Sensex in green in afternoon trade.
S&P BSE Midcap and the S&P BSE Smallcap indices gained 2% and 1.6% respectively
India has been a core portfolio holding for emerging market funds.
'If you want to keep a cow and do business you can keep it in your compound or your home, but not tie them up at public places.' Taking up this problem by its horns, the Brihanmumbai Municipal Corporation is planning to take action against all those who illegally tie cows to the footpaths and turn it into a business. The civic body has proposed to increase the penalty for tethering cows, bulls and horses to poles on roads and footpaths to Rs 10,000 from Rs 2,500. The proposal follows a request by Matunga corporator Nehal Shah, who said that at various places -- temples, footpaths and roadside corners -- cows are tied up to poles and passers-by pay owners to feed the animal. Speaking to Syed Firdaus Ashraf/Rediff.com, she says that tying up animals on the streets is tantamount to cruelty and that the steep fines will act as a deterrent.
'Experts are not ruling out further pain as global factors cannot insulate India from the aftermath.'
Sensex climbs higher on favourable global cues.
HDFC twins, Axis Bank, ICICI Bank and SBI from the financial space gained between 1-2.7%.
Nifty50 surged 87 points to end at 8,157, highest closing levels since Oct 29, 2015.
Currently, onion is being sold at Rs 36 per kg in retail markets of the national capital and Rs 32 per kg each in Mumbai, Kolkata and Chennai, according to the Consumer Affairs Ministry that monitors prices of 22 essential food items.
Pharma shares were the top gainers led by Lupin after the company received EIR from USFDA for its Goa facility
The upcoming July derivatives expiry later in the week would also add some volatility to the market proceedings.
n the broader market, BSE Midcap and Smallcap indices are trading higher by 0.3% each.
The S&P BSE Sensex ended up 129 points at 26,843 and the Nifty50 ended up 39 points at 8,220.
Maruti, Hyundai, Tata Motors, Mahindra & Mahindra and Honda saw their passenger vehicle sales improve in August compared to the same month last year, although Ford and Toyota witnessed a decline.
RBI will cut rates in its next policy announcement on June 2.
RBI Governor Raghuram Rajan expressed anguish at the banks' reluctance to pass on benefits of the earlier rate cuts.
He also affirmed that over time, as the government finances improve, the SLR will be brought down further.
'This may be good news for Rahul Gandhi, for no matter how Modi performs, there will always be some degree of dissatisfaction with his performance among large sections of voters,' says R Jagannathan.
In the third of a six-part series T E Narasimhan finds out how the hub of India's firecrackers industry is coping after more than a month of the note ban.
The repo rate or the short term lending rate was increased to 7.5 per cent from 7.25 per cent.
Disagreeing with Reserve Bank's projection on the price situation, former RBI Governor and PM's Economic Advisory Council chairman C Rangarajan said WPI and CPI may not be as high as being projected by the central bank.
Tata Motors (down 1.7%) was the top loser on Sensex and Nifty, while Lupin (1.6%) gained the most.
Technical rallies and short covering may arise only if the markets break this 500 point band
Demonetisation will wipe out the likely benefits of a good monsoon this year, says Christopher Wood of CLSA.
Binu Alex, co-founder and editorial director of www.commodityonline.com, in an interview to Syed Firdaus Ashraf/Rediff.com, says demand-supply imbalance arising out of the government's inability to preserve the crop for non-harvesting season is the root cause behind the price rise.
Rate-sensitive sectors like banks, realty and auto witnessed heavy selling pressure ahead of the RBI Monetary policy which is scheduled on September 29.
It is only 'zero-cost' money from FPIs that is keeping the market afloat
A logjam on the GST front could turn things upside down and turmoil in Gujarat might also have an adverse impact
Traders are waiting for the earnings season to kick off.
'It is almost four years since we've seen strong growth in earnings.' 'The markets have rallied about 20 per cent in the past year, which is ahead of earnings.' 'So, the stress now will be on earnings to catch up.'
The government will unveil the Consumer Price Index data and the Wholesale Price Index data for August on Monday.
BSE Midcap and Smallcap indices ended in line with their larger counterparts and closed marginally up 0.2% and 0.4%, each
Gold is currently ruling at Rs 30,050 per 10 grams.
Markets ended weak tracking the expiry of April derivative contracts.
The Reserve Bank of India (RBI) is likely to keep monetary policy steady in June despite sluggish economic activity as inflation remains elevated, a Reuters poll showed on Wednesday.
RBI said inflation in the second half of the current fiscal is projected at 2.7-3.2%. It retained its GDP forecast for the current fiscal at 7.4%
The sharp fall in rupee since the beginning of May will make things difficult for the central bank which is on the path of easing the monetary policy to revive growth.
The Reserve Bank of India kept interest rates on hold at 7.50 per cent.
Inflation moderates, but a rate cut is unlikely.
