The BSE benchmark Sensex today fell over 183 points in late morning trade led by weakness in banking sector stocks, as RBI failed to meet market expectations with just 0.25% cut in short-term lending rate and no change in the cash reserve ratio.
Gold futures prices rose by 0.38% to Rs. 27,016 per 10 gm on Friday as speculators enlarged their positions on the back of firming global trends.
The rupee depreciated further by 13 paise to close at 53.94 against the dollar at the Interbank Foreign Exchange (Forex) market today on the back of weakness in local equities despite key rate cut by the RBI.
The BSE benchmark Sensex today fell by 160 points on profit-booking in interest-sensitive banking, auto and realty stocks as RBI adopted a "hawkish" stance in its monetary policy 2013-14 that overshadowed its 0.25% cut in repo rate.
The Sensex on Thursday jumped 232 points, or 1.2%, to close at a 3-month high of 19,736 and the Nifty breached the 6,000-level in early trade as rate-sensitive banking and realty stocks notched up smart gains on hopes of rate cut by the RBI in its annual policy on Friday.
The rupee today rose by 13 paise to 54.12 against the dollar in early trade at the Interbank Foreign Exchange on fresh selling of the US currency by exporters, amid sustained foreign capital inflows.
The BSE benchmark Sensex today rose 117 points to close at a six-week high of 19,504.18 on funds buying in bluechips led by FMCG stocks such as Hindustan Unilever after its parent company Unilever Plc announced an open offer to hike stake in its Indian arm to 75%.
The rupee today gained six paise to 54.31 against the dollar in early trade at the Interbank Foreign Exchange market on increased selling of the US currency by exporters.
The BSE benchmark Sensex today recovered by 101 points on funds buying in blue-chips led by FMCG and realty on better earnings amid a firming global trend.
India has always had a fetish for gold and gold jewellery but the craze is going beyond that. With gold prices easing, the craze for the yellow metal is not only pushing consumers into investing in gold and gold jewellery, but the demand for gold exchange traded funds (ETFs) has also increased in the country.
ICICI Bank, India’s second-largest bank, on Friday posted a 21% year-on-year rise in standalone net profit to Rs.2,304 crore during the January-March quarter against Rs.1,902 crore a year-ago, driven by healthy growth in interest income, HT reports.
Small individual investors and high net-worth individuals (HNIs) have continued their share buying spree in Kingfisher Airlines, despite the ailing carrier been grounded for nearly seven months after its licence was suspended.
Gold prices rose Rs. 152 to Rs. 27,193 per ten grams in futures trading today as speculators enlarged their positions, taking positive cues from overseas markets.
Snapping a four-day rally, the BSE benchmark Sensex on Friday fell from six-week high by losing 120 points dragged down by RIL, ICICI Bank and TCS amid a weak global trend.
After completing four days of gains, gold prices spurted by Rs. 400 today to regain the psychological level of Rs. 28,000 per ten grams on sustained seasonal buying amid a firming global trend.