInd Bank, among others, which have been seeking more time from the regulator to divest their stakes for many years now. Accepting 21 of the 33 recommendations of the internal working group, the central bank said the remaining suggestions are under its consideration.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The race to get a New Umbrella Entity (NUE) licence for digital payments may get crowded. As many as six consortiums are said to be in the fray to apply for an NUE licence, which would create a for-profit National Payments Corporation of India (NPCI)-like body for retail payments. A consortium led by Financial Software and Systems (FSS), a leading provider of payment products and payment processor, is in talks and may file an application to the RBI for an NUE license, said sources aware of the development. The other constituents of this group include Indian Bank, Central Bank of India, India Post Payments Bank, National Bank for Agriculture and Rural Development (Nabard), and a few small finance banks.
Markets under pressure; IT financials grab spotlight.
Retail inflation has eased from double digits in 2013.
The scrutiny is expected to be over this month itself.
Official GDP data for the second quarter of the current fiscal year ending March are due to for release this Friday.
'Kindling the private sector's animal spirits is more important than focusing on how government can give jobs on its own.'
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