The indices closed with losses for the week, with the Sensex declining 476.14 points, and the broader NSE Nifty falling 155.45 points during the period.
The NSE Nifty ended 89.40 points, or 0.83 per cent, lower at 10,710.45.
Grounded Kingfisher Airlines has written to UCO Bank wanting to know the basis of attaching the 'wilful defaulter' tag on the carrier.
State Bank of India's push among fellow bankers to appoint an external agency to run debt-heavy Bhushan Steel might not be smooth sailing.
Markets extended gains for the fourth consecutive day tracking gains in banks, capital goods and oil and gas majors.
In the Sensex kitty, ITC turned star performer by surging 2.45 per cent, followed by NTPC rising 2.19 per cent.
For the week, the Sensex recorded a fall of 371 points, or 1.10 per cent, and the NSE Nifty 130.75 points, or 1.25 per cent.
Salil Dhawan reveals the MFs that have not only performed well in the past but have a promising outlook for the future too.
He said it may take up to 3 weeks for all the 2 lakh cash vending ATMs to operate normally as each one has to be calibrated individually to dispense new sized notes of Rs 2000 and Rs 500 besides lower denomination currency of Rs 100.
The Sensex and the Nifty had touched a low of 27,921 and 8,349 respectively.
A declining rupee, elevated crude oil prices and sustained foreign fund outflows added to the gloom
In the Sensex kitty on Wednesday, Tata Motors emerged as the top loser falling 3.01 per cent, followed by Vedanta shedding 2.92 per cent. Other laggards include HUL, Kotak Bank, NTPC, Infosys, HDFC Bank, Bajaj Finance, Hero MotoCorp, ICICI Bank, Yes Bank, HDFC, IndusInd Bank and PowerGrid, falling up to 1.77 per cent.
The firm, which owns, operates and manages hotels, palaces and resorts, is likely to hive-off the two properties into separate entities.
The Sensex ended up 48 points at 28,386 and the Nifty gained 13 points to close at 8,476.
Auto stocks are weighing on the indices.
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The minister, who will also be meeting foreign institutional investors whose money is key to funding CAD in the afternoon, did not speak to reporters waiting outside.
Major gainers which contributed to the Nifty were ICICI Bank, State Bank of India, Reliance Industries, ONGC, Tata Consultancy Services, Infosys, Bajaj Auto, Tata Power and Larsen and Toubro.
The Sensex swung over 660 points both ways on alternate bouts of selling and buying before closing the day higher by 97.39 points, or 0.28 per cent.
Construction major L&T was the biggest gainer among the Sensex components, spurting 2.30 per cent, after the company said its board has approved a Rs 9,000-crore share buyback plan.
World Bank lowered its global economic growth outlook for 2016 to 2.9% from 3.3% earlier.
Investor sentiments remained upbeat tracking global developments as the US, China geared up for trade talks due this week.
Retail investors usually get caught up in the frenzy of a bull market and burn their fingers in IPOs, warns Tinesh Bhasin.
These numbers show overall exposure and are not a reflection that all loans are going to be impacted.
'I would say restore the banks to health, get active board composed of professionals, then there will be an ideal situation for merger.'
Both benchmark indices were driven by strong gains in IT, teck, oil and gas, pharma and banking shares amid earnings optimism.
Sensex closed over 118 points down on Thursday.
The Ambani brothers, Mukesh and Anil, came together on Thursday to raise the issue of stalled projects plaguing India Inc and implored the Maharashtra government and the Centre to make Mumbai, India's financial capital, an easier place for business and investments. "Several projects are stuck for many years in Mumbai and we would like to know how the government intends to improve the financing and execution of projects, including those relating to infrastructure and education which have been in limbo for long and are affecting the growth of the city," Reliance Industries Ltd (RIL) Chairman Mukesh Ambani told Finance Minister Arun Jaitley. Seated on the same table was his brother, apart from Tata Group Chairman Cyrus Mistry and State Bank of India (SBI) Chairman Arundhati Bhattacharya. Jaitley was addressing the Mumbai Next MMR Transformation conclave, organised by the Maharashtra government and Mumbai First here, through video conference. In his reply, Jaitley said the government was exploring several options of infrastructure financing in India and that a number of international bodies were ready to fund infrastructure development projects. He added the government was keenly considering these funding sources. While praising Maharashtra Chief Minister Devendra Fadnavis for honesty, Jaitley also had a word of advice. Apart from being honest, the government had to be decisive, he said. On his part, Reliance Group Chairman Anil Ambani told the chief minister about his experience of decisions being delayed due to an indecisive bureaucracy and the need to protect officials who wanted to take quick decisions. "Through the past many years, we have faced a number of obstacles in decision-making," he said, adding he was speaking as someone who had lived and invested in Mumbai. Fadnavis responded by saying he would bring about a transparent process to ring-fence officials. Both the Ambani brothers have announced a number of infrastructure projects in and around Mumbai, including a world-class convention centre in Bandra Kurla Complex by RIL, but very few have actually fructified. RIL's special economic zone project failed to take off due to land acquisition problems in Raigarh, while a second SEZ near Mumbai is stuck due to lack of clarity in SEZ norms. The first phase of the Mumbai Metro, set up by Anil Ambani's Reliance Infrastructure, was marred by cost overruns and run-ins with the government over fares. Subsequently, the company withdrew from the second and larger phase, citing inordinate delay. Anil Ambani also withdrew from Mumbai's sea link project on the same grounds. The brothers had also bid for a trans-harbour sea link between Navi Mumbai and Mumbai under the Congress-Nationalist Congress Party government, but their bid was rejected. Reliance Infrastructure is also the power supplier to more than half of this city. Participating in the conclave, some of India Inc's leading bankers said making Mumbai a financial hub would take at least a decade. SBI's Bhattacharya said the Indian currency should be made fully convertible and facilities should be created for it. "However, for this, the economy needs to look up and that will happen only in the next 7-10 years, not immediately," she added. Sunil Kaushal, Chief Executive Officer of Standard Chartered, India, pitched for strong infrastructure to support development. "We will take a long time to develop into a global financial centre. We need to solve transport bottlenecks in Mumbai and have lifestyle facilities for people working in and around these areas," he said.
Our focus around technology, cost efficiency, persistency and effective distribution channel will continue, says the ICICI Bank MD and CEO.
In a live chat on rediff.com held on Friday, July 11, well-known equity specialist Devang Mehta discussed what effect the Budget will have on the stock markets -- from how NOT to lose money in the markets to which are the safest stocks.
Strong gains in metal, energy, auto and power shares lifted the key indices to new highs.
Oil & gas, banking and pharma sector stocks stole the show
Deutsche Bank India CEO has grand plans for the region.
