Indices end flat, Nifty settles at 10,227 levels; PSU banks, metals lose
All that happened in the markets today.
 "Markets, Buy, Sell, Stocks")
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The domestic indices ended largely flat on Friday taking cues from their Asian counterparts.
Among sectoral indices, the Nifty PSU Bank index ended 1.81% lower led by a fall in the shares of Canara Bank, IDBI Bank and Oriental Bank of Commerce. The Nifty Metal index too ended 1.81% down due to a fall in shares of Steel Authority of India Limited, Jindal Steel & Power and Tata Steel.
The Reserve Bank may provide four quarters to Punjab National Bank (PNB) for making provisions against the country's biggest ever banking fraud of Rs 127 billion allegedly masterminded by billionaire diamantaire Nirav Modi. The bank has written a letter to the banking sector regulator seeking its opinion on making provisions for the fraud, sources said.
In the global markets, Asian shares rallied and the safe-haven yen eased on Friday after North Korean leader Kim Jong Un offered to stop nuclear and missile testing and US President Donald Trump agreed to a meeting that could come before May.
Among sectoral indices, the Nifty PSU Bank index ended 1.81% lower led by a fall in the shares of Canara Bank, IDBI Bank and Oriental Bank of Commerce. The Nifty Metal index too ended 1.81% down due to a fall in shares of Steel Authority of India Limited, Jindal Steel & Power and Tata Steel.
The Reserve Bank may provide four quarters to Punjab National Bank (PNB) for making provisions against the country's biggest ever banking fraud of Rs 127 billion allegedly masterminded by billionaire diamantaire Nirav Modi. The bank has written a letter to the banking sector regulator seeking its opinion on making provisions for the fraud, sources said.
In the global markets, Asian shares rallied and the safe-haven yen eased on Friday after North Korean leader Kim Jong Un offered to stop nuclear and missile testing and US President Donald Trump agreed to a meeting that could come before May.
Japan’s Nikkei rose 0.5 per cent and South Korean stocks rose more than 1 per cent. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.6 per cent.
(with wire inputs)
The mood had already brightened a little after Trump pressed ahead with tariffs but offered conditional exemptions for Canada and Mexico, offering at least the hope a full-blown trade war could be averted.
The White House said other countries could apply for exemptions on the 25 per cent tariff on steel imports and 10 per cent for aluminum, but details were sparse on when they might be granted and under what terms.
Several major trading partners have said they will respond with tariffs or direct action of their own.
(with wire inputs)
3:39 PM
Nifty Metal index too slips over 1.5%
3:34 PM
Nifty PSU Bank index slips over 1.5%
3:33 PM
Sectoral trend
3:32 PM
Sensex Heatmap
3:31 PM
Markets at Close
The S&P BSE Sensex ended at 33,307, down 44 points while the broader Nifty50 index settled at 10.227, down 16 points
The S&P BSE Sensex ended at 33,307, down 44 points while the broader Nifty50 index settled at 10.227, down 16 points
3:12 PM
Steel stocks under pressure; Tata Steel, JSPL, SAIL down 4%
Shares of steel companies were under pressure with Tata Steel, Jindal Steel & Power (JSPL) and Steel Authority of India (SAIL) down more than 4% on the National Stock Exchange (NSE) after US President Donald Trump imposed tariffs of 10% and 25% on imports of steel and aluminium respectively on March 8th.
Meanwhile, Tata Steel slipped nearly six-month low at Rs 607, down 4% on the BSE in intra-day trade, extending its past two days 4% decline after the company on Wednesday said that it has emerged as the top bidder for debt-laden Bhushan Steel.
2:57 PM
Gold stays weak on global cues, tepid demand
Gold prices fell by Rs 100 to Rs 31,350 per 10 grams at the bullion market today in tandem with a weakening global trend amid sluggish demand from local jewellers.
Silver also drifted down by Rs 115 to Rs 39,385 per kg due to reduced offtake by industrial units and coin makers. READ MORE
2:45 PM
Crude oil futures rose on Friday as Asian stock markets gained on news that North Korean leader Kim Jong Un will meet with US President Donald Trump. READ MORE
Oil edges up as US President Trump set to meet North Korea's Kim
Crude oil futures rose on Friday as Asian stock markets gained on news that North Korean leader Kim Jong Un will meet with US President Donald Trump. READ MORE
2:32 PM
Plug loopholes in alternative investment funds regulations: RBI to Sebi
The Reserve Bank of India (RBI) wrote to the Securities and Exchange Board of India (Sebi) to plug loopholes in alternative investment funds (AIFs) regulations that are being exploited by the funds to give corporate loans. According to sources, the banking regulator is concerned about the risks posed by such practices and fears the route could also be used for money laundering.
It is worthwhile to note that all the lending businesses in India are regulated by the RBI. READ MORE
2:16 PM
National Stock Exchange 'hopeful' of going public in FY19
India's National Stock Exchange said on Thursday it was hopeful of going public in the next financial year beginning April and that it was committed to expeditiously resolving regulatory issues that have delayed its initial public offering.
NSE, as the bourse is known, had originally planned to go public in 2017 but it has been delayed due to an investigation by the market regulator Securities and Exchange Board of India (Sebi) on whether the exchange's employees had provided unfair trading access to select brokers. READ MORE
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First Published: Mar 09 2018 | 3:30 PM IST