The broader NSE Nifty rose 32.15 points or 0.29 per cent to settle at 11,284.30.
The 30-share Sensex provisionally ended up 366 points at 27,275 and the 50-share Nifty ended up 132 points at 8,235.
The 30-share Sensex ended higher by 177.46 points at 28,885.21 and the Nifty gained 63.90 points at 8,778.30.
Delivering a public speech hours after the RBI launched a rescue act for Yes Bank on March 6, Governor Shaktikanta Das reiterated the RBI's affirmation to do whatever was needed to combat the coronavirus impact. On that day, India had only one confirmed COVID-19 infection, the World Health Organisation was five days off from declaring it as a pandemic and the financially debilitating lockdowns were not even on the horizon. Das' promise on efforts to mitigate COVID-19 impact appeared as a footnote in news reports from the event.
Since December 2018, monetary policy has been eased substantially by RBI with policy rates being cut by 75 bps and policy outlook being changed to 'accommodative'.
The Survey shows fiscal consolidation despite slowdown in growth.
After opening on a weak note, the 30-share BSE index settled 226.79 points, or 0.55 per cent, higher at 41,613.19 -- hitting an intra-day high of 41,697.03 and a low of 41,275.60. Likewise, the broader NSE Nifty closed 67.90 points, or 0.56 per cent, up at 12,248.25.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Largest bidder says FTIL not following correct process and MCX not extending cooperation; FTIL and MCX say cooperating fully
The bank will have around 501 branches.
EduBridge is emerging as a strong player in training unemployed youth.
HDFC and HUL are the latest entrants in the club
Equity benchmark Sensex rallied 487 points on Monday to close at a fresh lifetime peak, tracking gains in Infosys, HDFC twins and HCL Tech amid massive foreign fund inflows.
The largest e-commerce entity of China is setting up its first India office -- an indication that it intends to capture a pie of the growing e-commerce market here. Raghavendra Kamath & Alnoor Peermohamed report.
Investors turned cautious weighing weak GDP numbers and continued drop in automobile sales, bringing banking and auto sector stocks under pressure.
Equity benchmark Sensex rebounded 454 points on Thursday, boosted by gains in index heavyweight Reliance Industries amid a positive trend in global markets.
'Like doctors, health workers, police, bankers are also COVID warriors,' notes Tamal Bandyopadhyay.
In India, it is not easy to fight it out with the large banks which are nimble-footed and technology-savvy and are continuously innovating on the retail turf with newer products for customer acquisition.
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.
Among the Sensex constituents, Larsen and Toubro emerged as the top performer with a gain of 2.76 per cent after the company announced winning large contracts from domestic clients.
After fighting inflation for more than two years, Reserve Bank of India (RBI) Governor Duvvuri Subbarao finally managed to bring it below the five per cent level - the tolerance level of the central bank - in FY14.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
Of the total 53,334 cases of frauds reported during 2008-09 and 2018-19 fiscal years, involving a whopping Rs 2.05 lakh crore, a highest of 6,811 cases were reported by the ICICI Bank.
Other major laggards were IndusInd Bank, SBI, Bharti Airtel, ONGC, Tata Steel and Reliance Industries -- falling as much as 6.30 per cent.
The regulatory actions, undertaken by the RBI and the government, came hours after finance ministry sources confirmed that SBI was directed to bail out the troubled lender. For the next month, Yes Bank will led by the RBI-appointed administrator Prashant Kumar, an ex-chief financial officer of SBI.
If the earnings in the first quarter of the current financial year are an indication, most banks, particularly those majority-owned by the government, have fared well, reveals Tamal Bandyopadhyay.
Most rate-sensitive stocks ended on a negative note, with BSE auto, bankex, finance and realty indices cracking up to 2.10 per cent.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
New entrants could include Flipkart, Paytm, Cafe Coffee Day and ICICI Prudential Life Insurance, it says
The FMCG index gained more than 1% on the back of stellar gains in ITC.
'It's a toss-up between a fire sale of equity or merger with a strong bank,' points out Tamal Bandyopadhyay.
Top laggards in the Sensex pack included Kotak Bank, ICICI Bank, HDFC Bank, Tata Motors, L&T, SBI, Tata Steel and Axis Bank, falling up to 3.46 per cent.
Yes Bank was the biggest gainer in the Sensex pack, soaring up to 15.19 per cent, followed Tata Motors, IndusInd Bank, SBI, Bajaj Auto, Asian Paints, Axis Bank, Tata Steel and Maruti, rising up to 9.82 per cent.
By no means do economists see the Reserve Bank of India stop at just a 25-bp cut. Some of the economists such as Soumyakanti Ghosh of State Bank of India are of the firm view that rates have room to fall by a total of 75 bps in the current financial year, starting with 25 bps in the August 7 policy.
The big test will come at the end of March when the fiscal year ends and banks tend to hold on to cash.
R-Cap's demands following PwC's audit report add a fresh layer of worries for MCX investors and could hit valuations marginally.
According to Merrill Lynch (BofA-ML) report, Domestic capital markets are likely to remain volatile in the September-November period due to factors like US Fed's policy action, second quarter corporate earnings and Bihar state elections.
Women dominate Indian banks's clerical and officer rolls, but few make it to the executive office these days, notes Tamal Bandyopadhyay.
'We still need a certain number of large public sector banks for financial inclusion and stability purposes.'
Frequent balance transfer in search of a lower rate can be tricky for borrowers, if property prices fall
